NE LB591

Amends the Nebraska Installment Loan Act to require licenses for any person that services, holds ownership interest in, or engages with borrowers in connection with installment loans made by financial institutions

Exempts affiliates of licensees from licensing requirements when their activities are limited solely to securitization of loans, provided servicing rights are retained by the licensee or transferred to a financial institution, licensee, or permittee

Defines "affiliate" as an entity that controls, is controlled by, or is under common control with another entity, with "control" meaning ownership of 25% or more of voting shares or control of majority of directors

Allows licensees that own 50% or more equity in affiliates to apply for licenses on their behalf, pay fees, submit background checks, and handle all licensing requirements for those affiliates

Permits licensees to consolidate compliance obligations—including examinations, reporting, audits, and investigations—for affiliates they control under a single compliance framework