21-2981.01 Distributions to members; redemption or repurchase authorized; how treated. - Nebraska Statutes

21-2981.01. Distributions to members; redemption or repurchase authorized; how treated.Property distributed under subsection (2) of section 21-2981, other than cash, may be redeemed or repurchased as provided in the articles of organization or bylaws but no redemption or repurchase may be made without full and final authorization by the board of directors, which may be withheld for any reason in the board's sole discretion. The redemption or repurchase will be treated as a distribution under section 21-2981. SourceLaws 2008, LB848, § 21.