Nevada Revised Statutes 318.525 – Reorganization of governing bodies of certain districts; exercise of powers under chapter 318 of NRS
of NRS.
Terms Used In Nevada Revised Statutes 318.525
- 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. Chapter 542, Statutes of Nevada 1967, does not affect the corporate existence nor the area included within the boundaries of any district organized or reorganized before May 1, 1967, under any chapter in this title, but the governing body of any such district (excluding any housing authority or other municipal corporation subject to the provisions of chapter 315 of NRS, and excluding any district organized or reorganized before May 1, 1967, under and already subject to the provisions of this chapter 318 of NRS) shall reorganize as provided in this chapter as amended by chapter 542, Statutes of Nevada 1967.
2. Any district organized or reorganized before May 1, 1967, under and exercising powers as provided in any chapter in this title (excluding chapters 315 and 318 of NRS) shall operate under and exercise powers pertaining to each basic power for which the district is organized or reorganized as provided in chapter 318 of NRS, including without limitation the provisions of the Special District Control Law to the extent it is applicable by the terms thereof.