NRS 661.240
Additional limitation on making distribution

  • definition.

1.

No distribution may be made by a bank if the distribution would reduce its stockholders’ or members’ equity below its initial stockholders’ or members’ equity.

2.

As used in this section, “distribution” means a direct or indirect transfer of money or property other than its own shares or interests or the incurrence of indebtedness by a corporation or limited-liability company to or for the benefit of its stockholders or members with respect to any of its shares or interests. A distribution may be in the form of a declaration or payment of a dividend, a purchase, redemption or other acquisition of shares or interests or a distribution of indebtedness, or in any other form.

Source: Section 661.240 — Additional limitation on making distribution; definition., https://www.­leg.­state.­nv.­us/NRS/NRS-661.­html#NRS661Sec240.

Last Updated

Jun. 24, 2021

§ 661.240’s source at nv​.us