{"data":{"id":"us-ne/neb.-rev.-stat.-21-218.02","jurisdiction":"us-ne","citation":"Neb. Rev. Stat. § 21-218.02","heading":"Neb. Rev. Stat. § 21-218.02","body":"(MBCA 1.46) (a) A defective corporate action shall not be void or voidable if ratified in accordance with section 21-218.03 or validated in accordance with section 21-218.08 .\n\n(b) Ratification under section 21-218.03 or validation under section 21-218.08 shall not be deemed to be the exclusive means of ratifying or validating any defective corporate action, and the absence or failure of ratification in accordance with sections 21-218.01 to 21-218.08 shall not, of itself, affect the validity or effectiveness of any corporate action properly ratified under common law or otherwise, nor shall it create a presumption that any such corporate action is or was a defective corporate action or void or voidable.\n\n(c) In the case of an overissue, putative shares shall be valid shares effective as of the date originally issued or purportedly issued upon:\n\n(1) The effectiveness under sections 21-218.01 to 21-218.08 and under sections 21-2,150 to 21-2,160 of an amendment to the articles of incorporation authorizing, designating, or creating such shares; or\n\n(2) The effectiveness of any other corporate action under sections 21-218.01 to 21-218.08 ratifying the authorization, designation, or creation of such shares.","path":["NE Code","Chapter 21"],"source_url":"https://nebraskalegislature.gov/laws/statutes.php?statute=21-218.02","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:21Z","sha256":"2bbc1b8dd6963a4129be30cb0535d9cb5c79bc25a91f81d563b6a7a0ef2db3be","source_id":"us-ne","stale":false,"prev":"us-ne/neb.-rev.-stat.-21-218.01","next":"us-ne/neb.-rev.-stat.-21-218.03"},"notice":"GroundRules: Original legal text. Not legal advice."}