Nebraska Statutes 59-1705. Seller, defined
Seller shall mean a person who sells or leases or offers to sell or lease a seller-assisted marketing plan and:
Terms Used In Nebraska Statutes 59-1705
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: shall mean any individual, corporation, partnership, limited liability company, joint venture, or business entity. See Nebraska Statutes 59-1704
- Purchaser: shall mean a person who is solicited to become obligated or does become obligated on a seller-assisted marketing plan contract. See Nebraska Statutes 59-1706
- Seller: shall mean a person who sells or leases or offers to sell or lease a seller-assisted marketing plan and:
(1) Has sold, leased, represents, or implies that the seller has sold or leased, whether in Nebraska or elsewhere, at least five seller-assisted marketing plans within twenty-four months prior to a solicitation. See Nebraska Statutes 59-1705
- Seller-assisted marketing plan: shall mean the sale or lease or offer for sale or lease of any product, equipment, supplies, services, license, or any combination thereof which will be used by or on behalf of the purchaser to begin or maintain a business when:
(1) The seller of the plan has advertised or in other manner solicited the purchase or lease of the plan. See Nebraska Statutes 59-1703
(1) Has sold, leased, represents, or implies that the seller has sold or leased, whether in Nebraska or elsewhere, at least five seller-assisted marketing plans within twenty-four months prior to a solicitation; or
(2) Intends, represents, or implies that the seller intends to sell or lease, whether in Nebraska or elsewhere, at least five seller-assisted marketing plans within twelve months following a solicitation. If the seller intends to sell four or less seller-assisted marketing plans within the time period stated in this subdivision, the seller, in order to be excluded from the provisions of the Seller-Assisted Marketing Plan Act, shall notify each purchaser in writing at the time of sale of its intention to sell only four or less seller-assisted marketing plans.