Nev. Rev. Stat. § 86.483
Authority of member to bring action
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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)
Notes of Decisions
Cited in 3
cases, 2009–2019 · leading case: NAMA Holdings, LLC v. Greenberg Traurig, LLP
Zelman v. Zelman (2019)
“…cause those managers or members to bring the action is not likely to succeed.” Nev. Rev. Stat. Ann. § 86.483 . Michael has failed to establish a factual record that satisfies these criteria. Michael does not provide any facts establishing any refusal to bring this action or…”
Pompei v. Clarkson (2016)
“520 (recognizing a shareholder's right to assert a derivative claim on behalf of a corporation); NRS 86.483, 86.485 (recognizing a member's right to assert a derivative claim on behalf of a limited-liability company); NRS 87A.”
NAMA Holdings, LLC v. Greenberg Traurig, LLP (2009)
“The motion court correctly discerned the plain meaning of the company’s operating agreement and the unambiguous governing Nevada statute (Nev Rev Stat Ann § 86.483), in finding that plaintiff was not prohibited from bringing derivative claims (see Jones v Bill, <a…”
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