Professional Documents
Culture Documents
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N518.015
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CHPTER 78 - PRIVATE CORPORATIONS
GENERA?ROV5ON5
Defnitions; construction.
Applicability of chapter; efect on corporations exsting before April I,
I925.
Limitations on incorporation under chapter; compliance with other
laws.
Reserved power of State to amend or repea chapter; chapter pat of
corporation's charter.
Form required for fling of records.
Corporate records: Microflming; imaging; return.
Filing of records written in language other than English.
Procedure to submit replacement page to Secretary of State before
actual fling of record.
Correction of inaccurate or defective record fled with the Secretay of
State; cancellation of flings.
Corporate records: Manner of storage; conversion into clea and legible
paper form; admissibility in evidence.
Records or signatures maintained by corporation.
FORMAT1ON
Filing requirements.
Articles of incorporation: Required provisions.
Articles of incorporation: Optional provisions.
Nae of corporation: Distinguishable nae required; availability of
name of revoked, merged or otherwise terminated
corporation; regulations.
Name of corporation: Reservation; injunctive relief.
Articles of incorporation: Approval or certifcation required before
fling of certain articles or amendments.
Penalty for purporting to do business a corporation without fling
articles of incorporation; enforcement; regulations.
Commencement of corporate exstence.
Acceptable evidence of incorporation.
?OWER5
General powers.
Adoption and use of corporate seal or stamp.
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N18.010
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N18.090
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N18.I05
m29
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NRS: CHAPTR 78 - PRIVATE CORPORTIONS
Specifc powers.
Railroad companies: Powers.
Railroad companies: Rights-oC-way granted by the State, counties and
municipalities; limitations; reversion on abandonment; duties
oC companies.
Railroad companies: Filing and recording oC certifed maps and profles.
REG5TEREDOFFCEAND REG5TEREDAGENT
Registered agent required; address oC registered ofce; powers oC bank
or corporation who is registered agent; penalty Cor
noncompliace; service upon registered agent in lieu oC
corporation.
Resignation oC registered agent or termination oC commercial
regi stered agent.
Maintenance oC records at registered ofce; inspection ad copying oC
records; civil liability; penalties.
Denial oC request Cor inspection oC records; deCense to action Cor
penalties or damages; authority oC court to compel production
oC records.
DHECTOR5AND OFFCER5
Board oC directors: Number ad qualifcations.
Board oC directors: General powers.
Committees oC board oC directors: Designation; powers; membership.
Ofcers oC corporation: Selection; qualifcations; terms; powers and
duties; flling of vaancies.
Authority oC directors and representatives oC corporation.
Directors and ofcers: Exercise oC powers; perCormance oC duties;
presumptions and considerations; liability to corporation and
stockholders.
Directors and ofcers: Duties, presumptions and powers when
confonted with change or potential change in control oC
corporation.
Restrictions on transactions involving interested directors or ofcers;
compensation oC directors.
ANNLAL5TAND OTHRREQUEMNT5;DEFAUTDG
COR?ORATON5
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Filing requirements; Cees; powers and duties oC Secretary oC State.
List or statement to be maintained at registered ofce or principal place
oC business; requirement to assist in criminal investgation;
Cailure to comply; regulations.
Additional fling requirements Cor certain corporations: Criteria;
statement; Cees.
Certifcate oC authorimtion to transact business.
DeCaulting corporations: Identfcation; reinstatement oC corporation
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18.I80
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18.I91
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NRS: CHAPTR 78 - PRIVATE CORPORTIONS
which is unit-owners' association; penalty.
Defulting corporations: Duties of Secretary of State; revocation of
charter and forfeiture of right to transact business;
distribution of assets.
Defaulting corporations: Conditions and procedure for reinstatement.
Defulting corporations: Reinstatement under old or new name;
regulations.
5TOCKAND OTHR5ECLRTU5;D5TRLTON5
"Distribution" defined
Issuance of more than one class or series of stock; rights of stockholders.
Establishment of matters regarding class or series of stock by resolution
of board of directors.
Required ad authori:ld classes or series of stock; shares called for
redemption.
Rights of persons holding obligations of corporaton.
Rights or options to purchase stock.
Fractions of shares: Issuance; alternatives to issuance.
Decrease in number of issued and outstanding shares of class or series:
Resolution by board of directors; approval by stockholders;
rights of stockholders.
Change in number of authori:ld shaes of class or series: Resolution by
board of directors; approva by stockholders; rights of
stockholders.
Chage in number of authori:ld shares of class or series: Filing and
efectiveness of certifcate of change; amendment of articles of
incorporation.
Consideration for shares: Athority of board of directors; efect of
receipt; corporate action pending receipt in fture.
Issuance of shares for consideration or as share dividend
Subscriptions for corporate shares: Payment; defult; irrevocability.
Stockholder's liability: No individual liability except for payment for
which shares were authori:ld to be issued or which was
specifed in subscription agreement.
Liability of holder of stock as collateral security; liability of executors,
admiuistrators, guadians ad trustees.
Stock certificates: Validation; facsimile signatures; uncertifcated
shares and informational statements; replacement.
Shares of stock are personal property; transfers.
Restrictions on transfer of stock.
Corporate stocks, bonds and securities not taxed when owned by
nonresidents or foreign corporations.
Cacellation of outstanding certifcates or chage in informational
statements: Issuance of new certifcates or statements; order
for surrender of certifcates; penalties for filure to comply.
Right of stockholders to inspect, copy ad audit fnancial records;
exceptions; civil and criminal liability; penalty.
Preemptive rights of stockholders in corporations organi:ld before
October I,I99I.
Preemptive rights of stockholders in corporations organi:ld on or aer
October I,I99I.
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N18.283
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18.288
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m 2
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N18.315
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18.325
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N18.340
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N18.341
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N18.355
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N18.310
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18.315
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N18.3183
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18.3181
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NRS: CHAPTR 78 - PRIVATE CORPORTIONS
Asessments on stock: Levy ad collection; sale afer default in payment.
Purchase by corporation of its own stock at assessment sale when no
other available purchaser.
Teasury shares: Defnition; limitations; retirement and disposal.
Distributions to stockholders.
Liability of directors for unlawfl distributions.
"Ivestment compay" and "open-end investment compay" defned;
redempton of shares by open-end investment company.
METDG5,ELCT1ON5,VOTDGADNOT1CE
Stockholders' and directors' meetings: Location; authority to call.
Directors' meetings: Quorum; consent for ations taken without
meeting; participation by telephone or similar method.
Stockholders' meetings: Quorum; consent for actions taken without
meeting; paticipation by telephone or similar method.
Actions at meetings not regularly called: Ratifcation and approval.
Directors: Election; terms; classifcation; voting power.
Directors: Removal; flling of vacancies.
Failure to hold election of directors on regular day does not dissolve
corporation.
Election of directors by order of court upon failure of regula election.
Application by stockholder for order of court appointing custodia or
receiver; requirements of custodian; authority of custodian;
adoption of regulations by Secretary of State.
Voting rights of stockholders; determination of stockholders entitled to
notice of and to vote at meeting.
Voting rights: Persons holding stock in fduciary capacity; persons
whose stock is pledged; joint owners of stock.
Stockholders' proxes.
Cumulative voting.
Voting trusts.
Notice to stockholders.
Waiver of notice.
ACQL151T1ONOFCONTROLLDGDTERE5T
Applicability; imposition of stricter requirements; protection of
corporation and its stockholders.
Defnitions.
"Acquiring person" defned.
"Acquisition" defned.
"Control shares" defned.
"Controlling interest" defined.
"Fair val ue" defned.
"Interested stockholder" defned.
"Issuing corporation" defined.
Delivery of oferor's statement by acquiring person; contents of
statement.
Voting rights of acquiring person; meetng of stockholders; statements
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N18.3193
NRS: CHAPTR 78 - PRIVATE CORPORTIONS
to acompay notice of meeting.
Approva of voting rights of acquiring person.
Redemption of control shares.
Rights of dissenting stockholders.
ANDMNTAND RE5TATEMENTOFARTCLE5 OFDCOR?ORATON
m
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N18.390
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Amendment of articles before issuance of voting stock.
Scope of amendments.
Amendment of articles afer issuance of stock: Procedure.
Restatement of articles.
COMBDATON5WTHDTERE5TED 5TOCKOLDER5
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Defnitions.
"Afliate" defned.
"Associate" defned.
"Benefcial owner" defned.
"Combination" defned.
"Common shares" defned.
"Control," "controlling," "controlled by ad "under common control
with" defned; presumption of control.
"Date of aunouncement" defned.
"Date of consummation" defned.
"Interested stockholder" defned.
"Market value" defned.
"Preferred shares" defned.
"Resident domestic corporation" defned.
"Securities Exchange At" defned.
"Share" defned.
"Subsidiary defned.
"Voting shares" defned.
Applicability: Generally.
Applicability: Election not to be governed by provisions.
Applicability: Combination with inavertent interested stockholder.
Applicability: Combination with interested stockholder as of certain
date.
Combination prohibited within 3 years afer stockholder becomes
interested; exception; action on proposal.
Authori:d combinations: General requirements.
Authori:d combinations: Consideration to be received by disinterested
holders of common shares.
Authori:d combinations: Consideration to be received by disinterested
holders of class or series of shares other than common shares.
Authori:d combinations: Required form and distribution of
consideration.
Athori:d combinations: Restrictons on benefcial ownership of
additional voting shares by interested stockholder.
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N7
N78.570
N 7
N 7
N7
N78.590
N 7
N78.600
N
78.605
N 7
1
0
N 78.615
N7
N7
2
N 7
N
78.635
N 7
N78.645
N 78.650
N 75
N78.660
N76
N 7
N78.675
N7
N7
N78.695
N
78.700
N7
N 7
N78.715
NJ
NRS: CHAPTR 78 - PRIVATE CORPORTIONS
5ALE OFA55ET5;D55OLLTONANDWDDDG
Sale, lease or exchange of assets: Athority; vote of stockholders.
Sale of property and fanchise under decree of court.
Procedure for dissolution before payment of capital and beginning of
business.
Procedure for dissolution afer issuance of stock or beginning of
business.
Continuation of corporation afer dissolution for winding up business;
limitation on actions by or against dissolved corporation.
Tustees of dissolved corporation: Powers of directors.
Tustees of dissolved corporation: Authority to sue and be sued; joint
and several responsibility.
Tustees or receivers for dissolved corporations: Appointment; powers.
Jurisdiction of district court.
Duties of trustees or receivers; payment and distribution to creditors
and stockholders.
Abatement of pending actions; substitution of dissolution trustees or
receivers.
Dissolution or forfeiture of charter by decree of court; fling.
D5OLVENCY;RECEVER5AND TRL5TEE5
Reorganimtion under federal law: Powers of corporation.
Application of creditors or stockholders of insolvent corporation for
injunction ad appointment of receiver or trustee; hearing.
Appointment of receiver or trustee of insolvent corporation: Powers.
Property and privileges of insolvent corporation vest in appointed
receiver.
Corporation may resume control upon payment of debts ad receipt of
capital to conduct business; order of court dissolving
corporation and forfeiting charter.
Stockholders' application for injunction ad appointment of receiver
when corporation mismanaged.
Reorganimtion of corporation by majority of stockholders during
receivership.
Powers of district court.
Receiver to take possession of corporate assets upon court order.
Inventory, list of debts and reports by receiver.
Creditors' proof of claims; when paticipation barred; notice.
Creditors' claims to be in writing under oath; examination of claimants.
Action on creditors' claims; appeal of disallowed claims.
Substitution of receiver as paty; abatement of actions.
Saes of encumbered or deteriorating property.
Compensation, costs and expenses of receiver.
Distribution of money to creditors and stockholders.
Acts of majority of receivers efectual; removal and vacancies.
Employees' liens for wages when corporation insolvent.
REDCOR?ORATON;RENEWALAND REVVALOFCHRTER5
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N78.740
NRS: CHAPTR 78 - PRIVATE CORPORTIONS
Domestic corporations in exstence on April 1, 1925, may reincorporate
under tbis chapter.
Renewal or revival: Procedure; fee; certificate as evidence.
Renewal or revival: Status of corporation.
5U1T5AGAU5TCOR?ORAT1ON5,DHECTOR5,OFF1CER5,
EM?LOYEE5,AGENT5AND 5TOCKOLER5
N 7
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N 7
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78.751
N 78.752
N 78.755
N7
N 78.765
N78.767
N7
N7
N 7
Ation against stockholder for unpaid sUbscriptions; limitation of
action.
Action against stockholder by judgment creditor; limitations.
Liability of stockholder, director or ofcer for debt or liability of
corporation.
Service of process on corporations.
Discretionary and mandatory indemnifcation of ofcers, directors,
employees ad agents: General provisions.
Authorimtion reqnired for discretionary indemnifcation; advancement
of exenses; limitation on indemnifcation and advancement of
expenses.
Isurace and other fnancial arrangements aganst liability of
directors, ofcers, employees and agents.
5ECRETARYOF5TATE:DUTU5AND FEE5
Duties: Collection of fees; employment of new technology to aid in
performance.
Filing fees: Articles of incorporation.
Filing fees: Certifcate changing number of authorild shares;
certifcate of amendment to articles; certifcate of correction;
certifcate of designation; certificate of termination;
certifcate of withdrawal.
Filing fees: Certifcates of restated aticles of incorporation.
Filing fee: Certificate of dissolution.
Miscellaneous fees.
M5CELNEOL5?ROV151ON5
Registration of natural person or corporation willing to serve as
registered agent for corporation, limited-liability company or
limi ted partnersbi p.
GENERAL?ROV151ON5
NR5 1.010 Dcfdens;censmcden.
! . Aummchpte:
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
(a) "Approva" ad "vote" as descriig acton by te diectors or stockoldes mea
te vote of dictors i person or by wt e consent or of stockolders i person, by
proxy or by wtconsent
(b) "Acles," "acles of icororton" and "cecate of incororaton" a
synonyous t ad, unless the context oteise requies, incle a cecates fed
pusuat to N @,@!@,@!,@!_ ,@,@,@,@,@
and 78-730 ad ay acles of meger, converion, exchange or domesticaton fed
pursuant to N 9Q to 92A.24Q, iclusive, or 9. Unless the context
oterwise requies, tese ters iclude restated acles ad cecates of icororton.
(c) "Ditrs" ad "tustees" a synonymous t.
(d) "Prcial ofce" meas te ofce, i or out of m State, whee the prcial
execute ofces of a domestc or for cororaton ae located.
(e) "Receiver" icludes rceivers and tustees appointe by a court as provide i m
chapte or i c 32 ofNRS.
(f "Reord" meas iforaton tat is inscred on a tangle meim or tt is
stored i a electonic or ote medium ad is retievable i perceivable fon.
(g) "Regstered agent" te meaing ascried to it i N
7.
(h) "Registere ofce" meas te ofce mtaie at te steet address of te
regsteed aget
(i) "Sig" meas to M a sigature to a rcord.
G) "Sigature" meas a D, word, sybol or mark eecuted or otese adopted,
or a rcord ecrpte or sily processed in whole or i pa, by a peson w te
preset itent to idet hiself or heself ad adopt or accet a record. The tn
icludes, wout ltion, a electonic siature as defe i N 7191Q.
