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NRS 86.101 Operating agreement defined. Operating agreement means any valid agreement of the members as to the affairs of a limited-liability company and the conduct of its business, whether in any tangible or electronic format. (Added to NRS by 1991, 1293; A 2011, 779) NRS 86.105 Personal representative defined.
"Nevada regulations" refers to rules and administrative codes issued by governmental agencies of the State of Nevada. Although they are not laws, regulations have the force of law since they are adopted under authority granted by the Nevada Legislature.
Bylaws set out the internal governance rules of a corporation. Under Chapter 78 of the Nevada Revised Statutes (Nevada Corporations Act) (NRS 78.010 et seq.), a corporation may, but need not, adopt bylaws consistent with federal and Nevada law for: The management, regulation, and government of its affairs and property.
NRS means the Nevada Revised Statutes.
Nevada does have a general law providing for the organization of corporations, but it does not carry the name "Nevada General Corporation Law". It is simply Chapter 78 of Nevada Revised Statutes.
Bluebook Citation FormatNev. Admin. Code § section number (Year).
The Nevada Administrative Code (NAC) is the codified, administrative regulations of the Executive Branch. The Nevada Register is a compilation of proposed, adopted, emergency and temporary administrative regulations, notices of intent and informational statements.
NRS 78.028 Filing of records written in language other than English. NRS 78.0285 Secretary of State authorized to adopt certain regulations to allow corporation to carry out powers and duties through most recent technology.
50307. (a) Each residential mortgage lender or servicer licensee shall file a report with the commissioner annually, on or before the first day of March, giving the relevant information that the commissioner reasonably requires to make the calculation required by subdivision (a) of Section 50401.
In operation, a close corporation is a corporation whose shareholders and directors are entitled to operate much like a partnership. Typically, shareholders must agree unanimously to close corporation status, and a written shareholders' agreement governing the affairs of the corporation must be drafted.