Nev. Rev. Stat. § 81.957

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 81.957 - Revocation of election to be governed as worker cooperative
1. A worker cooperative may revoke its election to be governed as a worker cooperative pursuant to NRS 81.919:
(a) In a manner as provided by the articles of incorporation or bylaws of the worker cooperative, but by not less than a majority vote of the members; and
(b) Through a certificate of amendment filed pursuant to chapter 78 of NRS.
2. A worker cooperative that revokes its election pursuant to subsection 1 shall, in its certificate of amendment, provide for the conversion of membership shares and internal capital accounts or their conversion to securities or other property in a manner consistent with chapter 78 of NRS.

NRS 81.957

Added to NRS by 2019, 913
Added by 2019, Ch. 171,§30, eff. 10/1/2019.