Nev. Rev. Stat. § 92A.370

Rights of dissenting member of domestic nonprofit corporation

Find cases: SyfertCases citing this section NRSleg.state.nv.us (official) Justiaon Justia CornellLII Search CasesGoogle Scholar
NRS 92A.370  Rights of dissenting member of domestic nonprofit corporation.

      1.  Except as otherwise provided in subsection 2, and unless otherwise provided in the articles or bylaws, any member of any constituent domestic nonprofit corporation who voted against the merger may, without prior notice, but within 30 days after the effective date of the merger, resign from membership and is thereby excused from all contractual obligations to the constituent or surviving corporations which did not occur before the member’s resignation and is thereby entitled to those rights, if any, which would have existed if there had been no merger and the membership had been terminated or the member had been expelled.

      2.  Unless otherwise provided in its articles of incorporation or bylaws, no member of a domestic nonprofit corporation, including, but not limited to, a cooperative corporation, which supplies services described in chapter 704 of NRS to its members only, and no person who is a member of a domestic nonprofit corporation as a condition of or by reason of the ownership of an interest in real property, may resign and dissent pursuant to subsection 1.

      (Added to NRS by 1995, 2088)

     

Notes of Decisions
Cited in 2 cases, 2003–2018 · leading case: Cohen v. Mirage Resorts, Inc.
Peddie v. Spot Devices, Inc. (2018) nev “Except as otherwise provided in NRS 92A.370 and 92A.”
Cohen v. Mirage Resorts, Inc. (2003) nev · cites it 2× “Except as otherwise provided in NRS 92A.370 and 92A.390, a stockholder is entitled to dissent from, and obtain payment of the fair value of his shares in the event of any of the following corporate actions: (a) Consummation of a plan of merger to which the domestic corporation…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.