- 1. A majority of the directors on the board of directors of a worker cooperative must be members.
- 2. The board of directors shall meet with the members not less than annually.
- 3. A majority vote of the members shall override any decision by the board of directors, unless the articles of incorporation or bylaws of the worker cooperative require a larger percentage of the vote to override such a decision.
- 4. A meeting in which the members will vote whether to override a decision of the board of directors must be called by at least 5 percent of the members.
5. The board of directors of a worker cooperative, in exercising their respective powers with a view of the interests of the worker cooperative, may:
(a) Consider all relevant facts, circumstances, contingencies or constituencies, including, without limitation:
- (1) The interests of the members, employees, suppliers, creditors and customers of the worker cooperative;
- (2) The economy of this State or the nation;
- (3) The interests of the community or society;
- (4) The local and global environment;
- (5) The long-term and short-term interests of the worker cooperative, including, without limitation, the possibility that such interests may be best served by control of the worker cooperative remaining unchanged; and
- (6) The long-term and short-term interests of the members and shareholders, as applicable, of the worker cooperative.
- (b) Consider or assign weight to the interests of any particular person or group, or to any other relevant facts, circumstances, contingencies or constituencies.
(Added to NRS by 2019, 908)