reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.377 - Application for renewal of license to include information relating to state business license; denial of renewal for unpaid debt assigned to State Controller for collection.

1. In addition to any other requirements set forth in this chapter, an applicant for the renewal of a license as a broker-dealer, sales representative, investment adviser, representative of an investment adviser or transfer agent must indicate in the application submitted to the Administrator whether the applicant has a state business license. If the applicant has a state business license, the applicant must include in the application the business identification number assigned by the Secretary of State pursuant to NRS 225.082.
2. A license as a broker-dealer, sales representative, investment adviser, representative of an investment adviser or transfer agent may not be renewed by the Administrator if:
(a) The applicant fails to submit the information required by subsection 1; or
(b) The State Controller has informed the Administrator pursuant to subsection 5 of NRS 353C.1965 that the applicant owes a debt to an agency that has been assigned to the State Controller for collection and the applicant has not:
(1) Satisfied the debt;
(2) Entered into an agreement for the payment of the debt pursuant to NRS 353C.130; or
(3) Demonstrated that the debt is not valid.
3. As used in this section:
(a) "Agency" has the meaning ascribed to it in NRS 353C.020.
(b) "Debt" has the meaning ascribed to it in NRS 353C.040.
(Added to NRS by 2013, 2722)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.390 - Requirements after licensing.

1. The Administrator by regulation may require that:
(a) A licensed broker-dealer who is not registered under the Securities Exchange Act of 1934 maintain minimum net capital and a prescribed ratio between net capital and aggregate indebtedness, which may vary with type or class of broker-dealer; or
(b) A licensed investment adviser who is not registered under the Investment Advisers Act of 1940 maintain a minimum net worth.
2. If a licensed broker-dealer or investment adviser knows, or has reasonable cause to know, that a requirement imposed on it under this section is not being met, the broker-dealer or investment adviser shall promptly notify the Administrator of its current financial condition.
3. The Administrator by regulation may require a fidelity bond from a broker-dealer who is not registered under the Securities Exchange Act of 1934.
4. A licensed broker-dealer or investment adviser shall file financial and other reports that the Administrator determines by regulation or order are necessary, but filing a copy of the financial reports filed under the Securities Exchange Act of 1934, in the case of a broker-dealer, or the Investment Advisers Act of 1940, in the case of an investment adviser, satisfies the requirements regarding the filing of financial reports pursuant to this subsection.
5. A licensed broker-dealer, sales representative, investment adviser or representative of an investment adviser shall make and maintain records that the Administrator determines by regulation are necessary and appropriate, but compliance with the recordkeeping requirements of the Securities Exchange Act of 1934, in the case of a broker-dealer, or the Investment Advisers Act of 1940, in the case of an investment adviser, satisfies the requirements of this subsection.
6. Required records may be maintained in any form of data storage if they are readily accessible to the Administrator. Required records must be preserved for 5 years unless the Administrator by regulation specifies a different period for a particular type or class of records.
7. If the information contained in a record filed with the Administrator as part of the application for licensing or under the section, except information the Administrator by regulation or order excludes, is or becomes inaccurate or incomplete in a material respect, the licensed person shall promptly file correcting information, unless notification of termination has been given pursuant to subsection 5 of NRS 90.380.
(Added to NRS by 1987, 2156; A 1989, 160; 1995, 1445; 2003, 3162)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.400 - Licensing of successor firms.

1. A licensed broker-dealer or investment adviser may file an application for licensing of a successor, whether or not the successor is then in existence, if the fee the Administrator prescribes for the application is submitted with the application.
2. If a broker-dealer or investment adviser succeeds to and continues the business of a licensed broker-dealer or investment adviser and the successor files an application for licensing within 30 days after the succession, the license of the predecessor remains effective as the license of the successor for 60 days after the succession.
3. Licensing of each licensed sales representative of the broker-dealer or licensed representative of the investment adviser filing an application pursuant to subsection 1 or 2 continues without a separate filing or fee upon the licensing of the successor.
(Added to NRS by 1987, 2157; A 1989, 160; 1995, 1446)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.410 - Power of inspection.

