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Category: Corporate Governance

Are They Employees or Independent Contractors?

Posted on January 9, 2024February 3, 2024 By Jay Young No Comments on Are They Employees or Independent Contractors?

With challenges to the economy, companies are looking for every way possible to save money. A potential risk for employers is to mischaracterize an employee as an independent contractor, which may save payroll taxes in the short term but may lead to penalties on such taxes as well as other inadvertent violations of worker’s compensation laws,…

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Business Law, Corporate Governance, Employment Law, Franchise Law, J, Jay Young, Top Las Vegas, Nevada Mediator and Arbitrator

A Primer On Nevada Business Formation: Three Popular Entities And How To Structure Them

Posted on January 9, 2024February 3, 2024 By Jay Young No Comments on A Primer On Nevada Business Formation: Three Popular Entities And How To Structure Them

open-sign

What Type of Entity Should You Form?

Some of the most frequent questions that we receive from clients revolve around entity selection for conducting different types of businesses.  One aspect involves governance and authority.  The issue of governance and authority is important because it determines who has the legal authority to bind the company to contracts and to act on behalf of the company.

The three most popular types of entities are corporations, limited liability companies, and limited partnerships. There are others, however, that might be better suited to your needs.

Read More “A Primer On Nevada Business Formation: Three Popular Entities And How To Structure Them” »

Jay Young | Retired Las Vegas, Nevada Judge | Mediator | Arbitrator | Special Master
Jay Young

Hon. Jay Young (Ret.) is a retired judicial officer with decades of experience presiding over complex civil litigation matters. Following a distinguished career on the bench, Judge Young now serves as a mediator, arbitrator, and court‑appointed special master, and discovery referee.  Judge Young brings a disciplined, impartial, and results‑oriented approach to dispute resolution. Judge Young is based in Nevada and accepts appointments statewide and nationally, subject to agreement or court order. He can be reached at 855.777.4557 or info@armadr.com

Known for judicial temperament, analytical rigor, and practical problem‑solving, Judge Young assists litigants and counsel in resolving high‑stakes disputes efficiently and with integrity and employing best practices. He is recognized by U.S. News and World Report’s publication Best Lawyers as Arbitration Lawyer of the Year.

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Business Law, Corporate Governance, Franchise Law, J, Jay Young, Top Las Vegas, Nevada Mediator and Arbitrator

5 Reasons A Business Owner Should Consider Long Term Care Insurance

Posted on January 9, 2024February 3, 2024 By Jay Young No Comments on 5 Reasons A Business Owner Should Consider Long Term Care Insurance

Long term care insurance covers you for the expense of a in-home nursing care, nursing home, hospice care, assisted living, adult daycare, respite care, and Alzheimer’s facilities. As with any other insurance plan, long term care insurance seeks to protect you against a major loss that you can ill afford. When you think of it, the…

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Business Law, Corporate Governance, J, Jay Young, Top Las Vegas, Nevada Mediator and Arbitrator

So, You Want to Own Your Own Business in Nevada? The Nevada Law Blog’s Primer on Types of Business Formations

Posted on March 27, 2018January 9, 2024 By Jay Young No Comments on So, You Want to Own Your Own Business in Nevada? The Nevada Law Blog’s Primer on Types of Business Formations
So, You Want to Own Your Own Business in Nevada? The Nevada Business Law Blog's Primer on Nevada Business Law
So, You Want to Own Your Own Business in Nevada? The Nevada Law Blog’s Primer on Nevada Business Law

A Review of Nevada’s Corporate Law

Original Publication Date: 3.11.15

This article explores the advantages and disadvantages of various types of business entities in Nevada.  Generally, the main advantage of a corporate entity is to shield its owners from placing their personal assets in jeopardy for the obligations of the business.  If you are unsure which entity is right for you, call today 702.667.4828 for a consultation with one of our business attorneys.

