{"data":{"id":"us-ne/neb.-rev.-stat.-21-19-141","jurisdiction":"us-ne","citation":"Neb. Rev. Stat. § 21-19,141","heading":"Grounds for judicial dissolution.","body":"(a) The district court may dissolve a corporation:\n(1) In a proceeding by the Attorney General if it is established that:\n(i) The corporation obtained its articles of incorporation through fraud;\n(ii) The corporation has continued to exceed or abuse the authority conferred upon it by law;\n(iii) The corporation is a public benefit corporation and the corporate assets are being misapplied or wasted; or\n(iv) The corporation is a public benefit corporation and is no longer able to carry out its purposes;\n(2) Except as provided in the articles or bylaws of a religious corporation, in a proceeding by fifty members or members holding five percent of the voting power, whichever is less, or by a director or any person specified in the articles, if it is established that:\n(i) The directors are deadlocked in the management of the corporate affairs, and the members, if any, are unable to breach the deadlock;\n(ii) The directors or those in control of the corporation have acted, are acting, or will act in a manner that is illegal, oppressive, or fraudulent;\n(iii) The members are deadlocked in voting power and have failed, for a period that includes at least two consecutive annual meeting dates, to elect successors to directors whose terms have, or would otherwise have, expired;\n(iv) The corporate assets are being misapplied or wasted; or\n(v) The corporation is a public benefit or religious corporation and is no longer able to carry out its purposes;\n(3) In a proceeding by a creditor if it is established that:\n(i) The creditor's claim has been reduced to judgment, the execution on the judgment returned unsatisfied, and the corporation is insolvent; or\n(ii) The corporation has admitted in writing that the creditor's claim is due and owing and the corporation is insolvent; or\n(4) In a proceeding by the corporation to have its voluntary dissolution continued under court supervision.\n(b) Prior to dissolving a corporation, the district court shall consider whether:\n(1) There are reasonable alternatives to dissolution;\n(2) Dissolution is in the public interest, if the corporation is a public benefit corporation; and\n(3) Dissolution is the best way of protecting the interests of members if the corporation is a mutual benefit corporation.","path":["Chapter 21 - CORPORATIONS AND OTHER COMPANIES"],"source_url":"https://nebraskalegislature.gov/laws/statutes.php?statute=21-19,141","current_through":"Laws 2026","vintage":"","retrieved_at":"2026-10-18T05:55:23Z","sha256":"b3b8fe0c9b7b1fbc36f0aa0ee21a98443bdb3fe07fe047063e75704b870b81a8","source_id":"us-ne","stale":false,"prev":"us-ne/neb.-rev.-stat.-21-19-140","next":"us-ne/neb.-rev.-stat.-21-19-142"},"notice":"GroundRules: Original legal text. Not legal advice."}