§ 21-228 — Emergency powers

Nebraska § 21-228

• Jurisdiction: Nebraska
• Ch. 21: Corporations and Other Companies

Text

(MBCA 3.03) (a) In anticipation of or during
an emergency defined in subsection (d) of this section, the board of directors
of a corporation may:
(1) Modify lines of succession
to accommodate the incapacity of any director, officer, employee, or agent;
and
(2)
Relocate the principal office, designate alternative principal offices or
regional offices, or authorize the officers to do so.
(b) During an emergency defined in
subsection (d) of this section, unless emergency bylaws provide otherwise:
(1) Notice of a meeting
of the board of directors need be given only to those directors whom it is
practicable to reach and may be given in any practicable manner, including
by publication and radio; and
(2) One or more officers of the corporation present
at a meeting of the board of directors may be deemed to be directors for the
meeting, in order of rank and within the same rank in order of seniority,
as necessary to achieve a quorum.
(c) Corporate action taken in good faith during an
emergency under this section to further the ordinary business affairs of the
corporation:
(1)
Binds the corporation; and
(2)
May not be used to impose liability on a corporate director, officer, employee,
or agent.
(d)
An emergency exists for purposes of this section if a quorum of the corporation's
directors cannot readily be assembled because of some catastrophic event.

Legislative History

Source: Laws 2014, LB749, § 28.