21-197 Application to existing relationships. - Nebraska Statutes

21-197. Application to existing relationships.(ULLCA 1104) (a) BeforeJanuary 1, 2013, the Nebraska Uniform Limited Liability Company Act governsonly:(1) a limited liabilitycompany formed on or after January 1, 2011; and(2) except as otherwise providedin subsection (c) of this section, a limited liability company formed beforeJanuary 1, 2011, which elects, in the manner provided in its operating agreementor by law for amending the operating agreement, to be subject to the act andwhich delivers to the Secretary of State for filing a statement of electionto be subject to the act pursuant to this subdivision.(b) Except as otherwiseprovided in subsection (c) of this section, on and after January 1, 2013,the act governs all limited liability companies.(c) For the purposes of applyingthe act to a limited liability company formed before January 1, 2011:(1) the company's articlesof organization are deemed to be the company's certificate of organization;and(2)for the purposes of applying subdivision (11) of section 21-102 and subjectto subsection (d) of section 21-112, language in the company's articles oforganization designating the company's management structure operates as ifthat language were in the operating agreement. SourceLaws 2010, LB888, § 97.Operative Date: January 1, 2011