reglab/housing_qa huggingface dataset:
NV Rev Stat § 463.57325 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.57325 - Prior approval by Chair of Board required to hold option to purchase interest in limited-liability company or to dispose of existing option to acquire such interest; review of denial of approval.

  1. The purported granting of an option to purchase any interest in a limited-liability company which holds a state gaming license or which is a holding company or an intermediary company for an entity that holds a state gaming license or the purported sale, assignment, transfer, pledge or other disposition of an existing option to acquire such an interest is void unless administratively approved in advance by the Chair of the Board.  2. A request for administrative approval pursuant to subsection 1 must:  (a) Be made on forms approved by the Chair of the Board; and  (b) To the extent consistent with this section, be considered in all respects as an application.  3. The Chair of the Board may refer a request for administrative approval to the Board and Commission for consideration or deny the request for administrative approval for any reasonable cause. A denial may be submitted for review by the Board and Commission in the manner set forth by the regulations of the Commission pertaining to the review of administrative approval decisions.  4. The Commission, upon recommendation by the Board, may require a person to apply for a finding of suitability to hold an option to purchase such an interest.  (Added to NRS by 2003, 20th Special Session, 3; A 2007, 1116)
NV Rev Stat § 463.5733 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.5733 - Prior approval by Commission required for other disposition of interest in limited-liability company; restrictions on unsuitable persons; statement on certificate.

  1. The purported sale, assignment, transfer, pledge, exercise of an option to purchase, or other disposition of any interest in a limited-liability company which holds a state gaming license or which is a holding company or an intermediary company for an entity that holds a state gaming license is void unless approved in advance by the Commission.  2. If at any time the Commission finds that a member is unsuitable to hold an interest in a limited-liability company, the Commission shall immediately notify the limited-liability company of that fact. The limited-liability company shall, within 10 days after it receives the notice from the Commission, return to the member, in cash, the amount of the member’s capital account as reflected on the books of the company.  3. Except as otherwise provided in subsection 2, beginning on the date when the Commission serves notice of a determination of unsuitability pursuant to subsection 2 upon the limited-liability company, it is unlawful for the unsuitable member:  (a) To receive any share of the distribution of profits of the limited-liability company or any payments upon dissolution of the company;  (b) To exercise any voting right conferred by the member’s interest in the limited-liability company;  (c) To participate in the management of the limited-liability company; or  (d) To receive any remuneration in any form from the limited-liability company, for services rendered or otherwise.  4. The articles of organization of any limited-liability company holding a state gaming license must contain a statement of the restrictions imposed by this section.  (Added to NRS by 1993, 1994; A 1997, 3504; 2003, 20th Special Session, 14; 2007, 1116)
NV Rev Stat § 463.5734 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.5734 - Registration with Board; required information.

A limited-liability company which applies for a license shall register as a limited-liability company with the Board, and shall provide the following information to the Board:  1. The organization, financial structure and nature of the business to be operated, including:  (a) The names and personal history of each director, manager, member and key employee; and  (b) A complete set of the fingerprints of each director, manager, member and key employee which the Board may forward to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report.  2. The rights, privileges and relative priorities of the members as to the return of contributions to capital and the right to receive distribution of profits.  3. The terms on which interests in the limited-liability company are to be offered.  4. The terms and conditions of all outstanding loans, mortgages, trust deeds, pledges and any other indebtedness or security device.  5. The extent of the holding in the limited-liability company of all underwriters, and their remuneration as compensation for services, in the form of salary, wages, fees or otherwise.  6. Remuneration to persons other than directors and managers exceeding $30,000 per annum.  7. Bonus and profit-sharing arrangements.  8. Management and service contracts.  9. Options existing, or to be created.  10. Balance sheets for at least the 3 preceding fiscal years or, if the limited-liability company has not been in existence for 3 years, balance sheets from the time of its formation. All balance sheets must be certified by independent public accountants certified or registered in this state.  11. Profit and loss statements for at least the 3 preceding fiscal years or, if the limited-liability company has not been in existence for 3 years, profit and loss statements from the time of its formation. All profit and loss statements must be certified by independent public accountants certified or registered in this state.  12. Any further financial data which the Board may deem necessary or appropriate for the protection of the State of Nevada, or licensed gambling, or both.  (Added to NRS by 1993, 1994; A 2001, 897; 2003, 2853)
NV Rev Stat § 463.5735 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.5735 - Individual licensing and registration of members, directors, managers and other persons; regulations.

