Verifiable retail value means the price (1) at which the solicitor or sponsor can demonstrate that a substantial number of prizes have been sold within the prior twelve months by a person other than the solicitor in the trade area in which the prize notice is given or (2) no more than one and one-half times the amount the solicitor or sponsor paid for the prize.

Terms Used In Nebraska Statutes 86-223

  • Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
  • Prize: means anything offered, or purportedly offered, and given, or purportedly given, to a person by chance. See Nebraska Statutes 86-217
  • Solicitor: means any person, who is not the seller offering a prize promotion, who represents to an individual that the individual has won or will receive a prize. See Nebraska Statutes 86-220
  • Sponsor: means any person on whose behalf a solicitor gives a prize but who is not the seller offering a prize promotion. See Nebraska Statutes 86-221
  • Verifiable retail value: means the price (1) at which the solicitor or sponsor can demonstrate that a substantial number of prizes have been sold within the prior twelve months by a person other than the solicitor in the trade area in which the prize notice is given or (2) no more than one and one-half times the amount the solicitor or sponsor paid for the prize. See Nebraska Statutes 86-223
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