Nev. Rev. Stat. § 86.095

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 86.095 - "Noneconomic member" defined
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.

NRS 86.095

Added to NRS by 2001, 1384; A 2001, 3199; 2021, 1514
Amended by 2021, Ch. 281,§21, eff. 10/1/2021.
Added to NRS by 2001, 1384; A 2001, 3199