reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 89 - Professional Entities and Associations › NRS 89.215 - Penalty for purporting to do business as professional association without filing articles of association; enforcement; regulations.

1. Every person who is purporting to do business in this State as a professional association and who willfully fails or neglects to file with the Secretary of State articles of association is subject to a fine of not less than $1,000 but not more than $10,000, to be recovered in a court of competent jurisdiction.
2. When the Secretary of State is advised that a person is subject to the fine described in subsection 1, the Secretary of State may, as soon as practicable, refer the matter to the district attorney of the county in which the person’s principal place of business is located or the Attorney General, or both, for a determination of whether to institute proceedings to recover the fine. The district attorney of the county in which the person’s principal place of business is located or the Attorney General may institute and prosecute the appropriate proceedings to recover the fine. If the district attorney or the Attorney General prevails in a proceeding to recover the fine described in subsection 1, the district attorney or the Attorney General is entitled to recover the costs of the proceeding, including, without limitation, the cost of any investigation and reasonable attorney’s fees.
3. In the course of an investigation of a violation of this section, the Secretary of State may require a person to answer any interrogatory submitted by the Secretary of State that will assist in the investigation.
4. The Secretary of State may adopt regulations to administer the provisions of this section.
(Added to NRS by 2009, 1714; A 2013, 896)
2023 Nevada Revised Statutes › Chapter 89 - Professional Entities and Associations › NRS 89.220 - Professional relationship preserved.

The provisions of this chapter relating to professional associations do not modify any law applicable to the relationship between a person furnishing professional service and a person receiving such service, including liability arising out of such professional service, but:
1. A member or employee of a professional association shall not be personally liable in tort for any act in which the member or employee has not personally participated.
2. A member or employee of a professional association shall not be personally liable in contract for any contract which the member or employee signs on behalf of a professional association within the limits of his or her actual authority.
(Added to NRS by 1969, 523; A 2003, 3161)
2023 Nevada Revised Statutes › Chapter 89 - Professional Entities and Associations › NRS 89.230 - Restrictions on membership and rendering of professional services.

Except as otherwise provided in NRS 623.349, members who organize a professional association must all be natural persons licensed to render the same specific professional services as those for which the professional association is organized. Except as otherwise provided by law, a professional association may render professional service only through its members and employees who are licensed or otherwise authorized by law to render the professional service.
(Added to NRS by 1969, 523; A 1995, 2120; 2001, 1783)
2023 Nevada Revised Statutes › Chapter 89 - Professional Entities and Associations › NRS 89.240 - Duties upon legal disqualification of member or employee; redemption of and restrictions on transfer and ownership of member’s interest.

1. If any member or employee of a professional association who has been rendering professional service to the public becomes legally disqualified to render the professional service within this State, the member or employee shall sever within a reasonable period all professional service with and financial interest in the association; but this chapter does not prevent a professional association from entering into a contract with a member or employee which provides for severance pay or for compensation for past services upon termination of professional service, whether by death or otherwise. Upon the death of a member of the association who has transferred his or her interest in the association to a revocable trust as permitted by subsection 2, the trustee of the revocable trust may continue to retain any interest so transferred for a reasonable period, but may not exercise any authority concerning the rendering of professional services and may not, except as otherwise provided in NRS 623.349, distribute the interest in the association or its assets to any person not licensed to render the services for which the association was organized.
2. Except as otherwise authorized by NRS 623.349, a membership interest in a professional association may not be sold or transferred except to a natural person who is eligible to be a member of the association or to the personal representative or estate of a deceased or legally incapacitated member, except as provided in this subsection. The personal representative of such a member may continue to own such interest for a reasonable period, but may not participate in any decisions concerning the rendering of professional service. A member may transfer his or her interest in the association or any other interest in the assets of the association to a revocable trust if the member acts as trustee of the revocable trust and any person who acts as cotrustee and is not licensed to perform the services for which the association is organized does not participate in any decisions concerning the rendering of those professional services.
3. The articles of association may provide specifically for additional restrictions on the transfer of members’ interests and may provide for the redemption or purchase of such an interest by the association or its other members at prices and in a manner specifically set forth in the articles.
(Added to NRS by 1969, 523; A 1991, 1308; 1995, 2120; 2001, 1783)
2023 Nevada Revised Statutes › Chapter 89 - Professional Entities and Associations › NRS 89.251 - List or statement to be maintained at principal place of business or with custodian of records; requirement to assist in criminal investigation; failure to comply; regulations.

