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.
Source
Last accessed
Oct. 23, 2019