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Nevada Non-Profit Corporation - The Legal Basis and Setup
Non-Profits - An Alternative to Consider
January 12, 2005
By Tom SeFack
Nevada non-profit corporation falls under Nevada
Revised Statutes, Chapter 82, and other chapters,
especially 81 and 84. Chapter 81 defines nonprofit
cooperative corporations, non-profit cooperative corporations
without stock and charitable organizations.
Same advantages that are drawing incorporators of
for profit organizations into Nevada, also apply for
non-profit companies. They too can enjoy better protection
from personal liability for lawful acts of the corporation,
member privacy, and Nevada's tax haven. The same one
person can hold functions of secretary, treasurer,
director and president. Names of owners are not required
for incorporation.
According to Chapter 82, one or more persons can associate to establish
a not-for-profit corporation, by signing and filing articles of
incorporation in the Office of the Secretary of State. The articles
of incorporation must set forth the name of the corporation, the
name of the person designated as the corporation's resident agent,
that the corporation is a nonprofit corporation, the nature of the
business, the names and addresses of the first board of directors
or trustees and of the incorporators signing the articles of incorporation.
No part of the income or profit of such corporation is distributable
to its members, directors or officers, unless otherwise provided.
Upon the filing of the articles of incorporation, and the certificate
of acceptance pursuant to NRS 82, and the payment of the filing
fees, the Secretary of State shall issue to the corporation a certificate
that the articles, containing the required statement of facts, have
been filed in his office. The filing of the articles does not, by
itself, constitute commencement of business by the corporation.
The fee due to the office of SOS for filing articles of incorporation,
amendments to or restatements of articles of incorporation, certificates
pursuant to NRS 82 and records for dissolution is $50 for each record,
if you are filing directly.
Important note to foreign incorporators: no record, which is written
in a language other than English, may be filed or submitted for
filing in the Office of the Secretary of State unless it is accompanied
by a verified translation of that record into the English language.
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