Nevada § 78B.050 - “Minimum status vote” defined
Full text of Nevada Nevada Revised Statutes § 78B.050 — “Minimum status vote” defined, with citation guidance and answers to common questions.
§ 78B.050. “Minimum status vote” defined
“ Minimum status vote ” means: 1. In the case of a corporation, in addition to any other approval or vote required
by chapter 78 or 78A of NRS, NRS 81.010 to 81.160 , inclusive, or chapter 89 of NRS, whichever is applicable, by chapter 92A of NRS
or by the articles of incorporation, satisfaction of both of the following conditions: (a) The shareholders of every class or series are entitled to vote on the corporate
action regardless of any limitation on the voting rights of any class or series stated
in the articles of incorporation or bylaws. (b) The corporate action must be approved by the outstanding shares of each class
or series by at least two-thirds of the votes, or the greater vote if required by
the articles of incorporation, that all shareholders of the class or series are entitled
to cast on that action. 2. In the case of a business entity organized and existing under the laws of this
State other than a corporation, in addition to any other approval, vote or consent
required by the laws of this State that govern the internal affairs of the entity,
by any provision of the publicly filed record or document required to form the entity,
or by any agreement binding some or all of the holders of the equity interests in
the entity, satisfaction of both of the following conditions: (a) The holders of every class or series of interest in the entity that are entitled
to receive a distribution of any kind from the entity or partnership are entitled
to vote on or consent to the action regardless of any otherwise applicable limitation
on the voting or consent rights of any class or series. (b) The action must be approved by the vote or consent of the holders described in
paragraph (a) by at least two-thirds of the votes or consent of those holders, or
the greater vote or consent if required by the publicly filed record or document required
to form the entity or partnership or by any agreement binding those holders.
Frequently Asked Questions About Nevada § 78B.050
What does Nevada Revised Statutes § 78B.050 cover?
Section 78B.050 ("“Minimum status vote” defined") 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 § 78B.050?
A common citation format is "Nevada Revised Statutes § 78B.050" (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 § 78B.050 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.