1. The Administrator, without previous notice, may examine in a manner reasonable under the circumstances the records, within or without this State, of a licensed broker-dealer, sales representative, investment adviser or representative of an investment adviser to determine compliance with this chapter. Licensed broker-dealers, sales representatives, investment advisers and representatives of investment advisers shall make their records available to the Administrator in legible form.
2. The Administrator, without previous notice, may examine, in a manner reasonable under the circumstances and as the Administrator considers necessary or appropriate in the public interest and for the protection of investors, the records, within or without this State, of any person who would otherwise be required to be licensed pursuant to NRS 90.310 or 90.330. Such persons shall make their records available to the Administrator in legible form.
3. Except as otherwise provided in subsection 4, the Administrator may copy records or require a licensed person to copy records and provide the copies to the Administrator to the extent and in a manner reasonable under the circumstances.
4. The Administrator may inspect and copy records or require a transfer agent to copy records and provide the copies to the Administrator to the extent such records relate to information concerning principals, corporate officers or stockholders of any publicly traded company based in this State.
5. The Administrator by regulation may impose a reasonable fee for the expense of conducting an examination under this section.
(Added to NRS by 1987, 2157; A 1989, 160; 1995, 1446; 2007, 1341; 2009, 2558)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.415 - Fee for inspection of records.

1. For any inspection of records conducted pursuant to NRS 90.410, the Administrator shall impose a fee of not more than:
(a) One thousand dollars for an inspection within this State;
(b) Five thousand dollars for an inspection in which any part of the inspection occurs outside this State; or
(c) The actual cost to the Division of performing the inspection,
whichever is less.
2. The fee must be paid within 60 days after the receipt of a request for payment from the Administrator.
(Added to NRS by 2003, 20th Special Session, 24, 25, 26)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.430 - Denial, suspension, revocation, fine or condition on grounds of lack of qualification.

The Administrator’s determination that an applicant or licensed person lacks qualification under NRS 90.420 is limited by the following provisions:
1. The Administrator may not enter an order against a broker-dealer because of the lack of qualification of:
(a) A person other than the broker-dealer if the broker-dealer is a natural person; or
(b) A sales representative of the broker-dealer.
2. The Administrator may not enter an order against an investment adviser because of the lack of qualification of:
(a) A person other than the investment adviser, if the investment adviser is a natural person; or
(b) Any representative of an investment adviser or other person who represents the investment adviser in doing an act that makes the person an investment adviser.
3. The Administrator may not enter an order solely on the basis of lack of experience if the applicant or registrant is qualified by training or knowledge, or both.
4. The Administrator shall consider that:
(a) A sales representative who will work under the supervision of a licensed broker-dealer need not have the same qualifications as a broker-dealer; and
(b) A representative of an investment adviser who will work under the supervision of a licensed investment adviser need not have the same qualifications as an investment adviser.
5. The Administrator shall consider that an investment adviser is not necessarily qualified solely on the basis of experience as a broker-dealer or sales representative.
(Added to NRS by 1987, 2160; A 1989, 160; 1995, 1449)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.435 - Mandatory suspension of license for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of license. [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. If the Administrator receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a person who is the holder of a license as a broker-dealer, sales representative, investment adviser, representative of an investment adviser or transfer agent, the Administrator shall deem the license issued to that person to be suspended at the end of the 30th day after the date on which the court order was issued unless the Administrator receives a letter issued to the holder of the license by the district attorney or other public agency pursuant to NRS 425.550 stating that the holder of the license has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.
2. The Administrator shall reinstate a license as a broker-dealer, sales representative, investment adviser, representative of an investment adviser or transfer agent that has been suspended by a district court pursuant to NRS 425.540 if the Administrator receives a letter issued by the district attorney or other public agency pursuant to NRS 425.550 to the person whose license was suspended stating that the person whose license was suspended has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.
(Added to NRS by 1997, 2035; A 2007, 1343)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.440 - Withdrawal.

1. An application for a license may be withdrawn by the applicant without prejudice before the license becomes effective.
2. Withdrawal from licensing as a broker-dealer, sales representative, investment adviser or representative of an investment adviser becomes effective 30 days after receipt by the Administrator of an application to withdraw or within such shorter period as the Administrator determines, unless:
(a) A proceeding to revoke or suspend is pending when the application is filed;
(b) A proceeding to revoke or suspend or to impose conditions upon the withdrawal is instituted within 30 days after the application is filed; or
(c) Additional information is requested by the Administrator regarding the application.
3. If a proceeding is pending or instituted under subsection 2, withdrawal becomes effective at the time and upon the conditions the Administrator by order determines. If additional information is requested, withdrawal is effective 30 days after the additional information is filed. Although no proceeding is pending or instituted and withdrawal becomes effective, the Administrator may institute a proceeding pursuant to NRS 90.420 within 2 years after withdrawal became effective and enter an order as of the last date on which licensing was effective.
(Added to NRS by 1987, 2160; A 1989, 160; 1995, 1449; 2001, 1157)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.450 - Custody of client’s securities and money.

