reglab/housing_qa huggingface dataset:
NE Code § 21-2935 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2935 - Special members' meetings.

21-2935.  Special members' meetings.(1) Special members' meetings shall be called:(a) As provided in the articles of organization or bylaws;(b) By a majority vote of the board of directors;(c) By demand in a record signed by members holding at least twenty percent of the votes of any class or group entitled to be cast on the matter that is the purpose of the meeting; or(d) By demand in a record signed by members holding at least twenty percent of all votes entitled to be cast on the matter that is the purpose of the meeting.(2) Any voting member may withdraw its demand under this section before the receipt by the limited cooperative association of demands sufficient to require a special members' meeting.(3) A special members' meeting may be held in or out of this state at the place stated in the articles of organization or bylaws or by the board of directors in accordance with the articles of organization or bylaws.(4) Only affairs within the purpose or purposes stated pursuant to subsection (2) of section 21-2965 may be conducted at a special members' meeting.(5) Unless otherwise provided by the articles of organization or bylaws, the presiding officer of the meeting shall be designated by the board of directors.Source  Laws 2007, LB368, § 35;  Laws 2008, LB848, § 7.
NE Code § 21-2936 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2936 - Notice of members' meetings.

21-2936.  Notice of members' meetings.(1) The limited cooperative association shall notify each member of the time, date, and place of any annual or special members' meeting not less than ten nor more than fifty days before the meeting.(2) Unless the articles of organization or bylaws otherwise provide, notice of an annual members' meeting need not include a description of the purpose or purposes of the meeting.(3) Notice of a special members' meeting shall include a description of the purpose or purposes of the meeting as contained in the demand under section 21-2935 or as voted upon by the board of directors under such section.Source Laws 2007, LB368, § 36.
NE Code § 21-2937 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2937 - Waiver of members' meeting notice.

21-2937.  Waiver of members' meeting notice.(1) A member may waive notice of any meeting of the members either before, during, or after the meeting.(2) A member's participation in a meeting is waiver of notice of that meeting unless the member objects to the meeting at the beginning of the meeting or promptly upon arrival at the meeting and does not thereafter vote for or assent to action taken at the meeting.Source Laws 2007, LB368, § 37.
NE Code § 21-2938 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2938 - Quorum.

21-2938.  Quorum.Unless the articles of organization or bylaws provide otherwise, ten percent, but not less than five nor more than fifty of the members, need to be present at an annual or special members' meeting to constitute a quorum.Source Laws 2007, LB368, § 38.
NE Code § 21-2939 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2939 - Voting by patron members; voting by investor members.

21-2939.  Voting by patron members; voting by investor members.(1) Each patron member has one vote, but the articles of organization or bylaws may provide additional voting power to members on the basis of patronage under section 21-2941 and may provide for voting by district, group, or class under section 21-2956.(2) If the articles of organization provide for investor members, each investor member has one vote, unless the articles of organization or bylaws otherwise provide. The articles of organization or bylaws may provide for the allocation of investor member voting power by class, classes, or any combination of classes.(3) If a limited cooperative association has both patron and investor members:(a) The aggregate voting power of all patron members shall not be less than fifty-one percent of the entire voting power entitled to vote, but the articles of organization or bylaws may reduce the collective voting power of patron members to not less than fifteen percent of the entire voting power entitled to vote; and(b) The entire aggregate voting power of patron members shall be voted as determined by the majority vote of patron members voting at the members' meeting.Source  Laws 2007, LB368, § 39;  Laws 2008, LB848, § 8.
NE Code § 21-2940 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2940 - Action without a meeting.

21-2940.  Action without a meeting.(1) Unless otherwise provided by the articles of organization or bylaws, any action that may be taken by the members may be taken without a meeting if each member entitled to vote on such action consents to the action in a record.(2) Consent may be withdrawn by a member in a record at any time before the limited cooperative association receives a consent from each member entitled to vote.(3) The consent record of any action may specify the effective date or time of the action.Source Laws 2007, LB368, § 40.
NE Code § 21-2941 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2941 - Determination of voting power of patron member.

21-2941.  Determination of voting power of patron member.The articles of organization or bylaws may provide additional voting power be allocated for each patron member for:(1) Actual, estimated, or potential patronage or any combination thereof;(2) Equity allocated or held by a patron member in the limited cooperative association; or(3) Any combination of subdivisions (1) and (2) of this section.Source Laws 2007, LB368, § 41.
NE Code § 21-2942 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2942 - Voting by investor members.

