§ 21-272 — Voting trusts

Nebraska § 21-272

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

Text

(MBCA 7.30) (a) One or more shareholders
may create a voting trust, conferring on a trustee the right to vote or otherwise
act for them, by signing an agreement setting out the provisions of the trust,
which may include anything consistent with its purpose, and transferring their
shares to the trustee. When a voting trust agreement is signed, the trustee
must prepare a list of the names and addresses of all voting trust beneficial
owners, together with the number and class of shares each transferred to the
trust, and deliver copies of the list and agreement to the corporation's principal
office.
(b) A voting trust becomes
effective on the date the first shares subject to the trust are registered
in the trustee's name.
(c)
Limits, if any, on the duration of a voting trust shall be as set forth in
the voting trust. A voting trust that became effective when the business corporation
statutes repealed by Laws 2014, LB749, provided a ten-year limit on its duration
remains governed by the provisions of such statutes then in effect, unless
the voting trust is amended to provide otherwise by unanimous agreement of
the parties to the voting trust.

Legislative History

Source: Laws 2014, LB749, § 72.