Nevada legislators voted in the state’s 81st legislative session to expand the scope of permitted forum selection clauses in a corporation’s articles of incorporation or bylaws, which could have the result of permitting a corporation’s articles or bylaws to require that actions brought under certain federal securities laws be brought exclusively in the federal courts.
More than 50 statutory changes to the state’s the Business Associations title and related titles were enacted during the 81st session. These latest changes to Nevada’s business entity law are captured in the 2021 Legislative Update to Nevada Laws Governing Business Entities Annotated, releasing this month from CSC®Publishing in collaboration with LexisNexis.
The acts are presented in this supplement as enrolled by the Legislature, and are not effective until October 1, 2021. They have not yet been reviewed by the Legislative Counsel, which will assign code numbers to the newly enacted sections and may make changes to the official statutory text. The final versions of the affected statutes, along with the latest case notes, will be included in the 2022 Edition of CSC’s Nevada Laws Governing Business Entities Annotated.
Notable changes included amendments regarding:
- Expansion of permitted forum selection clauses
- Fiduciary duties of directors and officers
- Meetings of stockholders
- Voting trusts and stockholder agreements
- Mergers and dissenter’s rights
- Limited liability companies
The 2021 Update includes a Table of Sections Affected identifying added/amended statutes, as well as analysis of the changes by experienced Nevada attorneys Ellen Schulhofer and Albert Kovacs of Brownstein Hyatt Farber Schreck LLP. There is also an up-to-date Nevada Business Fee Schedule, and online access to more than 90 Nevada forms for incorporation/formation, qualification, mergers, dissolution, and name reservation for all entity types via the LexisNexis download center.
The 2021 Legislative Update to Nevada Laws Governing Business Entities Annotated is available as a softbound book or as an ebook, compatible with dedicated e-reader devices, computers, tablets and smartphones that use e-reader software or applications. It is also available on the LexisNexis Digital Library.
To learn more about the 2021 Legislative Update to Nevada Laws Governing Business Entities Annotated, call 1.800.533.1637 or visit us online at www.lexisnexis.com/csc.
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