Nebraska § 44-235 - Domestic stock company; change to mutual company; plan; contents.
Full text of Nebraska Revised Statutes of Nebraska § 44-235 — Domestic stock company; change to mutual company; plan; contents., with citation guidance and answers to common questions.
§ 44-235. Domestic stock company; change to mutual company; plan; contents.
The plan for the mutualization of the company shall among other things include:
(1) A statement of the value of the interest of the shareholders in the company as ascertained by the company, which value shall not exceed the fair value thereof, and the amount proposed to be paid to each shareholder upon retirement of his or her shares of stock;
(2) A statement of the method of ascertaining the value of the interest of the shareholders;
(3) A statement of the procedure proposed for paying the shareholders for their stock, which may be done over a period of time and performed with due regard for the interest of the policyholders, and for retiring and canceling the stock;
(4) A statement of the method to be followed in continuing the management of the company during any period intervening between the inception of the plan and the retirement of the stock and in instituting management by the policyholders; and
(5) A provision for approval of the plan for mutualization by at least two-thirds of the policyholders voting in person or by proxy at a meeting of policyholders called by the company upon at least thirty days' written notice mailed to the policyholders at their latest addresses as shown by the company's records and containing an adequate summary of the essential provisions of the plan.
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 44-235
What does Revised Statutes of Nebraska § 44-235 cover?
Section 44-235 ("Domestic stock company; change to mutual company; plan; contents.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 44-235?
A common citation format is "Revised Statutes of Nebraska § 44-235" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 44-235 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.