Nevada § 86.141 Purpose for organization; prohibition against organization of limited-liability company for certain illegal purposes

Nevada Statutes

§ 86.141 — Purpose for organization; prohibition against organization of limited-liability company for certain illegal purposes

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

1.Except as otherwise provided in subsection 2, a limited-liability company may be organized under this chapter for any lawful purpose. A person shall not organize a limited-liability company for any illegal purpose or with the fraudulent intent to conceal any business activity, or lack thereof, from another person or a governmental agency.

2.A limited-liability company may not be organized for the purpose of insurance unless approved to do so by the Commissioner of Insurance.

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1. Except as otherwise provided in subsection 2, a limited-liability company may be organized under this chapter for any lawful purpose. A person shall not organize a limited-liability company for any illegal purpose or with the fraudulent intent to conceal any business activity, or lack thereof, from another person or a governmental agency.
2. A limited-liability company may not be organized for the purpose of insurance unless approved to do so by the Commissioner of Insurance.

Nevada § 86.141 (Purpose for organization; prohibition against organization of limited-liability company for certain illegal purposes) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.