Neb. Rev. Stat. §§ 73-903

Current with changes through the 2024 First Special Legislative Session

Section 73-903 - Terms, defined

For purposes of the Foreign Adversary Contracting Prohibition Act:

(1) Company means any sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited liability company, or other entity or business association that exists for the purpose of making a profit, including all wholly owned subsidiaries, majority owned subsidiaries, parent companies, or affiliates of any such entity or business association;

(2) Foreign adversary means a foreign adversary as determined pursuant to 15 C.F.R. 7.4;

(3) Owned in whole or in part means:

(a) For a publicly traded company, any share of ownership that entails the ability to direct or influence the operations of the company, the ability to appoint or discharge any board members, officers, or directors, or any other rights beyond those available to a retail investor holding an equivalent share of ownership; and

(b) For a privately held company, any share of ownership;

(4) Public entity means the state or any department, agency, commission, or other body of state government, including publicly funded institutions of higher education, any political subdivision of the state, and any other public or private agency, person, partnership, corporation, or business entity acting on behalf of any such public entity;

(5) Scrutinized company means:

(a) Any company organized under the laws of a foreign adversary or having its principal place of business within a foreign adversary, and any subsidiary of any such company;

(b) Any company owned in whole or in part or operated by the government of a foreign adversary, an entity controlled by the government of a foreign adversary, or any subsidiary or parent of any such company; or

(c) Any company that sells to a public entity a final technology-related product or service that originates with a company described in subdivision (5)(a) or (b) of this section without incorporating that product or service into another final product or service; and

(6) Technology-related product or service means a product or service used for information systems, surveillance, light detection and ranging, or communications.

Neb. Rev. Stat. §§ 73-903

Laws 2024, LB 1300, § 9.

Added by Laws 2024, LB 1300,§ 9, eff. 4/17/2024.