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 The emergency bylaws may be amended or repealed by the members and may make all provisions necessary for managing the […]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 […]
21-29,117 – Merger and consolidation; terms, defined.
21-29,117. Merger and consolidation; terms, defined. For purposes of sections 21-29,117 to 21-29,127: (1) Constituent limited cooperative association means a limited cooperative association that is a party to a merger or consolidation; (2) Constituent organization means an organization, other than a limited cooperative association, that is a party to a merger or consolidation; (3) Governing […]
21-29,122 – Merger or consolidation.
21-29,122. Merger or consolidation. (1) Any one or more limited cooperative associations may merge or consolidate with or into any one or more limited cooperative associations, limited liability companies, general partnerships, limited partnerships, cooperatives, or corporations, and any one or more limited liability companies, general partnerships, limited partnerships, cooperatives, or corporations may merge or consolidate […]
21-29,123 – Notice and action on plan of merger or consolidation by constituent limited cooperative association.
21-29,123. Notice and action on plan of merger or consolidation by constituent limited cooperative association. (1) Unless otherwise provided in the articles of organization or bylaws, the plan of merger or consolidation shall be approved by a majority vote of the board of directors. (2) The board of directors shall mail or otherwise transmit or […]