1. A professional association shall maintain at its principal place of business in this State or with its custodian of records:
(a) A current list of each member; or
(b) A statement indicating where such a list is maintained.
2. Upon the request of the Secretary of State, the professional association shall:
(a) Provide the Secretary of State with the name and contact information of the custodian of the list described in subsection 1. The information required pursuant to this paragraph shall be kept confidential by the Secretary of State.
(b) Provide written notice to the Secretary of State within 10 days after any change in the information contained in the list described in subsection 1.
3. Upon the request of any law enforcement agency in the course of a criminal investigation, the Secretary of State may require a professional association to:
(a) Submit to the Secretary of State, within 3 business days, a copy of the list required to be maintained pursuant to subsection 1; or
(b) Answer any interrogatory submitted by the Secretary of State that will assist in the criminal investigation.
4. If a professional association fails to comply with any requirement pursuant to subsection 3, the Secretary of State may take any action necessary, including, without limitation, the suspension or revocation of the articles of association.
5. The Secretary of State shall not reinstate or revive articles of association that were revoked or suspended pursuant to subsection 4 unless:
(a) The professional association complies with the requirements of subsection 3; or
(b) The law enforcement agency conducting the investigation advises the Secretary of State to reinstate or revive the articles of association.
6. The Secretary of State may adopt regulations to administer the provisions of this section.
(Added to NRS by 2007, 1335; A 2009, 2858; 2019, 400)
2023 Nevada Revised Statutes › Chapter 89 - Professional Entities and Associations › NRS 89.252 - Defaulting associations: Identification; penalty.

1. Each professional association that is required to make a filing and pay the fee prescribed in NRS 89.250 but refuses to do so within the time provided is in default.
2. For default, there must be added to the amount of the fee a penalty of $75. The fee and penalty must be collected as provided in this chapter.
(Added to NRS by 1995, 1138; A 2001, 3191; 2003, 20th Special Session, 113)
2023 Nevada Revised Statutes › Chapter 89 - Professional Entities and Associations › NRS 89.254 - Defaulting associations: Duties of Secretary of State; forfeiture of right to transact business; assets held in trust; distribution of assets.

1. The Secretary of State shall provide written notice to each professional association which is in default pursuant to the provisions of NRS 89.252. The written notice:
(a) Must include a statement indicating the amount of the filing fee, penalties incurred and costs remaining unpaid.
(b) At the request of the professional association, may be provided electronically.
2. On the first day of the first anniversary of the month following the month in which the filing was required, the articles of association of the professional association are revoked and its right to transact business is forfeited.
3. The Secretary of State shall compile a complete list containing the names of all professional associations whose right to transact business has been forfeited.
4. The Secretary of State shall forthwith notify each professional association specified in subsection 3 by providing written notice of the forfeiture of its right to transact business. The written notice:
(a) Must include a statement indicating the amount of the filing fee, penalties incurred and costs remaining unpaid.
(b) At the request of the professional association, may be provided electronically.
5. If the articles of association of a professional association are revoked and the right to transact business is forfeited, all the property and assets of the defaulting professional association must be held in trust by its members, as for insolvent corporations, and the same proceedings may be had with respect to its property and assets as apply to insolvent corporations. Any interested person may institute proceedings at any time after a forfeiture has been declared, but, if the Secretary of State reinstates the articles of association, the proceedings must be dismissed and all property restored to the members of the professional association.
6. If the assets of the professional association are distributed, they must be applied to:
(a) The payment of the filing fee, penalties and costs due to the State; and
(b) The payment of the creditors of the professional association.
Any balance remaining must be distributed as set forth in the articles of association or, if no such provisions exist, among the members of the professional association.
(Added to NRS by 1995, 1138; A 2003, 20th Special Session, 113)
2023 Nevada Revised Statutes › Chapter 89 - Professional Entities and Associations › NRS 89.256 - Defaulting associations: Conditions and procedure for reinstatement.

