Nev. Rev. Stat. § 86.495

Dissolution by decree of court; termination of series by decree of court

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NRS 86.495 Dissolution by decree of court; termination of series by decree of court.

1. Upon application by or for a member, the district court may decree dissolution of a limited-liability company whenever it is not reasonably practicable to carry on the business of the company in conformity with the articles of organization or operating agreement.

2. Upon application by or for a member of a series, the district court may decree the termination of the series only, and not the dissolution of the company, whenever it is not reasonably practicable to carry on the business of the series in conformity with the articles of organization or operating agreement.

3. If a limited-liability company is required to be dissolved pursuant to NRS 86.491 and articles of dissolution have not been filed within 180 days after the date on which the company is required to be dissolved, upon application by or for the Secretary of State or any person who is adversely affected by the failure of the company to dissolve, the district court may decree dissolution of the company.

(Added to NRS by 2001, 1385; A 2001, 3199; 2005, 2196; 2013, 1280)

Notes of Decisions

Cited in 3 cases (1 in the last 5 years), 2012–2022 · leading case: Montana v. Blixseth (In Re Blixseth)

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Montana v. Blixseth (In Re Blixseth) (2012) bap9 “(d) Upon entry of a decree of judicial dissolution pursuant to 24 NRS 86.495.” N.R.S. 86.491(d). N.R.S. 86.”

Moore v. White (2022) nev · cites it 2× “"3 See NRS 86.495(1) (providing this standard for when a decree of dissolution for a Nevada LLC is appropriate).”

Zelman v. Zelman (2019) mesuperct · cites it 2× “See Nev. Rev. Stat. Ann. § 86.495 (1) (“Upon application by or for a member, the district court may decree dissolution of a limited- liability company .”

— Nev. Rev. Stat. § 86.495(1) — 1 case

Moore v. White (2022) nev “"3 See NRS 86.495(1) (providing this standard for when a decree of dissolution for a Nevada LLC is appropriate).”

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