Read More “So, You Want to Own Your Own Business in Nevada? The Nevada Law Blog’s Primer on Types of Business Formations” »

Jay Young | Retired Las Vegas, Nevada Judge | Mediator | Arbitrator | Special Master
Jay Young

Hon. Jay Young (Ret.) is a retired judicial officer with decades of experience presiding over complex civil litigation matters. Following a distinguished career on the bench, Judge Young now serves as a mediator, arbitrator, and court‑appointed special master, and discovery referee.  Judge Young brings a disciplined, impartial, and results‑oriented approach to dispute resolution. Judge Young is based in Nevada and accepts appointments statewide and nationally, subject to agreement or court order. He can be reached at 855.777.4557 or info@armadr.com

Known for judicial temperament, analytical rigor, and practical problem‑solving, Judge Young assists litigants and counsel in resolving high‑stakes disputes efficiently and with integrity and employing best practices. He is recognized by U.S. News and World Report’s publication Best Lawyers as Arbitration Lawyer of the Year.

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Business Law, Corporate Governance, J, Jay Young, Top Las Vegas, Nevada Mediator and Arbitrator

Corporate Actions Requiring Shareholder Approval in Nevada

Posted on October 17, 2017 By Jay Young No Comments on Corporate Actions Requiring Shareholder Approval in Nevada

In Nevada, the following actions require shareholder approval in the manner designated by the corporation’s governing documents or by a majority of shares if the documents are silent on the issue. The acts are required by Nevada’s corporate statutes linked below: Amending the corporation’s articles of incorporation; Election of directors; Removal of a director; Granting…

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Business Law, Corporate Governance, J

Officers and Directors Owe Fiduciary Duties to the Corporation

Posted on October 10, 2017January 9, 2024 By Jay Young No Comments on Officers and Directors Owe Fiduciary Duties to the Corporation
Officers and Directors Owe Fiduciary Duties to the Corporation
Officers and Directors Owe Fiduciary Duties to the Corporation

In Nevada, both the officers and directors of a corporation owe it fiduciary duties.  NRS 78.138.  Those duties include the duty of care and the duty of loyalty.  A fiduciary is a “person who is required to act for the benefit of another person on all matters within the scope of their relationship; one who owes to another the duties of good faith, trust, confidence, and candor” and loyalty.  Black’s Law Dictionary (8th ed.2004).  NRS 78.138 and 78.139 declare the duties specifically owed by a corporation’s fiduciaries.  

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Jay Young | Retired Las Vegas, Nevada Judge | Mediator | Arbitrator | Special Master
Jay Young

Hon. Jay Young (Ret.) is a retired judicial officer with decades of experience presiding over complex civil litigation matters. Following a distinguished career on the bench, Judge Young now serves as a mediator, arbitrator, and court‑appointed special master, and discovery referee.  Judge Young brings a disciplined, impartial, and results‑oriented approach to dispute resolution. Judge Young is based in Nevada and accepts appointments statewide and nationally, subject to agreement or court order. He can be reached at 855.777.4557 or info@armadr.com

Known for judicial temperament, analytical rigor, and practical problem‑solving, Judge Young assists litigants and counsel in resolving high‑stakes disputes efficiently and with integrity and employing best practices. He is recognized by U.S. News and World Report’s publication Best Lawyers as Arbitration Lawyer of the Year.

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Election for Directors of a Corporation

Posted on October 3, 2017 By Jay Young No Comments on Election for Directors of a Corporation
Elections for Directors of a Corporation
Elections for Directors of a Corporation

The election of directors of a corporation must be held at the annual shareholders meeting by a “plurality of the votes cast at the election” unless the corporation’s articles of incorporation or bylaws require more than a plurality. NRS 78.330.  If for any reason directors are not elected pursuant to NRS 78.320 or at the annual meeting, they may be elected at any fairly noticed special meeting of the shareholders. NRS 78.330(1).    Moreover, shareholders owning at least 15% of the voting power may apply to the district court to order the election of directors if a corporation fails to hold a meeting within 18 months of its last meeting.  NRS 78.345(1).

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Jay Young | Retired Las Vegas, Nevada Judge | Mediator | Arbitrator | Special Master
Jay Young

Hon. Jay Young (Ret.) is a retired judicial officer with decades of experience presiding over complex civil litigation matters. Following a distinguished career on the bench, Judge Young now serves as a mediator, arbitrator, and court‑appointed special master, and discovery referee.  Judge Young brings a disciplined, impartial, and results‑oriented approach to dispute resolution. Judge Young is based in Nevada and accepts appointments statewide and nationally, subject to agreement or court order. He can be reached at 855.777.4557 or info@armadr.com

Known for judicial temperament, analytical rigor, and practical problem‑solving, Judge Young assists litigants and counsel in resolving high‑stakes disputes efficiently and with integrity and employing best practices. He is recognized by U.S. News and World Report’s publication Best Lawyers as Arbitration Lawyer of the Year.

