45-1038. Licensees; loan provisions; violations; effect.

If, in the making of, or collection on, any loan contract, any act is done which constitutes a Class II misdemeanor under section 45-1037, that loan shall not be void, but the licensee shall have no right to collect or receive any interest or charges whatsoever. If any interest or other charges have been collected, the licensee shall forfeit and refund to the borrower all interest and other charges collected on the loan involved.

Source:Laws 1941, c. 90, § 27, p. 356; C.S.Supp.,1941, § 45-155; Laws 1943, c. 107, § 6, p. 373; R.S.1943, § 45-154; Laws 1963, Spec. Sess., c. 9, § 3, p. 110; Laws 1963, Spec. Sess., c. 7, § 12, p. 96; Laws 1977, LB 40, § 251; R.S.1943, (1998), § 45-154; Laws 2001, LB 53, § 66.

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