Notice Periods

"Except as otherwise provided in the Uniform Commercial Code as adopted by the state or in the lease agreement, the lessor or lessee in default under the lease contract is not entitled to notice of default or notice of enforcement from the other party to the lease agreement. NEB. UCC § 2A-502

A secured party must give a debtor and any secondary obligor notice of disposition of collateral. If the collateral is not consumer goods, then notice must be sent to other listed parties, as well. NEB. UCC § 9-611.

The notification must be within a reasonable time, and any notice sent after default and at least 10 days prior to disposition is deemed to be reasonable. NEB. UCC § 9-612.

In addition, a secured party must send notice of its proposal to accept collateral in partial or full satisfaction of an obligation. NEB. UCC § 9-621.

In a consumer credit transaction, a creditor may give the consumer notice of its default after such consumer has been in default for 10 days. Such notice of default must include notice of the consumer’s right to cure. NEB. REV. STAT. § 45-1,106.

A creditor in a consumer credit transaction may not accelerate maturity of the unpaid balance of the obligation or take possession of the collateral, unless the same is voluntarily surrendered, as the consumer has the right to cure the default for 20 days after receipt of the aforementioned notice. NEB. REV. STAT. § 45-1,107.

A borrower under the Nebraska Installment Loan Act has the same protection. NEB. REV. STAT. § 45-1051."