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Nevada · Through 2025 session (NRS as revised 2026-08-25) · Newer source version available

NRS 81.855: Distributions prohibited; compensation and other permitted payments.

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Where this section sits in the code
  1. TITLE 7 — BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES
  2. CHAPTER 81 - MISCELLANEOUS ORGANIZATIONS
  3. UNINCORPORATED NONPROFIT ASSOCIATIONS (UNIFORM ACT)
  4. Members and Managers

1. Except as otherwise provided in subsection 2, an unincorporated nonprofit association may not pay dividends or make distributions to a member or manager.

2. An unincorporated nonprofit association may:

(a) Pay reasonable compensation or reimburse reasonable expenses to a member or manager for services rendered;

(b) Confer benefits on a member or manager in conformity with its nonprofit purposes;

(c) Repurchase a membership and repay a capital contribution made by a member to the extent authorized by its governing principles; or

(d) Make distributions of property to members upon winding up and termination to the extent permitted by NRS 81.870.

Collected 2026-09-03T05:51:31Z. Source file · JSON

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