Nebraska § 8-2750 - Foreign adversary person; establish status; presumptions; effect; rebuttable; evidence required.

§ 8-2750. Foreign adversary person; establish status; presumptions; effect; rebuttable; evidence required.

(1)(a) For purposes of section 8-2713, if an applicant or any key individual or person in control of the applicant fails to establish that such applicant, key individual, or person in control is not a foreign adversary person, the director shall presume that the character and general fitness of such applicant, key individual, or person in control indicates that it is not in the interest of the public to permit the applicant to engage in money transmission.

(b) For purposes of section 8-2716, if a person, or group of persons acting in concert, seeking to acquire control of a licensee or if any key individual or person that would be in control of a licensee after acquisition of control fails to establish that such person, group, or key individual is not a foreign adversary person, the director shall presume that the character and general fitness of such person, group, or key individual indicates that it is not in the interest of the public to permit the person, group of persons acting in concert, or key individual to control the licensee.

(c) For purposes of section 8-2734, if a licensee or authorized delegate or any key individual or persons in control of a licensee or responsible person in control of the authorized delegate fails to establish that such licensee, delegate, key individual, or person in control is not a foreign adversary person, the director shall presume that the character and general fitness of such licensee, delegate, key individual, or person in control indicates that it is not in the interest of the public to permit the licensee, delegate, key individual, or person in control to provide money transmission.

(d) For purposes of section 8-2735, if an authorized delegate or a person in control of the authorized delegate fails to establish that such delegate or person in control is not a foreign adversary person, the director shall presume that the character and general fitness of such delegate or person in control indicates that it is not in the interest of the public to permit the authorized delegate to provide money transmission.

(2) The presumptions described in subsection (1) of this section shall only be rebutted by clear and convincing evidence that:

(a) The relevant foreign government or foreign nongovernment person listed in 15 C.F.R. 791.4 has expressly exempted the relevant applicant, licensee, authorized delegate, key individual, or person from all legal obligations to share any information from an individual in this state with any foreign adversary person;

(b) The exemption described in subdivision (2)(a) of this section will be judicially enforceable within this state against the foreign government and nongovernment person by any individual in this state who uses the money transmitter services of the exempted individual or person;

(c) The exempted individual or person has established a relationship with an auditor organized within, and with its primary place of business within, the United States that will verify, through an external compliance audit or similar process conducted at least quarterly and in compliance with all applicable auditing standards, whether any information is shared by the exempted individual or person with a foreign adversary person during the duration of the license or at any point within three years after the expiration of the license; and

(d) The exempted individual or person has adopted a policy that it will promptly notify all affected individuals and the Attorney General if it or its auditor concludes that information has been shared with a foreign adversary person during the duration of the license or at any point within three years after the expiration of the license.