§ 8-1705 — Commodity, defined

Nebraska § 8-1705

• Jurisdiction: Nebraska
• Ch. 8: Banks and Banking

Text

(1) Commodity shall mean, except as otherwise specified by the director by rule, regulation, or order:
(a) Any agricultural, grain, or livestock product or byproduct;
(b) Any metal or mineral, including a precious metal;
(c) Any gem or gemstone, whether characterized as precious, semi-precious, or otherwise;
(d) Any fuel, whether liquid, gaseous, or otherwise;
(e) Any foreign currency; and
(f) All other goods, articles, products, or items of any kind.
(2) Commodity shall not include:
(a) A numismatic coin, the fair market value of which is at least fifteen percent higher than the value of the metal it contains;
(b) Real property or any timber, agricultural, or livestock product grown or raised on real property and offered or sold by the owner or lessee of such real property; or
(c) Any work of art offered or sold by art dealers at public auction or offered or sold through a private sale by the owner of such work.

Legislative History

Source: Laws 1987, LB 575, § 5; Laws 1993, LB 283, § 3.