Nevada Secretary of StateRoss Miller

Why Nevada is a great place

to start and manage your business

When SilverFlume launched in

2012, Nevada Secretary of State

Ross Miller wanted to distinguish

Nevada's business portal from the

vast array of other "portals" on the

internet. Seeking a unique term

with Nevada roots, Secretary Miller

branded the state's business portal

"SilverFlume". Flumes are artificial

water channels and were used

extensively to carry minerals and

timber in a quick and efficient

manner in the mines that made

Nevada “The Silver State".

SilverFlume replicates the fluidity of

those waterways by acting as a

portal to transfer information. The

internet has many "portals," but

there is only one "SilverFlume".

SilverFlume is more than a great

name. It is a valuable tool to start

and expand businesses that will

grow Nevada’s economy…

together, in one place.

nvsilverflume.gov

SilverFlume New Business Checklist

5 Simple Steps(And why independent contractors are a business under NV Law)

Do your homework: Know which entity type fits your business needs

List ALL of your industriesYou may need a regulatory permit and/or license

Local LicensingPhysical and service locations may require a local license

Do you pay people?Make sure to know the difference under the law

between an independent contractor and an “employee”

Buying and/or selling tangible goods? You may need a permit(s).

Get Started

OR

Save it for later

Digital OA Overviewwww.nvsilverflume.gov/digitaloa

• Created in recognition that the creation of an Operating Agreement can be confusing, time-consuming, and can result in legal costs that many start-ups cannot afford.

• The Digital OA creates an entrepreneurial environment in which multiple partners from various locations around the world can conduct business as partners in a well-structured legal entity.

• The Digital OA automates the agreement process and eliminates barriers to entry.

• It’s FREE!!

https://www.youtube.com/watch?v=j7OwxAVkYlo&feature=youtu.be

What is an Operating Agreement

• Risk of not having an operating agreement– Personal liability

– Problems between members themselves

• What are the benefits– Avoid controversies regarding distribution of profit/loss

– Determine how/when a member may withdraw

– Determine how/when a member may assign their membership interest

– Set restrictions on mergers, acquisitions and other events

– Place restrictions on management

Who can set up a Digital OA?

• Who can approve/reject an OA?

• Does Digital OA create a legally binding document?

– Yes, in Nevada an Operating Agreement creates a legally binding document (Assembly Bill 564).

What are the pre-requisites?

• Nevada LLC registered with NV Secretary of State’s Office and in good standing

– www.nvsilverflume.gov

• How to set up a SilverFlume Digital OA?

Questions?

775.684.5708support@nvsilverflume.gov

Presenters:Scott Anderson, Deputy for Commercial Recordings

Karen Michael, Business Portal Administrator