NRS 81.855: Distributions prohibited; compensation and other permitted payments.
Where this section sits in the code
- TITLE 7 — BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES
- CHAPTER 81 - MISCELLANEOUS ORGANIZATIONS
- UNINCORPORATED NONPROFIT ASSOCIATIONS (UNIFORM ACT)
- 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