Title 7

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 withhol…

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 An application for a license may be withdrawn by the applicant without prejudice before the license becomes effective. 2.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 be…

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 permit…

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 regis…

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, cli…

NRS 90.454 Limitations on trading of security. A securities exchange located in this State shall not allow the trading of a security in this State unless it is issued by a corporation which has complied with the requirements of this chapter and any other applicable requirements o…

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 …

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…

NRS 90.460 Registration requirement. It is unlawful for a person to offer to sell or sell any security in this State unless the security is registered or the security or transaction is exempt under this chapter. (Added to NRS by 1987, 2161; A 1989, 160)

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 f…

NRS 90.470 Registration by filing. 1. Securities for which a registration statement has been filed under the Securities Act of 1933 in connection with the offering of the securities may be registered by filing, whether or not they are also eligible for registration under NRS 90.4…

NRS 90.480 Registration by coordination. 1. Securities for which a registration statement has been filed under the Securities Act of 1933 in connection with the offering of the securities may be registered by coordination. 2. A registration statement under this section must conta…

NRS 90.490 Registration by qualification. 1. A security may be registered by qualification. 2. A registration statement under this section must contain the following information and be accompanied by the following records in addition to the information specified in subsection 4 o…

NRS 90.500 Provisions applicable to registration generally. 1. A registration statement may be filed by the issuer, any other person on whose behalf the offering is to be made, or a broker-dealer licensed under this chapter. 2. Except as otherwise provided in subsection 3, a pers…

NRS 90.510 Denial, suspension or revocation of registration. 1. The Administrator may issue an order denying effectiveness to, or suspending or revoking the effectiveness of, a registration statement if the Administrator finds that the order is in the public interest and that: (a…

NRS 90.520 Exempt securities; filing and fee required for exemption. 1. As used in this section: (a) “Guaranteed” means guaranteed as to payment of all or substantially all of principal and interest or dividends. (b) “Insured” means insured as to payment of all or substantially a…

NRS 90.530 Exempt transactions. The following transactions are exempt from NRS 90.460 and 90.560: 1. An isolated nonissuer transaction, whether or not effected through a broker-dealer. 2. A nonissuer transaction in an outstanding security if the issuer of the security has a class…

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 qua…

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 …

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 …

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 t…

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. § 77…

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 believ…

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…

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…

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…

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 licensin…

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 circu…

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…

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 consti…

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)

NRS 90.6115 “Designated reporter” defined. “Designated reporter” means a person designated by a broker-dealer or investment adviser to receive reports of known or suspected exploitation of an older person or vulnerable person pursuant to NRS 90.6145. (Added to NRS by 2015, 2020)

NRS 90.612 “Exploitation” defined. “Exploitation” has the meaning ascribed to it in NRS 200.5092. (Added to NRS by 2015, 2020)

NRS 90.6125 “Older person” defined. “Older person” has the meaning ascribed to it in NRS 200.5092. (Added to NRS by 2015, 2020)

NRS 90.613 “Reasonable cause to believe” defined. “Reasonable cause to believe” has the meaning ascribed to it in NRS 200.50925. (Added to NRS by 2015, 2020)

NRS 90.6135 “Vulnerable person” defined. “Vulnerable person” has the meaning ascribed to it in NRS 200.5092. (Added to NRS by 2015, 2020)

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 vul…

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 investm…

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 registr…

NRS 90.620 Investigations and subpoenas. 1. The Administrator may make an investigation, within or outside of this State, as the Administrator finds necessary to determine whether a person has violated or is about to violate this chapter or any regulation or order of the Administ…

NRS 90.630 Enforcement. 1. If the Administrator reasonably believes, whether or not based upon an investigation conducted under NRS 90.620, that: (a) The sale of a security is subject to registration under this chapter and the security is being offered or has been offered or sold…

NRS 90.640 Power of court to grant relief. 1. Upon a showing by the Administrator that a person has violated or is about to violate this chapter, or a regulation or order of the Administrator under this chapter, the appropriate district court may grant or impose one or more of th…

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 …

NRS 90.660 Civil liability. 1. A person who offers or sells a security in violation of any of the following provisions: (a) Subsection 1 of NRS 90.310; (b) NRS 90.460; (c) Subsection 10 of NRS 90.500; (d) Subsection 2 of NRS 90.570; (e) Subsection 2 of NRS 90.610; or (f) A condit…

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, omissio…

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…