reglab/housing_qa huggingface dataset:
NE Code § 21-2983 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2983 - Effect of dissociation as member.

21-2983.  Effect of dissociation as member.(1) Upon a person's dissociation as a member:(a) A person dissociated pursuant to section 21-2982 does not have further rights as a member; and(b) Subject to sections 21-2947 and 21-2948, any financial rights owned by the person in the person's capacity as a member immediately before dissociation are owned by the person as a transferee who is not admitted as a member after dissociation.(2) A person's dissociation as a member does not of itself discharge the person from any obligation to the limited cooperative association which the person incurred while a member.Source Laws 2007, LB368, § 83.
NE Code § 21-2984 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2984 - Dissolution.

21-2984.  Dissolution.Except as otherwise provided in sections 21-2986 and 21-2987, a limited cooperative association is dissolved and its activities shall be wound up only upon the occurrence of any of the following:(1) The happening of an event or the coming of a time specified in the articles of organization;(2) The action of the organizers, board of directors, or members under sections 21-2986 and 21-2987;(3) The passage of ninety days after the dissociation of a member, resulting in the limited cooperative association having less than two members, unless before the end of the period the limited cooperative association admits at least one member in accordance with its articles of organization or bylaws; or(4) The filing of a declaration by the Secretary of State under section 21-2994.Source Laws 2007, LB368, § 84.
NE Code § 21-2985 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2985 - Judicial dissolution.

21-2985.  Judicial dissolution.A district court may dissolve a limited cooperative association or order any action that under the circumstances is appropriate and equitable:(1) In a proceeding by the Attorney General, if it is established that:(a) The limited cooperative association obtained its articles of organization through fraud; or(b) The limited cooperative association has continued to exceed or abuse the authority conferred upon it by law;(2) In a proceeding by a member, if it is established that:(a) The directors are deadlocked in the management of the limited cooperative association's affairs, the members are unable to break the deadlock, and irreparable injury to the limited cooperative association is occurring or is threatened because of the deadlock;(b) The directors or those in control of the limited cooperative association have acted, are acting, or will act in a manner that is illegal, oppressive, or fraudulent;(c) The members are deadlocked in voting power and have failed, for a period that includes at least two consecutive annual members' meetings, to elect successors to directors whose terms have expired; or(d) The assets of the limited cooperative association are being misapplied or wasted; or(3) In a proceeding by the limited cooperative association to have its voluntary dissolution continued under judicial supervision.Source Laws 2007, LB368, § 85.
NE Code § 21-2986 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|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.
NE Code § 21-2987 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|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 in a record to each member:(a) The resolution required by subdivision (1) of this section;(b) A recommendation that the members vote in favor of the resolution, unless the board determines because of conflict of interest or other special circumstances it should not make such a recommendation;(c) If the board makes no recommendation, the basis of that decision; and(d) A notice of the meeting in the same manner as a special members' meeting;(3) Subject to section 21-2939, the resolution to dissolve shall be approved by at least a two-thirds vote of patron members voting at the meeting and at least two-thirds vote of investor members voting at the meeting; and(4) Unless otherwise provided in the resolution, the limited cooperative association is dissolved upon approval under subdivision (3) of this section.Source Laws 2007, LB368, § 87.
NE Code § 21-2988 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|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) Any other information it deems relevant.(2) A person has notice of a limited cooperative association's dissolution the later of ninety days after the filing of the statement or the effective date under subdivision (1)(b) of this section.Source Laws 2007, LB368, § 88.
NE Code § 21-2989 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2989 - Winding up of activities.

21-2989.  Winding up of activities.(1) A limited cooperative association continues after dissolution only for purposes of winding up its activities.(2) In winding up its activities, the limited cooperative association shall:(a) Discharge its liabilities, settle and close its activities, and marshal and distribute its assets; and(b) File articles of dissolution indicating it is winding up, preserve the limited cooperative association or its property as a going concern for a reasonable time, prosecute and defend actions and proceedings, transfer limited cooperative association property, settle disputes by mediation or arbitration, and perform other necessary acts.(3) On the application of the limited cooperative association, any member, or a holder of financial rights the district court may order judicial supervision of the winding up, including the appointment of a person to wind up the dissolved limited cooperative association's activities, if:(a) After a reasonable time, the limited cooperative association has not executed winding up under subsection (2) of this section; or(b) The applicant establishes other good cause.Source Laws 2007, LB368, § 89.
NE Code § 21-2990 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2990 - Distribution of assets in winding up limited cooperative association.

