NRS81.855. Distributions prohibited; compensation and other permitted payments.

Latest version.

      1. Except as otherwise provided in subsection 2, an unincorporated nonprofit association may not pay dividends or make distributions to a member or manager.

      2. An unincorporated nonprofit association may:

      (a) Pay reasonable compensation or reimburse reasonable expenses to a member or manager for services rendered;

      (b) Confer benefits on a member or manager in conformity with its nonprofit purposes;

      (c) Repurchase a membership and repay a capital contribution made by a member to the extent authorized by its governing principles; or

      (d) Make distributions of property to members upon winding up and termination to the extent permitted by NRS 81.870.

(Added to NRS by 2009, 698)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');