Nebraska § 21-1301 Cooperative corporation; formation;
general purposes and powers; exceptions; action by cooperative corporation;
vote required

Nebraska Statutes

§ 21-1301 — Cooperative corporation; formation; general purposes and powers; exceptions; action by cooperative corporation; vote required

Nebraska § 21-1301

Ch. 21Corporations and Other Companies

This text of Nebraska § 21-1301 (Cooperative corporation; formation; general purposes and powers; exceptions; action by cooperative corporation; vote required) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 21-1301 (2026).

Text

Any number of persons, not less than ten,
or one or more cooperative companies, may form and organize a cooperative
corporation for the transaction of any lawful business by the adoption of
articles of incorporation in the same manner and with like powers and duties
as is required of other corporations except as provided in sections  21-1301 
to  21-1306 . Nothing in sections  21-1301  and  21-1303  shall be deemed to apply
to electrical cooperatives or electric member associations. If the Nebraska Model Business Corporation Act requires
an affirmative vote of a specified percentage of stockholders before action
can be taken by a corporation, such percentage for a cooperative corporation
shall be of the votes cast on the matter at the stockholders' meeting at which
the same shall be voted 

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Any number of persons, not less than ten,
or one or more cooperative companies, may form and organize a cooperative
corporation for the transaction of any lawful business by the adoption of
articles of incorporation in the same manner and with like powers and duties
as is required of other corporations except as provided in sections 21-1301
to 21-1306 . Nothing in sections 21-1301 and 21-1303 shall be deemed to apply
to electrical cooperatives or electric member associations. If the Nebraska Model Business Corporation Act requires
an affirmative vote of a specified percentage of stockholders before action
can be taken by a corporation, such percentage for a cooperative corporation
shall be of the votes cast on the matter at the stockholders' meeting at which
the same shall be voted upon.

Legislative History

Source: Laws 1911, c. 32, § 2, p. 196; R.S.1913, § 734; Laws 1919, c. 197, § 3, p. 879; Laws 1921, c. 28, § 1, p. 161; C.S.1922, § 642; Laws 1925, c. 79, § 1, p. 243; C.S.1929, § 24-1301; R.S.1943, § 21-1301; Laws 1963, c. 102, § 1, p. 422; Laws 1975, LB 156, § 1; Laws 1995, LB 109, § 203; Laws 2014, LB749, § 262. Cross References: Nebraska Model Business Corporation Act, see section 21-201. Transactions exempt from Securities Act of Nebraska, see section 8-1111. Annotations: Organization of cooperative association as a corporation is authorized. Schmeckpeper v. Panhandle Coop. Assn., 180 Neb. 352, 143 N.W.2d 113 (1966). Farmers' cooperative company organized under this article is not necessarily exempt from federal income tax. Farmers Union Co-op. Co. of Guide Rock v. Commissioner of Internal Revenue, 90 F.2d 488 (8th Cir. 1937).