1. Except as otherwise provided in subsections 3 and 4 and NRS 89.251, the Secretary of State shall reinstate any professional association which has forfeited its right to transact business under the provisions of this chapter and restore the right to carry on business in this State and exercise its privileges and immunities if it:
(a) Files with the Secretary of State:
(1) The list and certification required by NRS 89.250;
(2) The information required pursuant to NRS 77.310; and
(3) A declaration under penalty of perjury, on a form provided by the Secretary of State, that the reinstatement is authorized by a court of competent jurisdiction in this State or by the duly selected chief executive officer of the professional association; and
(b) Except as otherwise provided in NRS 231.14057, pays to the Secretary of State:
(1) The filing fee and penalty set forth in NRS 89.250 and 89.252 for each year or portion thereof during which the articles of association have been revoked; and
(2) A fee of $300 for reinstatement.
2. When the Secretary of State reinstates the professional association, the Secretary of State shall issue to the professional association a certificate of reinstatement if the professional association:
(a) Requests a certificate of reinstatement; and
(b) Pays the required fees pursuant to subsection 7 of NRS 78.785.
3. Except as otherwise provided in NRS 231.14057, the Secretary of State shall not order a reinstatement unless all delinquent fees and penalties have been paid, and the revocation of the articles of association occurred only by reason of the failure to pay the fees and penalties.
4. If the articles of association of a professional association have been revoked pursuant to the provisions of this chapter and have remained revoked for 10 consecutive years, the articles must not be reinstated.
5. A reinstatement pursuant to this section relates back to the date on which the professional association forfeited its right to transact business under the provisions of this chapter and reinstates the professional association’s right to transact business as if such right had at all times remained in full force and effect.
(Added to NRS by 1995, 1138; A 2001, 3191; 2003, 20th Special Session, 114; 2005, 2271; 2007, 1336, 2438, 2701; 2013, 897; 2019, 929)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.211 - Definitions.

As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 90.215 to 90.309, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 1987, 2149; A 1989, 160; 1993, 2415; 1995, 1441; 1997, 500; 2003, 3162; 2007, 1337; 2009, 1825; 2021, 246; 2023, 1332)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.220 - "Broker-dealer" defined.

"Broker-dealer" means any person engaged in the business of effecting transactions in securities for the account of others or for the person’s own account. "Broker-dealer" does not include:
1. A sales representative;
2. An issuer, except when effecting transactions other than with respect to its own securities;
3. A depository institution; or
4. Any other person the Administrator by regulation or order designates.
(Added to NRS by 1987, 2149; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.223 - "Commission" defined.

1. "Commission" means:
(a) Any payment of cash, securities or goods for offering to sell or selling a security; or
(b) A promise or commitment to provide any payment of cash, securities or goods in the future for offering to sell or selling a security.
2. The term does not include:
(a) A commission paid to a real estate broker solely for services relating to the sale, purchase, rental or lease of real estate if the commission is commensurate with fees paid in the community for similar services.
(b) Any payment made to an attorney or accountant for any advice or recommendation relating to the purchase, sale or other transfer of securities that is given to a client with whom the attorney or accountant has a professional relationship if the payment and the interest of the attorney or accountant in the transaction or in the issuer or an affiliate of the issuer are disclosed in writing to the client before the sale or transfer of the securities.
(Added to NRS by 1997, 499)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.225 - "Depository institution" defined.

1. "Depository institution" means:
(a) A person that is organized, chartered or holding an authorization certificate under the laws of a state or of the United States which authorizes the person to receive deposits, including a savings, share, certificate or deposit account, and that is supervised and examined for the protection of depositors by an official or agency of a state or the United States; and
(b) A trust company or other institution that is authorized by federal or state law to exercise fiduciary powers of the type a national bank is permitted to exercise under the authority of the comptroller of the currency and is supervised and examined by an official or agency of a state or the United States.
2. "Depository institution" does not include an insurance company or other organization primarily engaged in the insurance business or a Morris Plan bank, industrial loan company, or a similar bank or company unless its deposits are insured by a federal agency.
(Added to NRS by 1987, 2149; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.235 - "Filing" and "file" defined.

1. "Filing" means:
(a) The actual delivery of a record or application to the Administrator or the designee of the Administrator or to the principal office of the Administrator; or
(b) The electronic delivery of a record or application to the Administrator or the designee of the Administrator or to the principal office of the Administrator using a system that has been approved by the Administrator.
2. "File" has a corresponding meaning.
(Added to NRS by 1987, 2150; A 1989, 160; 1997, 495; 2003, 3162)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.240 - "Financial or institutional investor" defined.

