Nevada Revised Statutes
Chapter 86 - Limited-Liability Companies

NRS 86.061 - "Limited-liability company" and "company" defined. - "Limited-liability company" or "company" means a limited-liability company organized by...

NRS 86.065 - "Majority in interest" defined. - Repealed. (See chapter 281, Statutes of Nevada 2021, at page...

NRS 86.071 - "Manager" defined. - "Manager" means a person, or one of several persons, designated...

NRS 86.081 - "Member" defined. - "Member" means the owner of a member’s interest in a...

NRS 86.091 - "Member’s interest" defined. - "Member’s interest" means a share of the economic interests in...

NRS 86.095 - "Noneconomic member" defined. - 1. "Noneconomic member" means a member of a limited-liability company...

NRS 86.101 - "Operating agreement" defined. - "Operating agreement" means any valid agreement of the members as...

NRS 86.105 - "Personal representative" defined. - "Personal representative" means: 1. In reference to a natural person,...

NRS 86.111 - "Real property" defined. - "Real property" includes land, any interest, leasehold or estate in...

NRS 86.118 - "Registered agent" defined. - "Registered agent" has the meaning ascribed to it in NRS...

NRS 86.121 - "Registered office" defined. - "Registered office" of a limited-liability company means the office maintained...

NRS 86.1252 - "Restricted limited-liability company" defined. - "Restricted limited-liability company" means a limited-liability company organized and existing...

NRS 86.1255 - "Series" and "series of members" defined. - "Series" and "series of members" are synonymous terms and, unless...

NRS 86.131 - Applicability of chapter to foreign and interstate commerce. - The provisions of this chapter apply to commerce with foreign...

NRS 86.135 - Amendment or repeal of provisions of chapter; chapter deemed part of articles of company. - The provisions of this chapter may be amended or repealed...

NRS 86.137 - Secretary of State authorized to adopt certain regulations to allow limited-liability company to carry out powers and duties through most recent technology. - The Secretary of State may adopt regulations to define, for...

NRS 86.138 - Company records: Manner of storage; conversion of electronic records into clear and legible paper form; admissibility in evidence of electronic records. - 1. Except as otherwise required by federal or state law,...

NRS 86.141 - Purpose for organization; prohibition against organization of limited-liability company for certain illegal purposes. - 1. Except as otherwise provided in subsection 2, a limited-liability...

NRS 86.151 - Filing requirements. - 1. One or more persons may form a limited-liability company...

NRS 86.155 - Perpetual existence of company. - Unless otherwise provided in its articles of organization or operating...

NRS 86.161 - Articles of organization: Required and optional provisions. - 1. The articles of organization must set forth: (a) The...

NRS 86.171 - Name of company: Distinguishable name required; availability of name of revoked, merged or otherwise terminated company; limitations; regulations. - 1. The name of a limited-liability company formed under the...

NRS 86.176 - Name of company: Reservation; injunctive relief. - 1. The Secretary of State, when requested so to do,...

NRS 86.201 - Commencement of organizational existence. - 1. A limited-liability company is considered legally organized pursuant to...

NRS 86.211 - Articles of organization: Notice imparted by filing. - The fact that the articles of organization are on file...

NRS 86.213 - Penalty for purporting to do business as limited-liability company without filing articles of organization; enforcement; regulations. - 1. Every person, other than a foreign limited-liability company, who...

NRS 86.216 - Amendment of articles of organization before issuance of member’s interest. - 1. For any limited-liability company where management is vested in...

NRS 86.221 - Amendment and restatement of articles of organization. - 1. The articles of organization of a limited-liability company may...

NRS 86.226 - Filing and effectiveness of certificate of amendment or judicial decree of amendment. - 1. A signed certificate of amendment, or a certified copy...

NRS 86.231 - Registered agent required; address of registered office. - A limited-liability company shall have a registered agent who must...

NRS 86.236 - Registered agent of series; service of process, notice or demand upon series. - 1. If the articles of organization or operating agreement of...

NRS 86.241 - Maintenance of records at principal office in State or with custodian of records; right of members and managers to obtain or examine records. - 1. Each limited-liability company shall continuously keep at its principal...

NRS 86.243 - Denial of right to obtain or examine records; action to enforce right to obtain or examine records; defense to action for penalties or damages; authority of court to compel production of records. - 1. The rights authorized by NRS 86.241 may be denied...

NRS 86.246 - Requirement to provide to Secretary of State name and contact information of custodian of list of members and managers; requirement to assist in criminal investigation; failure to comply; regulations. - 1. Upon the request of the Secretary of State, a...

