1. 1. “Noneconomic member” means a member of a limited-liability company who:

   1. (a) Does not own a member’s interest in the company;
   2. (b) Does not have an obligation to contribute capital to the company;
   3. (c) Does not have a right to participate in or receive distributions from the company or an obligation to contribute to the losses of the company; and
   4. (d) May have voting rights and other rights and privileges given to noneconomic members of the company by the articles of organization or operating agreement.
2. 2. As used in this section, “distribution” has the meaning ascribed to it in NRS 86.279.

(Added to NRS by 2001, 1384; A 2001, 3199; 2021, 1514)