State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter21 > 21-2983

21-2983. Effect of dissociation as member.(1) Upon a person's dissociation as a member:(a) A person dissociated pursuant to section 21-2982 does not have further rights as a member; and(b) Subject to sections 21-2947 and 21-2948, any financial rights owned by the person in the person's capacity as a member immediately before dissociation are owned by the person as a transferee who is not admitted as a member after dissociation.(2) A person's dissociation as a member does not of itself discharge the person from any obligation to the limited cooperative association which the person incurred while a member. SourceLaws 2007, LB368, § 83.