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Neb. Rev. Stat. § 21-29,124

Approval or abandonment of merger or consolidation by members of constituent limited cooperative association

Laws 2007, LB368, § 124; Laws 2008, LB848, § 30.

(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.

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