70-624.04. Directors and employees; hold other elective office; interest in certain agreements; contract or agreement not void or voidable; when.
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/ne/chapter-70/70-624-04A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Directors and employees of public power districts, public power and irrigation districts, and public utility companies shall be permitted to hold other elective office as provided in section 32-604 . No contracts of any such public power district, public power and irrigation district, or public utility company shall be void or voidable by reason of such service by its directors or employees.
(2)A director of a public power and irrigation district may have an interest in a residential lease agreement or a water service agreement with such district. Such director may participate in any discussion or vote on such agreements. No agreement of such public power and irrigation district shall be void or voidable by reason of such interest by such director.
A company engaged in the transmission and distribution of natural gas to the public on a regular basis is a public utility company within the meaning of this section. Kansas-Nebraska Nat. Gas Co., Inc. v. Wiles, 190 Neb. 795, 212 N.W.2d 633 (1973).