Nevada Revised Statutes 623.349 – Formation of business organizations or associations with persons outside of field of practice or with unregistered or unlicensed persons: Conditions; limitations
1. Architects, registered interior designers, residential designers, professional engineers and landscape architects may join or form a partnership, corporation, limited-liability company or other business organization or association with registrants and licensees outside of their field of practice, or with persons who are not registered or licensed, if control and two-thirds ownership of the business organization or association is held by persons registered or licensed in this State pursuant to the applicable provisions of this chapter, chapter 623A or 625 of NRS.
Terms Used In Nevada Revised Statutes 623.349
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
2. If a partnership, corporation, limited-liability company or other form of business organization or association wishes to practice pursuant to the provisions of this section, it must:
(a) Demonstrate to the Board that it is in compliance with all provisions of this section.
(b) Pay the fee for a certificate of registration pursuant to NRS 623.310.
(c) Qualify to do business in this State.
(d) If it is a corporation, register with the Board and furnish to the Board a complete list of all stockholders when it first files with the Board and annually thereafter within 30 days after the annual meeting of the stockholders of the corporation, showing the number of shares held by each stockholder.
(e) If it is a partnership, limited-liability company or other form of business organization or association, register with the Board and furnish to the Board such information analogous to that required by paragraph (d) as the Board may prescribe by regulation.
3. A partnership, corporation, limited-liability company or other form of business organization or association practicing under the provisions of this section may not perform, promote or advertise the services of a registrant or licensee unless that registrant or licensee is an owner of the business organization or association.
4. As used in this section, ‘control’ means the direct or indirect possession of the power to direct or cause the direction of the management and policies of a business organization or association.