21-2984. Dissolution.
131 words·~1 min read·
/ne/chapter-21/21-2984A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 .