Ask Reggi Your Question Now
Reggi is the free generative AI assistance for regulatory compliance
Can you summarize NERS 8-828?
BANKS AND BANKING > Personal loans; bank; purchasing and discounting commercial, negotiable, or installment paper.
Short Summary
Nothing contained in sections 8-815 to 8-826 shall be construed as preventing a bank from purchasing or discounting from established business concerns any commercial, negotiable or installment paper, or as preventing any such bank from accepting from, or requiring such persons selling or offering to discount such instruments to execute, contracts guaranteeing the ultimate collection of all of such items so sold or discounted or requiring such persons to assume the burden of making collections of the individual items so sold as agent of the bank. Source: Laws 1965, c. 31, 14, p. 218; Laws 2017, LB140, 144.
Jurisdiction
Nebraska