reglab/housing_qa huggingface dataset:
NV Rev Stat § 86.311 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.311 - Acquisition, ownership and disposition of property by company and series.

  1. Except as otherwise provided in subsection 2, real and personal property owned or purchased by a company must be held and owned, and conveyance made, in the name of the company. Except as otherwise provided in the company’s articles of organization or operating agreement, instruments and records providing for the acquisition, mortgage or disposition of property of the company are valid and binding upon the company if signed by:  (a) One or more managers of a company which is managed by a manager or managers;  (b) Any member of a company which is managed by its members;  (c) Any agent, officer, employee or other representative of the company authorized in the operating agreement or in another writing by a manager or managers, if the company is managed by a manager or managers; or  (d) Any agent, officer, employee or other representative of the company authorized in the operating agreement or in another writing by a member, if the company is managed by its members.  2. Real and personal property may be purchased, owned and conveyed by a series separately in the name of the series, as the asset of the series only. Except as otherwise provided in the articles of organization or operating agreement of the series, instruments and records providing for the acquisition, mortgage or disposition of property by a series are valid and binding upon the series if signed by:  (a) One or more managers of the series, if the series is managed by a manager or managers;  (b) Any member associated with the series, if the series is managed by the members associated with the series;  (c) Any agent, officer, employee or other representative of the series authorized in the operating agreement or in another writing by a manager or managers of the series, if the series is managed by a manager or managers; or  (d) Any agent, officer, employee or other representative of the series authorized in the operating agreement or in another writing by a member associated with the series, if the series is managed by its members.  (Added to NRS by 1991, 1300; A 1997, 719; 2003, 3140; 2017 2781)
NV Rev Stat § 86.321 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.321 - Contributions to capital: Form.

The contributions to capital of a member to a limited-liability company or series may be in cash, property or services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services.  (Added to NRS by 1991, 1300; A 1997, 719; 2019, 107)
NV Rev Stat § 86.331 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.331 - Resignation or withdrawal of member: Limitation; payment to member who rightfully resigns or withdraws.

  1. Except as otherwise provided in chapter 463 of NRS, other applicable law, the articles of organization or the operating agreement, a member may not resign or withdraw as a member from a limited-liability company before the dissolution and winding up of the company.  2. If a member has a right to resign or withdraw, the amount that a resigning or withdrawing member is entitled to receive from the company for his or her interest must be determined pursuant to the provisions of this chapter, chapter 463 of NRS, the articles of organization or the operating agreement. If not otherwise provided therein, a resigning or withdrawing member is entitled to receive, within a reasonable time after resignation or withdrawal, the fair market value of his or her interest on the date of resignation or withdrawal.  (Added to NRS by 1991, 1301; A 1993, 2012; 1995, 2111; 1997, 719)
NV Rev Stat § 86.335 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.335 - Resignation or withdrawal of member in violation of operating agreement; loss of right to participate upon resignation or withdrawal.

Except as otherwise provided in this chapter, chapter 463 of NRS, the articles of organization or the operating agreement:  1. If the resignation or withdrawal of a member violates the operating agreement:  (a) The amount payable to the member who has resigned or withdrawn is the fair market value of his or her interest reduced by the amount of all damages sustained by the company or its other members as a result of the violation; and  (b) The company may defer the payment for so long as necessary to prevent unreasonable hardship to the company.  2. Except as otherwise provided in chapter 463 of NRS, the articles of organization or the operating agreement, a member who resigns or withdraws ceases to be a member, has no voting rights and has no right to participate in the management of the company, even if under this section a payment due to the member from the company is deferred.  (Added to NRS by 1997, 714)
NV Rev Stat § 86.341 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.341 - Distribution of profits.

A limited-liability company may, from time to time, divide the profits of its business and distribute them to its members, and any transferee as his or her interest may appear, upon the basis stipulated in the operating agreement. If the operating agreement does not otherwise provide, profits and losses must be allocated proportionately to the value, as shown in the records of the company, of the contributions made by each member and not returned.  (Added to NRS by 1991, 1301; A 1997, 720)
NV Rev Stat § 86.345 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.345 - Distributions: Limitations applicable to restricted limited-liability companies.

