Nevada Revised Statutes 87.560 – Operation of domestic partnership in another jurisdiction; registration of foreign registered limited-liability partnership
1. To the extent permitted by the law of that jurisdiction:
Terms Used In Nevada Revised Statutes 87.560
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(a) A partnership, including a registered limited-liability partnership, formed and existing under this chapter, may conduct its business, carry on its operations, and exercise the powers granted by this chapter in any state, territory, district or possession of the United States or in any foreign country.
(b) The internal affairs of a partnership, including a registered limited-liability partnership, formed and existing under this chapter, including the liability of partners for debts, obligations and liabilities of or chargeable to the partnership, are governed by the law of this State.
2. Subject to any statutes for the regulation and control of specific types of business, a registered limited-liability partnership, formed and existing under the law of another jurisdiction, may do business in this State if it first registers with the Secretary of State pursuant to the provisions of NRS 87.440 to 87.500, inclusive, and 87.5405 to 87.5443, inclusive.
3. The name of a partnership that is registered as a limited-liability partnership in another jurisdiction and doing business in this State must contain the words ‘Limited-Liability Partnership‘ or ‘Registered Limited-Liability Partnership’ or the abbreviations ‘L.L.P.’ or ‘LLP,’ or such other words or abbreviations as may be required or authorized by the law of the other jurisdiction, as the last words or letters of the name.