{"data":{"id":"us-ne/neb.-rev.-stat.-21-520","jurisdiction":"us-ne","citation":"Neb. Rev. Stat. § 21-520","heading":"Neb. Rev. Stat. § 21-520","body":"(a) A person is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of:\n\n(1) a protected series of a series limited liability company solely by reason of being or acting as:\n\n(A) an associated member, protected-series manager, or protected-series transferee of the protected series; or\n\n(B) a member, manager, or a transferee of the company; or\n\n(2) a series limited liability company solely by reason of being or acting as an associated member, protected-series manager, or protected-series transferee of a protected series of the company.\n\n(b) Subject to section 21-523 , the following rules apply:\n\n(1) A debt, obligation, or other liability of a series limited liability company is solely the debt, obligation, or liability of the company.\n\n(2) A debt, obligation, or other liability of a protected series is solely the debt, obligation, or liability of the protected series.\n\n(3) A series limited liability company is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of a protected series of the company solely by reason of the protected series being a protected series of the company or the company:\n\n(A) being or acting as a protected-series manager of the protected series;\n\n(B) having the protected series manage the company; or\n\n(C) owning a protected-series transferable interest of the protected series.\n\n(4) A protected series of a series limited liability company is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of the company or another protected series of the company solely by reason of:\n\n(A) being a protected series of the company;\n\n(B) being or acting as a manager of the company or a protected-series manager of another protected series of the company; or\n\n(C) having the company or another protected series of the company be or act as a protected-series manager of the protected series.","path":["NE Code","Chapter 21"],"source_url":"https://nebraskalegislature.gov/laws/statutes.php?statute=21-520","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:21Z","sha256":"6e095146434a1d449ca4e1ea0a16580d1a2c68be8556e7c90d106a28c53ae1b6","source_id":"us-ne","stale":false,"prev":"us-ne/neb.-rev.-stat.-21-519","next":"us-ne/neb.-rev.-stat.-21-521"},"notice":"GroundRules: Original legal text. Not legal advice."}