State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter49 > 49-1536

49-1536. Specific Authority for Insolvency Proceedings, defined.The short form expression, Specific Authority for Insolvency Proceedings, shall mean that the principal generally authorizes the agent to consent to, join in, oppose, settle, or otherwise participate in, to demand, enforce recovery of, obtain, or receive any dividend, payment, settlement, or other distribution as to, to exercise, sell, waive, or otherwise dispose of or use any conversion rights, options, warrants, or other securities as to, to form, join, make deposits with, negotiate with, or otherwise deal with or participate in the activities and transactions of any committee or other organization of debtors, creditors, security holders, or other persons commonly or disparately interested in, to negotiate, perform, or otherwise effectuate any arrangement, assignment, composition, trust, or other plan for or with debtors or creditors, and otherwise to initiate, intervene in, maintain, or take other part in any involuntary or voluntary bankruptcy or other insolvency proceedings under federal or state law. SourceLaws 1988, LB 475, § 36.