76-3706. Corporations; board of directors; election of nonresident aliens; restrictions.No corporation organized under the laws of this state and no corporation organized under the laws of any other state or country, doing business in this state, which was organized to hold or is holding real estate, except as provided in the Foreign-owned Real Estate National Security Act, shall elect nonresident aliens as members of its board of directors or board of trustees in a number sufficient to constitute a majority of such board, nor elect nonresident aliens as executive officers or managers nor have a majority of its capital stock owned by nonresident aliens.Source Laws 1921, c. 142, § 1, p. 608; C.S.1922, § 5687; C.S.1929, § 76-502; Laws 1939, c. 97, § 1, p. 417; C.S.Supp.,1941, § 76-502; R.S.1943, § 76-406; Laws 1955, c. 286, § 2, p. 896; R.S.1943, (2018), § 76-406; Laws 2024, LB1301, § 9. Operative Date: January 1, 2025
Nebraska Legal Code