1. Unless prohibited by regulation or order of the Administrator, an investment adviser registered under the Investment Advisers Act of 1940 may take or retain custody of securities or money of a client.
2. To the extent permitted by regulation or order of the Administrator, an investment adviser exempt from registration under the Investment Advisers Act of 1940, but licensed as an investment adviser under this chapter, may take or retain custody of securities or money of a client.
(Added to NRS by 1987, 2160; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.453 - Registration required; exemption; regulations; investigation of persons associated with applicant; denial, suspension or revocation.

1. Except as otherwise provided in subsection 2, a person shall not operate a securities exchange in this State unless it has been registered with the Securities Division.
2. A securities exchange which is registered with the United States Securities and Exchange Commission is exempt from the requirements for registration set forth in this section.
3. The Administrator shall adopt regulations necessary to carry out the provisions of this section, including regulations prescribing:
(a) Requirements for the registration and operation of a securities exchange;
(b) The fees for the registration of a securities exchange; and
(c) The requirements for bonding and minimum capitalization of a securities exchange.
4. The Administrator shall investigate the qualifications of each person associated with an applicant for registration as a securities exchange. The applicant shall pay the cost of the investigation.
5. The Administrator may deny, suspend or revoke the registration of a securities exchange, or place conditions, limitations or restrictions on the registration, if the Administrator determines that such action is in the public interest and any of the provisions of subsection 1 of NRS 90.420 are applicable to a person associated with the securities exchange.
(Added to NRS by 1993, 2414; A 1997, 503)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.4535 - Description of person "associated with" securities exchange or applicant for registration.

A person is "associated with" a securities exchange or an applicant for registration as such if the person is:
1. An officer, director, shareholder, employee or other agent, client, customer or member of the securities exchange or applicant;
2. A partner, officer or director of a member of the securities exchange; or
3. An employee of a member of the securities exchange who is licensed pursuant to this chapter or registered pursuant to the Securities Exchange Act of 1934.
(Added to NRS by 1997, 503)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.456 - Fee for transactions.

1. The Administrator may charge a fee not to exceed 0.5 percent of the total value of each transaction involving the purchase, sale or other transfer of a security conducted by a securities exchange located in this State.
2. The Administrator may adopt by regulation or order, and shall cause to be published, a table of fees based upon the direct cost of regulating the securities exchange.
(Added to NRS by 1993, 2415; A 1997, 504; 2003, 20th Special Session, 115)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.457 - Use of unregistered exchange by broker-dealer or representative prohibited.

A broker-dealer or a representative of a broker-dealer shall not use a securities exchange to effect or report any transaction concerning a security unless the securities exchange is registered with the Securities Division or is exempt from the requirements for registration pursuant to NRS 90.453.
(Added to NRS by 1993, 2415)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.465 - Expeditious processing of notice of claim of exemption from registration requirement.

1. A person who files a notice of claim of exemption from the registration requirements of NRS 90.460 may request expeditious processing of the claim by paying an additional fee per filing for the expeditious processing.
2. For a fee of $100 per filing, the Administrator shall issue a notification of acceptance within 24 hours after receipt of the filing.
3. For a fee of $200 per filing, the Administrator shall issue a notification of acceptance on the same date on which the filing is received, if the filing is received by the Administrator before noon Pacific Standard Time.
(Added to NRS by 2003, 20th Special Session, 24, 25, 26)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.533 - Additional requirements for certain transactions.

The Administrator may adopt regulations that set forth additional requirements for transactions involving an offer to sell or sale of a security to a Nevada certified investor that must be met for the transaction to qualify for an exemption pursuant to subsection 22 of NRS 90.530. Such regulations may include, without limitation, provisions establishing minimum qualifications for an issuer who engages in such a transaction and additional requirements concerning the process by which such an issuer shall submit to the Administrator and make available to a Nevada certified investor the information required by subsection 22 of NRS 90.530.
(Added to NRS by 2023, 1332)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.540 - Additional exemptions; fee.

