Nebraska § 21-504 Powers and duration of protected series

Nebraska Statutes

§ 21-504 — Powers and duration of protected series

Nebraska·Ch. 21 Corporations and Other Companies

(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.

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