Nevada § 86.331 - Resignation or withdrawal of member: Limitation; payment to member who rightfully resigns or withdraws
Full text of Nevada Nevada Revised Statutes § 86.331 — Resignation or withdrawal of member: Limitation; payment to member who rightfully resigns or withdraws, with citation guidance and answers to common questions.
§ 86.331. Resignation or withdrawal of member: Limitation; payment to member who rightfully resigns or withdraws
1. Except as otherwise provided in chapter 463 of NRS , other applicable law, the articles of organization or the operating agreement, a
member may not resign or withdraw as a member from a limited-liability company before
the dissolution and winding up of the company. 2. If a member has a right to resign or withdraw, the amount that a resigning or withdrawing
member is entitled to receive from the company for his or her interest must be determined
pursuant to the provisions of this chapter, chapter 463 of NRS , the articles of organization or the operating agreement. If not otherwise provided therein, a resigning or withdrawing member is entitled
to receive, within a reasonable time after resignation or withdrawal, the fair market
value of his or her interest on the date of resignation or withdrawal.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 86.331
What does Nevada Revised Statutes § 86.331 cover?
Section 86.331 ("Resignation or withdrawal of member: Limitation; payment to member who rightfully resigns or withdraws") 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 § 86.331?
A common citation format is "Nevada Revised Statutes § 86.331" (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 § 86.331 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.