() "Stockolder of record" means a peson whose nae appears on te stock ledger
of te cororton.
(I) "Steet addrss" of a regsteed aget meas te actual physical locaton i m
State at which a regsteed aget is avaable for service of prcess.
2. Gene tes ad powers gen i m chapter ae not rsticte by te use of
specil t, or by ay gat of speil powes contaed i mchapter.
[part 47:177:1925; NCL 166] 7 [83:177:1925; A 1931, 415; 1931 NCL 1682]
(RS A 1965, 216; 1977, 184; 1989, 871; 1991, 1207; 1993, 944; 1995, 2093; 1997, 695;
199 15;2Ql. IQI , , 2722,l2 ;2Q
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NR5 78.015 Apphcabmq efchaptcr; ccct encerperadens cxsdng bcferc
Apm1,1925.
1. The provisions of mchapte appl to:
(a) Corortons orgaed i m State on or aOctobe 1, 1991, excet:
(1) Where te provsions of c 8, and . of NRS ae iconsistet w
te prvisions of mchapte;
(2) Cororatons exprssly ecluded by te prvsions of mchapter; ad
(3) Cororatons goveed by te prvisions of N 8I7 to 8, iclsive,
and c 82 ofNRS.
(b) Cororatons whose chaes ae rewed or reed in te mn er provided i
N 7.
(c) Cororatons orgaed ad still existng uder m chapter before October 1,
1991, or ay prior act or ay amendment teo.
(d) Close corortons, uless oterwise provded in @ 7 ofNRS.
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
(c) P msurcc copancs, m0 c mswncc copcs, sm copancs,
crcss copcs, moad copcs, d pub!c uN copcs now cxsmg d
!om bc!omOctobc I, !!, wdcr y omcr actor Iawo!m Statc, sub|cctt y
spccwprovsonsconcmg y cIass o!coqomuons mconsistmt wmc pmvsons
o!mcbaptc,mwmcbcascmcspccwprovsonsconmuct appq.
2. Ncmcmc cstcncco!coqoratons !omorcxsmgbc!orcApnI I, !25, nor
any habuty, causc o!acuon, rqt, prvlcgc or m mvadq cxsmg m !avor o!or
agamst y sucb coqorauon on Aprd !, !25, mc aotcd, abrdgcd, tmm away or
mamd by m cbaptcr, or by y cbgc n mc rcqmts !or mc !omauon o!
coqomtonsprovdbym cbaptc,norbymc cndmmtorrqcao!anyIaws undcr
whcbsucbprorcsmgcoqorauonswcrc!omcdorcrcatcd.
[!: !77.!25,A !J5, !4b, !J7, 4, !45, !b, !4JNC! !b00|-S A !8,
48, !!, !207, !5, 204)
NR5 78.020 Llmltadens enlncerperaden undcr chaptcr; cempllancc wlth
ethcrlaws.
!. mswncccopcs,m0 mswncccopcs,sm copcs, crcss
compcs d m copcs may bc !omcd wdcr m cbaptc, but sucb a
coqomton maynot.
(a)Trsacty sucbbusmcsswm StatcunuIitstcop!cdwa Iaws
concmgoraccmgmcngtto mgagc msucbbusmcss.
(b)mgcmc Iaws o!anyomcstatc orcounuyn wbcb xmayntmd t mgagc m
busmcss,bysomcoqoramgundcrmcbaptcr.
2. No mstcopany, savngs and Io assocaton, copyor coqoraton
orgcd !ormcposco!conducmg abngbusncssmaybc orgcd undcrm
cbaptc.
[Pm4.!77.!25,A !2, 4!J, !J!, 4!5, !4, !58, !55,402|-S A !75, !,
!8J, ! !7, !7, !0!4)
NR5 78.025 Rcscrvcd pewcr ef5tatc te amcnd er rcpcal chaptcr; chaptcr
part ef ceqeraden's chartcr. Ths cbaptcr my bc amcndcd or pcalcd at mc
pIcasm o!mc !cgsIaturc, d c coqomuon crcatcd undcr m cbaptcr, or avg
tscI!o!anyo!mc pmvsons o!m cbaptc, d a stockoIdcs o!sucb coqorauon
sbalI bcboundbysucb mdmcnt,but sucbcndmcnt orrqcasbaIlnottmcaway or
max any rmcdy agst y coqorauon, or its omccrs, !or y Iabw wbcb sba!I
bavc bcmpnousqmcm . Ths cbaptc, and a dmcnts mcrco!, sbaIl bcapm
o!mc cbmc o!cv coqorauon, cxcqt so !m as mc sc arc mappIcabIc d
mappmpratct mc objccts o!mccoqorauon.
[2.!77.!25,NC! Ib0!|
NR578.02 Fermrcqulrcdferllngefrccerds.
!. EacbmcordcdwmcSccrco!Statcpursuanttom cbaptcrmustbcon
oraccopcdbya!ompmscrbymcSccrctmyo!Statc.
2. Tbc Sccrco!Statc mayrcmsct Nc arccord whcb docs notcopqw
subsouon ! orwhcbdocs notcontama o!mcm!omauon rcqmdbystatutc!ormg
mcmord.
J. I!mcpmvisons o!mc!omprcscnTcdbymcSccmo!Statccomctwmc
provsons o!anyrccordmats submcd!orNngwmc!om.
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
(a)Thcprovsons o!mc!onnconuoI!ora puqoscswrcspccttomcm!omauon
mts mqmbystatutcto appcmmmcroordmordcr!ormcroordto bcNcd,and
(b) UnIcssomoscpmvdcd mmcmcord, mc provsons o!mc roord conuolm
cvcryomcrstuaton
4. Thc Sccm o! Statc may by rcguIauonprovdc !or mc clomnc mg o!
rccordswt mcOmcco!mcSccmo!Statc.
(AddcdtoNS by200J_20mS_ccalScssog2b)
NR5 78.027 Cerperatc rccerds:MlcreMg;lmaglng;rctum Thc Sccrct
o!Statcmaymcromormagcyrccordwhchs NcdmmcOmcco!mc Sccmo!
Statc wt rcspcctto a coqomuon pursuantto m chaptc d may ru mcop
rccordmmccoqorauon.
(Addcdto NS by !77, 572,A200J_J077,200J_20mS_ccn!Scssog2_
NR5 78.028 Flllng ef rccerds wrlttcn ln languagc ethcr than Engllsh. No
rccordwhchs w mmaIanguagcomcrmnEngshmaybcN orsubmttcd!ormg
mmcOmcco!mc Sccrctaryo!Statcpursuantto mcprovsons o!mchaptcrunIcssts
accopancdbyavmcdmnsIatono!matmcordmmmcEngIshIanguagc.
(AddcdtoNS by!5, ! ! I2,A200J_J07_
NR5 78.029 ?reccdurc te submlt rcplaccmcnt pagc te 5ccrctaQ ef 5tatc
bcferc actualllng efrccerd. Bc!orc mc ssucc o!stockmcoqomtor, d cr
mc ssuancco!stockanomccr, o!acoqomuonmayaumorzc mc Sccmo!Statc m
wgm rcpIaccypagc o!arccordsubmm cd !ormg onccdxbass, bc!orc
mc actuamg, dtoacccptmcpagcas !xwcrcparto!mcoprccord.
(AddcdtoNSby!7,2807,A!_!@,]_)
NR5 78.0295 Cerrccden eflnaccuratc er dcfccdvc rccerd lcd wlth thc
5ccrctaQef5tatc;cancclladenefllngs.
L A coqorauonmay concctarccord Ncd mmcOmcco!mcSom o!Statc
wt mspcct m mc coqomuon ! mc rccord conts maccumtc dcscrguon o! a
coqomtc acuon or !mc rccord was dc!ccuvcq sqcd, attcstcd, scaIcd, vm or
ackowIcdg.
2. Toconcctamcord,mccoqomuonmust.
(a)Prqmcacmatco!comuonwhch.
(I)Stavsmcco!mccoqorauon,
(2)Dcscrcsmcrccord, mcIudng, woutmtauon,tsmgdatc,
(J) Spccmcsmcccuracyordc!ot,
(4) Scts!ormmcmaccmatcordc!cctvc portono!mcrccord manaccwtc or
comtcd!om,d
(5) ls sqby omccro!mc coqorauon or, !no stockhas bccnssucdby
mccoqorauon,bymcmcoqoratororadmcmro!mccoqoraton.
(b)DchcmccmcatcmmcSccrcto!Statc!ormg.
(c) Payamg!cco!$!75tomcSccrcto!Statc.
J. Acmatco!comuons ccctivconmccccmcdatco!mcroordxconccts
cxccpt as to pcrsons rcIymg on mc uncomctcd mcord d advcscIy cctcd by mc
comuon. Ato moscpcrsons,mccmcatcs cccuvcwhcnN.
4. I!acoqorauonhasmadcamgwmc Sccrctmyo!Statc dmc Sccm o!
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 10196
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
Statc not proccsscd mc f and pbccd mc mg mto mc pubIc rccord, mc
coqomuonmaycccImc Ngby.
(a)Idingastatcmcnto!canccIIauonwmcSomo!Statc,d
(b)Paymgmcrqmcd!ccpursuanttosubsccuon7o!NRS 78.785.
(Addcd toNRSby!7, bJ, A ! !@
,
.l , J
,
_,
2@
@
Ss
2_,22)
NR5 78.0297 Ceqeratc rccerds: Manncr efsteragc; cenvcrslen lnte clcar
andlcglblcpapcrferm;admlsslbllllncvldcncc.
L Exccptasomoscprovd
eraden.
I . No mcord or sqaturc mtn by acoqomuon mqurcd m bc crcatcd,
gcncratcd, smt, comcatcd, rocivcd, storcd or omosc proccsscd or uscd by
cIccuoncmcs ormcIccuonic !om.
2. Thc coqomton my rcmsc to accqt or condut y mnsacuon or crcatc,
gcncratc, scnd, comcatc, rcccivc, storc or omcrwisc proccss, usc or accqt y
rccordorsqaturcbycIccuoncmcs ormcIccuonic !om.
(AddcdtoNRSby200J_J07
FORT1ON
NR5 78.0J0 Fmgrcqulrcmcnts.
L OncormorcpcrsonsmaycstabIshacoqomuon!ormcmsacuono!yDW
busmcss, or m promotc or condut y Icguatc objot or posc, pmsut d
subjot to mc rcqmmcnts o!m chaptc, by sgg d Ng m mc Omcc o!mc
Sccmo!Statc acIcs o!mcoqomuon.
2. Thc mcIcs o!mcoqomuon must bc provdcd mNRS 78.0J5, d mc
Sccm o! Statc sI rcqmc mm to bc m mc !om prcscmcd. l! y mcIcs a
dc!ccuvcnmrcspcct,mc Sccrcto!StatcshaIIr mcm!orconccuon.
[J.!77.!25, A !J!,4!5, IJ!NCL !b02|-S A IbJ, 70, !7, J4, !8!,
!888,!8, 48, !!, !208, !5, 205, !_!], 200J J0_8, 20g2b40)
NR5 78.0J5 Aclcs ef lnceqeraden: Rcqulrcd prevlslens. Thc mcIcs o!
mcoqorauonmstsct!orm.
L Thcn o!mc coqorauon.Anc appcmgto bcmt o!anatupcrsond
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 11/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
coum a gcumc orm must uot bc us a a coqomtcumccxcqt wtm
duomwordorwordssucb"mcoqomtcd,"Lmttcd,"luc.,"Ltd.,"Coqmy,
"Co., "Coqomton, "Coq., or omcr word wbcb domcs x a uot bc a mm
pcrsou.
2. Tbcm!omahourcgmdpursuauttoN 77 m
3. Tbc uubcro!sbmcsmc coqomhousaumomcdm ssumd,! morct ouc
class orscrcs o!stock s aumorz,mc classcs,mcscncs audmcuumbc o! sbarcs o!
cacb class or scrcs wbcb mc coqomhou s aumon to ssuc,wlcss mc mclcs
aumomcmc bomdo!drcctorstof mddoca rcsolutoumcclasscs,sccsmd
uumbcso!cacbcIassorscncsa provdcdN878.195aud 78.196.
4. Tbc umcs aud addrcsscs,ctbcrmsdcucc or buscss,o! mc st board o!
drcctors or mstccs,mcmc wt my dcsd provsous mlatvc m mc gt to cbauc
mcuumbcro!dxcctorsa pmvdcdN878.115.
5. Tbc namc mddrcss,c0crcsdocc orbusucss,o!cacb o!mccoqomtors
sQmcmclcso!coqomtou.
[Part 4:177:1925;A 1929,413; 1931,415; 1949,158; 1955,4O2| 8 A1957,75;
1967,769; 1981,1888; 1985,1785; 1987,81,574,1O54; 1991,12O8; 1993,945; 1995,
2O95;1@1@; @; 2@@@2];)
NR5 78.0J7 Aclcs eflncerperaden: Opdenal prevlslens. Tbc mclcs o!
coqomtoumayalso couta my pmvson, uotcoumtomclawso!m8tatc:
1. Ior mc Dcmot o! mc buscss md !or mc couduct o! mc o! mc
coqomhou;
2. Crcam, dc, mormuIammcpowcrso!mccoqomhouormcgts,
powcs or duhcs o! mc dxccmrs,mc omccs or mc stockoldcs,or my class o! mc
stockoldcrs,ormcboldcrso!boudsoromcoblahonso!mccoqomhou;or
3. Govmmcdsmunouordmsouo!mcpro tso!mccoqorahou.
(AddcdtoN8by1987,8O;A1991,121O;1993,945;2OO_3171)
NR578.0J9 Namc efceqeraden:Dlsdngulshablcnamcrcqulrcd;avallablllty
efnamc efrcvekcd,mcrgcderethcrwlsctcrmnatcdcerperaden;rcguladens.
1. Tbc namc proposcd !or a coqorahou must bc dsmmsbablc ou mc rccoms o!
mc 8ccrctary o! 8tatc om mc umcs o! a omc cal pcrsons !omcd,ormcd,
rcgstccdorgucdpursuttomcprovsonso!mmlcmata oucmcOmcco!
mc 8ccrctary o! 8tatc md a umcs mat mc rcscvcd mc Omcc o! mc 8ccn o!
8tatc pursumtm mcprovsons o!m htlc.l!aproposcdn s uotso dsuuusbablc,
mc 8ccrctary o! 8tatc sball r mc mclcs o! coqomhou couw mc pmposcd
umc tomc coqomtor,wlcss mcwte ackowlcd cousot o!mc boldco! mc
uamc ou c or rcsocd n to usc mc smc n or mc mgucst sm umc
accoqaucsmcmclcso!coqomhou.
2. Ior mc poscs o! m scchou aud NS 7, a propos umc s uot
dsmusbablc om a umc ou or rcsocd n solc[ bccausc ouc or mc omcr
couts dsmctvc m,a dsmctvc mk, a uadCk or a uadc umc,or my
combmahouo!mcsc.
3. Tbcn o! a coqomtou wbosccbmcr bco rcvokcd,wbcb bas mcrcd
aud suot mcsm cumyor wbosccxstcuccomcrwsc tmtcdsavalablc!or
uscbyauyomcrmpcsou.
