2023 Nevada Legislature – Preliminary Changes to Corporate Matters and Litigation Procedures

Volume: 22 | Issue: 27
June 19, 2023

On June 5, 2023, the Nevada Legislature ended its 82nd Session with the passage of many bills affecting Nevada employers. Below is a preliminary summary of new laws that may impact a Nevada employer in relation to litigation procedures and corporate matters. For each, we have provided a link to Nevada’s legislative website where you can view the final text of the bill (click on “As Enrolled”). If you have questions about these bills, please contact a KZA attorney.

There are still several bills pending which have passed the Legislature but have not been approved by the Governor. If these bills become laws, we will notify you via the Employer Report.  

AB 126 – Changes to procedures for business entities. This bill makes a variety of changes for corporations and other business entities. For example, it clarifies actions available to a corporation’s board of directors and authorizes a board to require a confidentiality agreement with a stockholder or other person who submits a demand to inspect the corporation’s records. It also authorizes a publicly traded corporation to decrease the number of issued and outstanding shares with the approval of certain stockholders. The bill’s changes became effective on May 30, 2023.

AB 76 – Litigation costs. This bill increases the amount of costs a prevailing party can receive in certain civil actions for expert witnesses from not more than $1,500 per expert witness to not more than $15,000 per expert witness. It amends NRS 18.005 which permits the recovery of reasonable fees for not more than five expert witnesses in certain situations. This change applies to any action filed on or after July 1, 2023, as well as any action pending on July 1, 2023.

SB 129 – Statute of Limitations, Sexual Assault This bill changes the statute of limitations for a civil action to recover damages for sexual assault. Under current law, a two year statute of limitations applies to a civil action to recover damages for sexual assault that occurred when the plaintiff was 18 years of age or older; sexual assault upon a plaintiff younger than 18 is exempted from this 2 year statute of limitations. This bill extends that exemption to all actions for sexual assault such that a plaintiff can now bring a civil action to recover damages for sexual assault any time after the assault occurred without regard to their age when the assault occurred. This bill applies retroactively and became effective on May 31, 2023.

KZA Employer Report articles are for general information only; they are not intended and should not be construed to be legal advice. Reading or replying to such articles does not establish an attorney-client relationship. In addition, because the subject matters and applicable laws discussed in Employer Report articles are often in a state of change and not always applicable to every type of business entity or organization, readers should consult with counsel before making decisions based on the same.

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