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Business Law, Corporate Governance, J

Corporate Annual Meetings: What They are and Why You Must Hold and Document Them Correctly

Posted on September 26, 2017January 9, 2024 By Jay Young No Comments on Corporate Annual Meetings: What They are and Why You Must Hold and Document Them Correctly
What Are They and Why You Must Hold and Document Them Correctly
Corporate Annual Meetings: What Are They and Why You Must Hold and Document Them Correctly?

Corporate Annual Meetings: What They are and How to Hold and Document Them Correctly            

A corporation in Nevada is recommended to hold an annual meeting of its shareholders or members.  The meeting may be held anywhere, but must be held in the location and manner provided for in the articles of incorporation and/or bylaws of the corporation.  Unless otherwise provided in the articles of incorporation or bylaws, the entire board of directors, any two directors, or the president may call annual and special meetings of the shareholders and directors.  NRS 78.310.

Read More “Corporate Annual Meetings: What They are and Why You Must Hold and Document Them Correctly” »

Jay Young | Retired Las Vegas, Nevada Judge | Mediator | Arbitrator | Special Master
Jay Young

Hon. Jay Young (Ret.) is a retired judicial officer with decades of experience presiding over complex civil litigation matters. Following a distinguished career on the bench, Judge Young now serves as a mediator, arbitrator, and court‑appointed special master, and discovery referee.  Judge Young brings a disciplined, impartial, and results‑oriented approach to dispute resolution. Judge Young is based in Nevada and accepts appointments statewide and nationally, subject to agreement or court order. He can be reached at 855.777.4557 or info@armadr.com

Known for judicial temperament, analytical rigor, and practical problem‑solving, Judge Young assists litigants and counsel in resolving high‑stakes disputes efficiently and with integrity and employing best practices. He is recognized by U.S. News and World Report’s publication Best Lawyers as Arbitration Lawyer of the Year.

nevadalawinfo.wordpress.com

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Business Law, Corporate Governance, J

Initial List of Officers and Directors

Posted on September 19, 2017 By Jay Young No Comments on Initial List of Officers and Directors
Business Entities: Initial List of Officers and Directors and State Business License.
Business Entities: Initial List of Officers and Directors and State Business License.

One of the requirements to start a new corporation in Nevada is to complete and file an Annual List of Officers, Directors, and Resident Agent with the Secretary of State’s office “on or before the last day of the first month after filing the articles of incorporation.”  NRS 78.150.

Read More “Initial List of Officers and Directors” »

Jay Young | Retired Las Vegas, Nevada Judge | Mediator | Arbitrator | Special Master
Jay Young

Hon. Jay Young (Ret.) is a retired judicial officer with decades of experience presiding over complex civil litigation matters. Following a distinguished career on the bench, Judge Young now serves as a mediator, arbitrator, and court‑appointed special master, and discovery referee.  Judge Young brings a disciplined, impartial, and results‑oriented approach to dispute resolution. Judge Young is based in Nevada and accepts appointments statewide and nationally, subject to agreement or court order. He can be reached at 855.777.4557 or info@armadr.com

Known for judicial temperament, analytical rigor, and practical problem‑solving, Judge Young assists litigants and counsel in resolving high‑stakes disputes efficiently and with integrity and employing best practices. He is recognized by U.S. News and World Report’s publication Best Lawyers as Arbitration Lawyer of the Year.

nevadalawinfo.wordpress.com

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Business Law, Corporate Governance, J

Business Entities: What is a Registered Agent in Nevada?

Posted on September 12, 2017 By Jay Young No Comments on Business Entities: What is a Registered Agent in Nevada?

In legal terms, a Registered Agent (“RA”) is a person or business who is designated by a business entity registered with the state to receive service of process when that entity is sued.  Service of process is the formal procedure for informing a company that legal action has been filed against it and requiring it…

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Business Law, Corporate Governance, J

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