Nevada Revised Statutes 244.1995 – Dissolution
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Upon the dissolution of a nonprofit corporation formed pursuant to NRS 244.197, the assets of the nonprofit corporation must be distributed to the county which formed the nonprofit corporation and used in a manner consistent with the purposes of the nonprofit corporation.
Terms Used In Nevada Revised Statutes 244.1995
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- county: includes Carson City. See Nevada Revised Statutes 0.033