1. The Administrator by regulation or order may:
(a) Exempt any other security or transaction or class of securities or transactions from NRS 90.460 and 90.560.
(b) Adopt a transactional exemption for limited offerings that will further the objectives of compatibility with the exemptions from securities registration authorized by the Securities Act of 1933 and uniformity among the states.
(c) Require the filing of a notice for an exemption adopted pursuant to this section.
2. Except as otherwise provided in NRS 90.565 and 90.567, the Administrator shall require the payment of a fee of not less than $300 and not more than $500 for an exemption adopted pursuant to this section.
(Added to NRS by 1987, 2177; A 1989, 160; 1993, 1227; 1997, 495; 2003, 20th Special Session, 25, 124)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.550 - Revocation of exemptions.

1. The Administrator by order may deny or revoke an exemption specified in NRS 90.520 or 90.530, with respect to a specific security or transaction. An order under this subsection is not retroactive.
2. A person does not violate NRS 90.460 or 90.560 by reason of an offer to sell or sale effected after the entry of an order under this section if the person did not know, and in the exercise of reasonable care could not have known, of the order.
(Added to NRS by 1987, 2177; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.560 - Filing of sales and advertising literature.

The Administrator by regulation or order may require the filing of any prospectus, pamphlet, circular, form letter, advertisement or other sales literature or advertising communication addressed or intended for distribution to prospective investors, including clients or prospective clients of an investment adviser unless the security or transaction is exempt under NRS 90.520 or 90.530 or the investment adviser is exempt under NRS 90.340 or 90.345.
(Added to NRS by 1987, 2177; A 1989, 160; 2021, 248)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.565 - Filing of notice before initial offering of securities.

An offering of securities is exempt from the provisions of NRS 90.460 and 90.560 if:
1. The securities are set forth in subparagraph (2) of paragraph (b) of section 18 of the Securities Act of 1933, 15 U.S.C. § 77r(b)(2); and
2. Before the initial offering in this State of the securities:
(a) A copy of the issuer’s federal registration statement is filed with the Securities and Exchange Commission; or
(b) A notice on Form NF or Form N-9, as prescribed by the Administrator, is filed with the Administrator with a fee of $500.
(Added to NRS by 2003, 20th Special Session, 24, 25, 26)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.567 - Filing of notice after first sale of securities.

1. If, pursuant to NRS 90.540, the Administrator by regulation or order exempts from the provisions of NRS 90.460 and 90.560 an offer to sell or the sale of a security by an issuer to persons who are or the issuer believes are accredited investors, the issuer shall, within 15 days after the first sale in this State, file with the Administrator a fee of $500.
2. As used in this section, "accredited investor" has the meaning ascribed to it in 17 C.F.R. § 230.501(a).
(Added to NRS by 2003, 20th Special Session, 24, 25, 26)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.570 - Offer, sale and purchase.

In connection with the offer to sell, sale, offer to purchase or purchase of a security, a person shall not, directly or indirectly:
1. Employ any device, scheme or artifice to defraud;
2. Make an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made not misleading in the light of the circumstances under which they are made; or
3. Engage in an act, practice or course of business which operates or would operate as a fraud or deceit upon a person.
(Added to NRS by 1987, 2178; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.575 - Fiduciary duty of broker-dealers, sales representatives, investment advisers and representatives of investment advisers; regulations.

1. A broker-dealer, sales representative, investment adviser or representative of an investment adviser shall not violate the fiduciary duty toward a client imposed by NRS 628A.020.
2. The Administrator may by regulation:
(a) Define or exclude an act, practice or course of business of a broker-dealer, sales representative, investment adviser or representative of an investment adviser as a violation of the fiduciary duty toward a client imposed by NRS 628A.020; and
(b) Prescribe means reasonably designed to prevent broker-dealers, sales representatives, investment advisers and representatives of investment advisers from engaging in acts, practices and courses of business defined as a violation of such fiduciary duty.
(Added to NRS by 2017, 1797)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.580 - Manipulation of market.

1. Without limiting the general applicability of NRS 90.570, a person shall not:
(a) Quote a fictitious price with respect to a security;
(b) Effect a transaction in a security which involves no change in the beneficial ownership of the security for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;
(c) Enter an order for the purchase of a security with the knowledge that an order of substantially the same size and at substantially the same time and price for the sale of the security has been or will be entered by or for the same or affiliated person for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;
(d) Enter an order for the sale of a security with knowledge that an order of substantially the same size and at substantially the same time and price for the purchase of the security has been or will be entered by or for the same or affiliated person for the purpose of creating a false or misleading appearance of active trading in a security or with respect to the market for the security;
(e) Employ any other deceptive or fraudulent device, scheme or artifice to manipulate the market in a security; or
(f) Put off, circulate or publish any false or misleading writing, statement or intelligence regarding a security that is publicly traded.
2. Transactions effected in compliance with, or conduct which does not violate, the applicable provisions of the Securities Exchange Act of 1934 and the rules and regulations of the Securities and Exchange Commission thereunder are not violations of subsection 1.
(Added to NRS by 1987, 2178; A 1989, 159; 2013, 176)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.590 - Prohibited transactions by investment advisers and representatives of investment advisers.

