44-122 Domestic company; stock reduction; procedure. - Nebraska Statutes

44-122. Domestic company; stock reduction; procedure.No reduction of stock shall be made except by approval of at least two-thirds of the directors. The directors, after such reduction of stock, may require such shareholder to surrender his or her stock and in lieu thereof may issue a new certificate for such number of shares as each shall be entitled to. SourceLaws 1913, c. 154, § 9, p. 400; R.S.1913, § 3145; Laws 1919, c. 190, tit. V, art. III, § 2, p. 578; C.S.1922, § 7746; C.S.1929, § 44-202; R.S.1943, § 44-122; Laws 1989, LB 92, § 15; Laws 1999, LB 259, § 1.