{"data":{"id":"us-nv/nrs-81.505","jurisdiction":"us-nv","citation":"NRS 81.505","heading":"Restriction on power of rural electric cooperatives to sell, lease or dispose of assets.","body":"1. A rural electric cooperative formed or consolidated pursuant to NRS 81.410 to 81.540, inclusive, may sell, lease or otherwise dispose of all or a substantial portion of its assets only if the sale, lease or disposition is:\n(a) Authorized by the affirmative vote of not less than three-fourths of the directors of the cooperative; and\n(b) Assented to by two-thirds of the members of the cooperative:\n(1) In writing; or\n(2) By a vote of the members at a meeting, notice of which has been given in the manner provided in NRS 82.336.\n2. As used in this section, “substantial portion of its assets” means any portion of the assets of a cooperative representing 25 percent or more of the total book value of all of its assets.","path":["TITLE 7 — BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES","CHAPTER 81 - MISCELLANEOUS ORGANIZATIONS","NONPROFIT COOPERATIVE CORPORATIONS WITHOUT STOCK"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-081.html#NRS081Sec505","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:31Z","sha256":"98fe1b2ac4ad7424687b3a8835b3e19773a64f12d9b3c05762e60a97f2987390","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-81.500","next":"us-nv/nrs-81.507"},"notice":"GroundRules: Original legal text. Not legal advice."}