Nevada § 82.106 - Articles of incorporation: Prohibited names and businesses; approval or certification required before filing of certain articles or amendments

§ 82.106. Articles of incorporation: Prohibited names and businesses; approval or certification required before filing of certain articles or amendments

1. Except as otherwise provided in this subsection, the Secretary of State shall not

accept for filing pursuant to this chapter any articles of incorporation or any certificate

of amendment of articles of incorporation of any corporation formed or existing pursuant

to this chapter if the name of the corporation contains the words “trust,” “engineer,”

“engineered,” “engineering,” “professional engineer” or “licensed engineer.” The provisions of this subsection concerning the use of the word “trust” do not apply

to any corporation formed or existing pursuant to this chapter that is doing business

solely as a community land trust. 2. The Secretary of State shall not accept for filing pursuant to this chapter any

articles of incorporation or any certificate of amendment of articles of incorporation

of any corporation formed or existing pursuant to this chapter if the name of the

corporation contains the words “architect,” “architecture,” “registered architect,”

“licensed architect,” “registered interior designer,” “registered interior design,”

“residential designer,” “registered residential designer,” “licensed residential designer”

or “residential design.” 3. The Secretary of State shall not accept for filing any articles of incorporation

or any certificate of amendment of articles of incorporation of any corporation formed

or existing under this chapter if it appears from the articles or the certificate

of amendment that the business to be carried on by the corporation is subject to supervision

by the Commissioner of Insurance, unless the articles or certificate of amendment

is approved by the Commissioner of Insurance. 4. The Secretary of State shall not accept for filing pursuant to this chapter any

articles of incorporation or any certificate of amendment of articles of incorporation

of any corporation formed or existing pursuant to this chapter if the name of the

corporation contains the word “accountant,” “accounting,” “accountancy,” “auditor”

or “auditing.” 5. The Secretary of State shall not accept for filing any articles of incorporation

or any certificate of amendment of articles of incorporation of any corporation formed

or existing pursuant to the laws of this State which provides that the name of the

corporation contains the words “common-interest community,” “community association,”

“master association,” “unit-owners' association” or “homeowners' association” or if

it appears in the articles of incorporation or certificate of amendment that the purpose

of the corporation is to operate as a unit-owners' association pursuant to chapter 116 or 116B of NRS unless the Administrator of the Real Estate Division of the Department of Business

and Industry certifies that the corporation has: (a) Registered with the Ombudsman for Owners in Common-Interest Communities and Condominium

Hotels pursuant to NRS 116.31158 or 116B.625 ; and (b) Paid to the Administrator of the Real Estate Division the fees required pursuant

to NRS 116.31155 or 116B.620 . 6. As used in this section: (a) “ Community land trust ” means an organization that: (1) Acquires parcels of land that are: (I) Held in perpetuity; and (II) Primarily for conveyance under long-term ground leases; (2) Transfers ownership of any structural improvements located on the leased parcels

to the lessees; (3) When leasing parcels, retains as a condition of the lease a right to purchase

any structural improvements at a price determined by a formula that is designed to

ensure that the improvements remain affordable to low- and moderate-income persons

in perpetuity; and (4) Has its corporate membership open to any adult resident of a particular geographic

area that is specified in the bylaws of the organization. (b) “ Ground lease ” means a lease of land only.