85-1647. Lending agency; evidence of indebtedness; marked, Student Loan; liability.Any lending agency extending credit or lending money to any person for tuition, fees, or charges whatever of a private postsecondary career school for educational or other services or facilities to be rendered or furnished by the school shall cause any note, instrument, or other evidence of indebtedness taken in connection with such loan or extension of credit to be conspicuously marked, on the face thereof, Student Loan. If such lending agency fails to do so, it shall be liable for any loss or damage suffered or incurred by any subsequent assignee, transferee, or holder of such evidence of indebtedness on account of the absence of such notation.Source Laws 1977, LB 486, § 51; Laws 1990, LB 488, § 46; R.S.1943, (1994), § 79-2851; Laws 1995, LB 4, § 47.
Nebraska Legal Code