Nebraska § 21-2904 Nature of limited cooperative association

Nebraska Statutes

§ 21-2904 — Nature of limited cooperative association

Nebraska·Ch. 21 Corporations and Other Companies

(1)A limited cooperative association is an entity distinct from its members.

(2)A limited cooperative association may be organized under the Nebraska Limited Cooperative Association Act for any lawful purpose, regardless of whether or not for profit, except for the purpose of being a financial institution which is subject to supervision by the Department of Banking and Finance under section 8-102 or which would be subject to supervision by the department if chartered by the State of Nebraska or the business of an insurer as described in section 44-102 .

(3)A limited cooperative association has a perpetual duration, unless otherwise set forth in its articles of organization or bylaws.

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(1) A limited cooperative association is an entity distinct from its members.
(2) A limited cooperative association may be organized under the Nebraska Limited Cooperative Association Act for any lawful purpose, regardless of whether or not for profit, except for the purpose of being a financial institution which is subject to supervision by the Department of Banking and Finance under section 8-102 or which would be subject to supervision by the department if chartered by the State of Nebraska or the business of an insurer as described in section 44-102 .
(3) A limited cooperative association has a perpetual duration, unless otherwise set forth in its articles of organization or bylaws.

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