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Code · Nebraska · Chapter 21 — Corporations and Other Companies

21-2983. Effect of dissociation as member.

96 words·~1 min read·/ne/chapter-21/21-2983

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(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.
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