"Financial or institutional investor" means any of the following, whether acting for itself or others in a fiduciary capacity other than as an agent:
1. A depository institution;
2. An insurance company;
3. A separate account of an insurance company;
4. An investment company as defined in the Investment Company Act of 1940;
5. An employee pension, profit-sharing, or benefit plan if the plan has total assets in excess of $5,000,000 or its investment decisions are made by a named fiduciary, as defined in the Employee Retirement Income Security Act of 1974, that is either a broker-dealer registered under the Securities Exchange Act of 1934, an investment adviser registered or exempt from registration under the Investment Advisers Act of 1940, a depository institution, or an insurance company; and
6. Any other institutional buyer.
(Added to NRS by 1987, 2150; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.250 - "Investment adviser" defined.

"Investment adviser" means any person who, for compensation, engages in the business of advising others as to the value of securities or as to the advisability of investing in, purchasing or selling securities, or who, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. The term does not include:
1. An employee of an adviser;
2. A depository institution;
3. A lawyer, accountant, engineer or teacher whose performance of investment advisory services is solely incidental to the practice of the person’s profession;
4. A broker-dealer whose performance of investment advisory services is solely incidental to the conduct of business as a broker-dealer and who receives no special compensation for the investment advisory services;
5. A publisher, employee or columnist of a newspaper, news magazine or business or financial publication, or an owner, operator, producer or employee of a cable, radio or television network, station or production facility if, in either case, the financial or business news published or disseminated is made available to the general public and the content does not consist of rendering advice on the basis of the specific investment situation of each client;
6. A person whose advice, analyses or reports relate only to securities exempt under paragraph (a) of subsection 2 of NRS 90.520;
7. A family trust company or licensed family trust company or an employee or agent of a family trust company or licensed family trust company that is engaged in the business of a family trust company or licensed family trust company pursuant to chapter 669A of NRS, and that is exempt from registration as an investment adviser pursuant to the federal Investment Advisers Act of 1940; or
8. Any other person the Administrator by regulation or order designates.
(Added to NRS by 1987, 2150; A 1989, 160; 2011, 1817)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.255 - "Issuer" defined.

"Issuer" means a person who issues or proposes to issue a security, except that:
1. The "issuer" of a collateral trust certificate, voting trust certificate, certificate of deposit for a security or share in an investment company without a board of directors or persons performing similar functions, is the person or persons performing the acts and assuming the duties of depositor or manager pursuant to the provisions of the trust or other agreement or instrument under which the security is issued;
2. The "issuer" of an equipment trust certificate, including a conditional sales contract, or similar security serving the same purpose, is the person to whom the equipment or property is or is to be leased or conditionally sold; and
3. The "issuer" of a fractional undivided interest in an oil, gas or other mineral lease or in payments out of production under such a lease, right or royalty is the owner of an interest in the lease or in payments out of such production, whether whole or fractional, who creates fractional interests for the purpose of sale.
(Added to NRS by 1987, 2151; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.257 - "Nevada certified investor" defined.

1. "Nevada certified investor" means a natural person who is, or a married couple who each are, a resident of this State and who, at the time an offer to sell or sale of a security is made to the person or couple:
(a) Holds an ownership interest of more than 50 percent in a business that has reported a gross revenue of more than $200,000 or 2 1/2 times the median household income, whichever is greater, on each federal income tax return filed for the 2 immediately preceding calendar years; or
(b) Has reported an income on the federal income tax return of the person or couple filed for the immediately preceding calendar year that exceeds the greater of:
(1) One hundred thousand dollars, if the person filed an individual federal income tax return, or $150,000, if the couple jointly filed a federal income tax return; or
(2) The median household income.
2. As used in this section, "median household income" means the median household income in this State, as identified in the most recent data from the American Community Survey published by the Bureau of the Census of the United States Department of Commerce or as determined by the Administrator based on another source of data specified by the Administrator by regulation.
(Added to NRS by 2023, 1332)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.270 - "Price amendment" defined.

"Price amendment" means the amendment to a registration statement filed under the Securities Act of 1933 or, if no amendment is filed, the prospectus or prospectus supplement filed under the Securities Act of 1933, which includes a statement of the offering price, underwriting and selling discounts or commissions, amount of proceeds, conversion rates, call prices and other matters dependent upon the offering price.
(Added to NRS by 1987, 2151; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.275 - "Promoter" defined.