4. Tbc8ccrctaryo!8tatcmay adoptrculatonsmattoprctmcrcgutso!m
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 126
11/1/11 NRS: CHAPTR 78 - PRIVATE CORPORTIONS
scchou.
(Addcd m N8 by 1975,477; A 1987,1O56; 1991,121O; 1993,945; 1997,28O7;
1@1@
NR5 78.040 Namcefceqeraden:Rcscrvaden;lnjuncdvcrcllcf.
1. Thc8ccrctmyo!8tatc,whorcgucstcd sotodo,shlrcsoc,!ora pcnodo!9O
days,mcrQt m uscauy umc avablc uudcrN878.O39,!or mcusco! auy pmposcd
coqomhou. Du mcpcrod,ac sorcscrvcda uotavablc!or uscorrcscvauou
by myomcrcalpcrsou!om,orm, rcstcr or gu mcOcc o!
mc 8ccrct o! 8tatc pursumt to thc provsons o! m u wtmout mc wte
ackowlcdconsoto!mcpcrsouatwhoscrcgucstthcmscrvahouwasmc.
2. Thc usc bymy omc c pcrsou o! a n volahou o! subscchou 1 or
N8 78.O39 may bc cujocd,cvo u mc rccord uudcr wbch mc pcsou a
!om, ormcd, rcstcrcdorgudbccu: bymc8ccrcto!8tatc.
[4a:177:1925; addcd 1931,415; 1931NCL [ 16O3.O1j 7 [4b:177:1925; add 1931,
415; 1931NCL [ 16O3.O2|-(N8 A 1963,6; 1979,395; 1981,472; 1987,1O56; 1993,
946;1@1@; __)
NR5 78.045 Ardclcs ef lnceqeraden: Appreval er ccrmcaden rcqulrcd
bcfercMng efccrtalnardclcs eramcndmcnts.
1. Thc 8ccrcto! 8tamshluotaccqt !orm my aclcs o! coqomnou or
auy cmcatc o! mcudmot o! mclcs o! coqorahou o! my coqomtou !omcd
pursuaut to mc law o! m 8tatc wbch provdcs mt mc uamc o! mc coqorauou
coutsmcword"b or"mst,`wlcss:
(a) H appcmsom mcartclcs or mccmcatc o!mcudmot that mc coqorauou
proposcs to cm ou buscss as a b or mst coqmy, cxcUsvc[ or
conuohou wts buscss as a b,savs md lom assocanou or coqmy;
aud
(b)Thcaclcsorcmcatco!mdmcut H st appmvcdbymcComssoucro!
luaucmI!usnous.
2. Thc 8ccrcto! 8tatc shluotaccqt !orm my mclcs o! coqomhou or
auy cmcatc o! amcudmot o! aclcs o! coqorahou o! my coqomhou !omcd
pursuttomcprovsons o!m cbaptcruxappcmsommcmclcsormccmatco!
amcudmcut matthc buscssm bccmcd ouby mccoqomtou a subjcct msqcsou
by mc Comssouc o! msuucc or by mc Comssoucr o! lmauc !nshous,
wlcss mcmclcs orcmcatco!mcudmota approvcd bymc ComssoucrwhoW
supcrvscmcbusucsso!mccoqomhou.
3. !cqt as omcrwsc provdcd subscchou 7,mc 8ccn o! 8tatc shl uot
acccpt!or auy aclcso!coqorauou ormycmcatco!mcudmoto!aclcso!
coqorauou o!my coqomhou !omcd pusumt tomc laws o!m 8tatcumcc o!
mccoqorahou coutsmcwords "cuucc,` "cuccrcd,`"cuccru,`"pro!cssouaI
cucc,`"rcstcrcdcuco or"6ccnscdcuuo wlcss:
(a)Thc 8tatc Board o!Pro!cssoualEccrs md Laud 8uvcyors cmcs matmc
prucs o! mc coqorauoua Icoscdto prachcccuccru pursuaut m mclaws o!
m8tatc;or
(b)Thc 8tatc Bomd o!Pro!cssoualEccrs mdLaud8uvcyorscmcs matmc
coqomtouacxcmptommcprohOxouso! N625_2O.
4. !cqt as omcrwsc provdcd subscchou 7,mc 8ccn o! 8tatc sbl uot
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 136
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
acccpt!ormmymclcso!coqorahou ormycmcatco!mcudmoto!mclcso!
coqorahou o!my coqomhou !omcd pursuaut tomc laws o!m 8tatcutbc namc o!
mc coqorahou couts mc words "mcbct, "mcbxoturc, "rcgstmd mcbxcct,
"lccnscdmcbxcct,"rcstmdutmor dcscr,"mstcmdutcrordcs,"msdcum
dcsqc, "mgstcr rcsdomdcscr, "lccuscd rcsdom dcscr' or "rcsdcum
dcsg unlcss mc 8tatc Bomd o! Arcbxoturc, !utcnor Dcs md RcsdcutN Dcs
cmcsmat:
(a) Tbc prucaIs o! mc coqorahou a boldcrs o! a cmatc o! rcsuahou to
prachcc mcbxccturcorrcsdotal dcsortoprachccasa mstmd utcor dcscr,as
applcablc,pursumttomclawso!m8tatc;or
(b)Tbccoqorahousgucdtodobuscssm8tatcpursuauttoN 6.
5. Tbc 8ccrcto! 8tamsbl uotaccqt !oru my mclcs o! coqomhou or
auy cmcatc o! mcudmot o! mclcs o! coqorahou o! my coqomtou !onucd
pursuaut to mc laws o! m 8tatc wbcb provdcs mt mc umc o! mc coqorahou
couts mc word "accowtaut, "accowm, "accowtaucy, "ator' or "audtu
uulcssmcNcvada8tatcBomdo!Accouutaucycmcsmatmccoqorahou:
(a)!srcgstcrcdpursuuttotbcpmvsonso!@ 2o! NR8; or
(b)H : w mcNcva8tatcBomdo!Accowtaucywdc pco! pqa
w o statcmcut mat mc coqorahous uot cua mcprachcco!accouum auds
uotocrtoprachccaccouumm8tatc.
6. Tbc 8ccrcto! 8tamsbluotaccqt !oru my mclcs o! coqomnou or
auy cmcatc o! modmcut o! mclcs o! coqomtou o! my coqomhou !omcd or
cxsmpursuauttomclaws o!t 8tatc wbcbprovdcsmattbcn o! mccoqorahou
couts mc words "commou-utcmst com, "com assocanou, "mtcr
assocahou,"unt-owcrs' socahouor"bomcowucrs' assocahouorutappcars
mc mclcs o! ucoqorahou or cmcatc o! mcudmot mat mc puqosc o! mc
coqomhou s m opmtc as a um-owcrs' assocanoupusuaut to@11or .
o! NR8 unlcss mc Admsuator o! mc Rcal Estatc Dvsou o! mc Dqmcut o!
Buscssmdmdusuycmcsmtmccoqomhou.
(a) Rcgsmrcd w mcOmbudsmm !or Owcs u Commou-mtcrcst Comuntucs
audCoudomHotclspursuttoNR8116.31158or116B.625;aud
(b)PadtomcAdmmsuatoro! mcRcaIEstatcDvsoumc !ccsrcguxcdpursuutto
N 11g11@or11.
7. Tbc provsons o! subscchons 3 md 4 do uotapp[ to my coqoraton,wbosc
sccwsa publc[uadcd audrcuIatcdbymc8ccurtucsExcbauc Acto!1934,wbcb
docs uot cnac mc pracncc o! pro!cssoual occr, mcbxcctum or rcsdcum
dcsorutcordcs,asapplcablc.
8. Tbc Comssoucr o! lmauc!ustons audmc Comssouc o! msuraucc
may approvc or dsapprovc mcmclcs or mdmcuts rc!mcd to mcm pursutm mc
provsonso!mscchou.
[4.5:177:1925; addcd 1949, 52O; 1943NCL [ 16O3.1j- 8 A 1977,1O56; 1979,
11O2;1983,467,1696; 1987,1873; 1993,128;1995,1112; 1997,1O58;1@1@,241;
2OO_111;2OO3_2Om8gccN8csso_28;2OO5_2623;2OO7_2,2279)
NR5 78.047 ?cnalty ferpurperng te de buslncss as ceqeradenwlmeut
llng ardclcs eflncerperatlen;cnferccmcnt;rcguladens.
1. Evcrypcrson, omcrt acoqorahou ormcdmdcxsm pursuut tomclaws
o!momcr statc,m oq,mcDsucto!CoLba,a posscssou o!mcUm8tatcs ora
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 14/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
!orc@counuy, wbo is porting todobusmcss mt 8tatc as a coqomton d wbo
w !as or ncgIccts to Ic w mc 8ccn o! 8tatc cIcs o! mcoqorabon is
subot m a c o! notIcsst $i,000 but not mom m $i0,000,to bcmcovmd in a
como!coctcnturisdchon.
2. Wbcn mc 8ccrct o! 8tatc is adviscd mat a pcrson is subcct to mc c
dcscnbcd msubscchon 1, mc8ccrcto!8tatcmay, as soonas pmtcabIc, insmtmc
disuctattomcyo! mccounty mwbcb mcposon'sprincgaIpIacco!busmcss is Iocatcd
ormcAttomcyGcnm, orbom, tomshtutc proccmgstomcovomcc. I!mcdisuict
attomcy or mcAttomcy Gmm prcvas ma procccdmg torccovo mc cdcscmcd m
subsohon i,mc dismct attomcy ormc Attomcy GcncraI is cnm tomovcr mccosts
o! mc procccding, mcludmg,wout mhon, mc cost o! y mvcsbgahon d
rcasonabIcattomcy's!ccs.
3. Tbc 8ccrcto!8tatcmayadopt mguIahonsto to mc pmvisons o!t
scchon.
(AddcdtoN8by
i@
NR578.050 Cemmcnccmcntefceqeratccxstcncc.
i. Uponmc mg o! mc cIcs o! mcoqorabon pwsut toN 7 d mc
paymmto! mcmng!ccs,mc8ccno! 8tatcsba!Iissuc mtbccoqorabonacmcatc
mat mccIcs,conmg mcrcqmcd stateto! !acts, bavcbcm cd. !rommc datc
mc cIcs a cd, mc coqoration is a body coqoratc, by mc n sct !or0 m mc
cIcs o! mcoqorabon, subcctto mc !or!ckrc o! i cbor dissoluhon as pmvdcd
mt cbapto.
2. Ncmo mcoqommr nora dircctor dcsgatcd m mc cIcs o! mcoqoraton
mcrcbybccomcsasubscrkoorstockoldoo!mccoqomhon.
3. Tbc g o! mc cIcs o! mcoqorabon docs not,by tsc conshtutc
commcnccmmto!busmcssbymccoqorabon.
jP 5:iTT:125;NCL i04|- 8 A i8,48; ii,i2i1; i3,4; 200T,
2
)
NR5 78.055 Acccptablc cvldcncc eflncerperaden. A copy o! y cIcs o!
mcoqorahon Icd pursuant tot cbaptcr,and cmcd by mc 8ccrctary o! 8tatc undcr
mc omcial scN o! mc 8ccn o! 8tatc, or,w rcspot to a coqombon orgcd
bc!om Octobo i, ii,a copy o! mc copy mmo[ cd w mc counq cIok,or
mcromcd by tbc county cIcrk,undcr mc county scaI, cmcd by mc cIcrk, must bc
rcccvcdin a comsandpIaccsas pma!aciccvidmcc o!mc !actsmcrcmstatcd,ando!
mccxistcnccandincoqorahono!mccoqomtonmocinncd.
jPmt5:iTT.i25;NC!i0]-(N8Ai3,T0; ii, i2ii)
?OWR5
NR578.00 Gcncralpewcrs.
i. Any coqorahon orgcdudcrmcprovsons o!t cbaptcr:
(a)H a mcgts, pmgcsdpowoscon!mcdbyt cbaptcr.
(b)H subrigts, pmgcsdpowosmaybc con!cnuponcoqorabonsby
anyomcrcxismgIaw.
(c) My at y wc cxcrcisc mosc rigts,pmgcs d powos,wbcn not
mcousistcnt w mc provisions o! t cbaptcr, or wt mc poscs d obccts !or
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 156
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
wbcbmccoqorahonisorgcd.
(d)UnlcssomcrwiscprovidcdmxscIcs,bas pcqctucxistmcc.
2. Lvcrycoqorahon,byvmco!tscxistcnccassucb,iscnm:
(a)Tobavcsucccsson bytscoqoratcnamcunhIdssolvcddtsm s a wound
upaccordmgtoIaw.
(b)Toswdbcsucdmycowo!Iaworquq.
(c)Tomakc conmcts.
(d)Toappoint sucb omccrsd agcntsas mcm arso! mc coqorahon rcqmc, d
maIIowmcmsutabIccomsaton.
(c) To makc byIaws not inconsistcnt wt mc Conswhon or Iaws o! mc Untcd
8tatcs, or o! m 8tatc,!or mcmgcmcnt, rcguIahon d govmt o! xs m s d
propc, mc mns!o o! xs smck, mc mnsacton o! xs busincss, d mc caIImg d
boIdmgo!mccmgso!tsstockoldos.
() To wd up and dissoIvc xscI!, or bc wound up or dissoIvcd, m mc m cr
mcnhoncd mm cbapur.
(g)Unlcss otbcrwscpmvidcdmmccIcs,to mgagc myIawmIacmq.
Pm 8.!77.!925, NC! !607| 7 9!.!77.!925, NC! l690|- S A !969, 99,
!99!, !2! !, @)
NR5 78.05 Adepdenanduscefcerperatcscalerstamp.
I . Lvcqcoqomtion, by vo! xs cxistcncc as sucb, sbaIbavc powcr toadopt
anduscacomonscaIorst,dNtcrmcscatplcurc.
2. Tbc usc o! a scaI or st by a coqorahon on any coqoratc rccord is not
ncccss. Tbccoqomton may usca scaIor st,ut dcsvcs, butsucb uscornonusc
mustnotinywaym cctmcIcgo!mcmcord.
Pm8.!77.l925, NC! !607| 85.!77.l925, A !953, !80|-S A !967, l02,
!97!, ! !00, @)
NR5 78.070 5pccmc pewcrs. 8ubcct to sucb Imtahons, uy, as may bc
contcd mxs cIcso!mcoqorabon,cvcoqomtonmc!oIIowgpowos:
L To bonow moncy and conmctdcbts wbm ncccss !ormc msachono! xs
busmcss, or !or mc cxcrcisc o! ts coqoratc rigts, pmgcs or mncmscs, or !or y
omcr IawmI posco! ts mcoqombon d to issuc bonds,promissory notcs, bdIs o!
cxcbgc,dcbcnturcs, andomcrobIigahons and cvidcnccs o!indcbtcdncss,payabIc at a
spccmcd wc or wcs, or payabIc upon mc bappcmg o! a spomcd cvcnt or cvcnts,
wbcmo sccwd by mortgagc, pIcdgc or omcr sccw, or wsccw, !or moncy
bomwcd, or m paymcnt !or propc pmbascd or acqmcd, or !or y omo IawmI
ob|cct.
