Nevada Revised Statutes 89.050 – Scope of business; property and investments; professional services by officers and employees
1. Except as otherwise provided in subsection 2, a professional entity may be organized only for the purpose of rendering one specific type of professional service and may not engage in any business other than rendering the professional service for which it was organized and services reasonably related thereto, except that a professional entity may own real and personal property appropriate to its business and may invest its money in any form of real property, securities or any other type of investment.
Terms Used In Nevada Revised Statutes 89.050
- Licensed: means legally authorized by the appropriate regulating board of this State to engage in a regulated profession in this State. See Nevada Revised Statutes 89.020
- Personal property: All property that is not real property.
- Professional entity: means either a professional corporation or a professional limited-liability company. See Nevada Revised Statutes 89.020
- Professional service: means any type of personal service which may legally be performed only pursuant to a license, certificate of registration or other legal authorization. See Nevada Revised Statutes 89.020
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
2. A professional entity may be organized to render a professional service relating to:
(a) Architecture, interior design, residential design, engineering and landscape architecture, or any combination thereof, and may be composed of persons:
(1) Engaged in the practice of architecture as provided in chapter 623 of NRS;
(2) Practicing as a registered interior designer as provided in chapter 623 of NRS;
(3) Engaged in the practice of residential design as provided in chapter 623 of NRS;
(4) Engaged in the practice of landscape architecture as provided in chapter 623A of NRS; and
(5) Engaged in the practice of professional engineering as provided in chapter 625 of NRS.
(b) Medicine, homeopathy, osteopathy, naprapathy, chiropractic and psychology, or any combination thereof, and may be composed of persons engaged in the practice of:
(1) Medicine as provided in chapter 630 of NRS;
(2) Homeopathic medicine as provided in chapter 630A of NRS;
(3) Osteopathic medicine as provided in chapter 633 of NRS;
(4) Chiropractic as provided in chapter 634 of NRS;
(5) Naprapathy as provided in chapter 634B of NRS; and
(6) Psychology and licensed to provide services pursuant to chapter 641 of NRS. Such a professional entity may market and manage additional professional entities which are organized to render a professional service relating to medicine, homeopathy, osteopathy, naprapathy, chiropractic and psychology.
(c) Mental health services, and may be composed of the following persons, in any number and in any combination:
(1) Any psychologist who is licensed to practice in this State;
(2) Any social worker who holds a master’s degree in social work and who is licensed by this State as a clinical social worker;
(3) Any registered nurse who is licensed to practice professional nursing in this State and who holds a master’s degree in the field of psychiatric nursing;
(4) Any marriage and family therapist who is licensed by this State pursuant to chapter 641A of NRS; and
(5) Any clinical professional counselor who is licensed by this State pursuant to chapter 641A of NRS. Such a professional entity may market and manage additional professional entities which are organized to render a professional service relating to mental health services pursuant to this paragraph.
3. A professional entity may render a professional service only through its officers, managers and employees who are licensed or otherwise authorized by law to render the professional service.