86.095 - “Noneconomic member” defined. - Nevada Statutes

86.095  “Noneconomic member” defined.  “Noneconomic member” means a member of a limited-liability company who:

      1.  Does not own a member’s interest in the company;

      2.  Does not have an obligation to contribute capital to the company;

      3.  Does not have a right to participate in or receive distributions of profits of the company or an obligation to contribute to the losses of the company; and

      4.  May have voting rights and other rights and privileges given to noneconomic members of the company by the articles of organization or operating agreement.

      (Added to NRS by 2001, 1384; A 2001, 3199)