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Code · Nebraska · Chapter 70 — Power Districts and Corporations

70-731. Dissolution; discharge of liabilities; distribution of assets.

86 words·~1 min read·/ne/chapter-70/70-731

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Such corporation shall continue for the purpose of paying, satisfying and discharging any existing liabilities or obligations, and collecting or liquidating its assets, and doing all other acts required to adjust and wind up its business and affairs, and may sue and be sued in its corporate name. Any assets remaining, after all liabilities or obligations of the corporation have been satisfied or discharged, shall be distributed pro rata among the members of the corporation at the time of the filing of the certificate of dissolution.
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