Nevada Revised Statutes 82.241 – Personal liability of members; imposition of dues, assessments or fees
1. A member of a corporation is not, as such, personally liable for the acts, debts, liabilities or obligations of the corporation.
Terms Used In Nevada Revised Statutes 82.241
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
2. When authority to do so is conferred by the articles or bylaws and subject to any limitations contained in the articles or bylaws, a corporation may levy dues, assessments or fees upon its members. The dues, assessments or fees may be imposed upon all classes of members alike or differently upon different classes of members. Members of one or more classes may be exempted.
3. A corporation in its articles or bylaws may:
(a) Fix the amount of the levy and the method of collection of dues, assessments or fees; or
(b) Authorize the directors to fix the amount from time to time and determine the methods of collection.
4. A corporation in its articles and bylaws may provide for:
(a) The enforcement or collection of dues, assessments or fees;
(b) The cancellation of membership, on reasonable notice, for nonpayment of dues, assessments or fees; and
(c) The reinstatement of membership.