Nevada § 463.505 Prior approval by Chair of Board required to grant option to purchase security issued by corporation other than publicly traded corporation or to dispose of existing option to acquire such security; review of denial of approval

Nevada Statutes

§ 463.505 — Prior approval by Chair of Board required to grant option to purchase security issued by corporation other than publicly traded corporation or to dispose of existing option to acquire such security; review of denial of approval

Nevada § 463.505

Title 41GAMING; HORSE RACING; SPORTING EVENTS

Ch. 463Licensing

Corporations Generally

This text of Nevada § 463.505 (Prior approval by Chair of Board required to grant option to purchase security issued by corporation other than publicly traded corporation or to dispose of existing option to acquire such security; review of denial of approval) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 463.505 (2026).

Text

1. The purported granting of an option to purchase any security issued by a corporation, other than a publicly traded corporation, which holds a state gaming license or which is a holding company or an intermediary company for an entity that holds a state gaming license or the purported sale, assignment, transfer, pledge or other disposition of an existing option to acquire such a security is void unless administratively approved in advance by the Chair of the Board. 2. A request for administrative approval pursuant to subsection 1 must:

(a)Be made on forms approved by the Chair of the Board; and

(b)To the extent consistent with this section, be considered in all respects as an application. 3. The Chair of the Board may refer a request for administrative approval to the Board and Commiss

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1. The purported granting of an option to purchase any security issued by a corporation, other than a publicly traded corporation, which holds a state gaming license or which is a holding company or an intermediary company for an entity that holds a state gaming license or the purported sale, assignment, transfer, pledge or other disposition of an existing option to acquire such a security is void unless administratively approved in advance by the Chair of the Board.
2. A request for administrative approval pursuant to subsection 1 must:
(a) Be made on forms approved by the Chair of the Board; and
(b) To the extent consistent with this section, be considered in all respects as an application.
3. The Chair of the Board may refer a request for administrative approval to the Board and Commission for consideration or deny the request for administrative approval for any reasonable cause. A denial may be submitted for review by the Board and Commission in the manner set forth by the regulations of the Commission pertaining to the review of administrative approval decisions.
4. The Commission, upon recommendation by the Board, may require a person to apply for a finding of suitability to hold an option to purchase such a security.