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Neb. Rev. Stat. § 21-29,123

Notice and action on plan of merger or consolidation by constituent limited cooperative association

Laws 2007, LB368, § 123; Laws 2008, LB848, § 29.

(1) Unless otherwise provided in the articles of organization or bylaws, the plan of merger or consolidation shall be approved by a majority vote of the board of directors. (2) The board of directors shall mail or otherwise transmit or deliver in a record to each member: (a) The plan of merger or consolidation; (b) A recommendation that the members approve the plan of merger or consolidation unless the board makes a determination because of conflicts of interest or other special circumstances that it should not make such a recommendation; (c) If the board makes no recommendation, the basis for that decision; (d) Any condition of its submission of the plan of merger or consolidation to the members; and (e) Notice of the meeting in the same manner as a special members' meeting.

Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.