Opinion No. (1980)

REQUESTED BY: Dear Senator DeCamp:

Section 3 of LB 276 of the Eighty-sixth Nebraska Legislature, Second Session (1980), would amend Neb.Rev.Stat. 45-101.03 (Supp. 1979) to read as follows:

"Except as provided in section 45-101.04, any rate of interest which may be agreed upon, not exceeding sixteen per cent per annum on the unpaid principal balance, shall be valid upon any loan or forbearance of money, goods, or things in action and may be taken yearly, for any shorter period, or in advance, if so expressly agreed."

You note that an amendment to LB 276 appears on page 909 of the Legislative…