Nebraska Statutes 76-1729. Sales agent; register information; bond
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A sales agent, including the developer if it is also the sales agent, shall register with the commission the time-share program or programs that it is selling, its principal office address and telephone number, and designate who its responsible managing employee is and any special escrow accounts set up for the deposit and collection of purchasers’ funds. The sales agent shall furnish evidence that a bond of five thousand dollars has been placed with a surety company or a cash bond with the commission to cover any defalcations of the sales agent.
Source
- Laws 1980, LB 945, § 29.
Terms Used In Nebraska Statutes 76-1729
- Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.