reglab/housing_qa huggingface dataset:
NV Rev Stat § 86.471 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.471 - Effect of providing insurance or other financial arrangements against liability of member, manager, employee or agent.

In the absence of fraud:  1. The decision of a limited-liability company as to the propriety of the terms and conditions of any insurance or other financial arrangement made pursuant to NRS 86.461 and the choice of the person to provide the insurance or other financial arrangement is conclusive; and  2. The insurance or other financial arrangement:  (a) Is not void or voidable; and  (b) Does not subject any manager or member approving it to personal liability for the approval,  even if a manager or member approving the insurance or other financial arrangement is a beneficiary of the insurance or other financial arrangement.  (Added to NRS by 1991, 1300)
NV Rev Stat § 86.481 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.481 - Exclusion of company which provides self-insurance from title 57 of NRS.

A limited-liability company or its subsidiary which provides self-insurance for itself or for an affiliated limited-liability company pursuant to NRS 86.461 is not subject to the provisions of title 57 of NRS.  (Added to NRS by 1991, 1300)
NV Rev Stat § 86.483 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.483 - Authority of member to bring action.

A member, including a noneconomic member unless otherwise prohibited by the terms of the articles of organization or operating agreement, may bring an action in the right of a limited-liability company to recover a judgment in its favor if managers or members with authority to do so have refused to bring the action or if an effort to cause those managers or members to bring the action is not likely to succeed.  (Added to NRS by 2001, 1385; A 2001, 3199; 2003, 3141; 2007, 2425)
NV Rev Stat § 86.485 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.485 - Qualifications of plaintiff.

In a derivative action, the plaintiff must be a member at the time of the transaction of which the plaintiff complains.  (Added to NRS by 2001, 1386; A 2001, 3199; 2003, 3141)
NV Rev Stat § 86.487 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.487 - Pleading.

In a derivative action, the complaint must set forth with particularity:  1. The effort of the plaintiff to secure initiation of the action by a manager or member; or  2. The reasons for the plaintiff not making the effort to secure initiation of the action by a manager or member.  (Added to NRS by 2001, 1386; A 2001, 3199)
NV Rev Stat § 86.489 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.489 - Expenses.

If a derivative action is successful, in whole or in part, or if anything is received by the plaintiff as a result of a judgment, compromise or settlement of an action or claim, the court may award the plaintiff reasonable expenses, including reasonable attorney’s fees, and shall direct the plaintiff to remit to the limited-liability company the remainder of those proceeds received by the plaintiff.  (Added to NRS by 2001, 1386; A 2001, 3199)
NV Rev Stat § 86.4895 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.4895 - Dissolution of company whose charter has been revoked without additional fees and penalties; regulations.

  1. The Secretary of State shall authorize a limited-liability company whose charter has been revoked to dissolve without paying additional fees and penalties, other than the fee for filing articles of dissolution required by NRS 86.561, if the limited-liability company provides evidence satisfactory to the Secretary of State that the limited-liability company did not transact business in this State or as a limited-liability company organized pursuant to the laws of this State:  (a) During the entire period for which its charter was revoked; or  (b) During a portion of the period for which its charter was revoked and the limited-liability company paid the fees and penalties for the portion of that period in which the limited-liability company transacted business in this State or as a limited-liability company organized pursuant to the laws of this State.  2. The Secretary of State may adopt regulations to administer the provisions of this section.  (Added to NRS by 2015, 1288)
NV Rev Stat § 86.490 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.490 - Dissolution before commencement of business; limitations.

  1. Before the commencement of business by any limited-liability company where management is vested in one or more managers and where no member’s interest in the limited-liability company has been issued, at least two-thirds of the organizers or the managers of the limited-liability company may dissolve the limited-liability company by filing with the Secretary of State a certificate of dissolution to dissolve the limited-liability company.  2. A certificate of dissolution filed with the Secretary of State pursuant to subsection 1 must state that:  (a) The management of the limited-liability company is vested in one or more managers;  (b) The limited-liability company has not commenced business; and  (c) No member’s interest in the limited-liability company has been issued.  (Added to NRS by 2007, 2424)
NV Rev Stat § 86.495 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.495 - Dissolution by decree of court; termination of series by decree of court.

