Nev. Rev. Stat. § 81.957
This is the official text of Nev. Rev. Stat. § 81.957, 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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Revocation of election to be governed as worker cooperative
Official statutory text
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.
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.
Status: in_force · Read it on the official government site
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