21-2942.  Voting by investor members.If the articles of organization or bylaws provide for investor members, each investor member has one vote except as otherwise provided by the articles of organization or bylaws.Source Laws 2007, LB368, § 42.
NE Code § 21-2943 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2943 - Manner of voting.

21-2943.  Manner of voting.(1) Proxy voting by members is prohibited.(2) Delegate voting based upon geographical district, group, or class is not voting by proxy under this section.(3) The articles of organization or bylaws may provide for member voting by secret ballot delivered by mail or other means.(4) The articles of organization or bylaws may provide for members to attend meetings or conduct members' meetings through the use of any means of communication, if all members attending the meeting can simultaneously communicate with each other during the meeting.Source Laws 2007, LB368, § 43.
NE Code § 21-2944 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2944 - Districts and delegates; classes of members.

21-2944.  Districts and delegates; classes of members.(1) The articles of organization or bylaws may provide:(a) For the formation of districts and the conduct of members' meetings by districts and that elections of directors may be held at district meetings; or(b) That districts may elect district delegates to represent and vote for the district in annual and special meetings of members.(2) A delegate selected under subdivision (1)(b) of this section has one vote subject to subsection (3) of this section.(3) The articles of organization or bylaws may provide additional voting power be allocated to each district, group, or class or delegate for the aggregate of the number of patron members in each district, group, or class as provided under section 21-2941.Source Laws 2007, LB368, § 44.
NE Code § 21-2945 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2945 - Member interest.

21-2945.  Member interest.A member's interest:(1) Consists of: (a) Governance rights; (b) financial rights; and (c) the right or obligation, if any, to do business with the limited cooperative association;(2) Is personal property; and(3) May be in certificated or uncertificated form.Source  Laws 2007, LB368, § 45;  Laws 2008, LB848, § 9.
NE Code § 21-2946 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2946 - Patron and investor member interests.

21-2946.  Patron and investor member interests.(1) Subject to subsection (2) of this section, member interests shall be patron member interests.(2) The articles of organization or bylaws may establish investor member interests.Source Laws 2007, LB368, § 46.
NE Code § 21-2947 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2947 - Transferability of member interest.

21-2947.  Transferability of member interest.(1) Unless otherwise provided in the articles of organization or bylaws and subject to subsection (2) of this section, member interests are not transferable. The terms of the restriction on transferability shall be set forth in the limited cooperative association articles of organization or bylaws, the member records of the limited cooperative association, and shall be conspicuously noted on any certificates evidencing a member's interest.(2) A member may transfer its financial rights in the limited cooperative association unless the transfer is restricted or prohibited by the articles of organization or bylaws.(3) The transferee of a member's financial rights has, to the extent transferred, the right to share in the allocation of surplus, profits, or losses and to receive the distributions to the member transferring the interest.(4) The transferee does not become a member upon transfer of a member's financial rights unless it is admitted as a member by the limited cooperative association.(5) A limited cooperative association need not give effect to a transfer under this section until the limited cooperative association has notice of the transfer.(6) A transfer of a member's financial rights in violation of a restriction or prohibition on transfer contained in the articles of organization or bylaws is void.Source Laws 2007, LB368, § 47.
NE Code § 21-2948 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2948 - Security interest.

21-2948.  Security interest.(1) An investor member or transferee may grant a security interest in financial rights in a limited cooperative association, but not in the governance rights in such association.(2) A patron member shall not grant a security interest in financial rights or governance rights in a limited cooperative association.(3) The granting of a security interest in financial rights is not considered a transfer for purposes of section 21-2947. Upon foreclosure of a security interest in financial rights a person obtaining the financial rights shall only obtain financial rights subject to the security interest and shall not obtain any governance rights or other rights with respect to the limited cooperative association.(4) The limitation of this section to financial rights shall not apply in the case of a member interest that is not subject to a restriction or prohibition on transfer under the articles of organization or bylaws.Source Laws 2007, LB368, § 48.
NE Code § 21-2949 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2949 - Marketing contract, defined; authority.

21-2949.  Marketing contract, defined; authority.In this section and sections 21-2950 to 21-2952, marketing contract means a contract between a limited cooperative association and another person that need not be a patron member:(1) Requiring the other person to sell, or deliver for sale or marketing on the person's behalf, a specified part of the person's products, commodities, or goods exclusively to or through the limited cooperative association or any facilities furnished by the association; or(2) Authorizing the limited cooperative association to act for the person in any manner with respect to the products, commodities, or goods.Source  Laws 2007, LB368, § 49;  Laws 2008, LB848, § 10.
NE Code § 21-2950 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2950 - Marketing contract.

