NRS 81.925
Reserve accounts

  • allocation of indivisible reserve account upon dissolution or sale.

1.

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.

Source: Section 81.925 — Reserve accounts; allocation of indivisible reserve account upon dissolution or sale., https://www.­leg.­state.­nv.­us/NRS/NRS-081.­html#NRS081Sec925.

Last Updated

Feb. 5, 2021

§ 81.925’s source at nv​.us