21-405. Existing business corporation; amend articles of incorporation; statement required; other entities; procedure.
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/ne/chapter-21/21-405A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)An existing business corporation may become a benefit corporation under the Nebraska Benefit Corporation Act by amending its articles of incorporation so that they contain, in addition to the requirements of section 21-220 , a statement that the corporation is a benefit corporation. In order to be effective, the amendment must be adopted by at least the minimum status vote.
(2)An entity that is not a benefit corporation may become a benefit corporation pursuant to subsection
(1)of this section if the entity is
(a)a party to a merger or conversion or
(b)an exchanging entity in a share exchange, and the surviving, new, or resulting entity in the merger, conversion, or share exchange is to be a benefit corporation. In order to be effective, a plan of merger, conversion, or share exchange subject to this subsection must be adopted by at least the minimum status vote.