21-2026 Corporation; emergency powers. - Nebraska Statutes

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21-2026. Corporation; emergency powers.(1) In anticipation of or during an emergency as defined in subsection (4) of this section, the board of directors of a corporation may:(a) Modify lines of succession to accommodate the incapacity of any director, officer, employee, or agent; and(b) Relocate the principal office, designate alternative principal offices or regional offices, or authorize the officers to do so.(2) During an emergency as defined in subsection (4) of this section, unless emergency bylaws provide otherwise:(a) Notice of a meeting of the board of directors shall be given only to those directors to whom it is practicable to reach and may be given in any practicable manner, including by publication and radio; and(b) One or more officers of the corporation present at a meeting of the board of directors may be deemed to be directors for the meeting, in order of rank and within the same rank in order of seniority as necessary to achieve a quorum.(3) Corporate action taken in good faith during an emergency to further the ordinary business affairs of the corporation:(a) Shall bind the corporation; and(b) May not be used to impose liability on a corporate director, officer, employee, or agent.(4) An emergency shall exist for purposes of this section if a quorum of the corporation's directors cannot readily be assembled because of some catastrophic event. SourceLaws 1995, LB 109, § 26.

State Codes and Statutes

Statutes > Nebraska > Chapter21 > 21-2026

21-2026. Corporation; emergency powers.(1) In anticipation of or during an emergency as defined in subsection (4) of this section, the board of directors of a corporation may:(a) Modify lines of succession to accommodate the incapacity of any director, officer, employee, or agent; and(b) Relocate the principal office, designate alternative principal offices or regional offices, or authorize the officers to do so.(2) During an emergency as defined in subsection (4) of this section, unless emergency bylaws provide otherwise:(a) Notice of a meeting of the board of directors shall be given only to those directors to whom it is practicable to reach and may be given in any practicable manner, including by publication and radio; and(b) One or more officers of the corporation present at a meeting of the board of directors may be deemed to be directors for the meeting, in order of rank and within the same rank in order of seniority as necessary to achieve a quorum.(3) Corporate action taken in good faith during an emergency to further the ordinary business affairs of the corporation:(a) Shall bind the corporation; and(b) May not be used to impose liability on a corporate director, officer, employee, or agent.(4) An emergency shall exist for purposes of this section if a quorum of the corporation's directors cannot readily be assembled because of some catastrophic event. SourceLaws 1995, LB 109, § 26.

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State Codes and Statutes

Statutes > Nebraska > Chapter21 > 21-2026

21-2026. Corporation; emergency powers.(1) In anticipation of or during an emergency as defined in subsection (4) of this section, the board of directors of a corporation may:(a) Modify lines of succession to accommodate the incapacity of any director, officer, employee, or agent; and(b) Relocate the principal office, designate alternative principal offices or regional offices, or authorize the officers to do so.(2) During an emergency as defined in subsection (4) of this section, unless emergency bylaws provide otherwise:(a) Notice of a meeting of the board of directors shall be given only to those directors to whom it is practicable to reach and may be given in any practicable manner, including by publication and radio; and(b) One or more officers of the corporation present at a meeting of the board of directors may be deemed to be directors for the meeting, in order of rank and within the same rank in order of seniority as necessary to achieve a quorum.(3) Corporate action taken in good faith during an emergency to further the ordinary business affairs of the corporation:(a) Shall bind the corporation; and(b) May not be used to impose liability on a corporate director, officer, employee, or agent.(4) An emergency shall exist for purposes of this section if a quorum of the corporation's directors cannot readily be assembled because of some catastrophic event. SourceLaws 1995, LB 109, § 26.