Restriction on power of rural electric cooperatives to sell, lease or dispose of assets.
Nev. Rev. Stat. § 81.505
in effect1. 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:
(a) Authorized by the affirmative vote of not less than three-fourths of the directors of the cooperative; and
(b) Assented to by two-thirds of the members of the cooperative:
(1) In writing; or
(2) By a vote of the members at a meeting, notice of which has been given in the manner provided in NRS 82.336 .
2. 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.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-081.htmlFetched: 10/4/2026