Nevada Revised Statutes 396.801 – Formation of nonprofit corporation: Powers of Board of Regents
The Board of Regents, in the name and on the behalf of the System, may:
Terms Used In Nevada Revised Statutes 396.801
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board of Regents: means the Board of Regents of the University of Nevada. See Nevada Revised Statutes 396.005
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- county: includes Carson City. See Nevada Revised Statutes 0.033
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- System: means the Nevada System of Higher Education. See Nevada Revised Statutes 396.005
- University: means all of the universities within the Nevada System of Higher Education. See Nevada Revised Statutes 396.005
1. Cause to be formed a nonprofit corporation pursuant to chapter 82 of NRS for the acquisition of real property for the future development and expansion of the University of Nevada, Las Vegas, in Clark County.
2. Provide the name of the corporation.
3. Specify that it is formed for charitable and educational purposes, subject to the basic object provided therefor in subsection 1.
4. Specify incidental powers which the corporation may exercise, including without limitation:
(a) The power to solicit and receive contributions, gifts, grants, devises and bequests of real and personal property, or any combination thereof;
(b) The powers enumerated in NRS 82.121; and
(c) The power to do all acts and things as may be necessary or convenient or desirable to carry out the objects and purposes for which the corporation is formed.
5. Provide for:
(a) The location and relocation of the principal office of the corporation;
(b) The distribution of its assets, after the liquidation of its obligations, if any, to the System or the Board of Regents, as it may determine, for the benefit of the University of Nevada, Las Vegas, upon any dissolution and liquidation of the corporation;
(c) Its perpetual existence;
(d) Its governing body and appointments and reappointments of members thereto; and
(e) The adoption and alteration from time to time of bylaws by the corporation.