Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 81.925 - Reserve accounts; allocation of indivisible reserve account upon dissolution or sale1. A worker cooperative may use:(a) A divisible reserve account; or(b) An indivisible reserve account.2. An account used pursuant to subsection 1 may be used to pay the expenses of a worker cooperative, including, without limitation, wages.3. Upon the dissolution or sale of a worker cooperative, an indivisible reserve account of the worker cooperative must be allocated to an indivisible reserve account of another worker cooperative or nonprofit corporation.Added to NRS by 2019, 912Added by 2019, Ch. 171,§28, eff. 10/1/2019.