NRS 86.251 - Resignation of registered agent or termination of registration of commercial registered agent. - 1. If a registered agent resigns pursuant to NRS 77.370...

NRS 86.261 - Service of process, notice or demand upon registered agent. - 1. The registered agent appointed by a limited-liability company is...

NRS 86.263 - Filing requirements; fees; notice; regulations. - 1. A limited-liability company shall, at the time of the...

NRS 86.264 - Additional filing requirements for certain companies: Criteria; statement; fees. - 1. At the time of submitting any list required pursuant...

NRS 86.266 - Certificate of authorization to transact business. - If a limited-liability company has filed the initial or annual...

NRS 86.269 - Addresses of managers and members required; failure to file. - 1. Each list required to be filed under the provisions...

NRS 86.272 - Defaulting companies: Identification; reinstatement; penalty. - 1. Each limited-liability company which is required to make a...

NRS 86.274 - Defaulting companies: Duties of Secretary of State; forfeiture; distribution of assets. - 1. The Secretary of State shall notify, by providing written...

NRS 86.276 - Defaulting companies: Conditions and procedure for reinstatement. - 1. Except as otherwise provided in subsections 3 and 4...

NRS 86.278 - Defaulting companies: Reinstatement under old or new name; regulations. - 1. Except as otherwise provided in subsection 2, if a...

NRS 86.279 - "Distribution" defined. - As used in NRS 86.279 to 86.351, inclusive, unless the...

NRS 86.281 - General powers. - A limited-liability company organized and existing pursuant to this chapter,...

NRS 86.286 - Operating agreement. - 1. A limited-liability company may, but is not required to,...

NRS 86.291 - Management. - 1. Except as otherwise provided in this section or in...

NRS 86.293 - Noneconomic members. - The articles of organization or operating agreement of a limited-liability...

NRS 86.296 - Classes of members or managers; series of members. - 1. The articles of organization or operating agreement of a...

NRS 86.298 - Duties of manager or managing member. - The duties of a manager or managing member of a...

NRS 86.301 - Limitation on authority to contract debt or incur liability. - Except as otherwise provided in this chapter, the articles of...

NRS 86.311 - Acquisition, ownership and disposition of property by company and series. - 1. Except as otherwise provided in subsection 2, real and...

NRS 86.321 - Contributions to capital: Form. - For purposes of this chapter, a contribution to capital of...

NRS 86.326 - Admission of members; member has no preemptive right to acquire certain interests; exception. - 1. A person is admitted as an initial member of...

NRS 86.331 - Resignation or withdrawal of member: Limitation; payment to member who rightfully resigns or withdraws. - 1. Except as otherwise provided in chapter 463 of NRS,...

NRS 86.335 - Resignation or withdrawal of member in violation of operating agreement; loss of right to participate upon resignation or withdrawal. - Except as otherwise provided in this chapter, chapter 463 of...

NRS 86.341 - Distributions: Generally. - A limited-liability company may, from time to time, make distributions...

NRS 86.343 - Distributions: Prohibition; applicable determinations; liability of member for violation. - 1. Except as otherwise provided in subsection 2, a distribution...

NRS 86.345 - Distributions: Limitations applicable to restricted limited-liability companies. - 1. If a limited-liability company has elected in its articles...

NRS 86.346 - Distributions: Form; status of member or transferee. - 1. Unless otherwise provided in the operating agreement, a member,...

NRS 86.351 - Nature and transfer of member’s interest; rights of transferee; substituted members. - 1. The interest of each member of a limited-liability company...

NRS 86.361 - Liability of persons assuming to act as company without authority. - All persons who assume to act as a limited-liability company...

NRS 86.371 - Liability of member or manager for debts or liabilities of company. - Unless otherwise provided in the articles of organization or an...

NRS 86.376 - Liability of person who acts as alter ego of company for debts or liabilities of company. - 1. Except as otherwise specifically provided by statute or agreement,...

NRS 86.381 - Member of company is not proper party in proceeding by or against company; exception. - A member of a limited-liability company is not a proper...

NRS 86.391 - Liability of member to company. - 1. A member is liable to a limited-liability company: (a)...

NRS 86.401 - Rights and remedies of creditor of member. - 1. On application to a court of competent jurisdiction by...

NRS 86.411 - Indemnification of manager, member, employee or agent: Proceeding other than by company. - A limited-liability company may indemnify any person who was or...