21-2950.  Marketing contract.(1) If a marketing contract provides for the sale of products, commodities, or goods to a limited cooperative association, the sale transfers title absolutely, except for security interests properly perfected, to the association upon delivery or at any other specific time expressly provided by the contract.(2) A marketing contract may:(a) Authorize a limited cooperative association to create an enforceable security interest in the products, commodities, or goods delivered; and(b) Allow the limited cooperative association to sell the products, commodities, or goods delivered and pay the sales price on a pooled or other basis after deducting selling costs, processing costs, overhead, expenses, and other charges.Source  Laws 2007, LB368, § 50;  Laws 2008, LB848, § 11.
NE Code § 21-2951 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2951 - Duration of marketing contract; termination.

21-2951.  Duration of marketing contract; termination.The initial duration of a marketing contract may not exceed ten years, but the contract may be made self-renewing for additional periods not exceeding five years each. Unless the contract provides for another manner or time for termination, either party may terminate the contract by giving notice in a record at least ninety days before the end of the current term.Source  Laws 2007, LB368, § 51;  Laws 2008, LB848, § 12.
NE Code § 21-2952 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2952 - Remedies for breach or anticipating repudiation of contract.

21-2952.  Remedies for breach or anticipating repudiation of contract.(1) A marketing contract may liquidate damages to be paid to a limited cooperative association for a breach or anticipatory repudiation of the marketing contract but only at an amount or at a formula that is reasonable in light of the actual or then anticipated harm caused by the breach or to be caused by the anticipatory repudiation. The provision may be enforced as liquidated damages and is not to be considered a penalty.(2) If there is a breach or anticipatory repudiation of a marketing contract, the limited cooperative association may seek an injunction to prevent the further breach or an anticipatory repudiation of the contract and the specific performance of the contract.(3) In the case of a marketing contract between a limited cooperative association and a patron member, the articles of organization or bylaws may also provide additional remedies for the remedies under subsections (1) and (2) of this section.(4) Nothing in this section shall restrict a limited cooperative association from seeking any other remedy at law or equity in the enforcement of a marketing contract.Source  Laws 2007, LB368, § 52;  Laws 2008, LB848, § 13.
NE Code § 21-2953 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2953 - Existence and powers of board of directors.

21-2953.  Existence and powers of board of directors.(1) A limited cooperative association shall have a board of directors consisting of three or more directors as set forth in the articles of organization or bylaws unless the number of members is less than three. If there are fewer than three members, the number of directors shall not be less than the number of members in the limited cooperative association.(2) The affairs of the limited cooperative association shall be managed by, or under the direction of, the board of directors. The board of directors may adopt policies and procedures that are not in conflict with the articles of organization, the bylaws, and the Nebraska Limited Cooperative Association Act.(3) A director does not have agency authority on behalf of the limited cooperative association solely by being a director.Source  Laws 2007, LB368, § 53;  Laws 2008, LB848, § 14.
NE Code § 21-2954 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2954 - No liability as director for limited cooperative association's obligations.

21-2954.  No liability as director for limited cooperative association's obligations.An obligation of a limited cooperative association, whether arising in contract, tort, or otherwise, is not the obligation of a director. A director is not personally liable, directly or indirectly, by way of contribution or otherwise, for an obligation of the limited cooperative association solely by reason of being a director.Source Laws 2007, LB368, § 54.
NE Code § 21-2955 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2955 - Qualifications of directors and composition of board.

21-2955.  Qualifications of directors and composition of board.(1) A director shall be an individual or individual representative of a member that is not an individual.(2) The articles of organization or bylaws may provide for qualification of directors subject to this section.(3) Except as otherwise provided in the articles of organization or bylaws and subject to subsections (4) and (5) of this section, each director shall be a member of the limited cooperative association or a designee of a member that is not an individual.(4) Unless otherwise provided in the articles of organization or bylaws, a director may be an officer or employee of the limited cooperative association.(5) If the limited cooperative association is permitted to have nonmember directors by its articles of organization or bylaws, the number of nonmember directors shall not exceed:(a) One director, if there are two, three, or four directors; and(b) One-fifth of the total number of directors, if there are five or more directors.Source  Laws 2007, LB368, § 55;  Laws 2008, LB848, § 15.
NE Code § 21-2956 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2956 - Election of directors.