  1. Every member and transferee of a member’s interest with more than a 5 percent ownership interest in a limited-liability company, and every director and manager of a limited-liability company which holds or applies for a state gaming license, must be licensed individually according to the provisions of this chapter.  2. All members seeking to hold a 5 percent or less ownership interest in a limited-liability company, other than a publicly traded limited-liability company, which hold or apply for a state gaming license, must register in that capacity with the Board and submit to the Board’s jurisdiction. Such registration must be made on forms prescribed by the Chair of the Board. The Chair of the Board may require a registrant to apply for licensure at any time in the Chair’s discretion.  3. If, in the judgment of the Commission, the public interest will be served by requiring any members with a 5 percent or less ownership interest in a limited-liability company, or any of the limited-liability company’s lenders, holders of evidence of indebtedness, underwriters, key executives, agents or employees to be licensed:  (a) The limited-liability company shall require those persons to apply for a license in accordance with the laws and requirements in effect at the time the Commission requires the licensing; and  (b) Those persons shall apply for a license within 30 days after being requested to do so by the Commission.  4. A publicly traded corporation which is a member of a limited-liability company is not required to be licensed, but shall comply with NRS 463.635 to 463.645, inclusive.  5. No person may become a member or a transferee of a member’s interest in a limited-liability company which holds a license until the person secures the required approval of the Commission.  6. A director or manager of a limited-liability company shall apply for a license within 30 days after assuming office.  7. The Commission may, with the advice and assistance of the Board, adopt such regulations as it deems necessary to carry out the provisions of subsection 2.  (Added to NRS by 1993, 1995; A 1997, 3505; 2001, 898; 2011, 210; 2013, 2108, 3311)
NV Rev Stat § 463.5736 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.5736 - Required reports and statements; income tax returns.

  1. After licensing pursuant to NRS 463.5735, a limited-liability company shall:  (a) Report to the Board and Commission in writing any change in personnel who have been designated by the Board or Commission as key executives.  (b) Furnish the Board an annual profit and loss statement and an annual balance sheet.  2. The Commission may require that a limited-liability company furnish the Board with a copy of its federal income tax return within 30 days after the return is filed with the Federal Government.  (Added to NRS by 1993, 1996)
NV Rev Stat § 463.5737 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.5737 - Removal or modification of employment of employee, director or manager who is found unsuitable or whose license is denied or revoked; licensing of successor.

  1. If a person who is an employee, a director or a manager of a limited-liability company which holds a license is required to be licensed individually, and the person:  (a) Does not apply for a license within 30 days after the Commission requests the person to do so, and the Commission makes a finding of unsuitability for that reason;  (b) Is denied a license; or  (c) Has his or her license revoked by the Commission,  the limited-liability company for whom the person is a manager or director or by whom the person is employed shall, upon receiving notice by registered or certified mail from the Commission, remove the person as a director or manager or modify the person’s employment so that the person no longer serves in a capacity for which the person is required to be licensed, and shall not allow the person to exercise a significant influence over the limited-liability company’s operation of a gaming establishment.  2. If the limited-liability company designates another employee, director or manager to replace the employee, director or manager whose employment was modified or who was removed as a director or manager, it shall promptly notify the Commission and require the newly designated employee, director or manager to apply for a license.  (Added to NRS by 1993, 1996; A 2001, 898)
NV Rev Stat § 463.575 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.575 - Applicability of NRS 463.575 to 463.615, inclusive; exemption for publicly traded corporation.

NRS 463.575 to 463.615, inclusive, apply to every holding company or intermediary company except a publicly traded corporation which has been exempted from the operation of all or some of the provisions of such sections pursuant to NRS 463.625.  (Added to NRS by 1969, 366)
NV Rev Stat § 463.595 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.595 - Individual licensing of officers, employees and other persons; removal from position if found unsuitable or if license is denied or revoked; suspension of suitability by Commission.

