Public-domain · open source
OpenJurist

Neb. Rev. Stat. § 21-29,130

Notice and action on disposition of assets

Laws 2007, LB368, § 130.

To dispose of assets subject to section 21-29,129 : (1) The proposed disposition shall be approved by a majority vote of the board of directors unless a greater vote is required by the articles of organization or bylaws; and (2) The board of directors shall mail or otherwise transmit or deliver in a record to each member notice of a special meeting of the members as required by section 21-2935 that sets forth: (a) The terms of the proposed disposition; (b) A recommendation that the members approve the disposition unless the board determines because of conflict of interest or other special circumstances it should not make such a recommendation; (c) If the board makes no recommendation, the basis of that decision; (d) Any condition of its submission of the proposed disposition to the members; and (e) Notice of the meeting in the same manner as a special members' meeting under sections 21-2935 and 21-2936 .

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