Nebraska Statutes 2-3326. Legislative intent
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(1) It is the intent of the Legislature to encourage the formation of a private nonprofit corporation which meets the criteria of the federal Soybean Promotion, Research, and Consumer Information Act of 1990, 7 U.S.C. § 6301 et seq., as a qualified state soybean board to continue Nebraska’s soybean industry development program and to take over from the Soybean Development, Utilization, and Marketing Board the duties of the qualified state soybean board under the federal act.
Terms Used In Nebraska Statutes 2-3326
- 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.
- 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) It is the intent of the Legislature that a smooth transition of Nebraska’s soybean development program from the Soybean Development, Utilization, and Marketing Board to the private nonprofit corporation be made.