§ 21-1414 — Application of general corporation laws

The provisions of the general corporation laws of this state, and all powers and rights thereunder, shall apply to the associations organized hereunder, except where such provisions are in conflict with or inconsistent with the express provisions of sections 21-1401 to 21-1414 ; Provided, that wherever such general corporation laws require an affirmative vote of a specified percentage of stockholders to authorize action by the corporation, such percentage for a nonstock cooperative association shall be that percentage of the votes cast on the matter at the members' meeting at which the same shall be voted upon. Any provision of law which is in conflict therewith shall not be construed as applying to any association herein provided for.

Legislative History

Source: Laws 1925, c. 80, § 14, p. 253; C.S.1929, § 24-1414; R.S.1943, § 21-1414; Laws 1977, LB 155, § 3.