Nevada § 86.521 - Distribution of assets after dissolution
Full text of Nevada Nevada Revised Statutes § 86.521 — Distribution of assets after dissolution, with citation guidance and answers to common questions.
§ 86.521. Distribution of assets after dissolution
1. In settling accounts after dissolution, the liabilities of a limited-liability
company are entitled to payment in the following order: (a) Those to creditors, including members who are creditors, in the order of priority
as provided and to the extent otherwise permitted by law, except those to members
of the limited-liability company on account of their contributions; (b) Those to members of the limited-liability company in respect of their share of
the profits and other compensation by way of income on their contributions; and (c) Those to members of the limited-liability company in respect of their contributions
to capital. 2. Subject to any statement in the operating agreement, members share in the company's
assets in respect to their claims for capital and in respect to their claims for profits
or for compensation by way of income on their contributions, respectively, in proportion
to the respective amounts of the claims.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 86.521
What does Nevada Revised Statutes § 86.521 cover?
Section 86.521 ("Distribution of assets after dissolution") 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 § 86.521?
A common citation format is "Nevada Revised Statutes § 86.521" (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 § 86.521 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.