Nevada Statutes
§ 90.450 — Custody of client’s securities and money
Nevada·Title 7 BUSINESS ASSOCIATIONS; SECURITIES; COMMODITIES·Ch. 90 Securities· LICENSING OF BROKER-DEALERS, SALES REPRESENTATIVES,
INVESTMENT ADVISERS, REPRESENTATIVES OF INVESTMENT ADVISERS AND TRANSFER AGENTS
1.Unless prohibited by regulation or order of the Administrator, an investment adviser registered under the Investment Advisers Act of 1940 may take or retain custody of securities or money of a client.
2.To the extent permitted by regulation or order of the Administrator, an investment adviser exempt from registration under the Investment Advisers Act of 1940, but licensed as an investment adviser under this chapter, may take or retain custody of securities or money of a client.
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Legislative History
(Added to NRS by 1987, 2160 ; A 1989, 160 )
Nearby Sections
15
§ 90.211
Definitions§ 90.215
“Administrator” defined§ 90.220
“Broker-dealer” defined§ 90.223
“Commission” defined§ 90.225
“Depository institution” defined§ 90.230
“Division” defined§ 90.235
“Filing” and “file” defined§ 90.250
“Investment adviser” defined§ 90.255
“Issuer” defined§ 90.260
“Nonissuer transaction” defined§ 90.265
“Person” defined