It is unlawful for an investment adviser, representative of an investment adviser or other person who represents an investment adviser in performing an act that requires licensing as an investment adviser under this chapter, directly or indirectly, to:
1. Employ a device, scheme or artifice to defraud a client; or
2. Engage in an act, practice or course of business that operates or would operate as a fraud or deceit upon a client.
(Added to NRS by 1987, 2178; A 1989, 160; 1995, 1450)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.600 - Misleading filings.

It is unlawful for a person to make or cause to be made, in a record filed with the Administrator or in a proceeding under this chapter a statement that the person knows or has reasonable grounds to know is, at the time and in the light of the circumstances under which it is made, false or misleading in a material respect.
(Added to NRS by 1987, 2178; A 1989, 160; 2003, 3175)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.605 - False or fraudulent representations in investigations, proceedings or prosecutions; offering false evidence; destroying evidence.

In any investigation, proceeding or prosecution with respect to any violation of a provision of this chapter, a regulation adopted pursuant to this chapter, an order denying, suspending or revoking the effectiveness of registration or an order to cease and desist issued by the Administrator, a person shall not willfully:
1. Make any materially false, fictitious or fraudulent statement or representation;
2. Offer or procure to be offered into evidence, as genuine, any book, paper, document or record if the person knows that the book, paper, document or record has been forged or fraudulently altered; or
3. Destroy, alter, erase, obliterate or conceal, or cause to be destroyed, altered, erased, obliterated or concealed, any book, paper, document or record, with the intent to:
(a) Conceal any violation of any provision of this chapter, a regulation adopted pursuant to this chapter, an order denying, suspending or revoking the effectiveness of registration or an order to cease and desist issued by the Administrator;
(b) Protect or conceal the identity of any person who has violated any provision of this chapter, a regulation adopted pursuant to this chapter, an order denying, suspending or revoking the effectiveness of registration or an order to cease and desist issued by the Administrator; or
(c) Delay or hinder the investigation or prosecution of any person for any violation of any provision of this chapter, a regulation adopted pursuant to this chapter, an order denying, suspending or revoking the effectiveness of registration or an order to cease and desist issued by the Administrator.
(Added to NRS by 2003, 20th Special Session, 272; A 2013, 176)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.610 - Unlawful representation concerning licensing, registration or exemption.

1. Neither the fact that an application for licensing or a statement has been filed under this chapter, nor the fact that a person is licensed or a security is registered under this chapter constitutes a finding by the Administrator that any record filed under this chapter is true, complete and not misleading. Neither of those facts nor the fact that an exemption or exception is available for a security or a transaction means that the Administrator has passed upon the merits or qualifications of, or recommended or given approval to, any person, security or transaction.
2. It is unlawful to make, or cause to be made, to a purchaser, customer or client a representation inconsistent with subsection 1.
(Added to NRS by 1987, 2179; A 1989, 160; 2003, 3175)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.611 - Definitions.

As used in NRS 90.611 to 90.6145, inclusive, unless the context otherwise requires, the words and terms defined in NRS 90.6115 to 90.6135, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 2015, 2020)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.614 - Duty of broker-dealers and investment advisers to provide training; reporting to designated reporter.

