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2021 Nebraska Revised Statutes
Chapter 21 - Corporations and Other Companies
21-516 - Associated member.

Universal Citation:
NE Code § 21-516 (2021)
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21-516. Associated member.

(a) Only a member of a series limited liability company may be an associated member of a protected series of the company.

(b) A member of a series limited liability company becomes an associated member of a protected series of the company if the operating agreement or a procedure established by the agreement states:

(1) that the member is an associated member of the protected series;

(2) the date on which the member became an associated member; and

(3) any protected-series transferable interest the associated member has in connection with becoming or being an associated member.

(c) If a person that is an associated member of a protected series of a series limited liability company is dissociated from the company, the person ceases to be an associated member of the protected series.

Source

  • Laws 2018, LB1121, ยง 17.

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