Nebraska Statutes 59-1727. Marketing plan; buy-back or security investment provision; invoked; entitlement
Upon invocation of the buy-back or security investment provision under section 59-1726, the minimum amount a purchaser shall be entitled to have returned to him or her is the full amount of his or her initial payment, less the money actually received by him or her from the operation of the seller-assisted marketing plan. The amount actually received shall be either the amount the purchaser actually obtained from the seller for any product resold to the seller or the amount of money the general public pays for use of the purchaser’s product, equipment, supplies, or services, less any amount the purchaser has paid the owner or manager of the location at which the purchaser’s products, equipment, supplies, or services are placed.
Terms Used In Nebraska Statutes 59-1727
- Equipment: shall mean machines, all electrical devices, video or audio devices, molds, display racks, vending machines, coin-operated game machines, machines which dispense products, and display units of all kinds. See Nebraska Statutes 59-1707
- Initial payment: shall mean the total amount a purchaser is obligated to pay under the terms of the seller-assisted marketing plan contract prior to or at the time of delivery of the equipment, supplies, products, or services or within six months of the purchaser commencing operation of the seller-assisted marketing plan. See Nebraska Statutes 59-1712
- Product: shall mean any tangible chattel, including food or living animals, which the purchaser intends to:
(1) Sell or lease to the general public. See Nebraska Statutes 59-1709
- 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
- Services: shall mean any assistance, guidance, direction, work, labor, or services provided by the seller to initiate or maintain the seller-assisted marketing plan. See Nebraska Statutes 59-1710
- Supplies: shall mean any and all materials used to produce, grow, breed, or make any product or item. See Nebraska Statutes 59-1708