Nebraska Revised Statute 21-2105

Chapter 21 Section 2105

21-2105.

Powers.

(1) A development corporation shall have all the powers granted to corporations organized under the Nebraska Model Business Corporation Act, except that it shall not give security for any loan made to it by members unless all loans to it by members are secured ratably in proportion to unpaid balances due.

(2) The restriction in subsection (1) of this section shall in no manner be construed so as to prohibit a development corporation from making unsecured borrowings from the federal Small Business Administration.

Source

Cross References

  • Nebraska Model Business Corporation Act, see section 21-201.