Nebraska Revised Statute 76-2,121
Real estate closing agents; terms, defined.
(1) Federally insured financial institution shall mean an institution in which the monetary deposits are insured by the Federal Deposit Insurance Corporation or National Credit Union Administration;
(2) Good funds shall mean: (a) Lawful money of the United States; (b) wired funds when unconditionally held by the real estate closing agent or employee; (c) cashier's checks, certified checks, bank money orders, or teller's checks issued by a federally insured financial institution and unconditionally held by the real estate closing agent or employee; or (d) United States treasury checks, federal reserve bank checks, federal home loan bank checks, State of Nebraska warrants, and warrants of a city of the metropolitan or primary class;
(3) Real estate closing agent shall mean a person who collects and disburses funds on behalf of another in closing a real estate transaction but shall not include a seller or buyer closing a real estate transaction on his or her own behalf or a lender closing a real estate loan transaction; and
(4) Regulating entity shall mean the:
(a) Department of Insurance;
(b) Supreme Court;
(c) State Real Estate Commission;
(d) Department of Banking and Finance;
(e) Federal Deposit Insurance Corporation;
(f) Federal Office of Thrift Supervision;
(g) Federal Farm Credit Administration; or
(h) National Credit Union Administration.
- Laws 1994, LB 1275, § 1;
- Laws 1999, LB 248, § 1.