21-29,129 – Disposition of assets.
21-29,129. Disposition of assets. Member approval by at least two-thirds of the patron members voting under section 21-2939 and by at least a two-thirds vote of the investor members, if voting, under section 21-2942, is required for a limited cooperative association to sell, lease, exchange, or otherwise dispose of all or substantially all of the […]
21-29,130 – Notice and action on disposition of assets.
21-29,130. Notice and action on disposition of assets. To dispose of assets subject to section 21-29,129: (1) The proposed disposition shall be approved by a majority vote of the board of directors unless a greater vote is required by the articles of organization or bylaws; and (2) The board of directors shall mail or otherwise […]
21-29,131 – Vote on disposition of assets.
21-29,131. Vote on disposition of assets. Disposition of assets subject to section 21-29,129 shall be consented to by: (1) At least two-thirds vote of patron members voting under section 21-2939; and (2) At least a two-thirds vote of investor members, if any, under section 21-2942. Source Laws 2007, LB368, § 131.
21-29,132 – Exemption from Securities Act of Nebraska.
21-29,132. Exemption from Securities Act of Nebraska. Member interests offered or sold by a limited cooperative association are exempt from the Securities Act of Nebraska to the extent interests offered or sold by other types of organizations are exempt under subdivision (15) of section 8-1111. Source Laws 2007, LB368, § 132. Cross References Securities Act […]
21-29,133 – Immunities, rights, and privileges.
21-29,133. Immunities, rights, and privileges. Limited cooperative associations have the same immunities, rights, and privileges provided other types of associations formed under other laws of this state and shall be exempt from those laws to the same extent, but only to the same extent, as those entities organized under the Nonstock Cooperative Marketing Act or […]
21-29,113 – Approval of amendment.
21-29,113. Approval of amendment. (1) An amendment to the articles of organization shall be approved by at least a two-thirds vote of members voting at the meeting. (2) An amendment to the bylaws shall be approved by at least a majority vote of members voting at the meeting and by at least a majority of […]
21-29,134 – Secretary of State; powers.
21-29,134. Secretary of State; powers. The Secretary of State shall have all powers reasonably necessary to perform the duties required of him or her under the Nebraska Limited Cooperative Association Act. Source Laws 2007, LB368, § 134.
21-29,114 – Vote affecting group, class, or district of members.
21-29,114. Vote affecting group, class, or district of members. Members shall vote as a separate group, if a proposed amendment affects the group, class, or district of members in: (1) The equity capital structure of the limited cooperative association, including the rights of the limited cooperative association’s members to share in profits or distributions, and […]
21-29,115 – Emergency bylaws; procedure for adoption.
21-29,115. Emergency bylaws; procedure for adoption. (1) Unless the articles of organization provide otherwise, the board of directors may adopt bylaws to be effective only in an emergency described in subsection (4) of this section. The emergency bylaws may be amended or repealed by the members and may make all provisions necessary for managing the […]
21-29,116 – Amendment or restatement of articles of organization.
21-29,116. Amendment or restatement of articles of organization. (1) To amend or restate its articles of organization, a limited cooperative association shall deliver to the Secretary of State for filing an amendment or restatement of the articles of organization stating: (a) The name of the limited cooperative association; (b) The date of filing of its […]