Purchase shall include taking by sale, discount, negotiation, or any other transaction for value creating an interest in property except liens. Purchase shall not include transfers for stock or other ownership interests upon creation, dissolution, or any other tax-free reorganization for income tax purposes of any corporation, partnership, limited liability company, trust, or other entity.

Source

  • Laws 1992, LB 1063, § 51;
  • Laws 1992, Second Spec. Sess., LB 1, § 49;
  • Laws 1993, LB 121, § 493.

Terms Used In Nebraska Statutes 77-122

  • Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Purchase: shall include taking by sale, discount, negotiation, or any other transaction for value creating an interest in property except liens. See Nebraska Statutes 77-122
  • Purchase shall: include taking by sale, discount, negotiation, or any other transaction for value creating an interest in property except liens. See Nebraska Statutes 77-122