  1. Upon application by or for a member, the district court may decree dissolution of a limited-liability company whenever it is not reasonably practicable to carry on the business of the company in conformity with the articles of organization or operating agreement.  2. Upon application by or for a member of a series, the district court may decree the termination of the series only, and not the dissolution of the company, whenever it is not reasonably practicable to carry on the business of the series in conformity with the articles of organization or operating agreement.  3. If a limited-liability company is required to be dissolved pursuant to NRS 86.491 and articles of dissolution have not been filed within 180 days after the date on which the company is required to be dissolved, upon application by or for the Secretary of State or any person who is adversely affected by the failure of the company to dissolve, the district court may decree dissolution of the company.  (Added to NRS by 2001, 1385; A 2001, 3199; 2005, 2196; 2013, 1280)
NV Rev Stat § 86.505 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.505 - Continuation of company after dissolution for winding up of affairs; limitation on actions by or against dissolved company or its managers or members.

  1. The dissolution of a limited-liability company does not impair any remedy or cause of action available to or against it or its managers or members commenced, within 2 years after the effective date of the articles of dissolution, with respect to any remedy or cause of action as to which the plaintiff learns, or in the exercise of reasonable diligence should have learned of, the underlying facts on or before the date of dissolution, or within 3 years after the date of dissolution with respect to any other remedy or cause of action. Any such remedy or cause of action not commenced within the applicable period is barred. A dissolved company continues as a company for the purpose of prosecuting and defending suits, actions, proceedings and claims of any kind or nature by or against it and of enabling it gradually to settle and close its business, to collect and discharge its obligations, to dispose of and convey its property, and to distribute its assets, but not for the purpose of continuing the business for which it was established.  2. Nothing in this section shall be so construed as to lengthen any shorter statute of limitations otherwise applicable provided that no provision of this chapter or other specific statute has the effect of applying any statute of limitations that is longer than provided in this section with respect to any such remedy or cause of action. Nothing in this section shall be construed to create any remedy or cause of action available to or against the company or its managers or members.  (Added to NRS by 1995, 2106; A 1997, 724; 2013, 1281)
NV Rev Stat § 86.521 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.521 - Distribution of assets after dissolution.

  1. In settling accounts after dissolution, the liabilities of a limited-liability company are entitled to payment in the following order:  (a) Those to creditors, including members who are creditors, in the order of priority as provided and to the extent otherwise permitted by law, except those to members of the limited-liability company on account of their contributions;  (b) Those to members of the limited-liability company in respect of their share of the profits and other compensation by way of income on their contributions; and  (c) Those to members of the limited-liability company in respect of their contributions to capital.  2. Subject to any statement in the operating agreement, members share in the company’s assets in respect to their claims for capital and in respect to their claims for profits or for compensation by way of income on their contributions, respectively, in proportion to the respective amounts of the claims.  (Added to NRS by 1991, 1303; A 1995, 2113)
NV Rev Stat § 86.531 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.531 - Articles of dissolution: Required provisions.

  1. Except in the case of a dissolution pursuant to NRS 86.490, as soon as practicable after the dissolution of a limited-liability company, articles of dissolution must be prepared and signed setting forth:  (a) The name of the limited-liability company;  (b) That the company has been dissolved; and  (c) The effective date and time of the dissolution, which may not be later than the effective date and time of the articles of dissolution.  2. The articles of dissolution must be signed by:  (a) A manager of the company, if management of the company is vested in a manager;  (b) A member of the company, if management of the company is not vested in a manager; or  (c) The personal representative of the last remaining member, if there is no remaining manager or member, unless otherwise provided in the articles of organization or operating agreement.  (Added to NRS by 1991, 1303; A 1995, 2113; 1999, 1616; 2013, 1281; 2019, 107)
NV Rev Stat § 86.541 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.541 - Filing and effectiveness of articles of dissolution; powers of trustees of dissolved company.

