Nev. Rev. Stat. » NRS: CHAPTER 86 - LIMITED-LIABILITY COMPANIES

Nev. Rev. Stat. § 86.311

Acquisition, ownership and disposition of property by company and series

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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)

     

Notes of Decisions
Cited in 3 cases (1 in the last 5 years), 2015–2023 · leading case: Plyam v. Precision Development, LLC (In Re Plyam)
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Razaghi v. Razaghi Development Company, LLC (2023) nvd “22 Under Nevada law, members of a limited liability company (“LLC”) have no direct 23 ownership interest in the LLC’s assets, see NRS 86.311(1), and, as a result they “are not 24 25 4 Defendants further argue that each claim fails independently, as discussed below.”
Plyam v. Precision Development, LLC (In Re Plyam) (2015) bap9 · cites it 2× “And, NRS § 86.311 establishes that “[r]eal and personal property owned or purchased by a company must be held and owned, and conveyance made, in the name of the company.”
In re: Yuri Plyam and Natalia Plyam (2015) bap9 · cites it 2× “And, NRS § 86.311 establishes that “[r]eal and personal 23 property owned or purchased by a company must be held and owned, 24 and conveyance made, in the name of the company.”
— Nev. Rev. Stat. § 86.311(1) — 1 case
Razaghi v. Razaghi Development Company, LLC (2023) nvd “22 Under Nevada law, members of a limited liability company (“LLC”) have no direct 23 ownership interest in the LLC’s assets, see NRS 86.311(1), and, as a result they “are not 24 25 4 Defendants further argue that each claim fails independently, as discussed below.”
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