2. To guartcc, pubasc, boId, takc, obt, rcccwc, subscrkc !or, ow,usc,
disposc o!, scII,cxcbangc, Icasc, Imd, ass@, mortgagc, pIcdgc, or omosc aquuc,
ms!o or dcaIm or wt bonds or obIigahons o!, or sbas, sccwcs or mtcrcsts m or
issucd by, y pcrson, govmmt,govmtN agcncy or poIhcaI subdvision o!
govmcnt, andto cxcrcscNImcrigts, powcrs d prviIcgcs o! owcrs o!sub
mtcrcst, mcludmgmcrigttovotc,uany.
3. To purcbasc, boId, scII, pIcdgc d ms!cr sbas o! xs owsmck, d usc
mcrc!ortspmpcrqormoncy.
4. To conduct busmcss, bavc onc or mom omccs, d boId, pubasc, Icasc,
mortgagc, convcy dtakc by dcvisc or bqucstUd posonNpropcmm 8tatc,
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 16/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
and m any o! mc scvm statcs, tmrcs,posscssons d dqdcnccs o! mcUntcd
8tatcs, mcDsmcto!Commbia, ?woKcoand y!orc@counmcs.
5. To docvg ncccssd pmpcr !or mc accoIisbmcnt o! mc obccts
cnumctcd mi cIcso! mcoqomhon orncccssary or mcdcntNtomcprotcchon d
bcnco! mc coqombon,d,in gcncraI,to c yon y Iawmbusincss ncccss or
mcidtNto mc amt o!mc obccts o!mc coqorahon, wbcmcr or not mc busmcss
issminnaturctomcobcctssct!ortbmmccIcso!mcoqomhon, cxcqt mat.
(a)A coqorahon crcatcd undo mc provisons o!t cbapto docs not posscss mc
powoo!issmgbd s, notcsoromocvdcnccso!dcbt!orcmuIahono!moncy,d
(b)Tbscmptcrdocsnotaumorucmc!omahon o!bgcoqorabonsto issucor
circuIatcmoncyor cW cywmint 8tatc, or outsidco! t 8tatc, or at , cxcqt mc
!cdcraIcw cncy, ormcnotcso!bsaumomcdudcrmcIawso!mcUmcd 8tatcs.
. Tomcdonahons!ormcpubIcwcI!arcor!orcbaabIc, sccnmcorcducatonN
poscs.
7. Tour mtoy rcIatonsbg w anomo pcrson m conncctionw yIawm
acucs.
8. Torounccmts cIcso! mcoqomhonor byacbonbymc bomdo! dvcctors
y mtcrcst orccctancy to pcgatc m spccm busmcss opponcs or spccmcd
cIasscs or catcgorcs o! busmcss opponcs mat arc pmscntcd m mc coqomhon or
oncormorco!tsomccrs, dmctorsorstockoIdos.
j.i77.i25, A iJ1,4i5, 14,i58, i5J,i80]- 8 A i5, 0, 1J,i14,
i,ii7,i87,57,ii, i2i2,iJ,47,i7,, 200J_ J080, 2007_ 2414j
NR5 78.075 Rareadcempamcs:?ewcrs. m mcrcco! d m addmon to
mcpowcrs wbcbraoadcoancs orgcd undot cbaptcrarccnwcd tocxcrcisc,
but notm mbono!any o! mcpowcrs gntcdbyt cbaptcr, cvcqraoad coy
may.
i. Causcsucbcxnabon dsmcys!or mcproposcdmad tobcmadc a may
bcnocssaryto tbc scIcctiono! tbc mostadvntagusroutc!ormcmroad, d!or sucb
poscs,by mcir omccrs, agcnts d cIoyccs,m cnto upon mc wds or waurs o!
anyposons, butsubccttomsponskq!ora dagcswbcbmcydommto.
2. Kcccvc, boId, takc and convcy, bydccdoromcrwsc, anaturaIposonmtor
couId do, sucbvoluntgnts d donahons o!Ucstatc,d omcrpmpcrqo! cvcry
dcscrghon, a maybcmadcm ttoad dcncomgc mcconsmchon,mamtcnccd
accoUdahono!mcraIroad.
J. ?ubasc,d byvomntgnts and donations rcccivc d takc,m byxs
omcos,cngccrs,smcyors d agcnts,tcr upon d tc posscsson o[ d boId
and usc,in y manno tbcy may dccm propcr, a sucb bnds d rcalcstatc,d omcr
propc a mc dvccmrs may d ncccss d propcr !or mc consmchon d
mamtancc o! mc raoad,and !or mcstabons, dqots d omo aconxnodahons d
poscs,dccmcd ncccssary to accoIsb tbc obcct !or wbcb mc coqorabon s
!om.
4. Lay outts road or ros,notcxccmg200!cct wdc,d consmct dmtam
mc roadw sucbuK dwt sucbappcndagcs a may bcdOd ncccssary!or mc
convmt usco! x. Tbc coymaymccmts,cxcavbons, dxbcs,drans,
cuIvcs or omcrwsc,dpmcuc wcr,smnc d gavcI,or omcr mato, d may
takc a mucb morc bnd,wbcncvcr mcy may mpropcr,a may bc nocssary !or mc
poscs a!omsad,m mc mn cr boo provdcd,!or mc pmpcr consmcbon d
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
secu of te rorut
5. Constct tei road across, along or upon ay stea of wate, watecourse,
roadstea, bay, navigable st stet, aveue or hiway, or acrss ay rway, caal,
ditch or fme which te rute of is road itersects, crsses or runs along, i such
m e as to aford secuy for life ad propert. The cororton shal restore te stea
or watercouse, road, steet, avenue, higway, raoad, caal, ditch or fme tus
itersected to is foner state, as near as may be, or in a sufciet m e not to have
iaid unecessa its usefess or injured its fnchises.
. Cross, itersect, joi and wits raioad w ay oter raioad, eier before or
aconstcted, at any poit upon is route, and upon te gounds of such oter road
compay, wte necessa touts, sidigs ad switches, ad oter convenieces, i
fence of te objects of is connections; ad eve comay whose raioad is, or W
be he, itersected by ay new road i forg such itersetons ad connecton,
and gnt te facies aforesaid. If te two cororatons canot agee upon te aount of
compesation t be made terefor, or te poits or te m e of suh crossigs,
itersections and connectons, te sae must be ascee ad deted by
conn issiones, to be appoited as is provided hee i respect to te tag of
lands, but msection is not to afect te rigts ad fnchises heretofore gnted.
T. Puhase lands, ter, stne, gavel or ote mate to be used i te
constcton ad mtenance of its rad, or take tem i te m er provided by m
chapte. The rroad compay may change te lie of is road, i whole or i pa,
whenever a majoriy of te diectors detene, as is provided heeie, but no such
chage may va te gene route of a road, as contemlated i te acles of
icororation of te comay.
8. Receive by purchase, donaton or oterwise, ay lds, or oter prperty, of ay
descriton, ad hold and convey it i ay m e te diectors may tk proper, te
same as natu persons mt or could do, tat may be necessa for te constcton
and mtence of is road, or for te erecton of deots, touts, workshops,
waehouses or for any oter puoses necessary for te convenience of road
companies, i order to tnsact te busiess usual for raoad comaies.
. Take, tnsport, car y ad convey persons and prpert on tei road, by te
force ad power of stea, of m, or any mechaical power, or by ay combiatons
of te, ad rceive tolls or comensaton terefor.
i0. Et ad mtai a necessa ad convenient budigs, statons, depots ad
ftures ad machiey for te accomodaton ad use of tei passenges, feigt ad
busiess, obtai ad hold te lands and oter propert necessary terefor, ad acquie
addion lds ad rits-of-way ad build ad opete exions or braches of is lie
of raioad.
ii. Regulate te wad m e in which passengers and prpert a tsported,
and te tlls ad comensaton to be pad teefor, w te lis prescnbed by law.
i2. Regulate te force ad spee of tei locomotives, cars, u or oter mhiery
used ad emloyed on tei road, and establish, execute and eforce a needfl ad
prope rues and reguatons fly ad comletel for te magement of its busiess
tsactons usua and prope for raoad comaies.
i3. Puchase, hold, sell and tsfer shaes ofis ow stock, bonds, debentus, or
oter secues issue by i, excet tat:
(a) No cororaton may use its fnds or prope for te purchase of is own shares
of stock whe such use would cause any ianent of te capital of te cororaton; ad
ww.leg.stt.nv.usIivisionLegaILibraryIRS/RS-078.hb1 18/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
(b) 8bas o!xs ow stockbcIongg tomc coqomhon must not bc vot upon,
dircc or mdxcc, nor countcd as outstanding !or tbc pwosc o! y stockoIdos'
quomorvotc.
i4. Acqmc, own,d opcratc motor vcbcIcs,d mnsportahon !acws,d
msport pcrsons d propcaIong and ovcrmcsuccsd bQwayso! t 8tatc,!or
mcmnsportahon,!orbxc,o!passmgcrs,pmpcrqdcgt,cmodirccormuga
subsdw coy or coancs, sub|cct m aII mIcvt provisons o! Iaw concmg
pm, Icscs, mncbiscs and mc rcguIauon o! sucb !om o! mnsportabon by motor
vcbcIcsoromcr agmccs.
Wbcncvo mc mk o! a mad crosscs a moad or bQway, sucb ramad or
bQway may bc c cd undcr, ovo or on a IcvcI w mc mck, as may bc most
ccdcnt, d m cascs wbo mbcnt or cut0ng makcs a cbangc m mc Imc o!
sucb moad or bQway dcsxablc, wm a vcw to a mom casy asccnt or dcscmt, mc
compy may takc sucb addmonaI bnds d mato,unccdcd !or tbc consmcbon o!
sucb mad or bQway, on sub ncw Iinc, as may bc dcmcd rqustc by mc raoad.
Unlcssmc bnds dmm so takm mc purcbas,orvomnmgvcn!ormcpwosc
a!orcsad,cosabonmoc!or mustbcascommcmn oprovdcdbyIaw.
j(a):1TT:i25, addcd i45,i,i43NC!i08.0i|- 8A13,2T2)
NR5 78.080 Rallread cempanlcs: Rlghts-ef-way grantcd by thc 5tatc,
ceundcs and munlclpalldcs; llmltadens; rcvcrslen en abandenmcnt; dudcs ef
cempanlcs.
i. Tbcrgt-o!-wyisbobygcn dgntcdtoaIlmadcoancstbatmcnow
orgcd,ormay bcorgcdudomc pmvisions o!m cbapto,orudcrmcIaws o!
any omcr statc or tmtory, or undcr y act o! Congss, to Iocatc, consmct d
mM tbcxmads,or y p orpclmoco!,ovcr dmroQany o!mcsw or
ovcrowcdbndsbcIonging tot 8tatc,oranyomo pubIcIandswbicbanowor may
bcmcpropco!mc8tatc,atmcwco!consmmgmcmoad.
2. 8ucb mroad cocs mc bocby aumomcd tosurvcy and mk mroug mc
Iands o! mc 8tatc,to bc bcId by mcm !ormcmko! mcxmspccmc radoads,200!ccm
wdm, !ormcwbolcIcngmmcroads may bc Iocat ovcrmcIands o!mc8tatc, d mc
rQt is bcrcby mo gvcn d gntcd to mc cocs to Iocatc,occupy d boId aII
ncccss sxcs d gowds !or watcrmg pwcs, dqots or omcr buIdmgs, !or mc
convcnt usc o! mc sc, Nong mc Imc o! mc road or roads, so !m as mc pIaccs
convmt !ormcsc may !NI upon tbc bnds bcIongmg to tbc 8tatc,ccqtw mc
Ims o! anymcoqomtcdcor tow, orw 3mIcswbocmc sc sbaIIbc takcn,on
paymgmmc8tatcmcvco!mc samc.
3. No onc dcpot,watog pIacc, macbmc orworksbop, or omcr buIdings !or mc
convmtusco! sucbroads,sbaIIcovcrovoacmscacb, andmc stcs or pIaccs on mc
Iands o! t 8tatcsba!Inotbc ncmomcacbomcrt 5mcsalongmc Imco! mc roads.
4. Tbcngtis bocbymcrgcn dgntcd totbccoanics totakcomanyo!
mc bnds bcIongmgtot 8tatc aIIsubmato o!cm, wood, stoncoromcrmam
wbatcvcr,asmy bcncccss or convcnmt,omwc towc, !ormc stconsmuon
orcqymcnto!tbcroadorros,oranyptbo!
5. I! y road, aty wc ao i locabon, sbaI bc disconmucd orabdoncd by
mc coy or coancs, ormc Iocauon o! y panmoo! bc so cbgcd not to
covcrmc Iandso!mc 8tatcmusprcvousqoccy,tbcnmc Iandssoabdon orlc
sbaIIre tot 8tatc.
ww.leg.stt.nv.usIivisionLegaILibraryIRS/RS-078.hb1 19/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
. Wbm mc Iocaton o! mc mutc o! cmcr o! mc raoads,or sxcs or pwcs !or
dqots, watogpbccs, macmc orworksbopsor omcr budings !or mcconvcmcnt usc
o! mcsc, smIbcscIcct, mc sccrcto! mc copysbaII0m m mc Dvcctor
o! mc 8tatc Dqcnt o! Consovauon and NatmI Kcsomcs,d to mc 8tatc
Conuocr, dtomcmcordoo!mccountymwbcbmcbndssoscIcctcdas0atcd, to
cacbo!mcomccrs, aconcctpIoto!mc locahon o!mcram, orstcsorpIaccs, bc!orc
sucbscIccuonsbal bccomcopcramc.
T. Wbcn any sucb copany sm , !orts puoscs a!orcsad, rcqurcy o!mcbnds
bcIongg to y o! mc couhcs,cmcs ortows mm 8tau,mc couty,cq d tow
omcos,rcspcctvcq,bavmg cbargc o! sucb bnds,may gnt d convcy sucb bnd to
sucb copy,!or a copsauon wbcb sbaIbc agc upon bctwcm mcm,or may
donatcd convcy mc scwtWout y copcnsahon, d umcy sbaIInot agcupon
mcsNcdprcc, mcscmaybctakcnbymccopya pmvdcdmomcrcascso!
mbndsbycondmhon.
B. Bc!orcy coqorahon mcoqoratcd ororgcdomcrwscmudcrmcIawso!
m 8tatc sbNI bc cnwIcd to any o! mc rQts gtcd by m cbaptcr,x sbaI Ic m mc
omcc o! mc county mcordo o! cacb countymwmcbmc raoad,or y part,con
or brcb moo! smIbc skatc, a copy o! i cmcatc or acIcs o! mcoqorahon,or
o! mc act or Iaw by wbcb x was crcatcd,wtW mc cmcd hst o! xs omccrs,m mc
m oand!omrcqmcdbyIaw.
j(b):iTT:i25,addcdi45, i,i43NC!i0B.02|- 8Ai5T, 53)
NR5 78.085 Rallreadcempanlcs:Flllng andrccerdlng efccrmcdmaps and
preMcs.
i. Lvcryraroadcopanymm 8tatcsba, W0 0 days axs road a
Iocat.
