2009 Nebraska Code
Chapter 21 CORPORATIONS AND OTHER COMPANIES
21-29,124 Approval or abandonment of merger or consolidation by members of constituent limited cooperative association.
21-29,124.
Approval or abandonment of merger or consolidation by members of constituent limited cooperative association.(1) Unless the articles of organization or bylaws provide for a greater quorum and subject to section 21-2939, a plan of merger or consolidation shall be approved by at least a two-thirds vote of patron members voting under section 21-2939 and by at least a two-thirds vote of investor members, if any, voting under section 21-2942.
(2) Subject to any contractual rights, after a merger or consolidation is approved, and at any time before a filing is made under section 21-29,126, a constituent limited cooperative association may amend the plan of merger or consolidation or abandon the planned merger or consolidation:
(a) As provided in the plan; and
(b) Except as prohibited by the plan, with the same consent as was required to approve the plan.
Source-
Laws 2007, LB368, § 124;
Laws 2008, LB848, § 30.
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