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.

This legal document, sourced from the Nebraska Revised Statutes under the section ‘BANKS AND BANKING’, outlines the obligations of licensees in relation to providing notice to the director and filing reports. Licensees are required to file notice with the director within thirty calendar days of any material change in the information provided in their application. Additionally, licensees must file a report with the director within five business days of becoming aware of certain events, such as bankruptcy filings, receivership, dissolution or reorganization proceedings, license revocation or suspension actions, cancellation of bond or security, or felony charges or convictions of the licensee or authorized delegate.

This legal document, part of the Nebraska Revised Statutes governing Banks and Banking, outlines the requirements and procedures for acquiring control of a licensee under the Nebraska Money Transmitters Act. It states that no person acting personally or as an authorized delegate can acquire control of a licensee without first giving thirty days’ notice to the director. The director has thirty days to act upon the proposed acquisition and may disapprove it if the financial condition of the acquiring person jeopardizes the financial stability of the licensee, if the acquiring person’s business experience or character indicates that the licensee would not be operated honestly or efficiently, or if the acquiring person fails to provide required information.

This legal document, governed by the Nebraska Revised Statutes under the section ‘BANKS AND BANKING’, pertains to licensees. It requires licensees to maintain and preserve various books, accounts, and records for a period of three years. These records include a record of each payment instrument and stored value sold, a general ledger containing all assets, liability, capital, income, and expense accounts, settlement sheets received from authorized delegates, bank statements and bank reconciliation records, records of outstanding payment instruments and stored value, records of each payment instrument and stored value paid, a list of the names and addresses of all authorized delegates, and any other records reasonably required by the director.

A licensee desiring to conduct money transmission through an authorized delegate shall authorize each authorized delegate to operate pursuant to an express written contract which, for contracts entered into on or after January 1, 2014, shall provide the following: (1) That the licensee appoints the person as its authorized delegate with authority to engage in the sale and issue of payment instruments or engage in the business of money transmission on behalf of the licensee; (2) That neither a licensee nor an authorized delegate may authorize subdelegates without the written consent of the director; and (3) That the licensee is subject to supervision and regulation by the director.

This legal document governs the role and responsibilities of authorized delegates in the context of money transmission. Authorized delegates are required to adhere to certain obligations, including refraining from making fraudulent or false statements, conducting money transmission according to the licensee’s written procedures, and remitting all money owed to the licensee as per the contract terms. They are also subject to inspection by the director and must act within the scope of their authority.

This legal document governs the suspension or revocation of designation for authorized delegates under the Nebraska Money Transmitters Act. The director has the authority to issue an order suspending or revoking the designation of an authorized delegate after a hearing in accordance with the Administrative Procedure Act. The grounds for suspension or revocation include violations of the Nebraska Money Transmitters Act, failure to cooperate with examinations or investigations, engagement in fraud or intentional misrepresentation, conviction of a violation of anti-money laundering statutes, lack of competence or fitness, or engagement in unsafe or unsound practices.

If the director finds, after notice and hearing in accordance with the Administrative Procedure Act, that any person has violated the Nebraska Money Transmitters Act or any rule, regulation, or order of the director thereunder, the director may order such person to pay (1) an administrative fine of not more than five thousand dollars for each separate violation and (2) the costs of investigation. Source: Laws 2013, LB616, 44. Cross References Administrative Procedure Act, see section 84-920.

(1) Except as provided in subsections (2) and (3) of this section, any person violating the Nebraska Money Transmitters Act or any rule, regulation, or order of the director made pursuant to the act or who engages in any act, practice, or transaction declared by the Nebraska Money Transmitters Act to be unlawful is guilty of a Class III misdemeanor. (2) A person who intentionally makes a false statement, misrepresentation, or false certification in a record filed or required to be maintained under the act or who intentionally makes a false entry or omits a material entry in such a record is guilty of a Class I misdemeanor.

The director may adopt and promulgate rules and regulations and issue orders, rulings, findings, and demands as may be necessary to carry out the purposes of the Nebraska Money Transmitters Act. Source: Laws 2013, LB616, 46.