21-2956.  Election of directors.(1) At least fifty percent of the board of directors of a limited cooperative association shall be elected exclusively by patron members.(2) Subject to the provisions of subsection (1) of this section, the articles of organization or bylaws may provide for the election of all or a specified number of directors by the holders of one or more groups of classes of members' interests.(3) Subject to the provisions of subsection (1) of this section, the articles of organization or bylaws may provide for the nomination or election of directors by geographic district directly or by district delegates.(4) Cumulative voting is prohibited unless otherwise provided in the articles of organization or bylaws.(5) Except as otherwise provided by the articles of organization, bylaws, or section 21-2961, member directors shall be elected at an annual members' meeting.(6) Nonmember directors shall be elected in the same manner as member directors unless the articles of organization or bylaws provide for a different method of selection.Source  Laws 2007, LB368, § 56;  Laws 2008, LB848, § 16.
NE Code § 21-2957 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2957 - Term of director.

21-2957.  Term of director.(1) A director's term expires at the annual members' meeting following the director's election unless otherwise provided in the articles of organization or bylaws. The term of a director shall not exceed three years.(2) Unless otherwise provided in the articles of organization or bylaws, a director may be reelected for subsequent terms.(3) A director continues to serve as director until a successor director is elected and qualified or until the director is removed, resigns, or dies.Source Laws 2007, LB368, § 57.
NE Code § 21-2958 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2958 - Resignation of director.

21-2958.  Resignation of director.(1) A director may resign at any time by giving notice in a record to the limited cooperative association.(2) A resignation is effective when notice is received by the limited cooperative association unless the notice states a later effective date.Source Laws 2007, LB368, § 58.
NE Code § 21-2959 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2959 - Removal of director.

21-2959.  Removal of director.Unless the articles of organization or bylaws otherwise provide, the following rules apply:(1) Members may remove a director with or without cause;(2) A member or members holding at least twenty-five percent of the total voting power entitled to be voted in the election of the director may demand removal of a director by a signed petition submitted to the officer of the limited cooperative association charged with keeping its records;(3) Upon receipt of a petition for removal of a director, an officer or the board of directors shall:(a) Call a special members' meeting to be held within ninety days after receipt of the petition by the association; and(b) Mail or otherwise transmit or deliver in a record to the members entitled to vote on the removal notice of the meeting which complies with section 21-2936;(4) A director against whom a petition has been submitted shall be informed in a record of the petition within a reasonable time before the members' meeting at which the members consider the petition; and(5) A director is removed if the votes in favor of removal are equal to or greater than the votes required to elect the director.Source  Laws 2007, LB368, § 59;  Laws 2008, LB848, § 17.
NE Code § 21-2960 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2960 - Suspension of director by board.

21-2960.  Suspension of director by board.(1) The board of directors may suspend a director, if, considering the director's course of conduct and the inadequacy of other available remedies, immediate suspension is necessary for the best interests of the limited cooperative association and the director is engaged in:(a) Fraudulent conduct with respect to the limited cooperative association or its members;(b) Gross abuse of the position of the director;(c) Intentional infliction of harm on the limited cooperative association; or(d) Any other behavior, act, or omission as provided by the articles of organization or bylaws.(2) A suspension under subsection (1) of this section is effective for thirty days unless the board of directors calls and gives notice of a special members' meeting for removal of the director before the end of the thirty-day period in which case the suspension is effective until adjournment of the special meeting or the director is removed.(3) After suspension, a director may be removed pursuant to section 21-2959.Source  Laws 2007, LB368, § 60;  Laws 2008, LB848, § 18.
NE Code § 21-2961 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-2961 - Vacancy on board.

21-2961.  Vacancy on board.(1) Unless the articles of organization or bylaws otherwise provide, a vacancy on the board of directors shall be filled:(a) By majority vote of the remaining directors until the next annual members' meeting or special members' meeting held for that purpose; and(b) For the unexpired term by members at the next annual members' meeting or special members' meeting called for that purpose.(2) If the vacating director was elected by a group or class of members or by group, class, or district:(a) The appointed director shall be of that group, class, or district; and(b) The election of the director for the unexpired term shall be conducted in the same manner as would the election for that position without a vacancy.Source Laws 2007, LB368, § 61.