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NRS 86.301 - Limitation on authority to contract debt or incur liability.

NV Rev Stat § 86.301 (2019) (N/A)
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Except as otherwise provided in this chapter, the articles of organization or the operating agreement, no debt may be contracted or liability incurred by or on behalf of a limited-liability company or any series thereof except by:

1. One or more managers of a company or series which is managed by a manager or managers;

2. Any member of a company or series which is managed by its members;

3. Any agent, officer, employee or other representative of the company or series, as authorized in the operating agreement or in another writing by a manager or managers, if the company or series is managed by a manager or managers; or

4. Any agent, officer, employee or other representative of the company or series authorized in the operating agreement or in another writing by a member thereof, if the company or series is managed by its members.

(Added to NRS by 1991, 1300; A 1997, 719; 1999, 1615; 2001, 1391, 3199; 2003, 3140; 2019, 106)

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NRS 86.298 - Duties of manager or managing member.
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