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)
Structure Nevada Revised Statutes
Chapter 81 - Miscellaneous Organizations
NRS 81.0026 - Prohibition against formation of entity for certain illegal purposes.
NRS 81.0027 - Form required for filing of records.
NRS 81.003 - Filing of records written in language other than English.
NRS 81.010 - Formation; applicable law; revival of certain expired corporations.
NRS 81.030 - Memberships: Certificates; transfer and assignment.
NRS 81.040 - Articles of incorporation: Required provisions.
NRS 81.050 - Articles of incorporation: Optional provisions.
NRS 81.060 - Articles of incorporation: Filing requirements; acceptable evidence of incorporation.
NRS 81.070 - Amendment of articles of incorporation.
NRS 81.080 - Bylaws: Adoption; amendment; effectiveness.
NRS 81.090 - Bylaws: Optional provisions.
NRS 81.100 - Bylaws: Provisions for unequal property rights.
NRS 81.120 - Marketing contracts: Powers of corporation; title to property.
NRS 81.130 - Consolidation of cooperative corporations: Procedure; powers.
NRS 81.150 - Right of corporation to do business: Quo warranto proceedings.
NRS 81.160 - Applicability of NRS 81.010 to 81.160, inclusive.
NRS 81.170 - "Lawful business" defined; construction of NRS 81.170 to 81.270, inclusive.
NRS 81.190 - Members: Qualifications, rights, interest and duties.
NRS 81.200 - Articles of association: Filing requirements; required provisions.
NRS 81.210 - Purpose of business may be changed; amendment of articles.
NRS 81.230 - Bylaws: Adoption; amendment; required and optional provisions.
NRS 81.240 - Bylaws: Required and optional provisions concerning profits.
NRS 81.250 - Recording and maintaining of bylaws and amendments.
NRS 81.270 - Succession to membership: Nomination and transfer on death.
NRS 81.410 - Formation; applicable law.
NRS 81.420 - No capital stock; not to be carried on for profit.
NRS 81.430 - Memberships: Certificates; transfer and assignment.
NRS 81.440 - Articles of incorporation: Required provisions.
NRS 81.450 - Articles of incorporation: Filing requirements; acceptable evidence of incorporation.
NRS 81.470 - Bylaws: Adoption; amendment; effectiveness.
NRS 81.480 - Bylaws: Optional provisions.
NRS 81.490 - Bylaws: Provisions for unequal voting power.
NRS 81.510 - Agreements for unified action by cooperative corporations.
NRS 81.540 - Applicability and effect of NRS 81.410 to 81.540, inclusive.
NRS 81.560 - Declaration of policy.
NRS 81.570 - References to Internal Revenue Code.
NRS 81.600 - "Director" defined.
NRS 81.605 - "Governing instrument" defined.
NRS 81.610 - "Private foundation" defined.
NRS 81.620 - Applicability of NRS 81.550 to 81.660, inclusive.
NRS 81.640 - Minimum distributions required.
NRS 81.650 - Amendment of governing instrument: Procedure.
NRS 81.710 - "Established practices" defined.
NRS 81.715 - "Governing principles" defined.
NRS 81.720 - "Manager" defined.
NRS 81.725 - "Member" defined.
NRS 81.730 - "Person" defined.
NRS 81.740 - "Unincorporated nonprofit association" defined.
NRS 81.745 - Relation to other law.
NRS 81.755 - Legal entity; perpetual existence; powers.
NRS 81.760 - Ownership and transfer of property.
NRS 81.765 - Statement of authority as to real property.
NRS 81.775 - Assertion and defense of claims.
NRS 81.780 - Effect of judgment or order.
NRS 81.785 - Appointment of agent to receive service of process; service of process.
NRS 81.790 - Action or proceeding not abated by change in members or managers.
NRS 81.800 - Member not agent.
NRS 81.805 - Certain actions require approval by members.
NRS 81.810 - Meetings of members: Voting, notice and quorum requirements.
NRS 81.815 - Duties of member.
NRS 81.820 - Admission, suspension, dismissal or expulsion of members.
NRS 81.825 - Resignation of member.
NRS 81.830 - Membership interest not transferable.
NRS 81.835 - Selection of managers; management rights of managers.
NRS 81.840 - Duties of managers.
NRS 81.845 - Meetings of managers: Notice and quorum requirements.
NRS 81.850 - Right of member or manager to information.
NRS 81.855 - Distributions prohibited; compensation and other permitted payments.
NRS 81.860 - Reimbursement; indemnification; advancement of expenses.
NRS 81.870 - Winding up and termination.
NRS 81.880 - Transition concerning real and personal property.
NRS 81.885 - Uniformity of application and construction.
NRS 81.890 - Relations to Electronic Signatures in Global and National Commerce Act.
NRS 81.903 - "Member" defined.
NRS 81.905 - "Membership share" defined.
NRS 81.907 - "Patronage" defined.
NRS 81.909 - "Patronage dividend" defined.
NRS 81.911 - "Quorum" defined.
NRS 81.913 - "Worker cooperative" defined.
NRS 81.915 - "Written notice of allocation" defined.
NRS 81.917 - Legislative findings and declarations.
NRS 81.919 - Election of corporation to be governed as worker cooperative; applicable law.
NRS 81.921 - Apportionment and distribution of net earnings and losses.
NRS 81.925 - Reserve accounts; allocation of indivisible reserve account upon dissolution or sale.
NRS 81.927 - Authority to operate as internal capital account cooperative; accounts.
NRS 81.933 - Membership shares; voting power of shares other than membership shares.
NRS 81.935 - Procedure for expulsion, termination or suspension of member.
NRS 81.937 - Action challenging expulsion, termination or suspension of member.
NRS 81.943 - Contents of notice.
NRS 81.945 - Means of providing notice; affidavit is prima facie evidence of proper notice.
NRS 81.949 - Electronic notice of meeting not authorized in certain circumstances.
NRS 81.951 - Meetings adjourned to another time or place.
NRS 81.955 - Use of written ballots.
NRS 81.957 - Revocation of election to be governed as worker cooperative.