Nebraska § 76-1513 - Authorized trust, defined.
Full text of Nebraska Revised Statutes of Nebraska § 76-1513 — Authorized trust, defined., with citation guidance and answers to common questions.
§ 76-1513. Authorized trust, defined.
Authorized trust shall mean a trust other than a family trust in which:
(1) The beneficiaries do not exceed twenty-five in number;
(2) The beneficiaries are all natural persons, who are not acting as a trustee or in a similar capacity for a trust as defined in section 76-1511, or persons acting in a fiduciary capacity, or nonprofit corporation; and
(3) Its income is not exempt from taxation under the laws of either the United States or the State of Nebraska, except that its income may be exempt from taxation under sections 501(c)(3) and 509(a)(3) of the Internal Revenue Code.
Frequently Asked Questions About Nebraska § 76-1513
What does Revised Statutes of Nebraska § 76-1513 cover?
Section 76-1513 ("Authorized trust, defined.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 76-1513?
A common citation format is "Revised Statutes of Nebraska § 76-1513" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 76-1513 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.