Terms Used In Nevada Revised Statutes > Chapter 218E > Legislative Commission > Audit Subcommittee

• 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.
• Majority leader: see Floor Leaders
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Quorum: The number of legislators that must be present to do business.
• Statute: A law passed by a legislature.