The 77th Nevada Legislature has adopted several amendments to Nevada’s business statutes affecting Nevada corporations and limited liability companies (LLCs). The amendments to Nevada Revised Statutes (NRS) Chapter 78 (corporations) and Chapter 86 (LLCs) include the following:

- Clarification of the phrasing of NRS 78.139 regarding the fiduciary duties of corporate directors and officers with respect to any change or potential change of control, to confirm existing Nevada law which has rejected so-called “Revlon duties” in the change-of-control context.

Please see full update below for more information.

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Topics:  Business Formation, Change of Ownership, Choice of Entity, Directors, Fiduciary Duty, LLC, New Legislation, Officers

Published In: Business Organization Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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