  1. The signed articles of dissolution must be filed with the Secretary of State. Articles of dissolution are effective at the time of the filing of the articles with the Secretary of State or upon a later date and time as specified in the articles, which date must not be more than 90 days after the date on which the articles are filed. If the articles filed pursuant to this section specify a later effective date but do not specify an effective time, the articles are effective at 12:01 a.m. in the Pacific time zone on the specified later date.  2. The manager or managers in office at the time of dissolution, or the members, if there are no managers, or the personal representatives, are thereafter trustees of the dissolved company, with full power to prosecute and defend suits, actions, proceedings and claims of any kind or character by or against the company, to enable the company gradually to settle and close its business, to collect its assets, to collect and discharge its obligations, to dispose of and convey its property, to distribute its money and other property among the members, after paying or adequately providing for the payment of its liabilities and obligations, and to do every other act to wind up and liquidate its business and affairs, but not for the purpose of continuing the business for which the company was established.  (Added to NRS by 1991, 1303; A 1995, 2113; 1999, 1616; 2001, 1394, 3199; 2005, 2197; 2011, 2801; 2013, 1282)
NV Rev Stat § 86.5411 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.5411 - Application of creditors or members of insolvent company for injunction and appointment of receiver or trustee; hearing.

  1. Whenever any limited-liability company becomes insolvent or suspends its ordinary business for want of money to carry on the business, or if its business has been and is being conducted at a great loss and greatly prejudicial to the interest of its creditors or members, any creditors holding 10 percent of the outstanding indebtedness, or members owning either 10 percent of the outstanding member’s interests or 10 percent of the voting power of the company, may, by petition setting forth the facts and circumstances of the case, apply to the district court of the county in which the principal office of the company is located or, if the principal office is not located in this State, to the district court in the county in which the company’s registered office is located for a writ of injunction and the appointment of a receiver or receivers or trustee or trustees.  2. The court, being satisfied by affidavit or otherwise of the sufficiency of the application and of the truth of the allegations contained in the petition and upon hearing after such notice as the court by order may direct, shall proceed in a summary way to hear the affidavits, proofs and allegations which may be offered in behalf of the parties.  3. If, upon such inquiry it appears to the court that the company has become insolvent and is not about to resume its business in a short time thereafter, or that its business has been and is being conducted at a great loss and greatly prejudicial to the interests of its creditors or members so that its business cannot be conducted with safety to the public, it may issue an injunction to restrain the company and its managers, managing members, officers and agents from exercising any of its privileges or franchises and from collecting or receiving any debts or paying out, selling, assigning or transferring any of its estate, money, lands, tenements or effects, except to a receiver appointed by the court, until the court otherwise orders.  4. The rights of a member set forth in this section may be exercised by a noneconomic member if specifically set forth in the articles of organization or the operating agreement.  (Added to NRS by 2019, 2491)
NV Rev Stat § 86.5412 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.5412 - Appointment of receiver or trustee of insolvent company: Powers.

  1. The district court, at the time of ordering the injunction, or at any time afterwards, may appoint a receiver or receivers or a trustee or trustees for the creditors and members of the limited-liability company.  2. Receivers or trustees shall have full power and authority:  (a) To demand, sue for, collect, receive and take into possession all the goods and chattels, rights and credits, moneys and effects, lands and tenements, books, papers, choses in action, bills, notes and property, of every description of the company;  (b) To institute suits at law or in equity for the recovery of any estate, property, damages or demands existing in favor of the company;  (c) In their discretion to compound and settle with any debtor or creditor of the company, or with persons having possession of its property or in any way responsible at law or in equity to the company at the time of its insolvency or suspension of business, or afterwards, upon such terms and in such manner as they shall deem just and beneficial to the company; and  (d) In case of mutual dealings between the company and any person to allow just setoffs in favor of such person in all cases in which the same ought to be allowed according to law and equity.  3. A debtor who shall have in good faith paid a debt to the company without notice of its insolvency or suspension of business, shall not be liable therefor, and the receiver or receivers or trustee or trustees shall have power to sell, convey and assign all the estate, rights and interests, and shall hold and dispose of the proceeds thereof under the directions of the district court.  (Added to NRS by 2019, 2491)
NV Rev Stat § 86.5413 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.5413 - Property and privileges of insolvent company vest in appointed receiver.

All real and personal property of an insolvent limited-liability company, wheresoever situated, and all its franchises, rights, privileges and effects shall, upon the appointment of a receiver, forthwith vest in the receiver, and the company shall be divested of the title thereto.  (Added to NRS by 2019, 2492)
NV Rev Stat § 86.5414 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.5414 - Company may resume control upon payment of debts and receipt of capital to conduct business; order of court dissolving company and forfeiting charter.

