Any corporation described in section 76-3706 violating such section shall be construed and held to be a nonresident alien and within the provisions of the Foreign-owned Real Estate National Security Act applicable to nonresident aliens. Any such domestic corporation violating section 76-3706 shall forfeit its charter and be dissolved. Any such foreign corporation violating section 76-3706 shall forfeit its right to do business in the State of Nebraska.

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Terms Used In Nebraska Statutes 76-3707

  • 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.
  • Domestic: when applied to corporations shall mean all those created by authority of this state. See Nebraska Statutes 49-801
  • Foreign: when applied to corporations shall include all those created by authority other than that of this state. See Nebraska Statutes 49-801
  • 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
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