Nebraska § 21-2105 Powers

Nebraska Statutes

§ 21-2105 — Powers

Nebraska·Ch. 21 Corporations and Other Companies

(1)A development corporation shall have all the powers granted to corporations organized under the Nebraska Model Business Corporation Act, except that it shall not give security for any loan made to it by members unless all loans to it by members are secured ratably in proportion to unpaid balances due.

(2)The restriction in subsection (1) of this section shall in no manner be construed so as to prohibit a development corporation from making unsecured borrowings from the federal Small Business Administration.

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(1) A development
corporation shall have all the powers granted to corporations organized under
the Nebraska Model Business Corporation Act, except
that it shall not give security for any loan made to it by members unless
all loans to it by members are secured ratably in proportion to unpaid balances
due.
(2) The restriction in subsection (1) of this section shall in no manner
be construed so as to prohibit a development corporation from making unsecured
borrowings from the federal Small
Business Administration.

Nebraska § 21-2105 (Powers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1967, c. 100, § 5, p. 304; Laws 1995, LB 109, § 205; Laws 2014, LB749, § 267. Cross References: Nebraska Model Business Corporation Act, see section 21-201.