(a) Causc m bcmadc amap d proIc mcr) and o! mc bnd takm dobtancd
!ormcuscmoco!, dtbcboudcso!mcscvcrNcouhcstbrougwbcbmcmmay
H,
(b) !Ic mc map and prolc mcrco! m mc Omcc o! mc 8orct o! 8tatc and a
dupIicatcmcmo!wmc?ubIcUmcs Comssono!Ncvada,d
(c)CausctobcmcNcmaps o!mc pasmoco! Iocatcdm dm crmtcounucs,d
rccord sucb maps mmc omcc o! mcrccordcr o! mc couq inwbcbmoscpas o! mc
roadaIocatcd.
2. Tbcmapsand proIcsmust bccobymccbc! cngco, mc acmgprcsdcnt
and sccrct o! mc copy,m copcs o! mc maps and pmcs so co d
rccordcd as mqurcd by subscchonimust bc kqt m mc omcc o! mc copy,sub|cct
to chon by aIImtcrcstcdpcrsons.
j(d):iTT:i25, addcdi45,i,i43NC! i0B.0|- 8A iT,l3, @
iT5i)
RG5TRDOFFCAND RG5TRDAGNT
NR5 78.00 Rcglstcrcd agcnt rcqulrcd; addrcss efrcglstcrcd ecc;pewcrs
ef bank er ceqeraden whe ls rcglstcrcd agcnt; pcnalty fer nencempllancc;
scrvlccupenrcglstcrcdagcntmllcuefcerperaden.
i. Lvcry coqomton must bavc a rcgstcrcd agcnt wbo rcsdcs or a Iocat mt
8tatc.Nowtandmg mc pmvisons o! @7, cacbrcgstod agmt must bavc a
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 2016
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
steet address for rceivig service of prcess, which is te rgstere ofce of te
cororton i t State. If te regsteed agent is i te busiess of actg as a regstered
agent for mor mone busiess ent, te physical steet address of te rgistere ofce
must be in a locaton for which such use is not prhie by ay local ordinace. The
regsted aget may have a seaate mg addrss such as a post ofce box, which
may be dif ert fom te stet addrss.
2. If te rgistere agent is a bak or cororaton, it may:
(a) Act as te fscal or tsfer aget of ay state, municiait, body polc or
corortion ad in tat capaci may rceive and disbuse money.
(b) Trasfer, regster ad countesi cecates of stock, bonds or oter evidences
of idebtedness ad act as agent of ay cororaton, forei or domestc, for ay puose
requd by statute, or oterwise.
(c) Act as tstee unde ay mortgage or bond issued by any municial, body
polc or cororaton, and accet ad execute ay oter municial or cororate tst not
iconsistent wte laws of t State.
(d) Receive ad Dge any sig fnd of ay cororton, upon such mas may
be aged upon between te cororaton ad tose deang wit.
3. Eve corortion orgaed pusut to t chapter which fais or refses to
compl wt te requements of t secton is subject ma fe of not less m$!00nor
more m$500, to be recoveed wcosts by te State, before ay court of cometent
jusdicton, by acton at law prosecuted by te Attorey Genel or by te distct
attorey of te county i which the aton or proceeig mrcover te fe is prosecuted.
4. Plegal process ad any dWd or notce autoried by law to be served upon a
corortion may be sered upon te regsteed agent of te cororation i te D er
provided in subsecton 2 of NRS !4.020. Hany dWd, notice or legal process, oter
m a sU ons ad comlt, canot be served upon te regstered agent, it may be
serve i te manner provided i @ l_. These D ers mmodes of servce ae
i addion to any ote service autorized by law.
78.!77.!925,A !929, 4!3,NCL !677| 7 Pm 79.!77.!925,NCL !678|-S
A !959, 682, !969, 57!, !987, !057, !989, 949, 975, !97!, !99!, !2!3, !993, 948, !995,
2095,2007_26!)
NR5 78.097 Rcslgnaden efrcglstcrcd agcnt ertcrmnaden efcemcrclal
rcglstcrcdagcnt.
!. If a regstered agent resis pursuant mNRS 7 or ua commecial regstered
agent ttes its lstg as a comercial rgisterd agent pursut to @73 , te
corortion, before te efete date of te resiaton or tton, shl fe w te
Secr of State a statement of change of rgistere agent pursuant mNRS 7.
2. A cororaton tat fais mcomly wsubsecton ! shal be deeme i default ad
is subject mte provisions ofNRS 78. !70ad 78.!75.
3. Aused i t secton, "comercial registed aget" te meag ascried to
it in @7.
(Added m NRS by !959, 68!, A l967, 89, !969, ! ! , !989, 949, !99!, l2!4, !993,
949, !g!,2003_308!,2003_20m2,20262
NR5 78.105 Malntcnancc ef rccerds at rcglstcrcd ecc; lnspccden and
cepylng efrccerds;clvllllablllty;pcnaldcs.
!. A cororaton shall kee a copy of te followg records at i regsteed ofce:
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 21/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
(a)A copy cmcd by mc 8ccno!8tatco!ts cIcs o! mcoqomhon, and a
amcndmcntsmcrcto,
(b)Acopycmcdbyomcoo!mccoqomhon o!i byIawsda cndmcnts
mcrcto;d
(C) A stockIcdgoora duphcatcstockIcdgcr, rcviscdnua ,conmg mcuamcs,
@babctcam g, o! a pcrsons wbo mc stockoIdos o! mc coqomton, sbowmg
mcupbccs o!rcsdmcc,i! kow, and mcnmo o! sbas bcId by mmrcspcctvcq.
mIcuo!mc stock IgcrordupIcatc stockIcdgcr,mc coqorahonmaykcq astatcmcnt
sctmgout mcD o!mccusmduno! mc smckIgcrordupIcatcstockIcdgcr,andmc
prcsmtdcolctcmg or succt addmss wbm tbc stock Igcr or dupIcatc stock
Icdgospccmcdmt scchoniskcpt.
2. A stock lcdgcr, dupIcatc smck Igcr or statcmmt sctmg out mcnc o! mc
custodun o! mc stock Icdgo or dupIcatc smck Icdgcr dcscrk m pgpb (c) o!
subsouon I mst bcmtcd by mc rcgstcrcd agcnt o! tbc coqorabon !or 3 ycars
!oIlowg mc ms@ahon or mhon o! mc rcgsurcd agcnt or mc dissoluton o! mc
coqomtonbymc8ccrcto!8tatc.
3. Anypcrsonwbo bccna stockoIdcro! mcord o! acoqorahon!orat Icast
monms mmcdiatcq prccmg mc dcmd, or y poson boIdmg, or mocuto
aumorucd m wrt!ng by mc boIdcn o[ at kst5 pccnt o! a o! i outstandmg sbmcs,
upon at Icast 5 days' w m dcmnd is mu!cd to mspcct in poson or by agcnt or
at|omcy, dwg usuaI busmcss bows, mc mcords rcqum by subscchon 1 d makc
copcs mcmom HoIdcrs o! vomg mst cmcatcs rqrcsmting sbarcs o! mc
coqombon mst bc mgmd as stockoIdos !or mc posc o! t subsccuon. Lvcry
coqomtionmatncgIcctsormmscstokcq mcrccords rcqmcdbysubsobon I opcn!or
mspohon, as rcqumd in t subsccton, sbaI !or!ct to mc 8tatc tbc sum o! $25 !or
cvcrydayo!sucb ncgIcctormmsa
4. I! y coqomhonwncgIccts or rcmscs to makc y propcr cnq m mc
stock Icdgcr or dyIcatc copy mcmo[ or ncgIcctsor rcmscsto pm mspohono!
mc roords mquircd by subscchon I upon dcmnd by a poson mwIcd to mspot mcm,
or rcmscs to pcm copcs m bc madc mcrcom, as pmvid m subsccuon 3,mc
coqomton is habIc m mc pcrson my !or a dagcs rcsuting m mc pcrson
mcrcmm
5. Wbmmc coqorahon kcqs a statmcnt mmcD cr providcd !or m pgpb
(c) o! subscchon I,mc m!omaton contamcd mcmon must bc gvcn to y stockoIdcr
o! mccoqomhondWdmg mc m!omahon, wbmmc dWd ismadc dwg busmcss
bows. Lvcry coqorabon matncgIots or rcmscs tokcq a statcmmt avaabIc, as mt
subsohonrqmcd, sbaI!or!ctto mc8tatcmc smo!$25!or cvdayo!sucbncgIcct
orrcmsa
6. m cvmstancc wbcrc at|omcy or omo agcnt o! mc smckoIdcr sccks mc
r@to! mspohon,mc dcmd must bc accoancd by a powo o! attomcy s@cd by
mc stockoIdo aumormg mc at|omcy or omo agcnt to inspcct on bcba! o! mc
stockoIdcr.
T. Tbcr@tto copy roords undcr subscchon 3incmdcs, i! masonabIc,mcr@t to
makccopcsbypbotogapbc,xcrogpbcorotbcrmcs.
8. Tbccoqorahonmay moscarcasouabIc cbmgctomcovomccostso!Iabord
matmdmccosto!copcso!yrccordsprovidcdtomcstockoldo.
j80.1TT: I25, A I5I,332]-8A I5, 2, 13,21T, I5,T8, 1I,I2I4,
IT, T, ]@, _2@2j
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
NR578.107 Dcnlalefrcqucstferlnspccdenefrccerds;dcfcnscte acdenfer
pcnaldcs erdamagcs;autherlqefceurttecempclpreducdenefrccerds.
L A mspcctonaumomcd by@7 maybc dcdto astockoIdcr oromcr
pcrsonupon mc rcmsNo! mc stockoIdcr or omo pcrsonto mbto mc coqorahon
an m davt1 mat mc mspcchon a not dcsm !or a posc wbcb a in mc intmst o! a
busmcss or obcct omcr mmc busmcss o!mc coqorahon dmat mc smckoIdcr or
omcr pcrson not aty wc soId or ocrcd !or saIc y Iist o! stockoIdcrs o! y
domcshc or !orcig coqorahon or adcd or abm cd y pcrson m procwg y sucb
rccordo!stockoldos!orysucbposc.
2. H a adc!cnscm yachon!or pmcs ordagcsundoNS T8. I05mat mc
pcrson sumg at any wc sold, or omd !or sNc, y Iist o! stockoIdcrs o! mc
coqomton, or y omcr coqorahon, or ad or abcttcd y pcrson m pmcwg
anysucbstockIist!orany sucbposc,ormt mcpcrsonsung dcsxcd mspcchon!ora
posc wbcb a m mc mtmst o! a busmcss or obcct omcr m mc busincss o! mc
coqomton.
3. Tms scctondocs notmaxmc powcrorurisdchon o!y court mcocI mc
produchon!orcxhono!mcbooks o!acoqorahonmany propcrcasc.
(AddcdtoNSby !T, 63)
DHCTOR5AND OFFCR5
NR5 78.115 Beardefmrccters:Numbcr andquamcatlens. Tbc busmcss o!
cvoy coqomhon must bc Dgcd undo mc dxcchon o! a bomd o! dircctors or
mstccs, a o! wbom must bc natu posons wbo mc at Icast !8 ycms o! agc. A
coqomton must bavc at Icast onc dmcmr, and may providc m i cIcs o!
mcoqorahon or in ts byIaws !or a xcd nmbcr o! dmtors or a vuabIc numbcr o!
dircctors, m !or mc D o in wmcb mc numbo o! dmctors may bc mcrcascd or
dccnscd. UnIcss omcrwiscprovidcdm mccIcs o! mcoqorahon,dmcmrs nccd not
bcstockoIdos.
m3! .!TT.!25,NCL [ !630S A !65, I0!2, !8!, 384, !8T, 5TT, !3,
4, !5, ! ! !3, 2003_ 3083)
NR578.120 Beardefdlrccters:Gcncralpewcrs.
L Subototosucbmtahons as may bcpmvdcdbyt cbapto,or mcmtclcs
o!mcoqorahon o!mccoqomhon,mcbomd o!dxcctors conuoIovcr mc
o!mccoqombon.
2. Lxcqtas omoscprovd mt subsohon dsubot mmc byIaws,uy,
optcd by mc stockoIdos, mc dxcctors may mkc mc byIaws o! mc coqomhon.
Unlcss omcrwisc promtcdbyany byIawadoptcdbymc stockoIdcrs,mcdircctors may
adopt,amcnd orrqcaIy byIaw,mcludmg ybyIawadoptcdbymc stockoldos. Tbc
artcIcs o! mcoqorahon may gt mc aumom to adopt, md or rqcaI byIaws
cxcluswcIytomcdxccmrs.
3. Tbc scIohon o! a pood !or mc acbcvcmmt o! coqoratc goaIs a mc
rcsponskwo!mcdxcctors.
m3! .!TT.I25,NCL[ !630]SA I!, !2!T,],
2!)
NR5 78.125 Cemmlttccs ef beard ef dlrccters: Dcslgnaden; pewcrs;
mcmbcrshlp.
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
L UnIcss k is ocrwsc pmvIAcd m c tlcs o!mcoqorauon, c board o!
dircctors may dcsqatc onc or mom com I!ccs which, to thc cxtcnt pmvid m c
rcsoIuuon ormsoIuuons or mc byIaws o!c coqorauon, havc d maycxcnisc c
powcs o!c bomd o!dxcctors mc Dgcmmt o! c busmcss d o!c
coqomuon.
2. !ach conmttcc must mcIudc at lcast onc dmctor. Unlcss c mclcs o!
mcoqorauonorcbyIaws provdcocrwsc,cbomdo!dxcctorsmay appomtnatm
pcrsonswho a notdxcctorsto scrvc oncom ccs.
3. Thcbomdo!dxcctorsmaydcsqatconc ormorcdxcctors as akmtcmcmbcrs
o!acomm ccmrcpIaccymcmbcwhois disqucd orabscntomamccmgo!c
com c. ThcbyIaws o!c coqomuonmayprovidcat, wlcsscbomd o!dxcctors
appomts akmtc mcmbcrs pwsut to m subsccton, c mbcr or mcmcs o! a
com c pmscnt at a mccmg d not disqucd om vomg, whccr or not c
mcmbc ormcmbcrs constc aquorum, maywousq appomt ocrmmbcr o!
c board o!dxcctors to act at c mccmg in c pIacc o! abscnt or disqucd
mcmbco!ccom c.
32.l77.!925, A !929, 4!3,NCL !63!]NRS A !97l, ! ! 00, !99!, l2!7, !993,
949, 2@I_ !_, @,
@
NR5 78.1J0 Occrs efcerperaden: 5clccden;quamcadens;tcrms;pewcrs
anddudcs;filngefvacanclcs.
!. !v coqorauon musthavc a prcsdcnt, a somt and a masurcr, or c
cquiva!cntmo!
2. !vcrycoqomuonmaya!so havc oncormomvicc pmsidcnts, assistantsoms
andassistantucasu,dsuchocroccsdagcnts asmaybcdccmcdncccss.
3. PoccrsmustbcnaturalpcsonsdmustbcchoscnmsuchD cr, hoIdthcx
occs !orswh tcms and havc such powcs d duucs as may bc prcscrcd by c
byIaws or du by c board o!dmcmrs. Any natm pcsonmay hold two or
morcoccs.