NRS 86.421 - Indemnification of manager, member, employee or agent: Proceeding by company. - A limited-liability company may indemnify any person who was or...

NRS 86.431 - Indemnification of manager, member, employee or agent: Scope; authorization. - 1. To the extent that a manager, member, employee or...

NRS 86.441 - Indemnification of member or manager: Advancement of expenses. - The articles of organization, the operating agreement or a separate...

NRS 86.451 - Indemnification of manager, member, employee or agent: Effect of provisions on other rights; continuation after cessation of status. - Indemnification or advancement of expenses authorized in or ordered by...

NRS 86.461 - Maintenance of insurance or other financial arrangements against liability of member, manager, employee or agent. - 1. A limited-liability company may purchase and maintain insurance or...

NRS 86.471 - Effect of providing insurance or other financial arrangements against liability of member, manager, employee or agent. - In the absence of fraud: 1. The decision of a...

NRS 86.481 - Exclusion of company which provides self-insurance from title 57 of NRS. - A limited-liability company or its subsidiary which provides self-insurance for...

NRS 86.483 - Authority of member to bring action. - A member, including a noneconomic member unless otherwise prohibited by...

NRS 86.485 - Qualifications of plaintiff. - In a derivative action, the plaintiff must be a member...

NRS 86.487 - Pleading. - In a derivative action, the complaint must set forth with...

NRS 86.489 - Expenses. - If a derivative action is successful, in whole or in...

NRS 86.4895 - Dissolution of company whose charter has been revoked without additional fees and penalties; regulations. - 1. The Secretary of State shall authorize a limited-liability company...

NRS 86.490 - Dissolution before commencement of business; limitations. - 1. Before the commencement of business by any limited-liability company...

NRS 86.491 - Events requiring dissolution and winding up of affairs; powers and duties of person winding up affairs; effect of certain events affecting member. - 1. A limited-liability company must be dissolved and its affairs...

NRS 86.495 - Dissolution by decree of court; termination of series by decree of court. - 1. Upon application by or for a member, the district...

NRS 86.505 - Continuation of company after dissolution for winding up of affairs; limitation on actions by or against dissolved company or its managers or members. - 1. The dissolution of a limited-liability company does not impair...

NRS 86.521 - Distribution of assets after dissolution. - 1. In settling accounts after dissolution, the liabilities of a...

NRS 86.531 - Articles of dissolution: Required provisions and signatories. - 1. Except in the case of a dissolution pursuant to...

NRS 86.541 - Filing and effectiveness of articles of dissolution; powers of trustees of dissolved company. - 1. The signed articles of dissolution must be filed with...

NRS 86.5411 - Application of creditors or members of insolvent company for injunction and appointment of receiver or trustee; hearing. - 1. Whenever any limited-liability company becomes insolvent or suspends its...

NRS 86.5412 - Appointment of receiver or trustee of insolvent company: Powers. - 1. The district court, at the time of ordering the...

NRS 86.5413 - Property and privileges of insolvent company vest in appointed receiver. - All real and personal property of an insolvent limited-liability company,...

NRS 86.5414 - Company may resume control upon payment of debts and receipt of capital to conduct business; order of court dissolving company and forfeiting charter. - 1. Whenever a receiver shall have been appointed pursuant to...

NRS 86.5415 - Members’ application for injunction and appointment of receiver when company mismanaged. - 1. Members holding not less than 10 percent in interest...

NRS 86.5416 - Reorganization of company by majority in interest of members during receivership. - Whenever a majority in interest of the members of the...

NRS 86.5417 - Powers of district court. - 1. The court shall have power to send for persons...

NRS 86.5418 - Receiver to take possession of company assets upon court order. - The receiver, upon order of the court, with the assistance...

NRS 86.5419 - Inventory, lists of debts and reports by receiver. - The receiver, as soon as convenient, shall lay before the...

NRS 86.542 - Creditors’ proofs of claims; when participation barred; notice. - All creditors shall present and make proof to the receiver...

NRS 86.5421 - Creditors’ claims to be in writing under oath; examination of claimants. - Every claim against any limited-liability company for which a receiver...

NRS 86.5422 - Action on creditors’ claims; appeal of disallowed claims. - 1. The clerk of the district court, immediately upon the...

NRS 86.5423 - Substitution of receiver as party; abatement of actions. - 1. A receiver, upon application by him or her, shall...

NRS 86.5424 - Sales of encumbered or deteriorating property. - Where property of an insolvent limited-liability company is at the...

