State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter70 > 70-510

70-510. Sale, lease, or transfer; promotion expenditures; limitation.No private person, firm, association or corporation proposing to purchase, lease, or otherwise acquire any electric light and power plants, distribution system or transmission lines, from any city, village, or public electric light and power district of this state, nor any one on behalf or for the benefit of such proposed purchaser, may, in order to promote or bring about such sale, lease or transfer, pay out, contribute or expend, directly or indirectly, money or other valuable thing in excess of three thousand dollars nor, in any event, in excess of a sum in number of dollars greater than the number of the qualified voters in such municipality or public electric light and power district, based on the total vote cast for Governor at the last general election. SourceInitiative Law 1930, No. 324, § 7; Laws 1931, c. 116, § 7, p. 340; C.S.Supp.,1941, § 70-607; R.S.1943, § 70-510.AnnotationsWhere amount was paid for promotion of sale in excess of statutory amount, it was within prohibition of this section. State ex rel. Sorensen v. Southern Nebraska Power Co., 131 Neb. 472, 268 N.W. 284 (1936).