1. Whenever any corporation becomes insolvent or suspends its ordinary business for want of funds to carry on the business, or if its business has been and is being conducted at a great loss and greatly prejudicial to the interest of its creditors or members, creditors holding 10 percent of the outstanding indebtedness, or members, if any, having 10 percent of the voting power to elect directors, may, by petition or bill of complaint setting forth the facts and circumstances of the case, apply to the district court of the county in which the principal office of the corporation is located or to the district court in the county in which the corporation’s registered office is located for a writ of injunction and the appointment of a receiver or receivers or trustee or trustees.
2. The court, being satisfied by affidavit or otherwise of the sufficiency of the application and of the truth of the allegations contained in the petition or bill, and upon hearing after such notice as the court by order may direct, shall proceed in a summary way to hear the affidavits, proofs and allegations which may be offered in behalf of the parties.
3. If upon the inquiry it appears to the court that the corporation has become insolvent and is not about to resume its business in a short time thereafter, or that its business has been and is being conducted at a great loss and greatly prejudicial to the interests of its creditors or members, so that its business cannot be conducted with safety to the public, it may issue an injunction to restrain the corporation and its officers and agents from exercising any of its privileges or franchises and from collecting or receiving any debts or paying out, selling, assigning or transferring any of its estate, money, funds, lands, tenements or effects, except to a receiver appointed by the court, until the court otherwise orders.
(Added to NRS by 1991, 1287; A 1999, 1606; 2007, 2662; 2009, 1689)
Structure Nevada Revised Statutes
Chapter 82 - Nonprofit Corporations
NRS 82.011 - "Articles of incorporation" and "articles" defined.
NRS 82.016 - "Corporation" defined.
NRS 82.021 - "Corporation for public benefit" defined.
NRS 82.026 - "Directors" and "trustees" defined.
NRS 82.031 - "Member" defined.
NRS 82.034 - "Principal office" defined.
NRS 82.036 - "Receiver" defined.
NRS 82.041 - "Registered office" defined.
NRS 82.046 - Construction of chapter.
NRS 82.056 - Election of existing corporation to accept chapter: Eligibility; procedure.
NRS 82.061 - Election of existing corporation to accept chapter: Filing requirements; contents.
NRS 82.066 - Election of existing and expired corporation to accept chapter: Effect.
NRS 82.071 - Limitations on eligibility to organize under chapter.
NRS 82.076 - Effect of amendment or repeal of chapter; chapter is part of corporation’s charter.
NRS 82.086 - Articles of incorporation: Required provisions.
NRS 82.091 - Articles of incorporation: Optional provisions.
NRS 82.101 - Name of corporation: Reservation; injunctive relief.
NRS 82.111 - Commencement of corporate existence.
NRS 82.116 - Acceptable evidence of incorporation.
NRS 82.126 - Adoption and use of corporate seal or stamp.
NRS 82.136 - Restrictions: Issuance of stock; pecuniary gain of members; distributions.
NRS 82.196 - Board of directors or trustees: Number and qualifications of members.
NRS 82.201 - Board of directors or trustees: General powers.
NRS 82.206 - Committees of board of directors: Designation; powers; names; membership.
NRS 82.211 - Officers of corporation: Selection; terms; duties.
NRS 82.216 - Authority of directors and representatives of corporation.
NRS 82.236 - Transfer of membership.
NRS 82.241 - Personal liability of members; imposition of dues, assessments or fees.
NRS 82.251 - Expulsion of member; suspension or termination of membership.
NRS 82.256 - Purchase of membership by corporation.
NRS 82.266 - Place of members’, delegates’ and directors’ meetings.
NRS 82.276 - Consent of members in lieu of meeting; alternative means for participating at meeting.
NRS 82.281 - Actions at meetings not regularly called: Consent, ratification and approval.
NRS 82.286 - Election of directors and delegates; classification of directors.
NRS 82.291 - Meetings of members or delegates: Quorum.
NRS 82.296 - Directors: Removal; filling of vacancies.
NRS 82.301 - Effect of failure to elect director on designated day.
NRS 82.306 - Election of directors by order of court upon failure of regular election.
NRS 82.311 - Provisional director: Appointment; qualifications; rights and powers; removal.
NRS 82.321 - Members’ proxies.
NRS 82.326 - Action of members by written ballot in lieu of meeting.
NRS 82.331 - Cumulative voting.
NRS 82.336 - Delegates and members: Special meetings; notices.
NRS 82.341 - Waiver of notice.
NRS 82.346 - Amendment of articles before first meeting of directors.
NRS 82.351 - Amendment of articles: Scope of amendments.
NRS 82.356 - Amendment of articles: Procedure.
NRS 82.371 - Restatement of articles.
NRS 82.436 - Sale, lease or exchange of assets: Authority; procedure.
NRS 82.446 - Voluntary dissolution at request of members.
NRS 82.461 - Dissolved corporations: Duties of person appointed or authorized to act in liquidation.
NRS 82.466 - Reorganization under federal law.
NRS 82.476 - Receivers or trustees for insolvent corporations: Appointment; powers and duties.
NRS 82.481 - Authority of court to reconvey property back to or dissolve corporation.
NRS 82.486 - Involuntary dissolution: Authority and grounds for application.
NRS 82.496 - Involuntary dissolution: General powers of court.
NRS 82.501 - Limitation on time for creditors’ claims; notice to creditors.
NRS 82.506 - Presentation of creditors’ claims; examination of creditors and witnesses.
NRS 82.511 - Abatement of actions against receivers.
NRS 82.516 - Payment of creditors and distribution of surplus.
NRS 82.521 - Employees’ liens for wages.
NRS 82.5231 - Certificate of authorization to transact business.
NRS 82.5233 - Addresses of officers required; failure to file.
NRS 82.5236 - Defaulting corporations: Duties of Secretary of State.
NRS 82.5237 - Defaulting corporations: Conditions and procedure for reinstatement.
NRS 82.5239 - Defaulting corporations: Reinstatement or revival under old or new name; regulations.
NRS 82.525 - Form required for filing of records.
NRS 82.526 - Corporate records: Microfilming; imaging; return.
NRS 82.528 - Filing of records written in language other than English.
NRS 82.536 - Attorney General: Examination of corporate affairs; powers of enforcement.
NRS 82.546 - Renewal or revival of charter: Procedure; fee; certificate as evidence.