4. AnoccrhoIds occ acccxpmuono!m orhcrtmwuasucccssoris
chosm or wu c occr' s rcsqauon or rcmova!bc!om c cpxauon o!m or hcr
m A !awrc to cIcct occs docs not rcquirc c coqorauon to bc dissolv. Any
vaccy occw g m an occ o! c coqorauon by dca, msqauon, rcmova or
ocrwsc, mustbcIlcdascbyIaws providc, ormcabscncc o!suchaprovison, by
cbomdo!dxcctors.
36.!77.!925, A !937, 29! , !93! NCL !635|- S A !960, !52, l99!, !2!7,
!993, 950, 2009_ !673)
NR578.1J5 Authentyefdlrcctersandrcprcscntadvcs efceqeraden.
L Thcstatcmcntmctlcs o!mcoqorauono!cobjccts,poscs,powcs d
auomcd busmcss o!thc coqorauon consttutcs, as bctwccn c coqomuon and its
dircctors, occrs or smcHoIdcrs, auomauonm c dxcctors and aImtauon upon
c actu auorty o! thc prcscntatvcs o!c coqorauon. Swh mtons my bc
asscrtcd inaprocccdmgbyastocHoIdcrorc Statcto mjomc doingorconmuauon
o!wauomcd busmcssbyccoqorauonorks occrs, orbom, mcascs whm md
pmcshavcnotacqmdrits crcby, orto dissoIvcc coqorauon, ormaprocccdmg
byccoqorauonorbycstocHoIdcrs smginarqrcsmtauvc sutagamstcoccrs
ordmcmrs o!ccoqorauon!orvioIauono!cxauom.
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
2. No lton upon te busiess, puoses or powes of te corortion or upon
te powers of te stockoldes, ofcers or diectors, or te D e of eerise of such
powes, contaed i or ilied by te aicles may be asseed as between te
corortion or any stockolde ad any td person.
3. Any contact or conveyace, oteise lawl, made i te name of a cororton,
which is autored or rated by te dictrs, or is done w te scope of te
autor, actu or appaet, give by te directors, bids te corortion, and te
cororton acquires rts tCde, whete te contct is siged or is whol or i
pa eecutor.
[Pa 31(a): 177:1925; added 1949, 158; 1943 NCL 1630.01]-- S A 1961, 94;
1993, 950; 203)
NR5 78.1J8 Dlrccters and eccrs: xcrclsc efpewcrs; pcrfermancc ef
dudcs;prcsumpdens andcensldcradens;llabllltytecerperadenandsteckheldcrs.
L Directors ad ofces shall exercise teir powers i good fa ad wta view to
te iteests of te cororaton.
2. mpeforg tei rspecte dutes, directors ad ofcers a entled to rel on
iforation, opiions, reorts, books of acout or statements, incldig fncil
statements ad oter fancia data, tat ae preae or prsented by:
(a) One or mor ditors, ofces or employees of te cororaton reasonabl
believed to be rliable and cometent i te matts prea or presented;
(b) Couse public accountants, fcial advisers, vaton advises, ivestent
baes or oter persons as to mattes reasonabl believed to be wte preae' s or
preset's prfession or eert cometence; or
(c) A commtee on which te director or ofcer rlg teeon does not serve,
established i accordance w NS 7125, as to matts w te comt e's
desiated autori ad matters on which te comittee is reasonably beleved to m
condence,
- but a ditor or ofcer is not etled to rely on such iforaton, opiions, reorts,
books of account or statemets ute ditr or ofcer kowledge conceg te
matte i queston tat would cause rlnce tereon to be unwar ated.
3. Directors ad ofces, i deiding upon matts of business, ae presume to act
i good fai, on a ifored basis ad wa view to te iterests of te cororaton.
4. Ditrs ad ofces, i exercisig thei rspecte powes wa view t te
iterests of te cororton, may consider:
(a) The iterests of te cororaton' s emloyees, supplies, creirs ad customers;
(b) The eonomy of te State ad Naton;
(c) The iterests of te com ad of societ; ad
(d) The long-te as well as short-ter iterests of te cororton and is
stockolder, icludig te possii tat tese iterests may be best served by te
contued ideedece of te cororton.
5. Dictrs ad ofcers a not reued to consider te efect of a prposed
cororte acton uon ay pacu goup havig a iteest i te cororaton as a
domant factor.
6. The provisions of subsectons 4 ad 5 do not creat or autorie any causes of
acton aganst te cororaton or its diectors or ofcers.
7. Excet as oterwise provided i NS 35.230, 90.660, 950, 452.200, 452.270,
6
and 6, or uless te acles of incororaton or a mdmet teto, i
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
each case fed on or afer Octobe 1, 203, prvide for geate idividua liabiit, a
director or ofce is not idividul liable to te cororton or its stockolders or
crediors for ay daages as a resuh of ay act or faire to at i m or he capaci as a
director or ofcer unless it is proven tat:
(a) The diector's or ofcer's act or fa to act consttuted a breach of m or her
fiduci dutes as a diector or ofce; ad
(b) The breach of those dutes ivolve itentonal misconduct, faud or a kowig
violaton of law.
(Added to NS by 1991, 1 184; A 1993, 951; 199 15; 3
1 ; J
)
NR5 78.1J9 Dlrccters and eccrs: Dudcs,prcsumpdens andpewcrs whcn
cenfrentcdwlthchangcerpetcndalchangcmcenuelefceqeraden.
1 . Ecet as oterwise provided i subsecton 2 or te acles of icororton,
directors ad ofces confonted w a change or potet change i contol of te
corortion have:
(a) The dutes iosed upon te by subsecton 1 ofNS 78.138; ad
(b) The beefit of te presutons established by subsecton 3 of tat secton.
2. If dictors ad ofcers tae acton to rsist a change or poteti change i
contol of a cororton which iedes te exercise of te rit of stockolder t vote
for or rmove diectors:
(a) The diectors must have reasonable gouds to believe tat a treat to cororate
policy and efectiveness exists; ad
(b) The acton taen which ipedes te execise of te stockoldes' rts must be
reasonable i rlation to tat treat.
.. If tose fats ae found, te dietrs ad ofces have te beneft of te presuton
established by subseton 3 ofN 7.
3. The prvisions of subsection 2 do not appl t:
(a) Actons tat onl afet te te of te exerise of stockoldes' votg rigts; or
(b) The adopton or sigg of plans, m geents or istments tat deny rts,
prvileges, power or autor t a holder of a speied nuber or facton of shaes or
facton of votg power.
4. The provisions of subsectons 2 and 3 do not per diectors or ofcers to
abrogat ay rt confered by statute or te acles of incororaton.
5. Drectors may resist a change or potental change i contol of te corortion u
te dictors by a majorit vote of a quorum detee that te change or potent change
is opposed to or not i te best interst of te cororton:
(a) Upon consideton of the iterests of te cororton's stockoldes ad ay of
te mattes set fort i subseton 4 ofNS 7; or
(b) Because te aount or natu of te idebtedness ad ote obligatons to which
te cororaton or any successor t te prope of eier may become subject, i
conneton w the change or potent change in conto provides reasonable gounds to
believe tat, w a ronable tme:
(1) The assets of te cororton or ay successor would be or become less ta
its liabies;
(2) The cororton or ay successor would be or become isolvet; or
(3) Any volnta or ivolnta prceedig pusuat to te fede baptcy
laws conceg the cororaton or ay successor would be commeced by any peson.
(Added to NS by 19915; A
16
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
NR5 78.140 Rcstncdens en transacdens lnvelvlng lntcrcstcd dlrccters er
eccrs;cempcnsadenefdlrccters.
L A contt or oter tsacton is not void or voidable solel because:
(a) The contact or tnsaction is betwe a cororaton and:
(1) One or more of its directors or ofces; or
(2) Anoter cororaton, or association i which one or more of its dictors
or ofcers a diectors or ofcers or are fanciliterested;
(b) A coUn or iteested ditor or ofcer:
(1) Is present at te meetg of te boad of dictors or a comittee tereof
which autores or approves te contact or tnsaton; or
(2) Joins i te sigg of a wt e consent which autores or approves te
contact or tsacton pusut to subsecton 2 ofN 715; or
(c) The vote or votes of a common or itereste director ae counted for te puose
of autor or apprving te contct or tsacton,
uone of te circustances specied in subsecton 2 exists.
2. The ciumstances i which a contt or oter tasacton is not void or voidable
pursut to subsecton 1 a:
(a) The fact of te comon dictorsh, ofce or fancial itest is kow t te
boad of diectors or comt e, ad te boad or comt e autores, apprves or
ratifes te contact or tnsacton i good fat by a vote sufcient for the pupose
witout coutg te vote or votes of te comon or iterested diectr or diectors.
(b) The fact of te comon dictorsh, ofce or fancial iterest is kow to te
stockoldes, and tey approve or rt te contct or tsacton in good fait by a
major vote of stockoldes holdig a majorit of te votg powe. The votes of te
common or iterested ditors or ofces must be counted i ay such vote of
stockoldes.
(c) The fact of te comon dictorsh, ofce or fancial itest is not kow to
te dictor or ofce at te te te tnsaton is brougt befor te boad of diectors
of te cororton for acton.
(d) The contact or tnsaction is far a t te corporaton at te time i is autoried
or approved.
3. Comon or itereste directors may be counted i deteg te presece of a
quor at a meeg of te boad of directors or a comt e teof which autories,
apprves or rtes a contat or tsacton, and ute votes of te common or iteested
directors ae not counted at te meetg, te a major of te disitereste directors may
autore, apprve or rtif a contct or tnsaction.
4. The fact tat te vote or votes of te comon or itereste director or diectors
a not counted for puoses of subsecton 2 does not prohit ay autoraton,
approva or rtificaton of a contct or tsacton to be ge by wt consent
pursuant to subsecton 2 ofNS 78.315, rgadless of wheter te common or iteested
director sis such wtconsent or abstais i wg fom providig consent.
5. Unless oterwise provided i te acles of icorortion or te bylaws, te boad
of dictors, witout regad t pesonal iterest, may establish te comensaton of
directors for seices in ay capacity. If te boad of dictors establishes te
compesation of dietrs pusuat to t subsecton, such comesation is presued to
be fai t te cororton unless proven unfa by a preondece of te evidence.
[31(b):177: 1925; added 1951, 328]-- S A 1959, 683; 1969, 1 13; 1989, 872; 1991,
1218; 1993, 952; 1997, 698; 2Q3; 20
2415)
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
ANNLAL5TAND OTHRRQUMNT5;DFAUTDG
COR?ORATON5
NR5 78.150 Fmng rcqmrcmcnts; fccs; pewcrs and dudcs ef 5ccrctaQ ef
5tatc.
I . Acoqorauonorgcdpwsutto mcIaws o!m Statc shaI, onorbc!orcmc
Iastdayo!mc stmonm amc g o!i mcIcs o!mcoqomuonwmc Sccrct
o!Statc, lc wt mc Sccm o! Statc a Iist, on a !om mhcd by mc Sccm o!
Statc, conmg.
(a)Thcmco!mccoqomuon,
(b)Thcnmbco!mccoqorauon, i!kown,
(c) Thcms d txIcs o!mc prcsidmt, sccmd ucaswcr, ormc cqmaIcnt
mcrco[do!aImcdxcctorso!mccoqomton,
(d) Thc drcss, cmc rcsdmcc orbusincss, o!cach omcc d dxcctor Iistcd,
!oIlowgmcmo!mcomccrordxcctor,
(c)Thcm!omauonrcqmdpursuantto NS 77!0,d
( Thc sigatu o! omcc o!mc coqomuon cmg mt mc Iist a m,
compIctcdaccwatc.
2. ThccoqorauonshaInumcr, onorbc!ommcIastday o!thc monmm
whchmc crsdatc o!mcoqomuonoccurs mcachycm, W1mcSccmo!
Statc, on a!ommhcd bymc Sccrct o!Statc, nual Iist conmg aIo!mc
m!omatonrquircdmsubsccuon L
J. EachIistrcqmdbysubsccuon I or2mustbcaccopiby.
(a)Adccwtonundcrpmtyo!pqmtmccoqomtion.
(I)Has copIcdwmcpmvisons o!c7bo!NS,and
(2) AckowIcdgcs mt pursuantto N23 , ta acatcgory C !cIony to
kowgq ocany!ascor!orgcdmsmmmt!or gwmcOmcco!mc Sccmo!
Statc.
(b) Astatcmcnt as to whcmcrmc coqorauon a apubIcIymdcd copy. I!mc
coqomuona apubhcquadcd copany, mccoqomuonmustIisti CmmIndcxKcy.
Thc Sccrct o! Statc shaI mcludc on mc Sccm o! Statc' s mtmct wcbsxc mc
Ccnm!mdcxKcyo!a coqomuonpmvdpursuant to mpmagaph dmsmcuons
dcscnTmgmcm cmwhichammbcro!mcpubhcmayobtamm!omauonconcmg
mccoqorauonommc Sccu!cs dExcngcCommssion.
4. Upon gmcIistrqmcdby.
(a)Subsouon !, mccoqorauonshaIlpaytomc Sccmo!Statca!cco!$!25.
() Subsccton2, thc coqorauon shaIpaytomc Somt o!Statc, i!mc owt
rqrcscntcdbymctotanumbcro!sharcsprovidcd!orinmcartcIcs a.
$75,000 or Icss. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$!25
Ovcr$75,000andnotovcr$200,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . !75
Ovcr$200,000andnotovcr$500,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 275
Ovcr$500,000andnotovcr$!,000,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J75
Ovcr$!,000,000.
Iormcst$!,000,000. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J75
Iorcachadduona!$500,000ormtonmcrco! . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 275
Thcmaum!ccwhichmaybcchargcdpursutt pmgph(b) !or gmcnua
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 286
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
Iistis$! !, !00.
5. I!admctororomcco!acoqorauonrcsigs dmcrcsigationisnotmcctcd
on mc an u or mdcd Iist o!dmctors and omccrs, mc coqomton or mc msigg
dircctororomccrshaIIpaytomc Sccrctmyo!Statca!cc o!$75to mcmsqauon.
b. Thc Sccrcto!Statc shaII, 0days bc!ommc lastday !orNing cahan u list
rcqmd bysubsccuon 2, pmvdc to cach coqomuonwhich is rquxcd to copqw
mcprovisons o!@_!to_!, mcksvc, d which notbccomcdcmqucnt,
a noucc o! mc !cc duc pwsut to subsouon 4 and a mindc m Ic mc an u list
rcqmdbysubsccuon2. Irc o!anycoqorauonmrcccivcanouccdocs notcxcuscx
ommcpmmoscdbyIaw.
7. I!mcIistto bc Ncdpwsut mmcprovisions o!subsccuon ! or 2is dc!cctivcm
any mspcctormc !ccrcqmd by subsccuon 4 is notpad, mc Sccrctmy o!Statc may
rcmmcIist!orcomcuonorpaymmt.
8. A an u list!oracoqorauonnotmdc!amwhichisrcccivcd bymc Sccmo!
Statc morc m 0 days bc!orc xs duc datc shaI bc dccmcd amcndcd Iist !or mc
prcvious ycmand mustbc accopicdbymcappmpnatc!ccas pmvdmsubsccuon
4 !or ing. A paycnt submttcd pwsut to m subsccton docs not saus( mc
rcqmmcnts o!subsccton2!ormcycmtowhchmcducdatcisappIcabIc.
