Nebraska § 21-524 Events causing dissolution of protected series

Nebraska Statutes

§ 21-524 — Events causing dissolution of protected series

Nebraska § 21-524

Ch. 21Corporations and Other Companies

This text of Nebraska § 21-524 (Events causing dissolution 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. § 21-524 (2026).

Text

A protected series of a series limited liability company is dissolved, and its activities and affairs must be wound up, only on the:

(1)dissolution of the company;

(2)occurrence of an event or circumstance the operating agreement states causes dissolution of the protected series;

(3)affirmative vote or consent of all members; or

(4)entry by the court of an order dissolving the protected series on application by an associated member or protected-series manager of the protected series:

(A)in accordance with section 21-508 ; and

(B)to the same extent, in the same manner, and on the same grounds the court would enter an order dissolving a limited liability company on application by a member or manager of the company; or

(5)entry by the court of an order dissolving the protected series

Free access — add to your briefcase to read the full text and ask questions with AI

A protected series of a series limited liability company is dissolved, and its activities and affairs must be wound up, only on the:
(1) dissolution of the company;
(2) occurrence of an event or circumstance the operating agreement states causes dissolution of the protected series;
(3) affirmative vote or consent of all members; or
(4) entry by the court of an order dissolving the protected series on application by an associated member or protected-series manager of the protected series:
(A) in accordance with section 21-508 ; and
(B) to the same extent, in the same manner, and on the same grounds the court would enter an order dissolving a limited liability company on application by a member or manager of the company; or
(5) entry by the court of an order dissolving the protected series on application by the company or a member of the company on the ground that the conduct of all or substantially all the activities and affairs of the protected series is illegal.