Nebraska Statutes 21-2957. Term of director
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(1) A director’s term expires at the annual members’ meeting following the director’s election unless otherwise provided in the articles of organization or bylaws. The term of a director shall not exceed three years.
Terms Used In Nebraska Statutes 21-2957
- Organization: means a limited cooperative association, limited cooperative association governed by a law other than the Nebraska Limited Cooperative Association Act, a general partnership, a limited liability partnership, a limited partnership, a limited liability company, a business trust, a corporation, a cooperative, or any other person having a governing statute. See Nebraska Statutes 21-29,117
(2) Unless otherwise provided in the articles of organization or bylaws, a director may be reelected for subsequent terms.
(3) A director continues to serve as director until a successor director is elected and qualified or until the director is removed, resigns, or dies.