Nevada § 78A.140 - Appointment of custodian, receiver or provisional director
Full text of Nevada Nevada Revised Statutes § 78A.140 — Appointment of custodian, receiver or provisional director, with citation guidance and answers to common questions.
§ 78A.140. Appointment of custodian, receiver or provisional director
1. Upon application of a stockholder, the court may appoint one or more persons to
be custodians and, if the corporation is insolvent, to be receivers of any close corporation
when: (a) The business and affairs of the close corporation are managed by the stockholders
who are so divided that the business of the corporation is suffering or is threatened
with irreparable injury and any remedy with respect to such a deadlock provided in
the articles of incorporation or bylaws or in any written agreement of the stockholders
has failed; or (b) The petitioning stockholder has the right to the dissolution of the corporation
under a provision of the articles of incorporation permitted by NRS 78A.160 . 2. If the court determines that it would be in the best interest of the corporation,
the court may appoint a provisional director in lieu of appointing a custodian or
receiver for a close corporation. Such an appointment does not preclude any subsequent order of the court appointing
a custodian or receiver for the corporation.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 78A.140
What does Nevada Revised Statutes § 78A.140 cover?
Section 78A.140 ("Appointment of custodian, receiver or provisional director") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 78A.140?
A common citation format is "Nevada Revised Statutes § 78A.140" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 78A.140 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.