  1. If a limited-liability company has elected in its articles of organization to be a restricted limited-liability company pursuant to NRS 86.161, subject to the provisions of NRS 86.343, and unless otherwise provided in the articles of organization, the company shall not make any distributions to its members with respect to their member’s interests until 10 years after:  (a) The date of formation of the restricted limited-liability company as long as the original articles of organization elected to be treated as a restricted limited-liability company and as long as the company has remained a restricted limited-liability company since the date of formation; or  (b) The effective date of the amendment to the articles of organization in which the company elected to be treated as a restricted limited-liability company and as long as the company has remained a restricted limited-liability company since the effective date of the amendment.  2. The provisions of this section apply as the default provisions of a restricted limited-liability company to the extent the provisions of this section are inconsistent with or add to the other provisions of this chapter and to the extent not otherwise modified in the articles of organization of the restricted limited-liability company.  (Added to NRS by 2009, 1691)
NV Rev Stat § 86.346 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.346 - Distributions: Form; status of member or transferee.

  1. Unless otherwise provided in the operating agreement, a member, regardless of the nature of the member’s contributions, or a transferee, regardless of the nature of the contributions of the transferee’s predecessor, has no right to demand or receive any distribution from a limited-liability company in any form other than cash.  2. Except as otherwise provided in NRS 86.391 and 86.521, and unless otherwise provided in the operating agreement, at the time a member or transferee becomes entitled to receive a distribution the member or transferee has the status of and is entitled to all remedies available to a creditor of the company with respect to the distribution.  (Added to NRS by 1995, 2106; A 1997, 720)
NV Rev Stat § 86.351 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.351 - Nature and transfer of member’s interest; rights of transferee; substituted members.

  1. The interest of each member of a limited-liability company is personal property. The articles of organization or operating agreement may prohibit or regulate the transfer of a member’s interest. Unless otherwise provided in the articles or operating agreement, a transferee of a member’s interest has no right to participate in the management of the business and affairs of the company or to become a member unless a majority in interest of the other members approve the transfer. If so approved, the transferee becomes a substituted member. The transferee is only entitled to receive the share of profits or other compensation by way of income, and the return of contributions, to which the transferor would otherwise be entitled.  2. A substituted member has all the rights and powers and is subject to all the restrictions and liabilities of the transferor, except that the substitution of the transferee does not release the transferor from any liability to the company.  (Added to NRS by 1991, 1302; A 1995, 2112; 1997, 720; 2001, 1392, 3199)
NV Rev Stat § 86.361 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.361 - Liability of persons assuming to act as company without authority.

All persons who assume to act as a limited-liability company without authority to do so are jointly and severally liable for all debts and liabilities of the company.  (Added to NRS by 1991, 1304)
NV Rev Stat § 86.371 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.371 - Liability of member or manager for debts or liabilities of company.

Unless otherwise provided in the articles of organization or an agreement signed by the member or manager to be charged, no member or manager of any limited-liability company formed under the laws of this State is individually liable for the debts or liabilities of the company.  (Added to NRS by 1991, 1300; A 1995, 2112)
NV Rev Stat § 86.376 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.376 - Liability of person who acts as alter ego of company for debts or liabilities of company.

  1. Except as otherwise specifically provided by statute or agreement, no person other than the limited-liability company is individually liable for a debt or liability of the limited-liability company unless the person acts as the alter ego of the limited-liability company.  2. A person acts as the alter ego of a limited-liability company only if:  (a) The limited-liability company is influenced and governed by the person;  (b) There is such unity of interest and ownership that the limited-liability company and the person are inseparable from each other; and  (c) Adherence to the notion of the limited-liability company being an entity separate from the person would sanction fraud or promote manifest injustice.  3. The question of whether a person acts as the alter ego of a limited-liability company must be determined by the court as a matter of law.  (Added to NRS by 2019, 104)
NV Rev Stat § 86.381 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.381 - Member of company is not proper party in proceeding by or against company; exception.

