Nevada § 86.301 - Limitation on authority to contract debt or incur liability
Full text of Nevada Nevada Revised Statutes § 86.301 — Limitation on authority to contract debt or incur liability, with citation guidance and answers to common questions.
§ 86.301. Limitation on authority to contract debt or incur liability
Except as otherwise provided in this chapter, the articles of organization or the
operating agreement, no debt may be contracted or liability incurred by or on behalf
of a limited-liability company or any series thereof except by: 1. One or more managers of a company or series which is managed by a manager or managers; 2. Any member of a company or series which is managed by its members; 3. Any agent, officer, employee or other representative of the company or series,
as authorized in the operating agreement or in another writing by a manager or managers,
if the company or series is managed by a manager or managers; or 4. Any agent, officer, employee or other representative of the company or series authorized
in the operating agreement or in another writing by a member thereof, if the company
or series is managed by its members.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 86.301
What does Nevada Revised Statutes § 86.301 cover?
Section 86.301 ("Limitation on authority to contract debt or incur liability") 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 § 86.301?
A common citation format is "Nevada Revised Statutes § 86.301" (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 § 86.301 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.