State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter8 > 8-304

8-304. Stockholders; voting; limitations.Subject to the limitations set forth in section 8-303, each investing member shall be permitted to cast one vote for each hundred dollars of withdrawal value of his stock. Each borrowing member shall be permitted as a borrower to cast one vote, or to cast one vote for each one hundred dollars of the credit value of his stock. Fifteen or more members present at a regular or special meeting of members constitute a quorum. Voting may be by proxy if the instrument authorizing the proxy to vote shall have been executed by a member. SourceLaws 1899, c. 17, § 1, p. 84; R.S.1913, § 485; Laws 1919, c. 190, tit. V, art. XIX, § 2, p. 724; C.S.1922, § 8084; C.S.1929, § 8-302; Laws 1937, c. 19, § 1, p. 125; C.S.Supp.,1941, § 8-302; R.S.1943, § 8-304; Laws 1945, c. 9, § 2, p. 107; Laws 1953, c. 9, § 1, p. 74.