Nebraska Revised Statutes

Neb. Rev. Stat. § 45-338 (2026)

Surety bond

✓ current as of July 2026

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(1) An applicant for a license to be issued pursuant to the Nebraska Installment Loan and Sales Act shall file with the department a surety bond in the amount of fifty thousand dollars, furnished by a surety company authorized to do business in this state. Such bond shall be increased by an additional fifty thousand dollars for each branch location of the applicant that is licensed under the Nebraska Installment Loan and Sales Act. The bond shall be for the use of the State of Nebraska and any Nebraska resident who may have claims or causes of action against the applicant. The surety may cancel the bond only upon thirty days' prior written notice to the director.

(2)(a) Except as provided in subsection (3) of this section, an installment loan licensee who employs or enters into an independent agent agreement with an individual required to obtain a mortgage loan originator license pursuant to the Residential Mortgage Licensing Act shall maintain the surety bond required by subsection (1) of this section and a supplemental surety bond. The supplemental surety bond posted by such installment loan licensee shall cover all mortgage loan originators who are employees or independent agents of such licensee. The supplemental surety bond shall be for the use of the State of Nebraska and any Nebraska resident who may have claims or causes of action against such licensee arising from a transaction involving a residential mortgage loan, as defined in section 45-702, or against an individual who is a mortgage loan originator employed by, or in an independent agent relationship with, the licensee. The initial amount of the supplemental surety bond shall be one hundred thousand dollars.

(b) Upon filing of the mortgage report of condition required by section 45-345, a licensee shall maintain or increase its supplemental surety bond to reflect the total dollar amount of the closed residential mortgage loans originated or serviced in this state in the preceding year in accordance with the table in this subsection. A licensee may decrease its supplemental surety bond in accordance with the table in this subsection if the supplemental surety bond required is less than the amount of the supplemental surety bond on file with the department.

Dollar Amount of Closed or Serviced	Surety Bond Required
Residential Mortgage Loans
$0.00 through $5,000,000.00	$100,000
$5,000,000.01 through $10,000,000.00	$125,000
$10,000,000.01 through $25,000,000.00	$150,000
$25,000,000.01 and over	$200,000

Notes of Decisions

Cited in 2 cases, 1987–2001 · leading case: Watson v. Avco Fin. Servs. Int'l, Inc., 401 N.W.2d 485 (Neb. 1987).

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Watson v. Avco Fin. Servs. Int'l, Inc., 401 N.W.2d 485 (Neb. 1987). · cites it 6× “They are as follows: (1) Did the appellees contract for and collect an excessive time-price differential in violation of Neb. Rev. Stat. § 45-338 (Reissue 1978)? (2) Did the appellees contract for unauthorized attorney fees? and (3) Did the appellees collect an unauthorized…”

Richard B. White v. Coors Distrib. (8th Cir. BAP 2001). · cites it 2× “]” Neb. Rev. Stat. Ann. § 45-338 (Michie 2000).”

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