Nevada Revised Statutes 244.199 – Liability or action against nonprofit corporation; nonprofit corporation deemed political subdivision of State
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Any liability or action against a nonprofit corporation formed pursuant to NRS 244.197 must be determined in the same manner and with the same limitations and conditions as provided in NRS 41.0305 to 41.039, inclusive. To this extent, the nonprofit corporation shall be deemed a political subdivision of the State and the members of the board of directors shall be deemed employees of the political subdivision.
Terms Used In Nevada Revised Statutes 244.199
- 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.