2011 Nevada Revised Statutes
Chapter 89 - Professional Entities and Associations
NRS 89.020 - Definitions.

As used in this chapter, unless the context requires otherwise:

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.

(Added to NRS by 1963, 865; A 1969, 519; 1995, 2117; 2003, 3159; 2007, 2432; 2011, 2811)