  1. Each officer, employee, director, partner, principal, manager, member, trustee or direct or beneficial owner of any interest in any holding company or intermediary company, who the Commission determines is or is to become engaged in the administration or supervision of, or any other significant involvement with, the activities of a licensee, must be found suitable therefor and may be required to be licensed by the Commission.  2. If any officer, employee, director, partner, principal, manager, member, trustee or direct or beneficial owner required to be found suitable pursuant to subsection 1 fails to apply for a finding of suitability or a gaming license within 30 days after being requested so to do by the Commission, is not found suitable or is denied a license by the Commission, or if his or her license or the finding of his or her suitability is revoked after appropriate findings by the Commission, the holding company or intermediary company, or both, shall immediately remove that person from any position in the administration or supervision of, or any other significant involvement with, the activities of a licensee. If the Commission suspends the suitability or license of any officer, employee, director, partner, principal, manager, member, trustee or owner, the holding company or intermediary company, or both, shall, immediately and for the duration of the suspension, suspend the person from performing any duties in administration or supervision of the activities of the licensee and from any other significant involvement therewith.  (Added to NRS by 1969, 368; A 1977, 1439; 1993, 2006)
NV Rev Stat § 463.605 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.605 - Information required if corporation or other business organization is or becomes subsidiary.

If a corporation, partnership, limited partnership, limited-liability company or other business organization applying for or holding a license is or becomes a subsidiary, each holding company and intermediary company shall furnish the Board the following information:  1. The organization, financial structure and nature of the business it operates.  2. The terms, position, rights and privileges of the different classes of securities outstanding.  3. The terms on which its securities are to be, and during the preceding 3 years have been, offered to the public or otherwise.  4. The terms and conditions of all outstanding loans, mortgages, trust deeds, pledges or any other indebtedness or security device pertaining to the gaming licensee.  5. The extent of the security holding or other interest in the holding company or intermediary company of all officers, employees, directors, underwriters, partners, principals, managers, members, trustees or any direct or beneficial owner, and any remuneration as compensation for their services, in the form of salary, wages, fees, or by contract, pertaining to the gaming licensee.  6. Remuneration to others than directors and officers exceeding $40,000 per annum.  7. Bonus and profit-sharing arrangements.  8. Management and service contracts.  9. Options existing or to be created in respect of their securities or other interests.  10. Balance sheets, certified by independent certified public accountants, for not more than the 3 preceding fiscal years, or, if the holding company or intermediary company has not been in existence more than 3 years, balance sheets from the time of its establishment.  11. Profit and loss statements, certified by independent certified public accountants, for not more than the 3 preceding fiscal years, or, if the holding company or intermediary company has not been in existence more than 3 years, profit and loss statements from the time of its establishment.  12. Any further financial statements which the Board may deem necessary or appropriate for the protection of the State of Nevada, licensed gambling, or both.  13. An annual profit and loss statement and an annual balance sheet, and a copy of its annual federal income tax return, within 30 days after such return is filed with the Federal Government.  (Added to NRS by 1969, 368; A 1975, 694; 1993, 2006)
NV Rev Stat § 463.615 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.615 - Penalties for noncompliance with laws and regulations.

If any corporation, partnership, limited partnership, limited-liability company or other business organization holding a license or if any holding company or intermediary company with respect thereto, does not comply with the laws of this state and the regulations of the Commission, the Commission may, in its discretion, do any one, all or a combination of the following:  1. Revoke, limit, condition or suspend the license of the corporation, partnership, limited partnership, limited-liability company or other business organization; or  2. Fine the persons involved, or the corporation, partnership, limited partnership, limited-liability company or other business organization holding a license or such holding company or intermediary company,  in accordance with the laws of this state and the regulations of the Commission.  (Added to NRS by 1969, 369; A 1979, 1529; 1993, 2007)
NV Rev Stat § 463.621 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.621 - Legislative declaration.

The Legislature hereby declares that:  1. Some corporate acquisitions opposed by management, repurchases of securities and corporate defense tactics affecting corporate gaming licensees and publicly traded corporations that are affiliated companies can constitute business practices which may be injurious to stable and productive corporate gaming.  2. A regulatory scheme established to ameliorate the potential adverse effects of these business practices upon the gaming industry must be properly developed to balance the interests of Nevada gaming, interstate commerce and federal regulation of securities.  3. A regulatory scheme established to ameliorate the potential adverse effects of these business practices upon the gaming industry may best be accomplished by the adoption and enforcement of regulations by the Nevada Gaming Commission.  (Added to NRS by 1987, 1742)
NV Rev Stat § 463.622 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.622 - Policy of State. [Effective through December 31, 2019.]