1. Each broker-dealer and investment adviser shall provide training concerning the identification and reporting of the suspected exploitation of an older person or vulnerable person to each sales representative, representative of the investment adviser and officer and employee of the broker-dealer or investment adviser who may:
(a) As part of his or her regular duties for the broker-dealer or investment adviser, come into direct contact with an older person or vulnerable person;
(b) Review or approve the financial documents, records or transactions of an older person or vulnerable person in connection with the offer, sale or purchase of securities; or
(c) Offer advice as to the value or advisability of investing in, purchasing or selling securities to an older person or vulnerable person.
2. The training required pursuant to subsection 1:
(a) Must be provided as soon as reasonably practicable, but not later than 6 months after the sales representative, representative of the investment adviser or officer or employee is employed by the broker-dealer or investment adviser; and
(b) May be part of any existing continuing education or training program required to be completed by the sales representative, representative of the investment adviser or officer or employee of the broker-dealer or investment adviser.
3. The training required pursuant to subsection 1 must include, without limitation:
(a) An explanation of the conduct which constitutes exploitation of an older person or vulnerable person;
(b) The manner in which exploitation of an older person or vulnerable person may be recognized;
(c) Information concerning the manner in which reports of exploitation of an older person or vulnerable person are investigated; and
(d) Instruction concerning when and how to report known or suspected exploitation of an older person or vulnerable person.
4. A sales representative, representative of an investment adviser or officer or employee of a broker-dealer or investment adviser who has observed or has knowledge of an incident that is directly related to a transaction or matter which is within his or her scope of practice and which reasonably appears to be exploitation of an older person or vulnerable person shall report the known or suspected exploitation to a designated reporter pursuant to NRS 90.6145.
(Added to NRS by 2015, 2020)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.6145 - Designated reporter: Designation; duty to report; immunity.

1. Each broker-dealer and investment adviser shall designate a person or persons to whom a sales representative, representative of the investment adviser or officer or employee of the broker-dealer or investment adviser must report known or suspected exploitation of an older person or vulnerable person.
2. If a sales representative, representative of an investment adviser or officer or employee of the broker-dealer or investment adviser reports known or suspected exploitation of an older person or vulnerable person to a designated reporter and, based on such a report or based on his or her own observations or knowledge, the designated reporter knows or has reasonable cause to believe that an older person or vulnerable person has been exploited, the designated reporter shall:
(a) Except as otherwise provided in subsection 3, report the known or suspected exploitation of the older person or vulnerable person to:
(1) The local office of the Aging and Disability Services Division of the Department of Health and Human Services;
(2) A police department or sheriff’s office;
(3) The county’s office for protective services, if one exists in the county where the suspected exploitation occurred; or
(4) A toll-free telephone service designated by the Aging and Disability Services Division; and
(b) Make such a report as soon as reasonably practicable.
3. If the designated reporter knows or has reasonable cause to believe that the exploitation of an older person or vulnerable person involves an act or omission of the Aging and Disability Services Division, another division of the Department of Health and Human Services or a law enforcement agency, the designated reporter shall make the report to an agency other than the agency alleged to have committed the act or omission.
4. In accordance with the provisions of subsection 3 of NRS 239A.070, in making a report pursuant to this section, a designated reporter may:
(a) Disclose any fact or information that forms the basis of the determination that the designated reporter knows or has reasonable cause to believe that an older person or vulnerable person has been exploited, including, without limitation, the identity of any person believed to be involved in the exploitation of the older person or vulnerable person; and
(b) Provide any financial records or other documentation relating to the exploitation of the older person or vulnerable person.
5. A sales representative, representative of an investment adviser or officer or employee of a broker-dealer or investment adviser and a designated reporter are entitled to the immunity from liability set forth in NRS 200.5096 for making a report pursuant to this section in good faith.
(Added to NRS by 2015, 2021; A 2019, 3474)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.615 - Authority of Attorney General and district attorney.

1. The Attorney General may investigate and prosecute any violation of a provision of this chapter, a regulation adopted pursuant to this chapter, an order denying, suspending or revoking the effectiveness of registration or an order to cease and desist issued by the Administrator.
2. The district attorney of the appropriate county may prosecute any such violation:
(a) At the request of the Attorney General; or
(b) If the Attorney General does not prosecute such a violation.
(Added to NRS by 1991, 593)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.650 - Criminal penalties.

