State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter21 > 21-2615

21-2615. Management.Unless the articles of organization provide to the contrary, management of a limited liability company shall be vested in each member in proportion to such person's contribution to the capital of the limited liability company as adjusted from time to time to properly reflect any additional contribution or withdrawal by another member. If the articles of organization provide for the management of the limited liability company by one or more managers, the managers shall be elected by one or more classes of members in a manner provided in the operating agreement. The managers shall also hold the offices and have the responsibilities accorded to them by such members and as set out in the operating agreement. SourceLaws 1993, LB 121, § 15; Laws 1994, LB 884, § 33; Laws 1997, LB 631, § 8.Termination Date: January 1, 2013