76-3706. Corporations; board of directors; election of nonresident aliens; restrictions.
95 words·~1 min read·
/ne/chapter-76/76-3706A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.