Friday, August 21, 2009
No New Corporations Sole in Nevada
In Senate Bill No. 55, the 2009 Nevada Legislature amended the Nevada Revised Statutes (NRS) governing the incorporation of corporations sole. A corporation sole may be formed in Nevada "for acquiring, holding or disposing of church or religious society property, for the benefit of religion, for works of charity, and for public worship," pursuant to NRS Chapter 84. As of July 1, 2009, new corporations sole may only be formed in Nevada if they are a subsidiary of an existing corporation sole. After July 1, 2011, no new corporations sole may be formed in Nevada. Senate Bill No. 55 does not change the status of existing corporations sole.