Nebraska § 45-371 - Installment sales contract; excess charges; contract void and uncollectible; civil suit.
Full text of Nebraska Revised Statutes of Nebraska § 45-371 — Installment sales contract; excess charges; contract void and uncollectible; civil suit., with citation guidance and answers to common questions.
§ 45-371. Installment sales contract; excess charges; contract void and uncollectible; civil suit.
(1) If any seller or sales finance company, in the making or collection of an installment sales contract, shall, directly or indirectly, contract for, take, or receive charges in excess of those authorized by the Nebraska Installment Loan and Sales Act except as a result of an accidental and bona fide error, such contract shall be void and uncollectible as to (a) all of the excessive portion of the time-price differential, (b) the first one thousand dollars of the time-price differential authorized by section 45-365, and (c) the first four thousand dollars of the principal of the contract.
(2) If any seller or sales finance company violates any provision of the act, other than the violations described in subsection (1) of this section, except as a result of an accidental and bona fide error, such installment sales contract shall be void and uncollectible as to the first five hundred dollars of the time-price differential and the first one thousand dollars of the principal of such contract. If any of such money has been paid by the buyer, such buyer or his or her assignee may recover under the act in a civil suit brought within one year after the due date, or any extension thereof, of the last installment of the contract.
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 45-371
What does Revised Statutes of Nebraska § 45-371 cover?
Section 45-371 ("Installment sales contract; excess charges; contract void and uncollectible; civil suit.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 45-371?
A common citation format is "Revised Statutes of Nebraska § 45-371" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 45-371 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.