30-3213. Real estate investment trust, defined.
86 words·~1 min read·
/ne/chapter-30/30-3213A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For the purpose of this section and section 30-3214 real estate investment trust shall mean an unincorporated trust or an unincorporated association:
(1)Which is managed by one or more trustees;
(2)The beneficial ownership of which is evidenced by the transferable shares, or by transferable certificates of beneficial interest;
(3)Which does not hold any property primarily for sale to customers in the ordinary course of its trade or business; and
(4)The beneficial ownership of which is held by one hundred or more persons.