§ 21-2956 — Election of directors

(1) At least fifty percent of the board of directors of a limited cooperative association shall be elected exclusively by patron members.
(2) Subject to the provisions of subsection (1) of this section, the articles of organization or bylaws may provide for the election of all or a specified number of directors by the holders of one or more groups of classes of members' interests.
(3) Subject to the provisions of subsection (1) of this section, the articles of organization or bylaws may provide for the nomination or election of directors by geographic district directly or by district delegates.
(4) Cumulative voting is prohibited unless otherwise provided in the articles of organization or bylaws.
(5) Except as otherwise provided by the articles of organization, bylaws, or section 21-2961 , member directors shall be elected at an annual members' meeting.
(6) Nonmember directors shall be elected in the same manner as member directors unless the articles of organization or bylaws provide for a different method of selection.

Legislative History

Source: Laws 2007, LB368, § 56; Laws 2008, LB848, § 16.