{"data":{"id":"us-ne/neb.-rev.-stat.-45-1-105","jurisdiction":"us-ne","citation":"Neb. Rev. Stat. § 45-1,105","heading":"Terms, defined.","body":"As used in sections 45-1,105 to 45-1,110, unless the context otherwise requires:\n(1) Collateral shall mean the property subject to a security interest as defined by the Uniform Commercial Code;\n(2) Consumer shall mean a natural person to whom credit is offered or extended by way of a transaction if the money, property, or services of the transaction are primarily for personal, family, or household purposes;\n(3) Credit shall mean the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment;\n(4) Creditor shall mean creditors who regularly extend, or arrange for the extension of, credit which is payable by agreement in more than four installments or for which payment of a finance charge is or may be required, whether in connection with loans, sale of property or services, or otherwise; and\n(5) Default shall mean either of the following, if without justification under any law:\n(a) The consumer fails to make a payment required by the agreement; or\n(b) The prospect of payment, performance, or realization of collateral is significantly impaired. The burden of establishing the prospect of significant impairment shall be on the creditor.","path":["Chapter 45 - INTEREST, LOANS, AND DEBT"],"source_url":"https://nebraskalegislature.gov/laws/statutes.php?statute=45-1,105","current_through":"Laws 2026","vintage":"","retrieved_at":"2026-09-17T21:01:11Z","sha256":"07757b3e3abd6da988155d52b5267087b14c0e283867743bde4daafdf79f7d50","source_id":"us-ne","stale":false,"prev":"us-ne/neb.-rev.-stat.-45-1-104","next":"us-ne/neb.-rev.-stat.-45-1-106"},"notice":"GroundRules: Original legal text. Not legal advice."}