Nevada § 661.240 Additional limitation on making distribution; definition

Nevada Statutes

§ 661.240 — Additional limitation on making distribution; definition

Nevada § 661.240

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 661Organizational

ASSETS, DIVIDENDS AND DISTRIBUTIONS

This text of Nevada § 661.240 (Additional limitation on making distribution; definition) 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. § 661.240 (2026).

Text

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.

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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.