Nebraska Statutes 81-1,112. Gift; allocation; use; approval, required; terms or conditions
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(1) Any gift made available to the State of Nebraska for any purpose or purposes, together with the income from such gift, shall be allocated to the state agency designated by the donor or, if no state agency is designated by the donor, shall be used in accordance with Article VII, § 9, of the Constitution of Nebraska.
Terms Used In Nebraska Statutes 81-1,112
- Donor: The person who makes a gift.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
(2) Acceptance of a gift shall be subject to approval by the receiving state agency and any additional requirements provided in the State Acceptance of Gifts Act. A gift accepted subject to terms or conditions shall be held subject to those terms or conditions.