{"data":{"id":"us-ne/neb.-rev.-stat.-21-2904","jurisdiction":"us-ne","citation":"Neb. Rev. Stat. § 21-2904","heading":"Nature of limited cooperative association.","body":"(1) A limited cooperative association is an entity distinct from its members.\n(2) A limited cooperative association may be organized under the Nebraska Limited Cooperative Association Act for any lawful purpose, regardless of whether or not for profit, except for the purpose of being a financial institution which is subject to supervision by the Department of Banking and Finance under section 8-102 or which would be subject to supervision by the department if chartered by the State of Nebraska or the business of an insurer as described in section 44-102.\n(3) A limited cooperative association has a perpetual duration, unless otherwise set forth in its articles of organization or bylaws.","path":["Chapter 21 - CORPORATIONS AND OTHER COMPANIES"],"source_url":"https://nebraskalegislature.gov/laws/statutes.php?statute=21-2904","current_through":"Laws 2026","vintage":"","retrieved_at":"2026-10-18T05:55:23Z","sha256":"120187d48bd17fa8993144ec6e12943d5fa3276bcf7c5a775d3a2e8d5152035c","source_id":"us-ne","stale":false,"prev":"us-ne/neb.-rev.-stat.-21-2903","next":"us-ne/neb.-rev.-stat.-21-2905"},"notice":"GroundRules: Original legal text. Not legal advice."}