Nevada § 671.015 “Passive investor” defined

Nevada Statutes

§ 671.015 — “Passive investor” defined

Nevada § 671.015

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 671Money

GENERAL PROVISIONS

This text of Nevada § 671.015 (“Passive investor” defined) 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. § 671.015 (2026).

Text

“Passive investor” means a person that: 1. Does not have the power to elect a majority of key individuals or executive officers, managers, directors, trustees or other persons exercising managerial authority of a person in control of a licensee; 2. Is not employed by and does not have any managerial duties of a licensee or person in control of a licensee; 3. Does not have the power to exercise, directly or indirectly, a controlling influence over the management or policies of a licensee or person in control of a licensee; and 4. Does either of the following:

(a)Attests to the characteristics set forth in subsections 1, 2 and 3 in a form prescribed by the Commissioner; or

(b)Commits to the characteristics set forth in subsections 1, 2 and 3 in a written document.

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“Passive investor” means a person that:
1. Does not have the power to elect a majority of key individuals or executive officers, managers, directors, trustees or other persons exercising managerial authority of a person in control of a licensee;
2. Is not employed by and does not have any managerial duties of a licensee or person in control of a licensee;
3. Does not have the power to exercise, directly or indirectly, a controlling influence over the management or policies of a licensee or person in control of a licensee; and
4. Does either of the following:
(a) Attests to the characteristics set forth in subsections 1, 2 and 3 in a form prescribed by the Commissioner; or
(b) Commits to the characteristics set forth in subsections 1, 2 and 3 in a written document.