Nev. Rev. Stat. § 81.929
This is the official text of Nev. Rev. Stat. § 81.929, part of Nevada’s Rev. Stat — part of the compiled statutory law of Nevada, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
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Membership: Establishment of qualifications and method of acceptance, expulsion, termination and suspension; composition of members; effect of leave of absence; rights and responsibilities of members
Official statutory text
1. The articles of incorporation or bylaws of a worker cooperative must establish: (a) The qualifications for membership, including, without limitation, that a member must be employed by the worker cooperative on a full- or part-time basis; and (b) The method of acceptance, expulsion, termination and suspension of members.
2. At least 51 percent of the members of a worker cooperative must be employees of the worker cooperative.
3. An authorized and voluntary leave of absence from a worker cooperative by a member of the worker cooperative must not revoke the membership status of the member.
4. Members shall have all the rights and responsibilities of a stockholder of a corporation pursuant to chapter 78 of NRS.
2. At least 51 percent of the members of a worker cooperative must be employees of the worker cooperative.
3. An authorized and voluntary leave of absence from a worker cooperative by a member of the worker cooperative must not revoke the membership status of the member.
4. Members shall have all the rights and responsibilities of a stockholder of a corporation pursuant to chapter 78 of NRS.
Status: in_force · Read it on the official government site
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