NE LB473

Amends the Nebraska Money Transmitters Act to align with the Model Money Transmission Modernization Act, establishing nationwide standards for licensing, net worth requirements, surety bonds, and permissible investments for money transmitters

Requires licensees to maintain minimum net worth of $100,000 or 3% of total assets (up to $1 billion), with surety bonds ranging from $100,000 to $500,000 based on average daily money transmission liability

Establishes detailed requirements for permissible investments including cash, certificates of deposit, government obligations, and irrevocable letters of credit, held in statutory trust for customer protection in case of licensee insolvency

Adds comprehensive provisions for authorized delegates including written contract requirements, trust obligations for customer funds, prohibition on subdelegates, and grounds for suspension or revocation of delegate designation

Becomes operative October 1, 2025, and repeals sections 8-2743 through 8-2747 of existing statute while consolidating definitions and regulatory provisions into updated sections