248 Neb. Admin. Code, ch. 4, § 008
The holder of the certificate of title may apply to the Department, on the APPLICATION FOR RELEASE OF NOTICE ON BONDED TITLE for the release of the bond requirement and the removal of the notice that the vehicle may be subject to an undisclosed interest, if either of the following criteria is met.
Prior to the end of the three-year period, the notice may be removed if a currently valid certificate of title is surrendered to the Department for cancellation; or
At the expiration of the three-year period of the bond, the notice may be removed unless questions as to the ownership of the vehicle have been raised with the Department. Pendency of an action to recover on the bond will mean the ownership of the vehicle is unresolved.
248 Neb. Admin. Code, ch. 4, § 008