Nevada Revised Statutes 81.815 – Duties of member
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1. A member does not have a fiduciary duty to an unincorporated nonprofit association or to another member solely by being a member.
Terms Used In Nevada Revised Statutes 81.815
- Fiduciary: A trustee, executor, or administrator.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
2. A member shall discharge the duties to the unincorporated nonprofit association and the other members and exercise any rights under the provisions of NRS 81.700 to 81.890, inclusive, consistent with the governing principles and the obligation of good faith and fair dealing.