Nevada Revised Statutes 78A.170 – Time of termination of status
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A close corporation is subject to the provisions of this chapter until:
Terms Used In Nevada Revised Statutes 78A.170
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
1. The corporation files with the Secretary of State a certificate of amendment deleting from the articles of incorporation the provisions required or permitted by NRS 78A.020, to be stated in the articles of incorporation; or
2. A provision or condition required or permitted by NRS 78A.020 to be stated in the articles of incorporation has been breached and the corporation or any stockholder has not acted pursuant to NRS 78A.190 to prevent the loss of status or remedy the breach.