1. A person who willfully violates:
(a) A provision of this chapter, except NRS 90.600, or who violates NRS 90.600 knowing that the statement made is false or misleading in any material respect;
(b) A regulation adopted pursuant to this chapter; or
(c) An order denying, suspending or revoking the effectiveness of registration or an order to cease and desist issued by the Administrator pursuant to this chapter,
is guilty of a category B felony and shall be punished by imprisonment in the state prison for a minimum term of not less than 1 year and a maximum term of not more than 20 years, or by a fine of not more than $500,000, or by both fine and imprisonment, for each violation. In addition to any other penalty, the court shall order the person to pay restitution and may order the person to repay the costs of investigation and prosecution incurred by the Division and the Office of the Attorney General. If the violation was committed against an older person or vulnerable person, any restitution and costs of investigation and prosecution imposed by the court must be in an amount equal to twice the amount that would otherwise have been imposed by the court. Money recovered for reimbursement of the costs of investigation and prosecution must be deposited with the State Treasurer for credit to the State General Fund.
2. A person convicted of violating a regulation or order under this chapter may be fined, but must not be imprisoned, if the person proves lack of knowledge of the regulation or order.
3. This chapter does not limit the power of the State to punish a person for conduct which constitutes a crime under other law.
4. As used in this section:
(a) "Older person" has the meaning ascribed to it in NRS 200.5092.
(b) "Vulnerable person" has the meaning ascribed to it in NRS 200.5092.
(Added to NRS by 1987, 2181; A 1989, 159; 1993, 938; 1995, 1242; 1997, 495; 2003, 20th Special Session, 273; 2009, 2563; 2015, 2025; 2017, 1322)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.670 - Statute of limitations.

A person may not sue under NRS 90.660 unless suit is brought within the earliest of 2 years after the discovery of the violation, 2 years after discovery should have been made by the exercise of reasonable care, or 5 years after the act, omission or transaction constituting the violation.
(Added to NRS by 1987, 2183; A 1989, 160; 1993, 1229; 2003, 20th Special Session, 273)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.680 - Offer of rescission and settlement.

1. Relief may not be obtained under subsection 1 of NRS 90.660 if, before suit is commenced, the purchaser:
(a) Receives a written offer:
(1) Stating the respect in which liability under NRS 90.660 may have arisen and fairly advising the purchaser of the purchaser’s rights of rescission;
(2) If the basis for relief under subsection 1 of NRS 90.660 is a violation of subsection 2 of NRS 90.570, including financial and other information necessary to correct all material misstatements or omissions in the information which was required by this chapter to be furnished to the purchaser as of the time of the sale of the security to the purchaser;
(3) Offering to repurchase the security for cash, payable on delivery of the security, equal to the consideration paid, plus interest at the legal rate of this State from the date of payment, less income received thereon, or, if the purchaser no longer owns the security, offering to pay the purchaser upon acceptance of the offer an amount in cash equal to the damages computed under subsection 1 of NRS 90.660 plus attorney’s fees; and
(4) Stating that the offer may be accepted by the purchaser at any time within a specified period of not less than 30 days after the date of its receipt by the purchaser or such shorter or longer time as the Administrator by order prescribes; and
(b) Fails to accept the offer in writing within the period specified under subparagraph (4) of paragraph (a).
2. The Administrator by regulation may prescribe the form in which the information specified in subsection 1 must be contained in an offer made under subsection 1.
3. An offer under subsection 1 must be delivered to the offeree or sent in a manner which assures actual receipt by the offeree.
4. If, after acceptance, a rescission offer is not performed in accordance with either its terms or this section, the offeree may obtain relief under NRS 90.660 without regard to this section.
(Added to NRS by 1987, 2183; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.690 - Burden of proof.

1. In a civil action or administrative proceeding under this chapter, a person claiming an exemption or an exception from a definition has the burden of proving the exemption or exception.
2. In a criminal proceeding, the burden of going forward with evidence of a claim of exemption or exception from a definition is on the person claiming it.
(Added to NRS by 1987, 2184; A 1989, 160; 1991, 609)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.700 - Liability: General provisions.

1. Except as provided in NRS 90.680, a tender required under this chapter may be made before entry of judgment.
2. The rights and remedies provided by this chapter are in addition to any other rights or remedies that may exist at law or in equity but this chapter does not create any claim for relief not specified in NRS 90.620 to 90.690, inclusive.
3. A claim for relief under this chapter survives the death of a person who might have obtained relief as a plaintiff or defendant.
(Added to NRS by 1987, 2184; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.710 - Administration of chapter.

1. This chapter must be administered by the Secretary of State and the Administrator. The Secretary of State may employ personnel necessary to administer the provisions of this chapter.
2. All money received by the Division or the Administrator pursuant to this chapter must be deposited with the state Treasurer for credit to the State General Fund.
(Added to NRS by 1987, 2184; A 1989, 160; 1991, 1752; 2017, 1323)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.715 - Strict interpretation of provisions; waiver of enforcement; no-action letter; fee.

