Nebraska Statutes 45-1,112. Terms, defined
For purposes of sections 45-1,112 to 45-1,115 :
Terms Used In Nebraska Statutes 45-1,112
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(1)(a) Credit agreement means:
(i) A contract, promise, undertaking, offer, or commitment to loan money or to grant or extend credit; or
(ii) A contract, promise, undertaking, or offer to forebear repayment of money or to make any other financial accommodation in connection with a loan of money or grant or extension of credit, or any amendment of, cancellation of, waiver of, or substitution for any or all of the terms or provisions of any instrument or document executed in connection with a loan of money or grant or extension of credit, except for loans of money or grants or extensions of credit which are:
(A) Not in excess of twenty-five thousand dollars and used primarily for personal, family, or household purposes of the debtor or debtors; or
(B) Used for the purchase of and secured solely by the principal residence of the debtor or debtors.
(b) Credit agreement does not include (i) letters of credit or (ii) promissory notes, real estate mortgages, trust deeds, security agreements, financing statements, guarantee agreements, pledge agreements, or other similar documents or instruments evidencing an obligation to repay indebtedness or securing the repayment of indebtedness;
(2) Creditor means any financial institution which makes a credit agreement with a debtor;
(3) Debtor means a person or entity which obtains credit from a creditor, seeks a credit agreement with a creditor, or owes money to a creditor; and
(4) Financial institution means a state-chartered or federally chartered bank, savings bank, building and loan association, credit union, or savings and loan association or a holding company or affiliate or subsidiary of such an institution.