Nevada Revised Statutes 520.010 – Institution of action
When three or more persons, owning or claiming as joint tenants, tenants in common or coparceners a majority of the number of feet, shares or interests in any mining claim in this State, shall have formed, or shall hereafter form themselves into a corporation or organized association for the purpose of working and developing such mining claim, and shall actually proceed to work and develop the same, such corporation or association may, without demand, except by commencement of an action, institute in any court of competent jurisdiction suit in its corporate or associate name, as upon an implied contract for the payment of money, against any person not a stockholder in or a member of such corporation or association, owning or claiming to own in such mining claim as joint tenant, tenant in common or coparcener, for his or her proportion of the money actually expended, or indebtedness assumed, by such corporation or association in the actual and necessary working and development of such mining claim.
Terms Used In Nevada Revised Statutes 520.010
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039