"Promoter" includes:
1. A person who, acting alone or in concert with one or more other persons, takes the entrepreneurial initiative in founding or organizing the business or enterprise of an issuer;
2. An officer or director who owns any securities of an issuer or any person who owns, beneficially or of record, 10 percent or more of any class of securities of the issuer if the officer, director or other person acquires any of those securities within 3 years before the issuer files a registration under this chapter in a transaction which does not possess the indicia of bargaining at arm’s length; and
3. A member of the immediate family of a person within subsection 1 or 2 if the member received the securities in a transaction which does not possess the indicia of bargaining at arm’s length.
(Added to NRS by 1987, 2151; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.278 - "Representative of an investment adviser" defined.

1. "Representative of an investment adviser" means any person employed by or associated with an investment adviser who:
(a) Provides advice concerning securities;
(b) Manages accounts or portfolios of clients;
(c) Determines the advice concerning securities that is offered to clients;
(d) Solicits for the sale of investment advice, unless the person is a sales representative licensed pursuant to this chapter;
(e) Sells, offers to sell or negotiates for the sale of investment advice; or
(f) Supervises employees who engage in the activities described in paragraphs (a) to (e), inclusive.
2. The term does not include:
(a) A broker-dealer;
(b) An investment adviser; and
(c) A person employed by or associated with an investment adviser who provides clerical or administrative services.
(Added to NRS by 1995, 1441)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.280 - "Sale" and "sell" defined.

"Sale" includes every contract of sale, contract to sell, or other disposition, of a security or interest in a security for value. "Sell" has a corresponding meaning. In this context:
1. "Offer to sell" includes every attempt or offer to dispose of, or solicitation of an offer to purchase, a security or interest in a security for value.
2. "Offer to purchase" includes every attempt or offer to obtain, or solicitation of an offer to sell, a security or interest in a security for value, but the term does not include a transaction that is subject to section 14(d) of the Securities Exchange Act of 1934.
3. A security given or delivered with, or as a bonus on account of, a purchase of securities or other item is considered to constitute a part of the subject of the purchase and to have been offered for sale and sold for value.
4. A gift of assessable stock is deemed to involve an offer and sale.
5. A sale or offer of a warrant or right to purchase or subscribe to another security of the same or another issuer, or a sale or offer of a security that gives the holder a present or future right or privilege to convert into another security of the same of another issuer, is deemed to include an offer of the other security.
6. The terms defined in this section do not include:
(a) The creation of a security interest or a loan;
(b) A stock dividend, whether the corporation distributing the dividend is the issuer of the stock or not, if:
(1) The distribution of the dividend is not for the purpose of evading the provisions of this chapter governing the registration of securities; and
(2) Nothing of value is given by the stockholders for the dividend other than the surrender of a right to a cash or property dividend and each stockholder may elect to take the dividend in cash, property or stock; or
(c) An act incident to a judicially approved reorganization in which a security is issued in exchange for one or more outstanding securities, claims or property interests, or partly in exchange and partly for cash.
(Added to NRS by 1987, 2152; A 1989, 160; 1991, 593)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.285 - "Sales representative" defined.

"Sales representative" means a natural person other than a broker-dealer, authorized to act and acting for a broker-dealer or issuer effecting or attempting to effect purchases or sales of securities. A partner, officer or director of a broker-dealer or issuer, or a person occupying a similar status or performing similar functions, is a sales representative only if he or she otherwise comes within the definition.
(Added to NRS by 1987, 2152; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.290 - "Securities Act of 1933," "Securities Exchange Act of 1934," "Public Utility Holding Company Act of 1935," "Investment Company Act of 1940," "Investment Advisers Act of 1940," "Employees Retirement Income Security Act of 1974," "National Housing Act" and "Commodity Exchange Act" defined.

"Securities Act of 1933," "Securities Exchange Act of 1934," "Public Utility Holding Company Act of 1935," "Investment Company Act of 1940," "Investment Advisers Act of 1940," "Employees Retirement Income Security Act of 1974," "National Housing Act" and "Commodity Exchange Act" mean the federal statutes of those names as amended.
(Added to NRS by 1987, 2152; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.292 - "Securities exchange" defined.

"Securities exchange" means any organization, association or group of persons, incorporated or unincorporated, located within this State which constitutes, maintains or provides a marketplace, facilities or electronic communications equipment for bringing together purchasers and sellers of securities or for otherwise performing with respect to securities the functions commonly performed by a stock exchange as that term is generally understood. The term includes the marketplace, facilities and electronic communications equipment used by such an exchange.
(Added to NRS by 1993, 2414)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.295 - "Security" defined.

