Neb. Rev. Stat. §§ 21-2979

Current with changes through the 2024 First Special Legislative Session
Section 21-2979 - Contribution agreements
(1) A contribution agreement entered into before formation of the limited cooperative association is irrevocable for six months unless:
(a) Otherwise provided by the agreement; or
(b) All parties to the agreement consent to the revocation.
(2) Upon default by a party to a contribution agreement entered into before formation, the limited cooperative association, once formed, may:
(a) Collect the amount owed as any other debt; or
(b) Unless otherwise provided in the agreement, rescind the agreement if the debt remains unpaid more than twenty days after the limited cooperative association demands payment from the party in a record.

Neb. Rev. Stat. §§ 21-2979

Laws 2007, LB368, § 79.