Nebraska Statutes 21-277. Demand
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(MBCA 7.42) (a) No shareholder may commence a derivative proceeding until:
Terms Used In Nebraska Statutes 21-277
- Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
- Venue: The geographical location in which a case is tried.
(1) A written demand has been made upon the corporation to take suitable action; and
(2) Ninety days have expired from the date delivery of the demand was made unless the shareholder has earlier been notified that the demand has been rejected by the corporation or unless irreparable injury to the corporation would result by waiting for the expiration of the ninety-day period.
(b) Venue for a proceeding under this section lies in the district court of the county where the corporation’s principal office, or, if none in this state, its registered office, is located.