21-2996 – Denial of reinstatement; appeal.
21-2996. Denial of reinstatement; appeal. (1) If the Secretary of State denies a limited cooperative association’s application for reinstatement following administrative dissolution, the Secretary of State shall prepare, sign, and file a notice that explains the reason or reasons for denial and serve the limited cooperative association with a copy of the notice. (2) Within […]
21-29,112 – Change to amendment of articles of organization or bylaws at meeting.
21-29,112. Change to amendment of articles of organization or bylaws at meeting. (1) No substantive change to the proposed amendment of the articles of organization or bylaws shall be made at the members’ meeting at which the vote occurs. (2) Subject to subsection (1) of this section, any amendment of the amendment need not be […]
21-2997 – Direct action by member.
21-2997. Direct action by member. (1) Subject to subsection (2) of this section, a member may maintain a direct action against the limited cooperative association, an officer, or a director to enforce the rights and otherwise protect the interests of the member, including rights and interests under the articles of organization or bylaws. (2) A […]
21-2998 – Derivative action.
21-2998. Derivative action. A member may maintain a derivative action to enforce a right of a limited cooperative association if the member adequately represents the interests of the limited cooperative association and if: (1) The member first makes a demand on the limited cooperative association, requesting that it bring an action to enforce the right, […]
21-2999 – Proper plaintiff.
21-2999. Proper plaintiff. A derivative action may be maintained only by a person that is a member at the time the action is commenced and: (1) That was a member when the conduct giving rise to the action occurred; or (2) Whose status as a member devolved upon the person by operation of law from […]
21-29,100 – Complaint.
21-29,100. Complaint. In a derivative action, the complaint shall state with particularity: (1) The date and content of the plaintiff’s demand and the limited cooperative association’s response to the demand; and (2) If ninety days have not expired under subdivision (2) of section 21-2998, that irreparable injury to the limited cooperative association would result by […]
21-29,101 – Proceeds and expenses.
21-29,101. Proceeds and expenses. (1) Except as otherwise provided in subsection (2) of this section: (a) Any proceeds or other benefits of a derivative action, whether by judgment, compromise, or settlement, belong to the limited cooperative association and not to the derivative plaintiff; and (b) If the derivative plaintiff receives any proceeds, the derivative plaintiff […]
21-2986 – Voluntary dissolution before commencement of activity.
21-2986. Voluntary dissolution before commencement of activity. A majority of the organizers or initial directors of a limited cooperative association that has not yet begun activity or the conduct of its affairs may dissolve the limited cooperative association. Source Laws 2007, LB368, § 86.
21-2987 – Voluntary dissolution by the board and members.
21-2987. Voluntary dissolution by the board and members. In order to voluntarily dissolve: (1) A resolution to dissolve 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; (2) The board of directors shall mail or otherwise transmit or deliver […]
21-2988 – Articles of dissolution.
21-2988. Articles of dissolution. (1) A limited cooperative association that has dissolved or is about to dissolve shall deliver to the Secretary of State for filing articles of dissolution that state: (a) The name of the limited cooperative association; (b) The date that the limited cooperative association dissolved or when it will dissolve; and (c) […]