21-2969. Committees.
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/ne/chapter-21/21-2969A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Unless otherwise provided by the articles of organization or bylaws, a board of directors may create one or more committees and appoint one or more individuals to serve on a committee.
(2)Unless otherwise provided by the articles of organization or bylaws, an individual appointed to serve on a committee need not be a director or member of the limited cooperative association. An individual serving on a committee has the same rights, duties, and obligations as a director serving on a committee.
(3)Unless otherwise provided by the articles of organization or bylaws, each committee may exercise the powers as delegated by the board of directors except that no committee may:
(a)Approve allocations or distributions except according to a formula or method prescribed by the board of directors;
(b)Approve or propose to members action requiring approval of members; or
(c)Fill vacancies on the board of directors or any of its committees.