Nevada Revised Statutes 81.220 – General powers
Every association formed under NRS 81.170 to 81.270, inclusive, may:
Terms Used In Nevada Revised Statutes 81.220
- Devise: To gift property by will.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Personal property: All property that is not real property.
1. Sue and be sued in any court in its associate name.
2. Make and use a common seal and alter it at pleasure, but the use or nonuse of such a seal does not affect the legality of any record.
3. Receive by gift, devise or purchase, hold and convey, real and personal property as the purposes of the association may require.
4. Appoint such subordinate agents or officers as the business may require.
5. Admit associates or members, and sell or forfeit their interest in the association for default of installments, dues, work or labor required, as provided by the bylaws.
6. Enter into any and all lawful contracts or obligations essential to the transaction of its affairs, for the purpose for which it was formed.
7. Borrow money.
8. Issue all such notes, bills or evidence of indebtedness or mortgage as its bylaws may provide for.
9. Trade, barter, buy, sell and exchange.
10. Do all other things proper to be done for the purpose of carrying into effect the objects for which the association is formed.