Nevada Revised Statutes 89.020 – Definitions
As used in this chapter, unless the context requires otherwise:
Terms Used In Nevada Revised Statutes 89.020
- Articles: means either the articles of incorporation of a professional corporation or the articles of organization of a professional limited-liability company. See Nevada Revised Statutes 89.020
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- 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.
- Licensed: means legally authorized by the appropriate regulating board of this State to engage in a regulated profession in this State. See Nevada Revised Statutes 89.020
- Owner: means the owner of stock in a professional corporation or the owner of a member"s interest, as defined in NRS 86. See Nevada Revised Statutes 89.020
- 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
- Professional association: means a common-law association of two or more persons licensed or otherwise legally authorized to render professional service within this State when created by written articles of association which contain in substance the following provisions characteristic of corporate entities:
(a) The death, insanity, bankruptcy, retirement, resignation, expulsion or withdrawal of any member of the association does not cause its dissolution. See Nevada Revised Statutes 89.020
- Professional corporation: means a corporation organized under this chapter to render a professional service. See Nevada Revised Statutes 89.020
- Professional entity: means either a professional corporation or a professional limited-liability company. See Nevada Revised Statutes 89.020
- Professional limited-liability company: means a limited-liability company organized pursuant to this chapter to render professional service. See Nevada Revised Statutes 89.020
- Professional service: means any type of personal service which may legally be performed only pursuant to a license, certificate of registration or other legal authorization. See Nevada Revised Statutes 89.020
- Regulating board: means the body which regulates and authorizes the admission to the profession which a professional entity or a professional association is authorized to perform. See Nevada Revised Statutes 89.020
1. ’Articles’ means either the articles of incorporation of a professional corporation or the articles of organization of a professional limited-liability company.
2. ’Employee’ means a person licensed or otherwise legally authorized to render professional service within this State who renders such service through a professional entity or a professional association, but does not include clerks, bookkeepers, technicians or other persons who are not usually considered by custom and practice of the profession to be rendering professional services to the public.
3. ’Licensed’ means legally authorized by the appropriate regulating board of this State to engage in a regulated profession in this State.
4. ’Owner’ means the owner of stock in a professional corporation or the owner of a member’s interest, as defined in NRS 86.091, in a professional limited-liability company.
5. ’Owner’s interest’ means the stock of a professional corporation or a member’s interest, as defined in NRS 86.091, of a professional limited-liability company.
6. ’Professional association’ means a common-law association of two or more persons licensed or otherwise legally authorized to render professional service within this State when created by written articles of association which contain in substance the following provisions characteristic of corporate entities:
(a) The death, insanity, bankruptcy, retirement, resignation, expulsion or withdrawal of any member of the association does not cause its dissolution.
(b) The authority to manage the affairs of the association is vested in a board of directors or an executive board or committee, elected by the members of the association.
(c) The members of the association are employees of the association.
(d) Members’ ownership is evidenced by certificates.
7. ’Professional corporation’ means a corporation organized under this chapter to render a professional service.
8. ’Professional entity’ means either a professional corporation or a professional limited-liability company.
9. ’Professional limited-liability company’ means a limited-liability company organized pursuant to this chapter to render professional service.
10. ’Professional service’ means any type of personal service which may legally be performed only pursuant to a license, certificate of registration or other legal authorization.
11. ’Regulating board’ means the body which regulates and authorizes the admission to the profession which a professional entity or a professional association is authorized to perform.