1. Except as otherwise provided in this section, the Division shall interpret strictly the provisions of this chapter and the regulations adopted pursuant thereto and shall not waive the enforcement of any such provision.
2. Subject to the provisions of this section and at the sole discretion of the Administrator, the Division may:
(a) Grant a waiver of the enforcement of any provision of this chapter or the regulations adopted pursuant thereto if the Administrator determines that the waiver is appropriate under the circumstances and is clearly within the authority of the Division to grant.
(b) Issue a no-action letter relating to a proposed transaction. Such a letter must not be issued in any case in which the issue presented may be resolved through a careful reading of the relevant provisions of this chapter or the regulations adopted pursuant thereto or through an interpretation of those provisions by competent counsel.
3. A request for a waiver or no-action letter must be submitted in writing to the office of the Administrator, accompanied by a fee of $200.
4. Except under extraordinary circumstances, the Division shall not respond to any request:
(a) Involving the antifraud provisions of this chapter or the regulations adopted pursuant thereto; or
(b) Relating to a transaction that has been consummated.
5. Unless otherwise specified in writing by the Division, a waiver or no-action letter is limited to the specific security, case, matter or transaction at hand and has no precedential value in any other context.
6. As used in this section, "no-action letter" means a written communication issued by the Division by which a person is advised that a transaction carried out under a set of assumed facts will not result in a recommendation by the staff of the Division that an enforcement action be taken.
(Added to NRS by 2003, 20th Special Session, 23, 25, 26)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.720 - Prohibitions on use of information.

The Administrator and employees of the Division shall not use information filed with or obtained by the Division for their personal gain or benefit or the gain or benefit of another person. The Administrator and employees of the Division shall not conduct securities dealings based upon public information filed with the Division before there has been a sufficient period for the securities markets to assimilate the information.
(Added to NRS by 1987, 2184; A 1989, 160)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.730 - Public information and confidentiality.

1. Except as otherwise provided in subsection 2, information and records filed with or obtained by the Administrator are public information and are available for public examination.
2. Except as otherwise provided in subsections 3 and 4 and NRS 239.0115, the following information and records do not constitute public information under subsection 1 and are confidential:
(a) Information or records obtained by the Administrator in connection with an investigation concerning possible violations of this chapter; and
(b) Information or records filed with the Administrator in connection with a registration statement filed under this chapter or a report under NRS 90.390 which constitute trade secrets or commercial or financial information of a person for which that person is entitled to and has asserted a claim of privilege or confidentiality authorized by law.
3. The Administrator may submit any information or evidence obtained in connection with an investigation to the:
(a) Attorney General or appropriate district attorney for the purpose of prosecuting a criminal action under this chapter; and
(b) Department of Taxation for its use in carrying out the provisions of chapters 363A and 363C of NRS.
4. The Administrator may disclose any information obtained in connection with an investigation pursuant to NRS 90.620 to the agencies and administrators specified in subsection 1 of NRS 90.740 but only if disclosure is provided for the purpose of a civil, administrative or criminal investigation or proceeding, and the receiving agency or administrator represents in writing that under applicable law protections exist to preserve the integrity, confidentiality and security of the information.
5. This chapter does not create any privilege or diminish any privilege existing at common law, by statute, regulation or otherwise.
(Added to NRS by 1987, 2184; A 1989, 160; 1991, 609; 2003, 3176; 2005, 1783; 2007, 2069; 2015, 2927)
2023 Nevada Revised Statutes › Chapter 90 - Securities (Uniform Act) › NRS 90.740 - Cooperation with other agencies.

1. To encourage uniform interpretation and administration of this chapter and effective securities regulation and enforcement, the Administrator and the employees of the Division may cooperate with the securities agencies or administrator of one or more states, Canadian provinces or territories, or another country, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Securities Investor Protection Corporation, any self-regulatory organization, any national or international organization of securities officers or agencies and any governmental law enforcement or regulatory agency.
2. The cooperation authorized by subsection 1 includes:
(a) Establishing a central depository for licensing or registration under this chapter and for records required or allowed to be maintained under this chapter;
(b) Making a joint examination or investigation for licensing or registration;
(c) Holding a joint administrative hearing;
(d) Filing and prosecuting a joint civil or administrative proceeding;
(e) Sharing and exchanging personnel;
(f) Sharing and exchanging information and records subject to the restrictions of NRS 90.730; and
(g) Formulating, in accordance with chapter 233B of NRS, regulations or proposed regulations on matters, statements of policy, guidelines and interpretative opinions and releases.
(Added to NRS by 1987, 2185; A 1989, 160; 2003, 3177)