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Nature of limited cooperative association.

Neb. Rev. Stat. § 21-2904
in effect
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21-2904. Nature of limited cooperative association. (1) A limited cooperative association is an entity distinct from its members. (2) A limited cooperative association may be organized under the Nebraska Limited Cooperative Association Act for any lawful purpose, regardless of whether or not for profit, except for the purpose of being a financial institution which is subject to supervision by the Department of Banking and Finance under section 8-102 or which would be subject to supervision by the department if chartered by the State of Nebraska or the business of an insurer as described in section 44-102. (3) A limited cooperative association has a perpetual duration, unless otherwise set forth in its articles of organization or bylaws. Laws 2007, LB368, § 4.
Source: Nebraska Legislature (nebraskalegislature.gov)URL: https://nebraskalegislature.gov/laws/statutes.php?statute=21-2904Fetched: 10/20/2026

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