{"data":{"id":"us-ne/neb.-rev.-stat.-21-504","jurisdiction":"us-ne","citation":"Neb. Rev. Stat. § 21-504","heading":"Neb. Rev. Stat. § 21-504","body":"(a) A protected series of a series limited liability company has the capacity to sue and be sued in its own name.\n\n(b) Except as otherwise provided in subsections (c) and (d) of this section, a protected series of a series limited liability company has the same powers and purposes as the company.\n\n(c) A protected series of a series limited liability company ceases to exist not later than when the company completes its winding up.\n\n(d) A protected series of a series limited liability company may not:\n\n(1) be a member of the company;\n\n(2) establish a protected series;\n\n(3) render a professional service; or\n\n(4) except as permitted by law of this state other than the Nebraska Uniform Protected Series Act, have a purpose or power that the law of this state other than the Nebraska Uniform Protected Series Act prohibits a limited liability company from doing or having.","path":["NE Code","Chapter 21"],"source_url":"https://nebraskalegislature.gov/laws/statutes.php?statute=21-504","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:21Z","sha256":"f064fcf8e5f4409487298cb4b9acfc4f27f90f219baa3acc8ebdf2e90036378e","source_id":"us-ne","stale":false,"prev":"us-ne/neb.-rev.-stat.-21-503","next":"us-ne/neb.-rev.-stat.-21-505"},"notice":"GroundRules: Original legal text. Not legal advice."}