State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter21 > 21-2105

21-2105. Powers.(1) A development corporation shall have all the powers granted to corporations organized under the Business Corporation Act except that it shall not give security for any loan made to it by members unless all loans to it by members are secured ratably in proportion to unpaid balances due.(2) The restriction in subsection (1) of this section shall in no manner be construed so as to prohibit a development corporation from making unsecured borrowings from the Small Business Administration, an agency of the United States Government. SourceLaws 1967, c. 100, § 5, p. 304; Laws 1995, LB 109, § 205. Cross ReferencesBusiness Corporation Act, see section 21-2001.