[Part !. !80.I25,A !2, I22, !J!, 408, !J! NCL [ !804|-S A !57, J!5,
!5, b84, !77,40!,!7, ! 85, !8J,b8, !85,2JJ, !8,7b, !I,24b0, !J,52,
!5, 20b, !7, 2808, J!2b, !_ bJ, !58!, J0!8, 200!_ 2!5, !J5, J!72, J!, 200J_
2,
, 2
V
@
Ss3,
!2, 224_,
,
,
)
NR5 78.152 Lst er statcmcnt te bc malntalncd at rcglstcrcd ecc er
pnnclpalplacc efbuslncss;rcqulrcmcntteasslstlncrlmlnal lnvcsdgaden;fallurc
te cemply;rc
uladens
!. mad
@
onto anyroords mquircd to bc kqtatmcrcgstccd omccpursuantto
@7,
acoqomuonmat is not apubIicIy mdcd coqorauon shaIImantam at xs
rcgstccdomccorpncgaIpwco!busmcssmmStatc.
(a)Acm cntIisto!ts owncrs o!rccord,or
(b)AstatWtmdicamgwhcrcsuchaIistismtam.
2. Uponmcrcqusto!mc Sccmo!Statc,mccoqomtonshaI.
(a) Providc mc Sccm o! Statc w thc namc d contact m!omauon o!mc
custodian o!mc Iist dcscrcdmsubsccuon !. Thc m!omauon rqmcd pursutm m
pmagphshaIbckqtcomdcntiaIbythc Sccrctaryo!Statc.
(b)Providcw mnoucctomc Sccrctmyo!Statcw I0days acanychangcm
mcm!omauoncontamcd mmcIistdcscnmsubsccton! .
J. Upon mc mqucst o!y Iaw cn!orccmmt agcncy in mc cowsc o!a cminaI
mvcsugauon,mc Sccmo!Statcmayrcqmcacoqorauonto.
(a) SubmmmcSccrcto!Stav,wJbusmcssdays,acopyo!mcIistmquircd
mbcmtamcdpwsutto subsccuon !, or
(b)Aswcy mtcnogatoqsubmttcdbythc Sccrctaryo!Statc thatWassistmmc
cnmvcsugauon.
4. I!acoqorauon !ails tocopqwyrcqmcmcntpwsutto subsccuonJ, mc
Sccm o! Statc may takc y auon ncccssmy, inckdmg, wiWout mtauon, mc
suspmsionormvocauono!mccoqoratc ch.
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 29/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
5. The Secreta of State shal not reistate or revive a chae tat was revoked or
suspeded pursuant to subsecton 4uess:
(a) The cororaton comlies w te reuemets of subsecton J, or
(b) The law enforement agency conductg te ivestgation advises te Secr of
State mreistate or re te cororte ch.
b. The Secreta of State may adopt rguatons to ate te prvisions of m
secton.
(Added to NS by 20115; A 202828)
NR5 78.15J Addldenal llng rcqulrcmcnts ferccrtaln cerperadens:Crltcna;
statcmcnt;fccs.
I . At te wof submt g ay list reued pusuat mN @!@, a cororation
tt meets te criteria set fort i subsection 2 must subm:
(a) The statemet requd pursuant to subseton J, accomaied by a declraton
uder penal of pe attesting tt te stateent does not conta ay mm
misreresentaton of fact; ad
(b) A fee of $!00,000, to be distuted i the m er provided pursuant to
subseton 4.
2. A cororaton must subm a statemet pursuant to m secton ute cororton,
icludig its pat and al subsidiries:
(a) Holds 25 peent or more of te share of te mket wm State for ay
product sold or distbuted by te cororaton wm State; ad
(b) H h, dug te previous 5-yea period, a tota of fe or mor ivestgatons
commenced agast te corortion, i pat or is subsidies i any jsdiction wm
te Um States, iclding al state and fede investgatons:
(1) Which conce ay aleged contct, combinaton or conspiracy i restt of
tde, as descred i subseton ! ofN 5, or which conce si actites
prohtbied by a substantlsi law of aoter jisdicton; ad
(2) Which resulted i te cororaton beig fed or otherwise peed or which
resuled in te cororton beig rquired m divest ay holdigs or beig uable to
acqu ay holdings as a conditon for te settlement, dismissal or resoltion of tose
ivestgatons .
J. A cororaton tat meets te criea set fort i subsecton 2 shall submit a
statement which includes te followg ifortion wrespect meah ivestigaton:
(a) The jrisdicton i which the ivestgaton wcommenced.
(b) A sum of te nature of te ivestgaton m te facts ad cicustances
sur ouding te ivestgation.
(c) If te ivestgaton rsuted i cr or civ litgation, a copy of al pleadings
fed i te ivestgaton by ay pa mte ligaton.
(d) A sum of te outcome of te ivestgation, icldig specic inforaton
conceg wheter ay fe or pe was iose agast te cororaton ad wheter
te cororaton was rquired mdivest ay holdings or was uble to acqu ay holdings
as a conditon for te settlemet, dismissal or resoluton of te investgaton.
4. The fee collected pursuant m subsection ! must be deosited i te Attorey
Genel' s Ataton Budget Account ad used solel for te puose of investgatg
ay aleged contct, combiation or conspiacy i restt of te, a descried i
subseton ! ofNS 58_0b0.
(Added to NS by 20927)
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 30/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
NR578.155 Ccrdcatc efauthemadente nansactbuslncss. If a cororaton
fed te mm or an u list i comlnce wt N _! ad paid te
approprate fee for te fg, te cacelled check or oter proof of paymet receied by
te cororaton consttes a cecate autor i to tnsact i busiess wm
State ut te last day of te mont i which te an ersa of its icororaton occurs i
te ne succeeding calenda yea.
[2. !80.!25, A !J!,408, IJ!NCL ! 805|-S A I5, b84, !8I, b2, !8J,
b8,!J, 5J, !_!Q,2I
!@,20
2
S Ss
I)
NR5 78.170 Dcfauldng ceQeradens: dcnmcaden; rclnstatcmcnt ef
ceQeradenwhlchlsunltwncrs'assecladen;pcnalty.
I . Each cororton which a rqured to mke a fig ad pay te fee prescred i
NRS 78.I50to 78. ! 85,inclusie, ad which refses or neglects to do so W0 te tme
provided shal be deeed i defauh.
2. Upon notcation fom te Adtator of te Real Estate Diision of te
Deaent of Busiess ad Industy tat a cororaton which H a u-owers'
associaton as defe i N ! I! ! or ! !faed to regste pursuat to N
! I@!!@or ! !or failed to pay te fees pusuat to N ! !@! !@or ! !,
te Secreta of State shal deem te cororton to be in default If, aer te cororaton
a dOd to be i defauh, te Administator notes te Secr of State tat te
corortion regstered pusuat t N ! !@! !@ or ! I@ ad paid te fees
pursuant to NRS ! !b.J! !55 or !!bB.b20, te Secreta of State shal reistate te
cororton u te cororaton comlies wt te requemets for ristatement as
provided in m secton ad N @!@ad @!.
J. For default tee must be added to te aount of te fee a penalty of $75. The fee
and pet must be collecte as provided i mchapter.
[4. !80.!25, A !J!,408, IJ!NCL ! 807|-S A I77, 40!, b0b, !7, I85,
!8J, b0, !85,2JJ, !8, 7b, !!, !2!, I5, ! I !J,200]J!7J,200J_ 2, 200J_
2@
Ss
2,]22!)
NR578.175 Dcfauldng ceQeradens:Dudcs ef5ccrctaryef5tatc;rcvecaden
efchartcrandferfclturc efrlghttetransactbuslncss;dlstrlbudenefasscts.
! . The Secreta of State shal notif, by prviding wtten notice to its regstered
agent, each cororaton deemed in default pursuat to NRS 78. I70.The wtnotce:
(a) Must iclude a stateent idicatng te aount of te f fee, petes icur ed
and costs reg upad.
(b) At te request of te rgisted agent, may be provided electncal .
2. On te fst day of te fst an iversa of te mont followg te mont i which
te fig was rquie, te ch of te cororaton a revoked ad its rt to tsact
busiess H forfeited.
J. The Secre of State shall comie a comlete list contg te naes of al
corortons whose rt to tsact business been forfeied.
4. The Secretay of State shl fortw not, by providig wt e notce to is
regsted aget, each cororaton specied i subsecton J of te forfeit of its charter.
The wtnotce:
(a) Must iclude a stateent idicatng te aout of te f fee, peties icur ed
and costs reg unpad.
(b) At te rquest of te rgisted agent, may be provided electncal .
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
5. If te chae of a cOIorton is rvoke and te rit to tnsact busiess is
forfeited as prvide i subsecton 2, a te prope and assets of te defaultg
domestc cOIoration must be held i tst by te directors of te cOIoration a for
isolvet cOIoratons, ad te sae proceedigs may be h w respect tereto as a
applicable to isolvet cOIortons. Any peson itereste may isttute prceeigs at
ay te afe a forfeire has been decla, but, ute Secre of State reinstats te
chae, the proceedigs must at once be dismissed ad a prpert rstored t te
ofces of te cOIorton.
b. Where te assets ae distuted, tey must be applie i te followg mne:
(a) To te paymet of te :g fee, pees icur ed ad costs due te State;
(b) To te paymet of te creditors of te cOIorton; ad
(c) Any bance rg, to distuton aong te stockoldes.
[part 5. !80.!25,NCL ! 808|-(NSA !57, !52, !5, 5, !7J, !02b, !77,b0b,
!7, ! 85, !!, !2!, I5, ! ! !J, 1, 12; ] 2@
Ss
2,
202
NR5 78.180 Dcfamdng ceqeradens: Cendldens and preccdurc fer
rclnstatcmcnt.
!. Ecet as oterwise provided i subsetons J and 4 and NRS 78. !52, te
Secr of State shall reistate a cOIoraton which has forfeite or which forfeits its
rt to tnsact busiess pusuant to te provisions of mchapter ad shal restor t te
cOIortion i rit t car on busiess i t State, and to exercise its cOIorae
privieges ad imus, uit:
(a) Fies w te Secretay of Stat:
(I)The list reuired by NRS 78. !50,
(2)The stateent reued by NRS _!, uapplicable; and
(J)The iforaton rquired pursut t N 7; ad
(b) Pays to te Secreta of State:
(I)The : fee ad pe set fort i NRS _!ad 7 for each yea or
porton teref dug which i failed t each requed an u lst i a tel m er;
(2)The fee set fort i NRS 78.I5J,uapplicable; ad
(J)A fee of $J00for reistatement.
2. When te Ser of State rstates te cOIoraton, te Secretay of Stat shall
issue to te cOIoraton a cecate of reistatement ute cOIoraton:
(a) Requests a cecate of reistatemet; ad
(b) Pays te requd fees pursut to subsecton 7ofN 7.
J. The Secreta of State shall not orde a reistatement uless a deliquent fees ad
pes have been paid, and te rvocaton of te chae occur d on by reason of
fa t pay te fees and pealtes.
4. If a cOIorate chae bee revoked pusuat to te provisions of t chapter
and red revoked for a peod of 5 consecutve years, te chae must not be
reistated.
5. Ecet as oterwise provided i NRS 78. ! 85, a ristatement pusuat t m
secton relates back to the date on which te cOIoraton forfeited its rgt to tsact
busiess unde te prvisions of m chapter m reistates te cOIorton's rt to
tnsat busiess as usuch rt had at a tes remaed i fore ad efect.
[b. !80.!25, A !27, 42, NCL !80|-S A !5, b0, !7J, !027, !75,477,
!77, 402, !85,2J4, !87!, !!, !220, !J, 5J, !5, ! ! !4, !7, 2808,_1,
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 326
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
JI7J,J!,200J_20mSpecial Session JJ,2007_ !J!b,24!b,2b45)
NR5 78.185 Dcfauldng ceqeradens:Rclnstatcmcntundcr elderncw namc;
rcguladens.
!. Excet as otese prvide i subsection 2,ua cororaton applies to reistate
or revie its ch but its n has been legalreseed or acqud by aoter acial
person fore, orgaed, rgistere or qued pursuat t te provisions of m tle
whose nae is on f wtte Ofce of te Secretary of State or reserved i te Ofce of
te Secretary of State pusut to te provisions of m te, te cororaton shall i is
applicaton for reinstatement subm i wg to te Secr of State some ote nae
under which i desies its cororate existence to be reistated or revived. If that name is
distiguishable fom a ote ns rserve or oterwise on fle, te Ser of State
shall ristate te cororaton under tat new nae. Upon te issuance of a ceate of
reistatement or re unde tat new nae, te acles of icororton of the applg
corortion shal be deemed t refect te new ne wout te cororton havig to
compl wtte provisions ofNS 78.J85,78.J0or 78.40J.
2. If te applg cororaton subms the wtten, ackowledged consent of te
aicial person havig a ne, or te person who has rserved a nae, which is not
distguishable fom te old nae of te applyig corortion or a new nae it has
submt, it may be ristate or reved under tat name.
J. For te puoses of m seton, a proposed nae is not distiguishable fom a
nae on fle or reseved name solel beause one or te ote contas distcte
letterg, a distcte mk, a tdCk or a tde n, or any combiaton of tese.
4. The Secretary of State may adopt regulations tat itepret te requts of m
secton.
[7.!80.!25,NCL ! 8!0|-S A !bI,4, !87, !057, !I, !22!, !J, 5J,
!7, 280, !!Q, , 2
VS Ss 3; 20 1,
24!_)
5TOCKANDOTHR5CLTU5;D5TRLTON5
NR5 78.191 "Dlstnbuden"dcncd. Ause i NS 78. !!to 78.J07, iclusive,
uless te context oterwise rquies, the word "distuton" meas a diect or idirect
tsfe of money or ote prope ote t i ow shares or te icur ce of
idebtedness by a cororaton to or for te benef of its stockoldes w respect t ay
of its shares. A distbuton may be i te for of a declaraton or payment of a dividend,
a puhase, rdemton or oter acquisiton of shas, a distuton of idebtedness, or
oterwise.
(Added to NS by !!, ! !85)
NR5 78.195 ssuancc efmerc than enc class er scncs efsteck; nghu ef
steckheldcrs.
! . If a cororaton desis to have mor t one class or series of stock, te acles
of icororaton must prescre, or vest autority i te boad of diectors to prscrie,
te classes, sees and te number of each class or seies of stock ad te votng powers,
desiatons, prefereces, ltons, restictons ad relate rits of each class or series
of stock If more t one class or seies of stck is autored, te acles of
icororaton or the rsoluton of te boad of directors passed pursuant to a provision of
te acles must prescrie a distguishig desiaton for each class ad series. The
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 33/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
vomg powcs, dcsgtons, prc!mccs, Imtauons, msucuons, rcIamc rgts d
dsmgushmgdcsgauono!cachcIass or socs o!stockmustbcdcscrmmcmclcs
o!mcoqorauon ormcrcsokuon o!mc bomd o!dmctors bc!orcmc issuancc o!sharcs
o!matcIassorscrcs.
