(1) Except as provided in subsection (2) of this section, any nonresident alien, foreign corporation, government other than the United States Government or a government of its states, political subdivisions, territories, or possessions, or agent, trustee, or fiduciary thereof:

(a) May purchase, acquire, hold title to, or be a lessor or lessee of as much real estate as shall be necessary for the purpose of (i) erecting on such real estate manufacturing or industrial establishments, and in addition thereto such real estate as may be required for facilities incidental to such establishments, or (ii) erecting and maintaining establishments primarily operated for the storage, sale, and distribution of petroleum products or hydrocarbon substances, commonly known as filling stations or bulk stations; and

(b) Shall not expand establishments or facilities purchased, acquired, held, or leased pursuant to subdivision (1)(a) of this section or build new such establishments or facilities if a restricted entity or an agent, trustee, or fiduciary thereof.

(2) A restricted entity, or an agent, trustee, or fiduciary thereof, shall not purchase, acquire, hold title to, or be a lessor or lessee of real estate pursuant to subdivision (1)(a) of this section unless such restricted entity has a national security agreement with the Committee on Foreign Investment in the United States as of January 1, 2025, maintains such national security agreement, and certifies the validity of such national security agreement annually to the Department of Agriculture within thirty days after January 1, 2025, and on or before January 15 of each year thereafter.

(3) A restricted entity that violates this section shall be in violation of the Foreign-owned Real Estate National Security Act and subject to divestment as prescribed under section 76-3712.