Installment loans; assignments of wages or security agreement in blank; prohibited.

  1. Law
  2. Nebraska Revised Statutes
  3. Interest, Loans, and Debt
  4. Installment loans; assignments of wages or security agreement in blank; prohibited.

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45-1028. Installment loans; assignments of wages or security agreement in blank; prohibited.

No licensee shall receive any security agreement or assignment of salary or wages signed in blank. All blank spaces shall be filled in with ink or typewritten or printed with the proper names and amounts showing the name of the person by whom the individual making the conveyance or assignment is employed. No assignment or order for wages is valid if it contains an amount in excess of the sum borrowed together with the interest and charges as provided in the Nebraska Installment Loan Act.

Source

  • Laws 1941, c. 90, § 18, p. 352;
  • C.S.Supp.,1941, § 45-146;
  • Laws 1943, c. 107, § 5, p. 373;
  • R.S.1943, § 45-142;
  • Laws 1972, LB 1060, § 2;
  • Laws 1993, LB 121, § 268;
  • R.S.1943, (1998), § 45-142;
  • Laws 2001, LB 53, § 56.

Annotations

  • Taking chattel mortgage in blank, with spaces to be later filled in, constituted violation of act. State ex rel. Beck v. Associates Discount Corp., 168 Neb. 298, 96 N.W.2d 55 (1959).

  • Taking chattel mortgage signed in blank was violative of act. State ex rel. Beck v. Associates Discount Corp., 162 Neb. 683, 77 N.W.2d 215 (1956).


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