Statute 21 2969

21-2969. Committees.(1) Unless otherwise provided by the articles of organization or bylaws, a board of directors may create one or more committees and appoint one or more individuals to serve on a committee.(2) Unless otherwise provided by the articles of organization or bylaws, an individual appointed to serve on a committee need not be a director or member of the limited cooperative association. An individual serving on a committee has the same rights, duties, and obligations as a director serving on a committee.(3) Unless otherwise provided by the articles of organization or bylaws, each committee may exercise the powers as delegated by the board of directors except that no committee may:(a) Approve allocations or distributions except according to a formula or method prescribed by the board of directors;(b) Approve or propose to members action requiring approval of members; or(c) Fill vacancies on the board of directors or any of its committees.Source Laws 2007, LB368, § 69.