59-1746. Marketing plan contract; downpayment; conditions.
124 words·~1 min read·
/ne/chapter-59/59-1746A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the contract referred to in section 59-1741 provides for a downpayment to be paid to the seller, the downpayment shall not exceed twenty percent of the initial payment amount. In no event shall the contract payment schedule provide for the seller to receive more than twenty percent of the initial payment before delivery to the purchaser, or to the place at which they are to be located, the equipment, supplies, or products, unless all sums in excess of twenty percent are placed in an escrow account which cannot be released until the purchaser notifies the escrow agent in writing of the delivery of such equipment, supplies, or products.
Notification of delivery by the purchaser to the escrow agent shall not be unreasonably withheld.