Nev. Rev. Stat. § 81.855
This is the official text of Nev. Rev. Stat. § 81.855, 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.
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Distributions prohibited; compensation and other permitted payments
Official statutory text
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 .
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 .
Status: in_force · Read it on the official government site
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