Nevada Revised Statutes 86.141 – Purpose for organization; prohibition against organization of limited-liability company for certain illegal purposes
Current as of: 2023 | Check for updates
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1. Except as otherwise provided in subsection 2, a limited-liability company may be organized under this chapter for any lawful purpose. A person shall not organize a limited-liability company for any illegal purpose or with the fraudulent intent to conceal any business activity, or lack thereof, from another person or a governmental agency.
Terms Used In Nevada Revised Statutes 86.141
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. A limited-liability company may not be organized for the purpose of insurance unless approved to do so by the Commissioner of Insurance.