Nebraska § 21-516 Associated member

Nebraska Statutes

§ 21-516 — Associated member

Nebraska § 21-516

Ch. 21Corporations and Other Companies

This text of Nebraska § 21-516 (Associated member) 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. § 21-516 (2026).

Text

(a)Only a member of a series limited liability company may be an associated member of a protected series of the company.

(b)A member of a series limited liability company becomes an associated member of a protected series of the company if the operating agreement or a procedure established by the agreement states:

(1)that the member is an associated member of the protected series;

(2)the date on which the member became an associated member; and

(3)any protected-series transferable interest the associated member has in connection with becoming or being an associated member.

(c)If a person that is an associated member of a protected series of a series limited liability company is dissociated from the company, the person ceases to be an associated member of the protected series.

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(a) Only a member of a series limited liability company may be an associated member of a protected series of the company.
(b) A member of a series limited liability company becomes an associated member of a protected series of the company if the operating agreement or a procedure established by the agreement states:
(1) that the member is an associated member of the protected series;
(2) the date on which the member became an associated member; and
(3) any protected-series transferable interest the associated member has in connection with becoming or being an associated member.
(c) If a person that is an associated member of a protected series of a series limited liability company is dissociated from the company, the person ceases to be an associated member of the protected series.