The policy of the State of Nevada with respect to corporate acquisitions, repurchases of securities and corporate recapitalizations affecting corporate licensees and publicly traded corporations that are affiliated companies is to:  1. Assure the financial stability of corporate licensees and affiliated companies;  2. Preserve the beneficial aspects of conducting business in the corporate form; and  3. Promote a neutral environment for the orderly governance of corporate affairs that is consistent with the public policy of this state concerning gaming.  (Added to NRS by 1987, 1743)
NV Rev Stat § 463.622 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.622 - Policy of State. [Effective January 1, 2020.]

The policy of the State of Nevada with respect to corporate affairs, including, without limitation, corporate acquisitions, repurchases of securities and corporate recapitalizations affecting corporate licensees and publicly traded corporations that are affiliated companies is to:  1. Assure the financial stability of corporate licensees and affiliated companies;  2. Protect the continued integrity of corporate gaming in matters of corporate governance;  3. Preserve the beneficial aspects of conducting business in the corporate form; and  4. Promote a neutral environment for the orderly governance of corporate affairs that is consistent with the public policy of this state concerning gaming.  (Added to NRS by 1987, 1743; A 2019, 1281, effective January 1, 2020)
NV Rev Stat § 463.623 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.623 - Regulations concerning certain corporate acquisitions, repurchases of securities and corporate defense tactics. [Effective through December 31, 2019.]

The Commission may adopt regulations providing for the review and approval of corporate acquisitions opposed by management, repurchases of securities and corporate defense tactics affecting corporate gaming licensees and publicly traded corporations that are affiliated companies. The regulations must be consistent with:  1. The policy of this state as expressed in this chapter;  2. The provisions of this chapter;  3. The requirements of the Constitution of the United States; and  4. Federal regulation of securities.  (Added to NRS by 1987, 1743)
NV Rev Stat § 463.623 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.623 - Regulations concerning certain corporate acquisitions, repurchases of securities and corporate defense tactics. [Effective January 1, 2020.]

  1. The Commission shall adopt regulations providing for the review and approval of corporate acquisitions opposed by management, repurchases of securities and corporate defense tactics affecting corporate gaming licensees and publicly traded corporations that are affiliated companies. The regulations must be consistent with:  (a) The policy of this state as expressed in this chapter;  (b) The provisions of this chapter;  (c) The requirements of the Constitution of the United States; and  (d) Federal regulation of securities.  2. The regulations must include, without limitation:  (a) Procedures by which a person, before engaging in certain proscribed activities, directly or indirectly, to materially influence or affect the affairs of a publicly traded corporation that is registered with the Commission, must file an application for a finding of suitability pursuant to NRS 463.643;  (b) Provisions that determine which corporate activities, in addition to those described in subsection 6 of NRS 463.643, influence or affect the affairs of a corporation in such a way that the Commission would require a person to file an application for a finding of suitability pursuant to NRS 463.643; and  (c) Provisions that ensure that a person is not unduly prohibited from lawfully exercising any of his or her voting rights derived from being a shareholder of a publicly traded corporation.  (Added to NRS by 1987, 1743; A 2019, 1281, effective January 1, 2020)
NV Rev Stat § 463.625 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.625 - Exemptions from certain requirements; compliance with NRS 463.635 to 463.645, inclusive.

The Commission may exempt a publicly traded corporation from compliance with any of the provisions of NRS 463.575 to 463.615, inclusive. To the extent of such an exemption, the corporation shall comply instead with the provisions of NRS 463.635 to 463.645, inclusive, except as otherwise ordered by the Commission.  (Added to NRS by 1969, 369; A 1971, 676; 1985, 1477; 1993, 189)
NV Rev Stat § 463.627 (2021)
2021 Nevada Revised Statutes|Chapter 463 - Licensing and Control of Gaming|NRS 463.627 - Registration of corporation of another country: Application; investigation; expenses of investigation.

  1. A corporation or other legal entity which is organized under the laws of another country and seeks to register with the Commission as a publicly traded corporation must submit an application to the Board.  2. The application must provide the Board with information showing that the applicant’s business activities are regulated by a governmental authority of the foreign country in a manner which will prevent those activities from posing any threat to the control of gaming in this state.  3. The Board may conduct an investigation of the applicant and the governmental authority responsible for regulation of the applicant. The Board shall require the applicant to pay the Board’s anticipated expenses for such an investigation, and may, after completing such an investigation, charge the applicant any amount necessary to cover an underpayment of the actual expenses.  (Added to NRS by 1985, 1476)