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Can you summarize NERS 8-2733?
BANKS AND BANKING > Application; director; duties; powers; onsite investigation; costs; denial of application; reasons; hearing.
Short Summary
The provided legal document pertains to the Nebraska Money Transmitters Act. It outlines the process for obtaining a license to engage in money transmission in the state of Nebraska. The director is responsible for investigating the financial condition, experience, character, and fitness of the applicant. The director may conduct an onsite investigation, with the applicant bearing the reasonable cost. If the applicant meets the requirements and pays the necessary fees, the director will issue a license. If the requirements are not met, the director will deny the application and provide written reasons for the denial. The director must approve or deny the application within 120 days, with the possibility of an extension. If an applicant is aggrieved by a denial, they can request a hearing before the director. If an applicant fails to complete the application or respond to notices to correct deficiencies within 120 days, the application may be deemed abandoned. The document also references the Administrative Procedure Act for the hearing process. No specific penalties are mentioned in this document.
Whom does it apply to?
Applicants for a license to engage in money transmission in Nebraska
What does it govern?
Nebraska Money Transmitters Act
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Nebraska