Nebraska § 21-2959 Removal of director

Nebraska Statutes

§ 21-2959 — Removal of director

Nebraska § 21-2959

Ch. 21Corporations and Other Companies

This text of Nebraska § 21-2959 (Removal of director) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 21-2959 (2026).

Text

Unless the articles of organization or bylaws otherwise provide, the following rules apply:

(1)Members may remove a director with or without cause;

(2)A member or members holding at least twenty-five percent of the total voting power entitled to be voted in the election of the director may demand removal of a director by a signed petition submitted to the officer of the limited cooperative association charged with keeping its records;

(3)Upon receipt of a petition for removal of a director, an officer or the board of directors shall:

(a)Call a special members' meeting to be held within ninety days after receipt of the petition by the association; and

(b)Mail or otherwise transmit or deliver in a record to the members entitled to vote on the removal notice of the meeting which complies

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Unless the articles of organization or bylaws otherwise provide, the following rules apply:
(1) Members may remove a director with or without cause;
(2) A member or members holding at least twenty-five percent of the total voting power entitled to be voted in the election of the director may demand removal of a director by a signed petition submitted to the officer of the limited cooperative association charged with keeping its records;
(3) Upon receipt of a petition for removal of a director, an officer or the board of directors shall:
(a) Call a special members' meeting to be held within ninety days after receipt of the petition by the association; and
(b) Mail or otherwise transmit or deliver in a record to the members entitled to vote on the removal notice of the meeting which complies with section 21-2936 ;
(4) A director against whom a petition has been submitted shall be informed in a record of the petition within a reasonable time before the members' meeting at which the members consider the petition; and
(5) A director is removed if the votes in favor of removal are equal to or greater than the votes required to elect the director.