Nevada Revised Statutes 82.121 – General powers
1. A corporation:
Terms Used In Nevada Revised Statutes 82.121
- Bequest: Property gifted by will.
- 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.
- Devise: To gift property by will.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(a) Has all the rights, privileges and powers hereby conferred.
(b) Has such rights, privileges and powers as may be conferred upon corporations by any existing law.
(c) May at any time exercise those rights, privileges and powers, when not inconsistent with the provisions of this chapter, or with the purposes and objects for which the corporation is organized.
2. Every corporation, by virtue of its existence as such, may:
(a) Have succession by its corporate name for the period limited in its articles of incorporation, and when no period is limited, perpetually, or until it is dissolved and its affairs are wound up according to law.
(b) Sue and be sued in any court of law or equity.
(c) Make contracts.
(d) Hold, purchase and convey real and personal estate and mortgage or lease any such real and personal estate with its franchises. The power to hold real and personal estate includes the power to take it by devise or bequest in this State, or in any other state, territory or country.
(e) Appoint such officers and agents as the affairs of the corporation require, and allow them suitable compensation.
(f) Make bylaws not inconsistent with the Constitution or laws of the United States, or of this State, for the management, regulation and government of its affairs and property, the transfer of its memberships, if any, the transaction of its business, and the calling and holding of meetings of its members, if any, or delegates, if any.
(g) Wind up and dissolve itself, or be wound up or dissolved, in the manner mentioned in this chapter.