Nebraska Statutes 8-2714. Material litigation, defined
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Material litigation means any litigation that, according to generally accepted accounting principles, is deemed significant to an applicant‘s or licensee‘s financial health and would be required to be referenced in an applicant’s or licensee’s annual audited financial statements, report to shareholders, or similar documents.
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Terms Used In Nebraska Statutes 8-2714
- Applicant: means a person filing an application for a license under the Nebraska Money Transmitters Act. See Nebraska Statutes 8-2703
- Licensee: means a person licensed pursuant to the Nebraska Money Transmitters Act. See Nebraska Statutes 8-2713
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.