A member of a limited-liability company is not a proper party to proceedings by or against the company, except where the object is to enforce the member’s right against or liability to the company.  (Added to NRS by 1991, 1304)
NV Rev Stat § 86.391 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.391 - Liability of member to company.

  1. A member is liable to a limited-liability company:  (a) For a difference between the member’s contributions to capital as actually made and as stated in the articles of organization or operating agreement as having been made; and  (b) For any unpaid contribution to capital which the member agreed in the articles of organization or operating agreement to make in the future at the time and on the conditions stated in the articles of organization or operating agreement.  2. A member holds as trustee for the company specific property stated in the articles of organization or operating agreement as contributed by the member, but which was not so contributed.  3. The liabilities of a member as set out in this section can be waived or compromised only by the consent of all of the members, but a waiver or compromise does not affect the right of a creditor of the company to enforce the liabilities if the creditor extended credit or the creditor’s claim arose before the effective date of an amendment of the articles of organization or operating agreement effecting the waiver or compromise.  (Added to NRS by 1991, 1301; A 1997, 721; 2001, 1393, 3199)
NV Rev Stat § 86.401 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.401 - Rights and remedies of creditor of member.

  1. On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the member’s interest with payment of the unsatisfied amount of the judgment with interest. To the extent so charged, the judgment creditor has only the rights of an assignee of the member’s interest.  2. This section:  (a) Provides the exclusive remedy by which a judgment creditor of a member or an assignee of a member may satisfy a judgment out of the member’s interest of the judgment debtor, whether the limited-liability company has one member or more than one member. No other remedy, including, without limitation, foreclosure on the member’s interest or a court order for directions, accounts and inquiries that the debtor or member might have made, is available to the judgment creditor attempting to satisfy the judgment out of the judgment debtor’s interest in the limited-liability company, and no other remedy may be ordered by a court.  (b) Does not deprive any member of the benefit of any exemption applicable to his or her interest.  (c) Does not supersede any written agreement between a member and a creditor if the written agreement does not conflict with the limited-liability company’s articles of organization or operating agreement.  (Added to NRS by 1991, 1302; A 2001, 1393, 3199; 2003, 20th Special Session, 71; 2011, 2800)
NV Rev Stat § 86.411 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.411 - Indemnification of manager, member, employee or agent: Proceeding other than by company.

A limited-liability company may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, except an action by or in the right of the company, by reason of the fact that the person is or was a manager, member, employee or agent of the company, or is or was serving at the request of the company as a manager, member, employee or agent of another limited-liability company, corporation, partnership, joint venture, trust or other enterprise, against expenses, including attorney’s fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with the action, suit or proceeding if the person acted in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe the conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, does not, of itself, create a presumption that the person did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the limited-liability company, and that, with respect to any criminal action or proceeding, he or she had reasonable cause to believe that the conduct was unlawful.  (Added to NRS by 1991, 1297; A 1997, 721)
NV Rev Stat § 86.421 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.421 - Indemnification of manager, member, employee or agent: Proceeding by company.

A limited-liability company may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the company to procure a judgment in its favor by reason of the fact that the person is or was a manager, member, employee or agent of the company, or is or was serving at the request of the company as a manager, member, employee or agent of another limited-liability company, corporation, partnership, joint venture, trust or other enterprise against expenses, including amounts paid in settlement and attorneys’ fees actually and reasonably incurred by the person in connection with the defense or settlement of the action or suit if the person acted in good faith and in a manner in which he or she reasonably believed to be in or not opposed to the best interests of the company. Indemnification may not be made for any claim, issue or matter as to which such a person has been adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable to the company or for amounts paid in settlement to the company, unless and only to the extent that the court in which the action or suit was brought or other court of competent jurisdiction determines upon application that in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses as the court deems proper.  (Added to NRS by 1991, 1298; A 1997, 722)
NV Rev Stat § 86.431 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.431 - Indemnification of manager, member, employee or agent: Scope; authorization.

