LB 328: License Bond – Mortgage Loan Originators
Mortgage loan originators must register and be covered by a surety bond. Through this new law the previous bond requirement for mortgage bankers will now need to provide coverage for all originators that the banker employs or that are independent agents of the banker. Under prior law the bond amount was $100,000. The new changes will consist of the bond amount being based on the total dollar amount of the closed residential mortgage loans originated in the state. There must be a base of $100,000 and a maximum of $200,000. This new law became effective upon enactment.
LB 392: Public Officials
The treasurer of a learning community coordinating council must post a surety bond under this new bill. It must be in the amount no less than $500 and no more than double the amount of money that may come into his or her hands. The amount of the bond will be determined by the learning community and the law became effective upon enactment.
LB 441: Appeal Bonds
Exemption is provided through this for all appellants that are indigent from the appeal bond requirements of existing law or municipal court cases. To obtain the exemption an affidavit attesting to the financial condition of the appellant will be required.
Nebraska LB 157 will revise the current bond requirements for conservators. Under current law the court is authorized to require a conservator to post a bond in the amount that is determined by the court. If the bond is amount is not determined by the court the amount must be equal to the aggregate capital value of the personal property of the estate in his or her control, plus one year’s estimated income from all sources. This must be minus the value of any securities deposited under arrangements that require an order of the court for their removal. The new bill will provide that the bond only would be required for estates valued over $10,000 and would require the bond to be in the amount described above. The court will still have the authority in which to determine whether the bond is required, and will also have the authority to adjust the amount if need be.
Boat dealers will be required to be licensed and to also post a surety bond in the amount of $50,000 from a corporate surety company. The bond will be conditioned on the terms of the license and the licensee’s responsibility to be in compliance with applicable law. The licensee will also need to indemnify the lien holders on the boat for losses incurred as specified in the bill’s provisions.