NE LB783

Adopts the Uniform Assignment for Benefit of Creditors Act (Sections 1-26), establishing a standardized legal framework for insolvent businesses to transfer all assets to an independent assignee who liquidates them and distributes proceeds to creditors as an alternative to bankruptcy.

Requires assignees to be independent parties with no financial interest in the assignor, creditors, or outcome, and imposes fiduciary duties including loyalty, reasonable care to maximize distributions, and proper wind-up of the assignment.

Sets creditor claim deadlines between 90 and 210 days after the assignment agreement's effective date, with a priority distribution order: secured creditors first, then administrative costs, federal priority claims, wage claims (for wages earned within 180 days), and finally unsecured creditors.

Exempts property transfers under the Act from Nebraska's documentary stamp tax by amending section 76-902 to add assignments for benefit of creditors to the list of exempt transactions.

Applies to organizations with principal place of business in Nebraska, organizations governed by Nebraska law, individuals residing in Nebraska, and certain wholly or partly owned subsidiaries of such entities.