Nebraska § 21-284 Requirement for and functions of board
of directors

Nebraska Statutes

§ 21-284 — Requirement for and functions of board of directors

Nebraska·Ch. 21 Corporations and Other Companies

(MBCA 8.01) (a) Except as provided in section 21-274 , each corporation must have a board of directors.

(b)All corporate powers shall be exercised by or under the authority of the board of directors of the corporation, and the business and affairs of the corporation shall be managed by or under the direction and subject to the oversight of its board of directors, subject to any limitation set forth in the articles of incorporation or in an agreement authorized under section 21-274 .

(c)In the case of a public corporation, the board's oversight responsibilities include attention to:

(1)Business performance and plans;

(2)Major risks to which the corporation is or may be exposed;

(3)The performance and compensation of senior officers;

(4)Policies and practices to foster the corporatio

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(MBCA
8.01) (a) Except as provided in section 21-274 , each corporation must have
a board of directors.
(b) All corporate powers
shall be exercised by or under the authority of the board of directors of
the corporation, and the business and affairs of the corporation shall be
managed by or under the direction and subject to the oversight of its board
of directors, subject to any limitation set forth in the articles of incorporation
or in an agreement authorized under section 21-274 .
(c) In the case of a public corporation,
the board's oversight responsibilities include attention to:
(1) Business performance
and plans;
(2)
Major risks to which the corporation is or may be exposed;
(3) The performance and
compensation of senior officers;
(4) Policies and practices to foster the corporation's
compliance with law and ethical conduct;
(5) Preparation of the corporation's financial statements;
(6) The effectiveness
of the corporation's internal controls;
(7) Arrangements for providing adequate and timely
information to directors; and
(8) The composition of the board and its committees,
taking into account the important role of independent directors.

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