21-2990.  Distribution of assets in winding up limited cooperative association.(1) In winding up a limited cooperative association's business, unless otherwise stated in the articles of organization or bylaws, the assets of the limited cooperative association shall be applied to discharge its obligations to creditors, including members who are creditors. Any remaining assets shall be applied to pay in money the net amount distributable to members in accordance with their right to distributions under subsection (2) of this section.(2) Each member is entitled to a distribution from the limited cooperative association of any remaining assets in the proportion of the member's financial interests to the total financial interests of members of the limited cooperative association after all other obligations are satisfied.Source Laws 2007, LB368, § 90.
NE Code § 21-2991 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2991 - Known claims against dissolved limited cooperative association.

21-2991.  Known claims against dissolved limited cooperative association.(1) A dissolved limited cooperative association may dispose of the known claims against it by following the procedure described in subsection (2) of this section.(2) A dissolved limited cooperative association may notify its known claimants of the dissolution in a record. The notice shall:(a) Specify the information required to be included in a claim;(b) Provide a mailing address to which the claim is to be sent;(c) State the deadline for receipt of the claim, which may not be less than one hundred twenty days after the date the notice is received by the claimant; and(d) State that the claim will be barred if not received by the deadline.(3) A claim against a dissolved limited cooperative association is barred if the requirements of subsection (2) of this section are met and:(a) The limited cooperative association has not been notified in a record of the claim; or(b) In the case of a claim that is timely received but rejected by the dissolved limited cooperative association, the claimant does not commence an action to enforce the claim against the limited cooperative association within ninety days after the receipt of the notice of the rejection, if the notice of rejection states that the claim will be barred unless brought against the limited cooperative association within ninety days after receipt of the notice of rejection.(4) This section does not apply to a claim based on an event occurring after the date of dissolution or a liability that is contingent on that date.Source Laws 2007, LB368, § 91.
NE Code § 21-2992 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2992 - Other claims against dissolved limited cooperative association.

21-2992.  Other claims against dissolved limited cooperative association.(1) A dissolved limited cooperative association shall publish notice of its dissolution and may request persons having claims against the limited cooperative association to present them in accordance with the notice.(2) The notice shall:(a) Be published at least once in a newspaper of general circulation in the county in which the dissolved limited cooperative association's principal office is located or, if it has none in this state, in the county in which the limited cooperative association's designated office is or was last located;(b) Describe the information required to be contained in a claim and provide a mailing address to which the claim is to be sent; and(c) State that a claim against the limited cooperative association is barred unless an action to enforce the claim is commenced within three years after publication of the notice.(3) If a dissolved limited cooperative association publishes a notice in accordance with subsection (2) of this section, the claim of each of the following claimants is barred, unless the claimant commences an action to enforce the claim against the dissolved limited cooperative association within three years after the publication date of the notice:(a) A claimant that did not receive notice in a record under section 21-2991;(b) A claimant whose claim was timely sent to the dissolved limited cooperative association but not acted on; and(c) A claimant whose claim is contingent or based on an event occurring after the effective date of dissolution.(4) A claim not barred under this section may be enforced:(a) Against the dissolved limited cooperative association, to the extent of its undistributed assets; or(b) If the assets have been distributed in liquidation, against a member or transferee of financial rights to the extent of that person's proportionate share of the claim or the limited cooperative association's assets distributed to the member or transferee in liquidation, whichever is less, but a person's total liability for all claims under this subsection does not exceed the total amount of assets distributed to the person as part of the winding up of the dissolved limited cooperative association.Source  Laws 2007, LB368, § 92;  Laws 2008, LB848, § 25.
NE Code § 21-2993 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2993 - Court proceeding.

21-2993.  Court proceeding.(1) A dissolved limited cooperative association that has published a notice under section 21-2991 or 21-2992 may file an application with the district court where the dissolved limited cooperative association's principal office is located for a determination of the amount and form of security to be provided for payment of claims that are contingent or have not been made known to the dissolved limited cooperative association or that are based on an event occurring after the effective date of dissolution but that, based on the facts known to the dissolved limited cooperative association, are reasonably estimated to arise after the effective date of dissolution.(2) Notice of the proceeding shall be given by the dissolved limited cooperative association to each known claimant holding a contingent claim within ten days after the filing of the application of the limited cooperative association.(3) The court may appoint a receiver to represent all claimants whose identities are unknown in any proceeding brought under this section. The reasonable fees and expenses of such receiver, including all reasonable expert witness fees, shall be paid by the dissolved limited cooperative association.(4) Provision by the dissolved limited cooperative association for security in the amount and the form ordered by the court under section 21-2992 shall satisfy the dissolved limited cooperative association's obligations with respect to claims that are contingent, have not been made known to the dissolved limited cooperative association, or are based on an event occurring after the effective date of dissolution, and such claims may not be enforced against a member who received a distribution.Source Laws 2007, LB368, § 93.
NE Code § 21-2994 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2994 - Administrative dissolution.

