Nebraska § 44-2907 Association; board of directors; number of directors; make bylaws

Nebraska Statutes

§ 44-2907 — Association; board of directors; number of directors; make bylaws

Nebraska § 44-2907

Ch. 44Insurance

This text of Nebraska § 44-2907 (Association; board of directors; number of directors; make bylaws) 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. § 44-2907 (2026).

Text

The board of directors of an association formed pursuant to sections  44-2901  to  44-2918  shall be comprised of not fewer than five nor more than twenty-one persons and a majority of them must be residents of the State of Nebraska. A person convicted of a felony may not be a director and all directors must be of good moral character and known professional, administrative or business ability, such business ability to include a practical knowledge of insurance, finance, or investment. Unless otherwise provided in the articles of incorporation, the board of directors shall make all bylaws. If the number of, or qualifications for, directors shall be amended in the articles or bylaws, such change shall not affect the incumbent directors for the term of office for which they were elected.

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The board of directors of an association formed pursuant to sections 44-2901 to 44-2918 shall be comprised of not fewer than five nor more than twenty-one persons and a majority of them must be residents of the State of Nebraska. A person convicted of a felony may not be a director and all directors must be of good moral character and known professional, administrative or business ability, such business ability to include a practical knowledge of insurance, finance, or investment. Unless otherwise provided in the articles of incorporation, the board of directors shall make all bylaws. If the number of, or qualifications for, directors shall be amended in the articles or bylaws, such change shall not affect the incumbent directors for the term of office for which they were elected.