Nevada Business Associations; Securities; Commodities
Sec.
§
78.3783
“Acquisition” defined.
1.
Except as otherwise provided in subsection 2, acquisition means the direct or indirect acquisition of a controlling interest.
2.
Acquisition does not include any acquisition of shares in good faith, and without an intent to avoid the requirements of NRS 78.378 to 78.3793, inclusive:
(a)
By an acquiring person authorized pursuant to NRS 78.378 to 78.3793, inclusive, to exercise voting rights, to the extent that the new acquisition does not result in the acquiring person obtaining a controlling interest greater than that previously authorized; or
(b)
Pursuant to:
(1)
The laws of descent and distribution;
(2)
The enforcement of a judgment;
(3)
The satisfaction of a pledge or other security interest; or
(4)
A merger, exchange, conversion, domestication or reorganization effected in compliance with the provisions of NRS 78.622, 92A.200 to 92A.240, inclusive, or 92A.270 to which the issuing corporation is a party.