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Current as of January 01, 2021 | Updated by FindLaw Staff
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.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 7. Business Associations; Securities; Commodities § 81.929. 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 - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-7-business-associations-securities-commodities/nv-rev-st-81-929/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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