Nevada § 86.095 “Noneconomic member” defined

Nevada Statutes

§ 86.095 — “Noneconomic member” defined

Nevada·Title 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES·Ch. 86 Limited-Liability· GENERAL PROVISIONS

1. “Noneconomic member” means a member of a limited-liability company who:

(a)Does not own a member’s interest in the company;

(b)Does not have an obligation to contribute capital to the company;

(c)Does not have a right to participate in or receive distributions from the company or an obligation to contribute to the losses of the company; and

(d)May have voting rights and other rights and privileges given to noneconomic members of the company by the articles of organization or operating agreement. 2. As used in this section, “distribution” has the meaning ascribed to it in NRS 86.279 .

Free access — add to your briefcase to read the full text and ask questions with AI

1. “Noneconomic member” means a member of a limited-liability company who:
(a) Does not own a member’s interest in the company;
(b) Does not have an obligation to contribute capital to the company;
(c) Does not have a right to participate in or receive distributions from the company or an obligation to contribute to the losses of the company; and
(d) May have voting rights and other rights and privileges given to noneconomic members of the company by the articles of organization or operating agreement.
2. As used in this section, “distribution” has the meaning ascribed to it in NRS 86.279 .

Nevada § 86.095 (“Noneconomic member” defined) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.