The Board of Regents, in the name and on behalf of the System, may: 1. Cause to be formed a nonprofit corporation pursuant to chapter 82 of NRS for the acquisition of real property for the future development and expansion of the University of Nevada, Reno, in Washoe County. 2. Provide the name of the corporation. 3. Specify that it is formed for charitable and educational purposes, subject to the basic object provided therefor in subsection 1. 4. Specify incidental powers which the corporation may exercise, including without limitation: (a) The power to solicit and receive contributions, gifts, grants, devises and bequests of real and personal property, or any combination thereof; (b) The powers enumerated in NRS 82.121; and (c) The power to do all acts and things as may be necessary or convenient or desirable to carry out the objects and purposes for which the corporation is formed. 5. Provide for: (a) The location and relocation of the principal office of the corporation; (b) The distribution of its assets, after the liquidation of its obligations, if any, to the System or its Board of Regents, as it may determine, for the benefit of the System upon any dissolution and b) The distribution of its assets, after the liquidation of its obligations, if any, to the System or its Board of Regents, as it may determine, for the benefit of the System upon any dissolution and liquidation of the corporation; (c) Its perpetual existence; (d) Its governing body and appointments and reappointments of members thereto; and (e) The adoption and alteration from time to time of bylaws by the corporation. (Added to NRS by 1968, 2; A 1969, 1439; 1981, 696; 1991, 1314; 1993, 356)
Nevada Legal Code