EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted. Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).

1-1 Whereas, The State of Nevada is recognized for its achievements in

1-2 establishing and maintaining an attractive climate for business entities to

1-3 organize and conduct business; and

1-4 Whereas, The State of Nevada has a vital interest in ensuring that

1-5 business entities continue to enjoy the benefits of organizing and

1-6 conducting business in this state; and

1-7 Whereas, A comprehensive assessment of the possible methods to

1-8 encourage corporations and other business entities to organize and conduct

1-9 business in this state would be beneficial in maintaining and improving the

1-10 attractive climate for business entities that exists in this state; and

1-11 Whereas, A comprehensive assessment should include a review of

1-12 methods that have helped other states to become more user-friendly to

1-13 business entities, such as the reduction of certain administrative fees, the

1-14 expanded use of available technology and the extension of the hours of

1-15 operation of the Office of the Secretary of State; and

1-16 Whereas, The establishment of a court of limited jurisdiction to resolve

1-17 litigation and contractual disputes relating to business entities may promote

1-18 greater specialization among judges, may ensure that cases and disputes are

1-19 heard by judges with experience and expertise in complex corporate and

1-20 fiduciary matters, may contribute to the development and stability of

1-21 corporate and business law and may ensure consistency in the disposition

1-22 of cases and disputes involving business entities; now, therefore, be it

2-1 Resolved by the Senate of the State of Nevada, the Assembly

2-2 Concurring, That the Legislative Commission is hereby directed to

2-3 appoint a subcommittee consisting of legislators to conduct an interim

2-4 study of methods to encourage corporations and other business entities to

2-5 organize and conduct business in this state; and be it further

2-6 Resolved, That, in addition to the subcommittee, the Legislative

2-7 Commission shall appoint an advisory committee to assist the

2-8 subcommittee, which must include, without limitation:

2-9 1. One representative from the Office of the Secretary of State;

2-10 2. One representative from the Commission on Economic

2-11 Development; and

2-12 3. One representative from the Business Law Section of the State Bar

2-13 of Nevada; and be it further

2-14 Resolved, That the study must include, without limitation, a

2-15 comprehensive assessment of:

2-16 1. Whether any laws concerning business entities should be revised to

2-17 facilitate the organization of business entities in this state and the

2-18 conducting of business by business entities in this state;

2-19 2. The administrative fees charged to business entities who organize or

2-20 conduct business in this state;

2-21 3. The need for expanded use of technology, including, without

2-22 limitation, electronic filing of documents, to assist the Office of the

2-23 Secretary of State in maintaining a high level of service for business

2-24 entities;

2-25 4. Whether the hours of operation of the Office of the Secretary of

2-26 State should be extended; and

2-27 5. Whether a court of limited jurisdiction should be established to

2-28 resolve litigation and contractual disputes relating to business entities, and

2-29 the possible organization of such a court, including, without limitation:

2-30 (a) The jurisdiction of such a court;

2-31 (b) The manner in which the judges for the court would be selected if

2-32 such a court were to be established in this state and the qualifications

2-33 required for such judges; and

2-34 (c) The development of a proposed structure and administration for the

2-35 court, with consideration given to caseloads, facilities and personnel

2-36 required for the operation of the court and consideration given to the

2-37 possible effects on the operation and organization of the other courts in this

2-38 state; and be it further

2-39 Resolved, That no action may be taken by the subcommittee on

2-40 recommended legislation unless it receives a majority vote of the Senators

2-41 on the subcommittee and a majority vote of the Assemblymen on the

2-42 subcommittee; and be it further

3-1 Resolved, That the Legislative Commission submit a report of the

3-2 results of the study and any recommended legislation to the 71st session of

3-3 the Nevada Legislature.