{"data":{"id":"us-nv/nrs-81.840","jurisdiction":"us-nv","citation":"NRS 81.840","heading":"Duties of managers.","body":"1. A manager owes to the unincorporated nonprofit association and to its members the fiduciary duties of loyalty and care.\n2. A manager shall manage the unincorporated nonprofit association in good faith, in a manner the manager reasonably believes to be in the best interests of the association, and with such care, including reasonable inquiry, as a prudent person would reasonably exercise in a similar position and under similar circumstances. A manager may rely in good faith upon any opinion, report, statement or other information provided by another person that the manager reasonably believes is a competent and reliable source for the information.\n3. After full disclosure of all material facts, a specific act or transaction that would otherwise violate the duty of loyalty by a manager may be authorized or ratified by a majority of the members that are not interested directly or indirectly in the act or transaction.\n4. A manager that makes a business judgment in good faith satisfies the duties specified in subsection 1 if the manager:\n(a) Is not interested, directly or indirectly, in the subject of the business judgment and is otherwise able to exercise independent judgment;\n(b) Is informed with respect to the subject of the business judgment to the extent the manager reasonably believes to be appropriate under the circumstances; and\n(c) Believes that the business judgment is in the best interests of the unincorporated nonprofit association and in accordance with its purposes.\n5. The governing principles in a record may limit or eliminate the liability of a manager to the unincorporated nonprofit association or its members for damages for any action taken, or for failure to take any action, as a manager, except liability for:\n(a) The amount of financial benefit improperly received by a manager;\n(b) An intentional infliction of harm on the association or one or more of its members;\n(c) An intentional violation of criminal law;\n(d) Breach of the duty of loyalty; or\n(e) Improper distributions.","path":["TITLE 7 — BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES","CHAPTER 81 - MISCELLANEOUS ORGANIZATIONS","UNINCORPORATED NONPROFIT ASSOCIATIONS (UNIFORM ACT)","Members and Managers"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-081.html#NRS081Sec840","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:31Z","sha256":"c7a73cd4f3031c53e9194b248d547798413c7bdf5330a942cd6c186bbbcd7e34","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-81.835","next":"us-nv/nrs-81.845"},"notice":"GroundRules: Original legal text. Not legal advice."}