NRS 86.5425 - Compensation, costs and expenses of receiver. - Before distribution of the assets of an insolvent limited-liability company...

NRS 86.5426 - Distribution of money to creditors and members. - After payment of all allowances, expenses and costs, and the...

NRS 86.5427 - Acts of majority of receivers effectual; removal and vacancies. - 1. Every matter and thing by this chapter required to...

NRS 86.5428 - Employees’ liens for wages when company insolvent. - 1. Whenever any limited-liability company becomes insolvent or is dissolved...

NRS 86.543 - Law governing organization, internal affairs and liability of managers and members. - Subject to the Constitution of this State: 1. The laws...

NRS 86.544 - Filing requirements; prohibition against registration for certain illegal purposes; required provisions of application for registration. - 1. Before transacting business in this State, a foreign limited-liability...

NRS 86.545 - Issuance of certificate of registration by Secretary of State. - If the Secretary of State finds that an application for...

NRS 86.546 - Name for registration. - A foreign limited-liability company may register with the Secretary of...

NRS 86.5461 - Annual list: Filing requirements; fees; powers and duties of Secretary of State; regulations. - 1. Each foreign limited-liability company doing business in this State...

NRS 86.54615 - List or statement to be maintained at principal office in State or with custodian of records; requirement to assist in criminal investigation; failure to comply; regulations. - 1. A foreign limited-liability company shall maintain at its principal...

NRS 86.5462 - Additional filing requirements for certain companies: Criteria; statement; fees. - 1. At the time of submitting any list required pursuant...

NRS 86.5463 - Certificate of authorization to transact business. - If a foreign limited-liability company has filed the initial or...

NRS 86.5464 - Addresses of managers or managing members required; failure to file. - 1. Each list required to be filed under the provisions...

NRS 86.5465 - Defaulting companies: Identification; forfeiture of right to transact business; penalty. - 1. Each foreign limited-liability company which is required to make...

NRS 86.5466 - Defaulting companies: Duties of Secretary of State. - 1. The Secretary of State shall notify, by providing written...

NRS 86.5467 - Defaulting companies: Conditions and procedure for reinstatement. - 1. Except as otherwise provided in subsections 3 and 4...

NRS 86.5468 - Defaulting companies: Reinstatement or revival under old or new name; regulations. - 1. Except as otherwise provided in subsection 2, if a...

NRS 86.5469 - Cancellation of registration without additional fees and penalties; regulations. - 1. The Secretary of State shall authorize a foreign limited-liability...

NRS 86.547 - Cancellation of registration. - 1. A foreign limited-liability company may cancel its registration by...

NRS 86.5475 - Renewal or revival of right to transact business: Procedure; fee; certificate as evidence; status of company. - 1. Except as otherwise provided in NRS 86.54615, a foreign...

NRS 86.548 - Penalty for transacting business without registration; enforcement; regulations. - 1. Every foreign limited-liability company transacting business in this State...

NRS 86.5483 - Activities not constituting transaction of business. - 1. For the purposes of NRS 86.543 to 86.549, inclusive,...

NRS 86.5487 - Determination of whether solicitation is made or accepted. - 1. For the purposes of NRS 86.5483, a solicitation of...

NRS 86.549 - Action by Attorney General to restrain transaction of business. - The Attorney General may bring an action to restrain a...

NRS 86.555 - Issuance of occupational or professional license to limited-liability company by board or commission; regulations. - 1. Except as otherwise provided by statute, an agency, board...

NRS 86.557 - Form required for filing of records. - 1. Each record filed with the Secretary of State pursuant...

NRS 86.561 - Fees. - 1. The Secretary of State shall charge and collect for:...

NRS 86.563 - Procedure to submit replacement page to Secretary of State before actual filing of record. - Before the issuance of members’ interests an organizer, and after...

NRS 86.566 - Filing of records written in language other than English. - No record which is written in a language other than...

NRS 86.568 - Correction of inaccurate or defective record filed with Secretary of State; cancellation of filings. - 1. A limited-liability company may correct a record filed in...

NRS 86.571 - Waiver of notice. - When, under the provisions of this chapter or under the...

NRS 86.580 - Renewal or revival of charter: Procedure; fee; certificate as evidence. - 1. Except as otherwise provided in NRS 86.246, a limited-liability...

NRS 86.590 - Renewal or revival of charter: Status of company. - A limited-liability company that has revived or renewed its charter...

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Nevada Revised Statutes Chapter 86 - Limited-Liability Companies

Nevada Revised Statutes
Chapter 86 - Limited-Liability Companies