This office lease provision states that it is an unpermitted assignment for partners to have a change in their share of partnership ownership and thus a default under the lease. Generally, this type of change in ownership is couched in those provisions dealing with changes in share ownerships of corporations.
Nevada Provision Dealing with Changes in Share Ownership of Corporations and Changes in Share Ownership of Partnership
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NRS 78.138 - Directors and officers: Fiduciary duties; exercise of powers; presumptions and considerations; liability to corporation, stockholders and creditors. 1. The fiduciary duties of directors and officers are to exercise their respective powers in good faith and with a view to the interests of the corporation.
Nevada law contains a provision governing ?acquisition of controlling interest.? This law provides generally that any person or entity that acquires 20% or more of the outstanding voting shares of a publicly-held Nevada corporation in the secondary public or private market may be denied voting rights with respect to ...
Although Nevada is one of the few states that doesn't require corporations to adopt bylaws, it's highly recommended to adopt and customize bylaws for the success of your company.
Chapter 78 Private Corporations. NRS 78.315 Directors' meetings: Quorum; consent for actions taken without meeting; participation by telephone or similar method. NRS 78.315 Directors' meetings: Quorum; consent for actions taken without meeting; participation by telephone or similar method.
The Nevada Business Corporation Act allows businesses to be formed to conduct any lawful business. The act allows for a corporation to serve a purpose aside from those stated in the articles of corporations.
Does Nevada require corporate bylaws? No. Nevada is one of few states that doesn't order corporations to adopt bylaws.
