Nevada Administrative Code Chapter 88 - Limited Partnerships
Here’s an improved overview of Nevada Administrative Code (NAC) Chapter 88 – Limited Partnerships:
🌟 Structure & Scope
NAC Chapter 88 governs:
General organizational rules (e.g., naming requirements)
Annual filings, including lists of general partners
Penalties for conducting business without proper registration or a certificate
This administrative framework supports the Uniform Limited Partnership Act (NRS Chapter 88) by setting detailed procedural rules.
📘 Breakdown of Key Sections
1. General Provisions (§ 88.005–.010)
Naming standards: NAC 88.010 mandates that a proposed LP or LLLP name must be distinguishable from existing business names, using criteria from NAC 78.020–78.100 (law.cornell.edu, law.justia.com, stateagent.com).
2. Annual List of General Partners (§ 88.300–.340)
LPs must file an annual list of general partners with the Secretary of State.
NAC 88.340 allows terminated LPs/foreign LPs to select an alternative due date—but only after reinstatement (law.cornell.edu).
3. Penalties (§ 88.400–.415)
If a business purports to be (or operates as) an LP or LLLP without filing the necessary certificate or registration—or does so while in terminated status—the Secretary of State may refer the case for fines under NRS 88.352, 88.600, 88.6062, or 88.6087 (regulations.justia.com).
📌 How NAC 88 Complements NRS Chapter 88
NRS provides the statutory authority: definitions, formation requirements, partner rights/liabilities, dissolution, foreign LPs, etc.
NAC fills in procedural specifics: how to distinguish names, file certificates, file annual lists, and how penalties are enforced administratively.
✅ At-a-Glance Summary
| Section | NAC Chapter 88 Scope |
|---|---|
| General provisions | Naming, corporate identity rules (§88.005–.010) |
| Annual filings | Due dates, reinstatement rules (§88.300–.340) |
| Penalties | Administration and enforcement (§88.400–.415) |
📎 Need More Detail?
I can help you explore:
Specific naming rules or examples under § 88.010
Requirements and format for the annual list (§ 88.300+)
Process and fines for noncompliance (§ 88.400–.415)
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