Nevada § 86.471 - Effect of providing insurance or other financial arrangements against liability of member, manager, employee or agent
Full text of Nevada Nevada Revised Statutes § 86.471 — Effect of providing insurance or other financial arrangements against liability of member, manager, employee or agent, with citation guidance and answers to common questions.
§ 86.471. Effect of providing insurance or other financial arrangements against liability of member, manager, employee or agent
In the absence of fraud: 1. The decision of a limited-liability company as to the propriety of the terms and
conditions of any insurance or other financial arrangement made pursuant to NRS 86.461 and the choice of the person to provide the insurance or other financial arrangement
is conclusive; and 2. The insurance or other financial arrangement: (a) Is not void or voidable; and (b) Does not subject any manager or member approving it to personal liability for
the approval, even if a manager or member approving the insurance or other financial arrangement
is a beneficiary of the insurance or other financial arrangement.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 86.471
What does Nevada Revised Statutes § 86.471 cover?
Section 86.471 ("Effect of providing insurance or other financial arrangements against liability of member, manager, employee or agent") 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 § 86.471?
A common citation format is "Nevada Revised Statutes § 86.471" (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 § 86.471 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.