There is a newer version
of
this Statute
2021 Nevada Revised Statutes
Chapter 81 - Miscellaneous Organizations
NRS 81.925 - Reserve accounts; allocation of indivisible reserve account upon dissolution or sale.
Universal Citation: NV Rev Stat § 81.925 (2021)
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.
(Added to NRS by 2019, 912)
Disclaimer: These codes may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
