Nebraska Revised Statute 52-1404

Chapter 52

52-1404.

Lender response; effect.

If the lender responds with a letter of commitment, the supplier may not obtain a lien for the amount stated in the letter of commitment. If the lender responds with a written refusal to issue a letter of commitment, the rights of the lender and the supplier are not affected by sections 52-1401 to 52-1411, and any prior perfected lien of the lender under the Uniform Commercial Code shall retain its established priority.

Source

  • Laws 1987, LB 101, § 4.