Nebraska § 21-524 Events causing dissolution of protected series

Nebraska Statutes

§ 21-524 — Events causing dissolution of protected series

Nebraska·Ch. 21 Corporations and Other Companies

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

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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.

Nebraska § 21-524 (Events causing dissolution of protected series) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.