No reduction of stock shall be made except by approval of at least two-thirds of the directors. The directors, after such reduction of stock, may require such shareholder to surrender his or her stock and in lieu thereof may issue a new certificate for such number of shares as each shall be entitled to.
Neb. Rev. Stat. § 44-122
Domestic company; stock reduction; procedure
Laws 1913, c. 154, § 9, p. 400; R.S.1913, § 3145; Laws 1919, c. 190, tit
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.