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2022 Nevada Revised Statutes
Chapter 81 - Miscellaneous Organizations
NRS 81.957 - Revocation of election to be governed as worker cooperative.
Universal Citation: NV Rev Stat § 81.957 (2022)
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.
(Added to NRS by 2019, 913)
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