Nevada Revised Statutes 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
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1. The articles of incorporation or bylaws of a worker cooperative must establish:
Terms Used In Nevada Revised Statutes 81.929
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(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.