70-719 Directors; alternate directors; compensation; election. - Nebraska Statutes

70-719. Directors; alternate directors; compensation; election.The directors, other than those named in the certificate of incorporation to serve until the first annual meeting of members, shall be elected annually, or as otherwise provided in the bylaws, by the members. The directors shall be members of the corporation and shall be entitled to such compensation and reimbursement for expenses actually and necessarily incurred by them as provided in sections 81-1174 to 81-1177 for state employees. The bylaws may provide for the election of alternate directors, who shall be elected and serve in the same manner as members elected to the board of directors. Such alternate directors shall serve in the event of the absence, disability, disqualification, or death of an elected director. SourceLaws 1937, c. 50, § 19, p. 208; C.S.Supp.,1941, § 70-819; R.S.1943, § 70-719; Laws 1974, LB 833, § 1; Laws 1981, LB 204, § 106.