"Security" means a note, stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in a profit-sharing agreement, a limited partnership interest, an interest in a limited-liability company, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, viatical settlement investment, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in an oil, gas or other mineral lease or in payments out of production of such a lease, right or royalty, a put, call, straddle or option on a security, certificate of deposit or group or index of securities including any interest therein or based on the value of any of the foregoing, or, in general, any interest or instrument commonly known as a security or any certificate of interest or participation in, temporary or interim certificate for, receipt for, whole or partial guarantee of or warrant or right to subscribe to or purchase any of the foregoing. The term does not include:
1. An insurance or endowment policy or annuity contract under which an insurance company promises to pay a fixed sum of money either in a lump sum or periodically for life or some other specified period; or
2. An interest in a contributory or noncontributory pension or welfare plan subject to the Employee Retirement Income Security Act of 1974.
(Added to NRS by 1987, 2152; A 1989, 160; 1995, 1442; 2009, 1825)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.300 - "Self-regulatory organization" defined.

"Self-regulatory organization" means a national securities exchange registered under section 6 of the Securities Exchange Act of 1934, a national association of brokers and dealers registered under section 15A of the Securities Exchange Act of 1934, a clearing agency registered under section 17A of the Securities Exchange Act of 1934, the Municipal Securities Rulemaking Board established under section 15B(b)(1) of the Securities Exchange Act of 1934 or section 21 of the Commodity Exchange Act.
(Added to NRS by 1987, 2153; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.307 - "Transfer agent" defined.

"Transfer agent" means any person who, for a fee, performs the service of registering the transfer of securities that do not trade on the New York Stock Exchange or the American Stock Exchange or in the over-the-counter market, if the price quotations for the over-the-counter stock are quoted by the National Association of Securities Dealers Automated Quotations System (NASDAQ).
(Added to NRS by 2007, 1337)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.308 - "Viatical settlement investment" defined.

"Viatical settlement investment" means the contractual right to receive a specified portion of the death benefit or ownership of a life insurance policy or certificate in exchange for consideration that is less than the dollar amount of the expected death benefit of the life insurance policy or certificate. The term does not include:
1. A transaction between a viator and a provider of viatical settlements;
2. A transfer of ownership or beneficial interest in a life insurance policy from a provider of viatical settlements to another provider of viatical settlements, or to a legal entity formed solely for the purpose of holding ownership or beneficial interest in a life insurance policy or policies;
3. The bona fide assignment of a life insurance policy to a bank, savings bank, savings and loan association, credit union or other licensed lending institution as collateral for a loan; or
4. The exercise of accelerated benefits pursuant to the terms of a life insurance policy issued in accordance with title 57 of NRS.
(Added to NRS by 2009, 1824)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.310 - Licensing of broker-dealers, sales representatives and transfer agents.

1. It is unlawful for any person to transact business in this State as a broker-dealer or sales representative unless licensed or exempt from licensing under this chapter.
2. It is unlawful for any issuer or any broker-dealer licensed under this chapter to employ or contract with a person as a sales representative within this State unless the sales representative is licensed or exempt from licensing under this chapter.
3. It is unlawful for any person to transact business in this State as a transfer agent unless licensed or exempt from licensing under this chapter.
4. It is unlawful for a broker-dealer or an issuer engaged in offering securities in this State to employ or contract with, in connection with any of the broker-dealer’s or issuer’s activities in this State, any person who is suspended or barred from association with a broker-dealer or investment adviser by the Administrator. A broker-dealer or issuer does not violate this subsection unless the broker-dealer or issuer knows or in the exercise of reasonable care should know of the suspension or bar. Upon request from a broker-dealer or issuer, and for good cause shown, the Administrator by order may waive the prohibition of this subsection with respect to a particular person who has been suspended or barred.
5. It is unlawful for any person licensed pursuant to this chapter to share, divide or apportion fees with a person who is effecting or attempting to effect purchases or sales of securities and is not licensed pursuant to the provisions of this chapter.
(Added to NRS by 1987, 2153; A 1989, 151; 1995, 1442; 2007, 1337)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.320 - Exempt broker-dealers and sales representatives.