  1. Whenever a receiver shall have been appointed pursuant to NRS 86.5412 and it shall afterwards appear that the debts of the limited-liability company have been paid or provided for, and that there remains or can be obtained by further contributions sufficient capital to enable it to resume its business, the district court may, in its discretion, a proper case being shown, direct the receiver to reconvey to the company all its property, franchises, rights and effects, and thereafter the company may resume control of and enjoy the same as fully as if the receiver had never been appointed.  2. In every case in which the district court shall not direct such reconveyance, the court may, in its discretion, make a decree dissolving the company and declaring its charter forfeited and void.  (Added to NRS by 2019, 2492)
NV Rev Stat § 86.5416 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.5416 - Reorganization of company by majority of members during receivership.

Whenever members holding member’s interests entitling them to exercise at least a majority of the voting power of the limited-liability company shall have agreed upon a plan for the reorganization of the company and a resumption by it of the management and control of its property and business, the company may, with the consent of the district court:  1. Upon the reconveyance to it of its property and franchises, mortgage the same for such amount as may be necessary for the purposes of reorganization; and  2. Issue bonds or other evidences of indebtedness, or additional member’s interests of one or more classes, or both bonds and member’s interests, or certificates of investment or participation certificates, and use the same for the full or partial payment of the creditors who will accept the same, or otherwise dispose of the same for the purposes of the reorganization.  (Added to NRS by 2019, 2493)
NV Rev Stat § 86.5417 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.5417 - Powers of district court.

  1. The court shall have power to send for persons and papers and to examine any persons, including the creditors and claimants, and the managers, managing members, officers and agents of the limited-liability company, on oath or affirmation, respecting its affairs and transactions and its estate, money, goods, chattels, credits, notes, bills and choses in action, real and personal estate and effects of every kind, and also respecting its debts, obligations, contracts and liabilities, and the claims against it.  2. If any person shall refuse to be sworn or affirmed, or to make answers to such questions as shall be put to the person, or refuse to declare the whole truth touching the subject matter of the examination, the district court may commit such person to a place of confinement, there to remain until the person shall submit to be examined and pay all the costs of the proceedings against the person.  (Added to NRS by 2019, 2493)
NV Rev Stat § 86.5418 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.5418 - Receiver to take possession of company assets upon court order.

The receiver, upon order of the court, with the assistance of a peace officer, may break open, in the daytime, the houses, shops, warehouses, doors, trunks, chests or other places of the limited-liability company where any of its goods, chattels, choses in action, notes, bills, moneys, books, papers or other writings or effects have been usually kept, or shall be, and take possession of the same and of the lands and tenements belonging to the company.  (Added to NRS by 2019, 2494)
NV Rev Stat § 86.5419 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.5419 - Inventory, lists of debts and reports by receiver.

The receiver, as soon as convenient, shall lay before the district court a full and complete inventory of all the estate, property and effects of the limited-liability company, its nature and probable value, and an account of all debts due from and to it, as nearly as the same can be ascertained, and make a report to the court of his or her proceedings at least every 3 months thereafter during the continuance of the trust, and whenever the receiver shall be so ordered.  (Added to NRS by 2019, 2494)
NV Rev Stat § 86.542 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.542 - Creditors’ proofs of claims; when participation barred; notice.

All creditors shall present and make proof to the receiver of their respective claims against the limited-liability company within 6 months from the date of appointment of the receiver or trustee for the company, or sooner if the court shall order and direct, and all creditors and claimants failing to do so within the time limited by this section, or the time prescribed by the order of the court, shall by the direction of the court be barred from participating in the distribution of the assets of the company. The court shall also prescribe what notice, by publication or otherwise, shall be given to creditors of such limitation of time.  (Added to NRS by 2019, 2494)
NV Rev Stat § 86.5421 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.5421 - Creditors’ claims to be in writing under oath; examination of claimants.

Every claim against any limited-liability company for which a receiver has been appointed shall be presented to the receiver in writing and upon oath. The claimant, if required, shall submit to such examination in relation to the claim as the court shall direct, and shall produce such books and papers relating to the claim as shall be required. The court shall have power to authorize the receiver to examine, under oath or affirmation, all witnesses produced before the receiver touching the claim or any part thereof.  (Added to NRS by 2019, 2494)