‘Library foundation’ means a nonprofit corporation, association or institution or a charitable organization that is:

Terms Used In Nevada Revised Statutes 379.0056

  • 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.

1.  Organized and operated primarily for the support of a public library;

2.  Formed pursuant to the laws of this State; and

3.  Exempt from taxation pursuant to 26 U.S.C. § 501(c)(3).