Nev. Rev. Stat. § 78B.120
This is the official text of Nev. Rev. Stat. § 78B.120, part of Nevada’s Rev. Stat — part of the compiled statutory law of Nevada, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Termination of status as benefit corporation; procedure for disposition of all or substantially all of property of benefit corporation
Official statutory text
1. A benefit corporation may terminate its status as a benefit corporation and cease to be subject to this chapter by amending its articles of incorporation to delete the statement in the articles of incorporation that the corporation is a benefit corporation as required by NRS 78B.100 or 78B.110 . To be effective, the amendment must be adopted by at least the minimum status vote.
2. If a benefit corporation is a constituent entity in a merger, conversion or exchange and the effect of the merger, conversion or exchange will terminate the status of the benefit corporation as a benefit corporation, the plan of merger, conversion or exchange, whichever is applicable, is not effective unless it is approved by at least the minimum status vote.
3. If not made in the usual and regular course of business, a sale, lease, exchange or other disposition of all or substantially all of the property of a benefit corporation is not effective unless it is approved by at least the minimum status vote.
4. As used in this section: (a) “ Constituent entity ” has the meaning ascribed to it in NRS 92A.015 . (b) “ Exchange ” has the meaning ascribed to it in NRS 92A.050 .
2. If a benefit corporation is a constituent entity in a merger, conversion or exchange and the effect of the merger, conversion or exchange will terminate the status of the benefit corporation as a benefit corporation, the plan of merger, conversion or exchange, whichever is applicable, is not effective unless it is approved by at least the minimum status vote.
3. If not made in the usual and regular course of business, a sale, lease, exchange or other disposition of all or substantially all of the property of a benefit corporation is not effective unless it is approved by at least the minimum status vote.
4. As used in this section: (a) “ Constituent entity ” has the meaning ascribed to it in NRS 92A.015 . (b) “ Exchange ” has the meaning ascribed to it in NRS 92A.050 .
Status: in_force · Read it on the official government site
Need a lawyer in Nevada?
Find a Nevada lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.