Nevada § 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

Nevada 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

Nevada·Title 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES·Ch. 81 Miscellaneous· Members and Directors

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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.

Nevada § 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) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.