Reorganization of company by majority in interest of members during receivership.
Nev. Rev. Stat. § 86.5416
in effectWhenever a majority in interest of the members of the limited-liability company have agreed upon a plan for the reorganization of the company and a resumption by it of the management and control of its property and business, the company may, with the consent of the district court:
1. Upon the reconveyance to it of its property and franchises, mortgage the same for such amount as may be necessary for the purposes of reorganization; and
2. Issue bonds or other evidences of indebtedness, or additional members interests of one or more classes, or both bonds and members interests, or certificates of investment or participation certificates, and use the same for the full or partial payment of the creditors who will accept the same, or otherwise dispose of the same for the purposes of the reorganization.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-086.htmlFetched: 10/4/2026