45-912. Licensee; duty to inform director; when; breach of security of the system; notification.
361 words·~2 min read·
/ne/chapter-45/45-912A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)A licensee shall be required to notify the director in writing through the Nationwide Mortgage Licensing System and Registry within thirty days after the occurrence of any material development, including, but not limited to:
(a)Bankruptcy or corporate reorganization;
(b)Business reorganization;
(c)Institution of license revocation procedures by any other state or jurisdiction;
(d)The filing of a criminal indictment or complaint against the licensee or any of its officers, directors, shareholders, partners, members, employees, or agents;
(e)A felony conviction against the licensee or any of the licensee's officers, directors, shareholders, partners, members, employees, or agents; or
(f)The termination of employment or association with the licensee of any of the licensee's officers, directors, shareholders, partners, members, employees, or agents for violations or suspected violations of the Delayed Deposit Services Licensing Act, any rule, regulation, or order thereunder, or any state or federal law applicable to the licensee.
(2)(a) Except as provided in subdivisions
(b)and
(c)of this subsection, a licensee shall notify the director in writing or through the Nationwide Mortgage Licensing System and Registry within three business days from the time that the licensee becomes aware of any breach of security of the system of computerized data owned or licensed by the licensee, which contains personal information about a Nebraska resident, or the unauthorized access to or use of such information about a Nebraska resident as a result of the breach.
(b)If a licensee would be required under Nebraska law to provide notification to a Nebraska resident regarding such incident, then the licensee shall provide a copy of such notification to the department prior to or simultaneously with the licensee's notification to the Nebraska resident.
(c)Notice required by this subsection may be delayed if a law enforcement agency determines that the notice will impede a criminal investigation. Notice shall be made in good faith, without unreasonable delay, and as soon as possible after the law enforcement agency determines that notification will no longer impede the investigation.
(d)For purposes of this subsection, the terms breach of the security of the system and personal information have the same meaning as in section 87-802 .