Such a nonprofit corporation, upon its formation, is:
1. A corporate agency of the System and the Board of Regents;
2. A body corporate and politic; and
3. A political subdivision of this state.
NRS 396.7994
Status of nonprofit corporation on formation
Known as the University Securities Law
The act spans §§ 396–396 (367 sections).
Applied in 2 court decisions — leading case Simonian v. Univ. & Cmty. Coll. Sys. (2006)
Most recently applied in Simonian v. Univ. & Cmty. Coll. Sys. (February 2006)
(Added to NRS by 1968, 3; A 1969, 1448; 1993, 357)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.