§ 21-2969. Committees.

(1) Unless otherwise provided by the articles of organization or bylaws, a board of directors may create one or more committees and appoint one or more individuals to serve on a committee. (2) Unless otherwise provided by the articles of organization or bylaws, an individual appointed to serve on a committee need not be a director or member of the limited cooperative association. An individual serving on a committee has the same rights, duties, and obligations as a director serving on a committee. (3) Unless otherwise provided by the articles of organization or bylaws, each committee may exercise the powers as delegated by the board of directors except that no committee may: (a) Approve allocations or distributions except according to a formula or method prescribed by the board of directors; (b) Approve or propose to members action requiring approval of members; or (c) Fill vacancies on the board of directors or any of its committees. History: Laws 2007, LB368, § 69.