Nebraska § 21-244 Share dividends

Nebraska Statutes

§ 21-244 — Share dividends

Nebraska·Ch. 21 Corporations and Other Companies

(MBCA 6.23) (a) Unless the articles of incorporation provide otherwise, shares may be issued pro rata and without consideration to the corporation's shareholders or to the shareholders of one or more classes or series. An issuance of shares under this subsection is a share dividend.

(b)Shares of one class or series may not be issued as a share dividend in respect of shares of another class or series unless (1) the articles of incorporation so authorize, (2) a majority of the votes entitled to be cast by the class or series to be issued approve the issue, or (3) there are no outstanding shares of the class or series to be issued.

(c)If the board of directors does not fix the record date for determining shareholders entitled to a share dividend, it is the date the board of directors author

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(MBCA 6.23) (a) Unless the articles of incorporation
provide otherwise, shares may be issued pro rata and without consideration
to the corporation's shareholders or to the shareholders of one or more classes
or series. An issuance of shares under this subsection is a share dividend.
(b) Shares of one class
or series may not be issued as a share dividend in respect of shares of another
class or series unless (1) the articles of incorporation so authorize, (2)
a majority of the votes entitled to be cast by the class or series to be issued
approve the issue, or (3) there are no outstanding shares of the class or
series to be issued.
(c)
If the board of directors does not fix the record date for determining shareholders
entitled to a share dividend, it is the date the board of directors authorizes
the share dividend.

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