Nevada Revised Statutes (Last Updated: December 24, 2014) |
TITLE7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES |
CHAPTER86. Limited-Liability Companies |
ORGANIZATION |
NRS86.141. Purpose for organization; prohibition against organization of limited-liability company for certain illegal purposes.
Latest version.
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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.
(Added to NRS by 1991, 1293; A 1995, 496; 2005, 2257; 2013, 856)