Nebraska LB473 amends the Nebraska Money Transmitters Act to modernize supervision and regulation.
Nebraska LB473 modifies the Nebraska Money Transmitters Act to enhance regulatory oversight and efficiency. It updates the definition of money transmission, expands permissible investments, and mandates that licensees maintain records and file reports. The bill also authorizes the director to use the Nationwide Mortgage Licensing System and Registry for licensing and record-keeping. It outlines procedures for license applications, renewals, and acquisitions of control.
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