21-2994.  Administrative dissolution.(1) The Secretary of State may dissolve a limited cooperative association administratively if the limited cooperative association does not, within sixty days after the due date:(a) Pay any fee, tax, or penalty due to the Secretary of State under the Nebraska Limited Cooperative Association Act or other law;(b) Deliver its biennial report to the Secretary of State;(c) Have a registered agent or registered office in this state; or(d) Notify the Secretary of State that its registered agent or registered office has been changed, that its registered agent has resigned, or that its registered office has been discontinued.(2) If the Secretary of State determines that a ground exists for administratively dissolving a limited cooperative association, the Secretary of State shall file a record of the determination and serve the limited cooperative association with a copy of the filed record.(3) If, within sixty days after service of the copy, the limited cooperative association does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the Secretary of State that each uncorrected ground determined by the Secretary of State does not exist, the Secretary of State shall administratively dissolve the limited cooperative association by preparing, signing, and filing a declaration of dissolution that states the grounds for dissolution. The Secretary of State shall serve the limited cooperative association with a copy of the filed declaration.(4) A limited cooperative association administratively dissolved continues its existence but may carry on only activities necessary to wind up its activities and liquidate its assets under sections 21-2989 and 21-2990 and to notify claimants under sections 21-2991 and 21-2992.(5) The administrative dissolution of a limited cooperative association does not terminate the authority of its agent for service of process.Source Laws 2007, LB368, § 94.
NE Code § 21-2996 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|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 thirty days after service of the notice of denial, the limited cooperative association may appeal the denial of reinstatement by petitioning the district court to set aside the dissolution. The petition shall be served on the Secretary of State and contain a copy of the Secretary of State's declaration of dissolution, the limited cooperative association's application for reinstatement, and the Secretary of State's notice of denial.(3) The court may summarily order the Secretary of State to reinstate the dissolved limited cooperative association or may take other action the court considers appropriate.Source Laws 2007, LB368, § 96.
NE Code § 21-2997 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|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 member maintaining a direct action under this section is required to plead and prove an actual or threatened injury that is not solely the result of an injury suffered or threatened to be suffered by the limited cooperative association.Source Laws 2007, LB368, § 97.
NE Code § 21-2998 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|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, and the limited cooperative association does not bring the action within a reasonable time; and(2) Ninety days have expired after the date the demand was made unless the member has earlier been notified that the demand has been rejected by the limited cooperative association or unless irreparable injury to the limited cooperative association would result by waiting for the expiration of the time.Source Laws 2007, LB368, § 98.
NE Code § 21-2999 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|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 a person that was a member at the time of the conduct.Source Laws 2007, LB368, § 99.
NE Code § 21-29,100 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|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 waiting for the expiration of the time.Source Laws 2007, LB368, § 100.
NE Code § 21-29,101 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|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 shall immediately remit them to the limited cooperative association.(2) If a derivative action is successful, in whole or in part, the court may award the plaintiff reasonable expenses, including reasonable attorney's fees, from the recovery of the limited cooperative association.Source Laws 2007, LB368, § 101.
NE Code § 21-29,102 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-29,102 - Governing law.

21-29,102.  Governing law.(1) The laws of the state or other jurisdiction under which a foreign limited cooperative association is organized govern relations among the members of the foreign limited cooperative association and between the members and the foreign limited cooperative association.(2) A foreign limited cooperative association shall not be denied a certificate of authority by reason of any difference between the laws of the jurisdiction under which the foreign limited cooperative association is organized and the laws of this state.(3) A certificate of authority does not authorize a foreign limited cooperative association to engage in any activity or exercise any power that a limited cooperative association cannot engage in or exercise in this state.Source Laws 2007, LB368, § 102.
NE Code § 21-29,103 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-29,103 - Application for certificate of authority.

21-29,103.  Application for certificate of authority.(1) A foreign limited cooperative association may apply for a certificate of authority to transact business in this state by delivering an application to the Secretary of State for filing. The application shall state:(a) The name of the foreign limited cooperative association and, if the name does not comply with section 21-2908, an alternative name adopted pursuant to section 21-29,106;(b) The name of the state or other jurisdiction under whose law the foreign limited cooperative association is organized;(c) The street and mailing addresses of the foreign limited cooperative association's designated office and, if the laws of the jurisdiction under which the foreign limited cooperative association is organized require the foreign limited cooperative association to maintain an office in that jurisdiction, the street and mailing addresses of the required office;(d) The name and street and mailing addresses of the foreign limited cooperative association's agent for service of process in this state; and(e) The name and street and mailing addresses of each of the foreign limited cooperative association's current directors and officers.(2) A foreign limited cooperative association shall deliver with the completed application a certificate of good standing or existence or a similar record signed by the Secretary of State or other official having custody of the foreign limited cooperative association's publicly filed records in the state or other jurisdiction under whose law the foreign limited cooperative association is organized.Source Laws 2007, LB368, § 103.