Nebraska Statutes 21-29,115. Emergency bylaws; procedure for adoption
(1) Unless the articles of organization provide otherwise, the board of directors may adopt bylaws to be effective only in an emergency described in subsection (4) of this section. The emergency bylaws may be amended or repealed by the members and may make all provisions necessary for managing the limited cooperative association during the emergency, including:
Terms Used In Nebraska Statutes 21-29,115
- Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
- 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
- Quorum: The number of legislators that must be present to do business.
(a) Procedures for calling a meeting of the board of directors;
(b) Quorum requirements for the meeting; and
(c) Designation of additional or substitute directors.
(2) The regular bylaws consistent with the emergency bylaws remain effective during the emergency. The emergency bylaws are not effective after the emergency ends.
(3) Action taken by the limited cooperative association in good faith in accordance with the emergency bylaws:
(a) Binds the limited cooperative association; and
(b) May not be used to impose liability on a director, officer, employee, or agent of the limited cooperative association.
(4) An emergency exists for purposes of this section if a quorum of the board of directors cannot readily be assembled because of a catastrophic event.