Nebraska Statutes 21-2959. Removal of director
Unless the articles of organization or bylaws otherwise provide, the following rules apply:
Terms Used In Nebraska Statutes 21-2959
- 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
(1) Members may remove a director with or without cause;
(2) A member or members holding at least twenty-five percent of the total voting power entitled to be voted in the election of the director may demand removal of a director by a signed petition submitted to the officer of the limited cooperative association charged with keeping its records;
(3) Upon receipt of a petition for removal of a director, an officer or the board of directors shall:
(a) Call a special members’ meeting to be held within ninety days after receipt of the petition by the association; and
(b) Mail or otherwise transmit or deliver in a record to the members entitled to vote on the removal notice of the meeting which complies with section 21-2936 ;
(4) A director against whom a petition has been submitted shall be informed in a record of the petition within a reasonable time before the members’ meeting at which the members consider the petition; and
(5) A director is removed if the votes in favor of removal are equal to or greater than the votes required to elect the director.