Nebraska § 21-504 Powers and duration of protected series

Nebraska Statutes

§ 21-504 — Powers and duration of protected series

Nebraska § 21-504

Ch. 21Corporations and Other Companies

This text of Nebraska § 21-504 (Powers and duration of protected series) 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. § 21-504 (2026).

Text

(a)A protected series of a series limited liability company has the capacity to sue and be sued in its own name.

(b)Except as otherwise provided in subsections (c) and (d) of this section, a protected series of a series limited liability company has the same powers and purposes as the company.

(c)A protected series of a series limited liability company ceases to exist not later than when the company completes its winding up.

(d)A protected series of a series limited liability company may not:

(1)be a member of the company;

(2)establish a protected series;

(3)render a professional service; or

(4)except as permitted by law of this state other than the Nebraska Uniform Protected Series Act, have a purpose or power that the law of this state other than the Nebraska Uniform Protected Se

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(a) A protected series of a series limited liability company has the capacity to sue and be sued in its own name.
(b) Except as otherwise provided in subsections (c) and (d) of this section, a protected series of a series limited liability company has the same powers and purposes as the company.
(c) A protected series of a series limited liability company ceases to exist not later than when the company completes its winding up.
(d) A protected series of a series limited liability company may not:
(1) be a member of the company;
(2) establish a protected series;
(3) render a professional service; or
(4) except as permitted by law of this state other than the Nebraska Uniform Protected Series Act, have a purpose or power that the law of this state other than the Nebraska Uniform Protected Series Act prohibits a limited liability company from doing or having.