Nevada Revised Statutes 86.095 – ‘Noneconomic member’ defined
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1. ’Noneconomic member’ means a member of a limited-liability company who:
Terms Used In Nevada Revised Statutes 86.095
- 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.
(a) Does not own a member’s interest in the company;
(b) Does not have an obligation to contribute capital to the company;
(c) Does not have a right to participate in or receive distributions from the company or an obligation to contribute to the losses of the company; and
(d) May have voting rights and other rights and privileges given to noneconomic members of the company by the articles of organization or operating agreement.
2. As used in this section, ‘distribution’ has the meaning ascribed to it in NRS 86.279.