Nevada Revised Statutes (Last Updated: December 24, 2014) |
TITLE7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES |
CHAPTER86. Limited-Liability Companies |
OPERATION |
NRS86.301. Limitation on authority to contract debt or incur liability.
Latest version.
- Except as otherwise provided in this chapter, its articles of organization or its operating agreement, no debt may be contracted or liability incurred by or on behalf of a limited-liability company, except by:
1. One or more managers of a company which is managed by a manager or managers;
2. Any member of a company which is managed by its members;
3. Any agent, officer, employee or other representative of the company authorized in the operating agreement or in another writing by a manager or managers, if the company is managed by a manager or managers; or
4. Any agent, officer, employee or other representative of the company authorized in the operating agreement or in another writing by a member, if the company is managed by its members.
(Added to NRS by 1991, 1300; A 1997, 719; 1999, 1615; 2001, 1391, 3199; 2003, 3140)