Nevada Revised Statutes Section 89.020 - Business Associations - Securities - Commodities

Definitions. As used in this chapter, unless the context requires otherwise:

1. “Employee” means a person licensed or otherwise legally authorized to render professional service within this State who renders such service through a professional corporation or a professional association, but does not include clerks, bookkeepers, technicians or other persons who are not usually considered by custom and practice of the profession to be rendering professional services to the public.

2. “Licensed” means legally authorized by the appropriate regulating board of this State to engage in a regulated profession in this State.

3. “Professional association” means a common-law association of two or more persons licensed or otherwise legally authorized to render professional service within this State when created by written articles of association which contain in substance the following provisions characteristic of corporate entities:

(a) The death, insanity, bankruptcy, retirement, resignation, expulsion or withdrawal of any member of the association does not cause its dissolution.

(b) The authority to manage the affairs of the association is vested in a board of directors or an executive board or committee, elected by the members of the association.

(c) The members of the association are employees of the association.

(d) Members’ ownership is evidenced by certificates.

4. “Professional corporation” means a corporation organized under this chapter to render a professional service.

5. “Professional service” means any type of personal service which may legally be performed only pursuant to a license, certificate of registration or other legal authorization.

6. “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.

7. “Regulating board” means the body which regulates and authorizes the admission to the profession which a professional corporation or a professional association is authorized to perform.

8. “Sign” means to affix a signature to a record.

9. “Signature” means a name, word, symbol or mark executed or otherwise adopted, or a record encrypted or similarly processed in whole or in part, by a person with the present intent to identify himself and adopt or accept a record. The term includes, without limitation, an electronic signature as defined in NRS 719.100.

Last modified: February 26, 2006