  1. To the extent that a manager, member, employee or agent of a limited-liability company has been successful on the merits or otherwise in defense of any action, suit or proceeding described in NRS 86.411 and 86.421, or in defense of any claim, issue or matter therein, the company shall indemnify him or her against expenses, including attorney’s fees, actually and reasonably incurred by him or her in connection with the defense.  2. Any indemnification under NRS 86.411 and 86.421, unless ordered by a court or advanced pursuant to NRS 86.441, may be made by the limited-liability company only as authorized in the specific case upon a determination that indemnification of the manager, member, employee or agent is proper in the circumstances. The determination must be made:  (a) By the members or managers as provided in the articles of organization or the operating agreement;  (b) If there is no provision in the articles of organization or the operating agreement, by a majority in interest of the members who are not parties to the action, suit or proceeding;  (c) If a majority in interest of the members who are not parties to the action, suit or proceeding so order, by independent legal counsel in a written opinion; or  (d) If members who are not parties to the action, suit or proceeding cannot be obtained, by independent legal counsel in a written opinion.  (Added to NRS by 1991, 1298; A 1993, 1017; 1997, 722)
NV Rev Stat § 86.441 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.441 - Indemnification of member or manager: Advancement of expenses.

The articles of organization, the operating agreement or a separate agreement made by a limited-liability company may provide that the expenses of members and managers incurred in defending a civil or criminal action, suit or proceeding must be paid by the company as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on behalf of the manager or member to repay the amount if it is ultimately determined by a court of competent jurisdiction that the member or manager is not entitled to be indemnified by the company. The provisions of this section do not affect any rights to advancement of expenses to which personnel of the company other than managers or members may be entitled under any contract or otherwise by law.  (Added to NRS by 1991, 1299; A 1997, 723)
NV Rev Stat § 86.451 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.451 - Indemnification of manager, member, employee or agent: Effect of provisions on other rights; continuation after cessation of status.

Indemnification or advancement of expenses authorized in or ordered by a court pursuant to NRS 86.411 to 86.441, inclusive:  1. Does not exclude any other rights to which a person seeking indemnification or advancement of expenses may be entitled under the articles of organization or any operating agreement, vote of members or disinterested managers, if any, or otherwise, for an action in the person’s official capacity or an action in another capacity while holding office, except that indemnification, unless ordered by a court pursuant to NRS 86.421 or for the advancement of expenses made pursuant to NRS 86.441, may not be made to or on behalf of any member or manager if a final adjudication establishes that the member’s or the manager’s acts or omissions involved intentional misconduct, fraud or a knowing violation of the law and was material to the cause of action.  2. Continues for a person who has ceased to be a member, manager, employee or agent and inures to the benefit of the heirs, executors and administrators of such a person.  (Added to NRS by 1991, 1299; A 1997, 723)
NV Rev Stat § 86.461 (2021)
2021 Nevada Revised Statutes|Chapter 86 - Limited-Liability Companies|NRS 86.461 - Maintenance of insurance or other financial arrangements against liability of member, manager, employee or agent.

  1. A limited-liability company may purchase and maintain insurance or make other financial arrangements on behalf of any person who is or was a member, manager, employee or agent of the company, or is or was serving at the request of the company as a manager, member, employee or agent of another corporation, limited-liability company, partnership, joint venture, trust or other enterprise for any liability asserted against the person and liability and expenses incurred by the person in his or her capacity as a manager, member, employee or agent, or arising out of his or her status as such, whether or not the company has the authority to indemnify such a person against such liability and expenses.  2. The other financial arrangements made by the company pursuant to subsection 1 may include:  (a) The creation of a trust fund.  (b) The establishment of a program of self-insurance.  (c) The securing of its obligation of indemnification by granting a security interest or other lien on any assets of the company.  (d) The establishment of a letter of credit, guaranty or surety.  No financial arrangement made pursuant to this subsection may provide protection for a person adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable for intentional misconduct, fraud or a knowing violation of law, except with respect to the advancement of expenses or indemnification ordered by a court.  3. Any insurance or other financial arrangement made on behalf of a person pursuant to this section may be provided by the company or any other person approved by the managers, if any, or by the members, if no managers exist, even if all or part of the other person’s member’s interest in the company is owned by the company.  (Added to NRS by 1991, 1299)