Nevada § 81.870 - Winding up and termination
Full text of Nevada Nevada Revised Statutes § 81.870 — Winding up and termination, with citation guidance and answers to common questions.
§ 81.870. Winding up and termination
Winding up and termination of an unincorporated nonprofit association must proceed
in accordance with the following rules: 1. All known debts and liabilities must be paid or adequately provided for. 2. Any property subject to a condition requiring return to the person designated by
the donor must be transferred to that person. 3. Any property subject to a trust must be distributed in accordance with the trust
agreement. 4. Any remaining property must be distributed as follows: (a) As required by law other than NRS 81.700 to 81.890 , inclusive, that requires assets of an association to be distributed to another person
with similar nonprofit purposes; (b) In accordance with the association's governing principles or, in the absence of
applicable governing principles, to the members of the association per capita or as
the members direct; or (c) If neither paragraph (a) nor (b) applies, pursuant to chapter 120A of NRS .
Frequently Asked Questions About Nevada § 81.870
What does Nevada Revised Statutes § 81.870 cover?
Section 81.870 ("Winding up and termination") 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 § 81.870?
A common citation format is "Nevada Revised Statutes § 81.870" (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 § 81.870 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.