1. The following broker-dealers are exempt from licensing under NRS 90.310:
(a) A broker-dealer who is registered or, is not required to be registered under the Securities Exchange Act of 1934 and who has no place of business in this State if:
(1) The transactions effected by the broker-dealer in this State are exclusively with the issuer of the securities involved in the transactions, other broker-dealers licensed or exempt under this chapter, and financial or institutional investors;
(2) The broker-dealer is licensed under the securities laws of a state in which the broker-dealer maintains a place of business and the broker-dealer offers and sells in this State to a person who is an existing customer of the broker-dealer and whose principal place of residence is not in this State; or
(3) The broker-dealer is licensed under the securities laws of a state in which the broker-dealer maintains a place of business and during any 12 consecutive months the broker-dealer does not effect transactions with more than five persons in this State in addition to the transactions with the issuers of the securities involved in the transactions, financial or institutional investors, or broker-dealers, whether or not the offeror or an offeree is then present in this State.
(b) Other broker-dealers the Administrator by regulation or order exempts.
2. The following sales representatives are exempt from licensing under NRS 90.310:
(a) A sales representative acting for a broker-dealer exempt under subsection 1;
(b) A sales representative acting for an issuer in effecting transactions in a security exempted by paragraphs (a), (b), (c), (d), (k), (l) or (m) of subsection 2 of NRS 90.520;
(c) A sales representative acting for an issuer effecting offers or sales of securities in transactions exempted by NRS 90.530;
(d) A sales representative acting for an issuer effecting transactions with employees, partners, officers or directors of the issuer, a parent or a wholly owned subsidiary of the issuer, if no commission or other similar compensation is paid or given directly or indirectly to the sales representative for soliciting an employee, partner, officer or director in this State; and
(e) Other sales representatives the Administrator by regulation or order exempts.
(Added to NRS by 1987, 2153; A 1989, 151; 1991, 189)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.330 - Licensing of investment advisers and representatives of investment advisers.

1. It is unlawful for any person to transact business in this State as an investment adviser or as a representative of an investment adviser unless licensed or exempt from licensing under this chapter.
2. It is unlawful for an investment adviser to employ, to engage in any activity in this State, any person who is suspended or barred from association with a broker-dealer or investment adviser by the Administrator. An investment adviser does not violate this subsection unless the investment adviser knows or in the exercise of reasonable care should know of the suspension or bar. Upon request from an investment adviser and for good cause shown, the Administrator, by order, may waive the prohibition of this subsection with respect to a person suspended or barred.
(Added to NRS by 1987, 2154; A 1989, 160; 1995, 1442)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.340 - Exempt investment advisers and representatives of investment advisers.

1. The following persons are exempt from licensing under NRS 90.330:
(a) Except as otherwise provided in subsection 2, an investment adviser who is registered or is not required to be registered as an investment adviser under the Investment Advisers Act of 1940 if:
(1) Its only clients in this State are other investment advisers, broker-dealers or financial or institutional investors;
(2) The investment adviser has no place of business in this State and directs business communications in this State to a person who is an existing client of the investment adviser and whose principal place of residence is not in this State; or
(3) The investment adviser has no place of business in this State and during any 12 consecutive months it does not direct business communications in this State to more than five present or prospective clients other than those specified in subparagraph (1), whether or not the person or client to whom the communication is directed is present in this State;
(b) A representative of an investment adviser who is employed by an investment adviser who is exempt from licensing pursuant to paragraph (a) or NRS 90.345;
(c) A sales representative licensed pursuant to NRS 90.310 who:
(1) Has passed the following examinations administered by the Financial Industry Regulatory Authority:
(I) The Uniform Investment Adviser Law Examination, designated as the Series 65 examination; or
(II) The Uniform Combined State Law Examination designated as the Series 66 examination and the General Securities Registered Representative Examination, designated as the Series 7 examination; or
(2) On January 1, 1996, has been continuously licensed in this State as a sales representative for 5 years or more; and
(d) Other investment advisers and representatives of investment advisers the Administrator by regulation or order exempts.
2. Regardless of whether an investment adviser qualifies for an exemption pursuant to paragraph (a) of subsection 1, if the investment adviser advises one or more qualifying private funds, the investment adviser must additionally satisfy all of the requirements set forth in NRS 90.345 in order to qualify for an exemption from licensing under NRS 90.330.
3. The Administrator may, by order or rule, waive the examinations required by subparagraph (1) of paragraph (c) of subsection 1 for an applicant or a class of applicants if the Administrator determines that the examination is not necessary for the protection of investors because of the training and experience of the applicant or class of applicants.
(Added to NRS by 1987, 2155; A 1989, 160; 1995, 1443; 2009, 2556; 2021, 246)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.360 - Licensing fees.

