NRS 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.

Source: Section 81.957 — Revocation of election to be governed as worker cooperative., https://www.­leg.­state.­nv.­us/NRS/NRS-081.­html#NRS081Sec957.

Last Updated

Feb. 5, 2021

§ 81.957’s source at nv​.us