1. An applicant for licensing shall pay a nonrefundable licensing fee, due annually in the following amounts:
(a) Broker-dealer, $300.
(b) Sales representative, $125.
(c) Investment adviser, $300.
(d) Representative of an investment adviser, $110.
2. The Administrator by regulation shall require licensing of branch offices. A broker-dealer who desires to obtain a branch office license must, in addition to complying with any other requirements established by the Administrator for such a license, submit an application for the license and pay a fee of $100. If any change occurs in the information set forth in an application made pursuant to this subsection, the applicant shall, within 30 days after the change, file an amendment to the application and pay a fee of $50. A license obtained pursuant to this subsection expires on December 31 of each year. The license must be renewed annually on or before December 31 by paying a fee of $100.
3. For the purpose of this section, a "branch office" means any place of business in this State other than the principal office in the state of the broker-dealer, from which one or more sales representatives transact business.
(Added to NRS by 1987, 2155; A 1989, 160; 1991, 594; 1995, 1444; 2003, 20th Special Session, 24, 114; 2010, 26th Special Session, 76)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.370 - Examinations: Requirement for licensure; administration; waiver.

1. Except as otherwise provided in NRS 90.372, the Administrator by regulation or order may require an examination of an applicant applying for licensing under this chapter, a class of applicants, or a class of persons who will represent an investment adviser in performing an act that requires licensing as an investment adviser in this State.
2. Any examination required must be administered by the Administrator or the designee of the Administrator. Examinations may be oral or written, or both, and may differ for each class of applicants.
3. The Administrator by order may waive any requirement for examination imposed pursuant to subsection 1 as to any person or class of persons if the Administrator determines that an examination is not necessary for the protection of investors by reason of the training and experience of the applicant or class of applicants.
(Added to NRS by 1987, 2156; A 1989, 160; 1997, 500)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.372 - Eligibility of officer or director of issuer for waiver from examination for licensure as sales representative or broker-dealer.

1. The Administrator shall grant to a bona fide officer or director of an issuer a waiver from the examination required for licensure as a sales representative or broker-dealer if:
(a) The securities of the issuer:
(1) Are registered under the Securities Exchange Act of 1934; or
(2) Comply with the requirements of Regulation D of the Securities and Exchange Commission, 17 C.F.R. §§ 230.501 to 230.506, inclusive, except for 17 C.F.R. § 230.504, and are exempt from registration by regulation of the Administrator;
(b) The officer or director does not receive a commission or other compensation for the sale of the issuer’s securities; and
(c) The officer or director files with the Administrator an affidavit which states that the officer or director:
(1) Is an officer or director of the issuer;
(2) Will not be receiving a commission or other compensation for the sale of the issuer’s securities;
(3) Understands that the waiver applies only to the sale of the issuer’s securities; and
(4) Agrees to provide to prospective purchasers of the issuer’s securities such pamphlets, circulars, literature or other information as may be required by regulation or order of the Administrator.
2. If the officer or director sells or offers to sell any securities other than the securities of the issuer, the officer or director must pass the examination for licensure as a sales representative or broker-dealer unless the examination is otherwise waived by the Administrator pursuant to NRS 90.370.
(Added to NRS by 1997, 499)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.375 - Application for issuance or renewal of license: Statement regarding obligation of child support required; grounds for denial of license; duty of Administrator. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

1. An applicant for the issuance or renewal of a license as a broker-dealer, sales representative, investment adviser, representative of an investment adviser or transfer agent shall submit to the Administrator the statement prescribed by the Division of Welfare and Supportive Services of the Department of Health and Human Services pursuant to NRS 425.520. The statement must be completed and signed by the applicant.
2. The Administrator shall include the statement required pursuant to subsection 1 in:
(a) The application or any other forms that must be submitted for the issuance or renewal of the license; or
(b) A separate form prescribed by the Administrator.
3. A license as a broker-dealer, sales representative, investment adviser, representative of an investment adviser or transfer agent may not be issued or renewed by the Administrator if the applicant:
(a) Fails to submit the statement required pursuant to subsection 1; or
(b) Indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order.
4. If an applicant indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order, the Administrator shall advise the applicant to contact the district attorney or other public agency enforcing the order to determine the actions that the applicant may take to satisfy the arrearage.
(Added to NRS by 1997, 2035; A 2007, 1338)