2. P shmcs o!a sccs must havc vomg powcs, dcsQuons, prc!ccnccs,
muons, rcsmctons dmIatvc rigts dmtcaIwmosco!omcr shas o!mcsc
scrcs and, cxcqtto mc cxtmt omosc provd mmc dcscrguon o!mc scrcs, w
mosco!omcscrcs o!mcsamccIass.
J. Unlcss omcrwscprovdcdmmcmcIcso!mcoqomton, no stockissucd as m
padup may cvcrbc scsscd dmc mcIcs o!mcoqomuon mustnot bcmdcd m
mpmcuIar.
4. Anymtc, condton orw!orpaycnt o!dismuuons onycIassor socs o!
stockmaybcmadc dqcndmtuponany !atorcvcntwhchmay bcascmcdoutsdc
mc mcIcs o!mcoqomuon orthc rcsoIuuonprovdmg !ormc dismuuons adoptcd by
mcbomdo!dxcctors umcm cmwhch a!actorcvmt may opcratc uponmcratc,
conduon ormc o!paymcnt!ormcdsmuuons s statcd mthc tIcs o!mcoqorauon
or mc msoIuuon. Auscd mm subsccuon, "!act or cvmt" mcIudcs, wout muon,
mc cstcncc o! a !act or occw cc o! cvcnt, mckding, wiWout muon, a
dctmuon or acuon by a pcson, mc coqorauon tscI! or y govmcnt,
govmtaagcncyorpoIiucasubdivsono!agovmmt.
5. Thc provsons o!m sccuondo notrcsmctmc dmctors o!acoqorauon om
mactontoprototmcmtcrcsts o!mccoqorauondi stockoIdcrs,mcIudmg,but
not md to, opmg or sgng pws, m gcmmts or msmmmts mat nt or dcny
gts, pnviIcgcs, powcr or aumom to a hoIdcr or hoIdcs o! a spccmcd nwbcr o!
sharcs orpcncntagco!shaowcrshg orvotmgpowcr.
[! ! .!77.!25,A !2, 4!J, I4!,J74, !J!NCL !b!0|- SA !b!, !5, !85,
!787, !87, 577, !8, 87J, !!, !22!, !J, 54, !5, 207, ! !Q, !,
JI, 200J_ J08b, 200_ Ib75)
NR5 78.1955 stabllshmcntefmattcrs rcgarmng class erscncs efsteckby
rcseludenefbeardefmrccters.
!. I!mcvoungpowcrs,dcsgauons,prc!crcnccs,muons, rcsucuonsdrcIamc
rqts o!ycIs or scrcs o!stockhavcbccncstabIishcdbyarcsokuono!mcboardo!
drcctors pwsut to a pmvson m mc mcIcs o! mcoqomuon, a cmcatc o!
dcsqauon sctmg !orm mc rcsokuon d stamg mc nmc o! shmcs !or cach
dcsqauonmustbc sqcd byanomccro!mccoqoratonandI wiWmcSccmo!
Statc. A cmatc o!dcsgauon sgcd d Ncd pwsutm m sccuonmustbccomc
cccmcbc!omthcissuancco!y sharcs o!mccIassorsocs.
2. UnIcss omosc pmvid mmc mcIcs o!incoqorauon ormc cmatc o!
dcsgaton bcmg cndcd, uno sharcs o!a class or sccs o!smck cstabIishcd by a
rcsoIuuon o!mc bomd o!dxcctors havc bccn issucd, mc dcsqauon o!thc cIass or
scrcs,mcnwbcro!mccIassorsmcsdmcvomgpowcs, dcsQuons,prc!mnccs,
muons, rcsucuons d mIauvc rgts o!mc cIass or scrcs my bc cnd by a
rcsoIuuon o!mc bomd o!dxcctors pursuant to a cmcatc o!cndmmt N m mc
mncprovdcd insubsccuon4.
J. UnIcss omcsc pmvd mmc mtclcs o!ncoqorauon ormc cmatc o!
dcsqaton, usharcs o!acIassorsccs o!stockcstabIshbyamsoIuuono!mcbomd
o!dmcmrs havc bcm ssw, mc dcsgauon o!mc cIass or smcs, mc nmc o!mc
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
cIass orscrcs and mc vomg powcs, dcsgatons, prc!mnccs, Imtauons, rcsuctons
and rcIauvc rgts o!mc cIass or socs maybc mdcd byarcsokuono!mcboard o!
dircctors op u mc cndmmt s approvcd as provdcd in m subsccton. UnIcss
omcsc pmvdcd mmc tIcs o!mcoqorauon ormc cmcatc o!dcsgauon, mc
proposcdmdmcntadoptby mcbomdo!dztorsmustbc approv bymcvotc o!
stockoIdcrs hoIdmg shmcs mmc coqorauon cnmgmmm cxmscamajomo!mc
vomg powcr, or suchgcatcproporuon o!mc vomgpowcr as maybc mqurcd by mc
artcIcs o!mcoqorauonormccmcatco!dcsgauon, o!.
(a)ThccIass orsocs o!smckbcmgcndcd,and
(b) Each cIass and cach scrcs o!stockwhch, bc!omcndmcnt, s scnorm mc
cIass orsccs bcngamcnd as to mcpayt o!dsmuuons upondissoIuuon o!mc
coqo
}
ton, mgmdIcsso!y muons ormsucuonsonmc vomgpowco!mat cIass
orsmcs.
4. Acmatc o!mdmcnt to acmatc o!dcsqauonmustbc sqby
omcco!mccoqorauondcdwmc Sccrcto!Statcdmust.
(a) Sct!ormmc opnaIdcsgauondmcncwdcsgaton, umcdcsgauono!mc
cIass orsccs sbcmgamcndcd,
(b) Statc mat no shas o!mc cIass or scncs havc bccn ssucd orstatc mat mc
appmvao!mcstockoIdcrsrcqumpursuanttosubsccuonJhasbccnobtcd,and
(c) Sct!ormmcammdmcntto mc cIass or socs or sct!ormmc dcsgauono!mc
cIass or scncs, mc nmbcr o!mc cIass or scncs and mc votmg powcrs, dcsqatons,
prc!mccs,Imtauons,rcsmctons andrcIamcrqts o!mccIassorscrcs,asmdcd.
5. A cmcatc Ncd pursuant to subsccuon ! or 4 s cccuvc upon mg mc
cmcatcwmc Sorco!StatcoronaIatcdatc spccmdmmccmatc,whch
mustnotbc morcm0days acrmccmcatcs Ncd.
b. I!shas o!acIass orsccs o!stockcstabIishcdbyacmatc o!dcsgauonarc
not outstandmg, mc coqorauonmay c acmcav whch statcs matno sharcs o!mc
cIass or scrcs arc outstandmgand whchcontsmcrcsoIuuono!mcbomd o!dxcctors
aumomgmc wiWdrawal o!mc cmcatc o!dcsgauoncstabIismgmc cIass or scrcs
o! stock. Thc cmatc must idmm mc datc and cmatc o! dcsqauon bcmg
wiWdmw d must bc sgcd by an omccr o! mc coqorauon d Ncd w mc
Sccmo!Statc. Uponmgmccmcatcandpaymcnt o!mc!ccrcqmcdpursuantto
N
7,
almattcs contamcd mmc cmatc o!dcsqauonmgmdmg mccIass or
scrcs o!stockarccmtcdommcmcIcs o!mcoqorauon.
7. N7, @and]do notappqto cmcatcs o!cndmmt Ncd
pursutto msccuon.
(AddcdtoNSby!5,202,A200]!Jb2, J!,2005_2!77,2250)
NR5 78.19 Rcqulrcd andauthemcd classcserscrlcsefsteck;sharcs callcd
ferrcdc
tlen
!. Eac
coqorauonmusthavc.
(a)Onc ormorccIasscs orscrcs o!smsmatmgcmchavcwvomggts,
and
(b) Onc ormorccIasscs or scrcs o!smcs mattogwcarc muIcdtorcccvcmcnct
asscts o!mc coqorauonupondssokuon.
I!mcmcIcs o!mcoqomuonpmviAc!orooncclass o!stock,mat cIass o!stock
wtcd vounggts ands cnu tomccvcmcnctasscts o!mccoqorauonupon
dssokuon.
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11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
2. Thc artclcs o!incoqorauon, or amsoluuon o!mcbomd o!dmctors pursut
mccto,mayaumomconcormorccIasscs orscrcs o!stockmt.
(a)Havcspccw, condmonaIorImitcdvotingpowcrs, orno gtto votc, ccqtto
mccxtcntomoscprovdbymuIc,
(b)ArcrcmabIcorconvmIc.
(1) Atmc opuono!mc coqoraton, mcstockoIdcs oromcrpcson, orupon
mcoccm cncco!adcsqat cvcnt,
(2)Iorcash,mdcbtncss,sccmcs or omcpropm,or
(J)m adcsqat owt or m owt dctmin m accordcc wt a
dcsqatcd!omIaorbyrc!ccncctocxmsicdataorcvcnts,
(c) FuIc mc stockoIdcs to dismuuons cacuIatcd m y m cr, mckdmg
divdmdsmatmaybccwuIamc, noncwuIamc orpmwcwuIamc,
(d) Havc pm!crcncc ovcr y omc cIass or socs o! sharcs w rcspcct to
dismTuuons, mcIudmg dvidmds and dismuuons upon mc dissokuon o! mc
coqomtion,
(c)HavcparvaIuc, or
(!)Havcpowcrs, dcsqauons, pm!ccnccs,muons, rcsucuons drcIamcrigts
dqcndcnt upon y !act or cvcnt which may bc ascmcd outsidc o! mc acIcs o!
mcoqorauon ormcmsoIuuon umcm cmwhichmc!actor cvcnt may opmtc on
suchcIassorscrics o!stockis statmmcaclcs o!incoqorauonormcrcsoIuuon. A
uscdmm pmgaph "!actorcvmt' incIudcs,wout mtion, mccxistcncc o!a!act
or occm cncc o! cvcnt, mcIudmg, wmout muon, adcmuon or acuonby a
pcrson, thc coqorauon tscI! or y govmmt, govmcnta! agcncy or poIiuca!
subdvisiono!agovmt.
J. Unlcss omciscpmvidcd mmcacIcs o!mcoqomton ormamsoIuuono!mc
bomd o!dxcctors cstabIishmg a cIass or scrics o!stock, sharcs whch arc subjcct to
rcdcpuond whchhavc bcmca cd !ormdcpuonmcnotdOdto bcoutstandmg
sharcs !orposcso!vomgordctmgmctotanmbco!shmcs cnu!cd to votcon
amattconand crmcdatconwhch.
(a)Wrm mnoucco!rcdmtionhasboscnttomchoIdcrso!suchsharcs,d
(b)Asw sumccntto mdccmmcshas has bccnincvocabqdqostcd or sctasdc
to pay thc rcdmuon prcc to mc hoIdcs o! mc shmcs upon sm cndcr o! y
cmcatcs.
4. Thc dcscrguon o! vomg powcrs, dcsqauons, pm!crcnccs, mtons,
rcsucuons and rcIamcrqts o!mccIasscs orscrcs o!shmcs contcd mm sccuonis
notcxcksvc.
(AddcdtoNS by!!, ! !85,A!_ !58J,200]!JbJ,J!,200J_J08_
NR5 78.197 Rghts ef pcrsens helmng ebllgadens ef cerperaden. A
coqomton my pmviAc m ts acIcs o! mcoqorauon mt mc hoIdc o! a bond,
dcbcnturc or othcr obIigauon o! mc coqorauon may havc any o! mc gts o! a
stockoIdcrmmccoqorauon.
(AddcdtoNSby!87,574,A!J,55)
NR5 78.200 Rghuerepdenstepurchascsteck.
! . Acoqorauonmay cmatc dissucgts oropuons cnmgmchoIdcrs mcrco!
to purchasc ommccoqoration y shas o!ts stock o!y cIass or cIasscs to bc
cvidmccd by or m such msmmmt or msmmcnts a appmvcd by mc board o!
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 36/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
drcctors.
2. Thct uponwhch, mcmc orumcs, whch may bc mi!cd orwd m
dmauon, at orwm whch, and mcpncc orprccs,mcIudmg a!omIa bywhch such
prccorprccs maybcdctcmcd, atwhchany suchshas maybcpmhascd mmmc
coqomuonuponmccxcrcisc o!ysuchgtor opuonmaybcxcd d stat mmc
mcIcs o! mcoqorauon or m a msoIuuon or msoIutons adopvd by mc board o!
drcctors provdmg!ormccmatonand ssuco!mcgts oropuons,d, mcvcasc,
sct !orm or mcoqomtcd by rc!crmcc m mc nsmmcnt or msmmcnts cvdcncmg mc
gts oropuons.Thcjudgmto!mcboardo!dmcmrs asm mcconsdmton !orsuch
rqts oropuonsssucds concIusivcmmcabscncco!actu!aud mthcmsacuon.
J. Thcboardo!dxcctorsmayaumonzconcormorcomccrs o!mccoqorauonto.
(a) Dcsgatc mc pcsons to bc rogcnts o!rgts or optons crcatcd by mc
coqomton,and
(b) Oc mc nmcr o!rqts or opuons to bc rocivcd by thc pcrsons
dcsgatcdpmsuttopmagaph(a).
4. Thcaumorzauonpursutto subsouonJmustspcc(mcmumnumbcr o!
rqts or opuons mc omcc or omccrs may aw. Thc bomd o! dxcctors may not
aumomcomccrtodcsqavhmscI!orhcscI!as arccgcnto!mcrqts oropuons.
[!!(a).!77.!25,addcd!4, !58,!4JNCL !b!0.0!)SA!!, I22J, !J,
55, @ )
NR578.205 Fracdensefsharcs:ssuancc;altcmadvcstelssuancc.
! . Acoqorauon s notobhgatcd to but may sqd dckcr a cmcatc !oror
mcludmgaactono!asha.
2. mIcu o!sqgddcIvcng acmcatc!oramuono!asha, acoqorauon
may.
(a)PaytoanypcsonomoscmutIcdtobccomcahoIdcro!aacuono!asharc
amowt mchbason apcrshavaIuc, andmat valucormcmcthod o!dctm g
mat vc must bc spcc m mc mcIcs, pIan o! rcorgauon, pbn o! mcgcr or
cxchangc, rcsokuono!mcboard o!dxcctors, oromcrmsUtpursuttowhichmc
acuomshawouIdothcrwscbcssucd,
(b)Issucsuchadduona!acuono!asharc as s ncccsstomcrcascmc mcuona!
sharcto aWsharc,or
(c)Sgd dcIivcrcgstccdorbcmcrscrg ovcmcmu or!acsmIcsqatmco!
anomccro!mccoqomuonoro!its agcnt!orthatposc,cxchangcabIcasprovdcdon
mcscq !orWshacmcatcs, butmcscq docsnotmwcmchoIdcrtoy gts as
a stockoIdc cxcqt as provdcd on mc scq. Thc scrg maypmvdc mat t bccomcs
void wIcss mc gts o! mc holdcs mc cxcrcis w a spomd pcod d may
contam any omcr provisons or condmons mat mc coqorauon dccms advisabIc.
Whcncvcr yscrg ccascs to bc cxchangcabIc !orsha cmcatcs, mc shas mat
wou!d omcrwschavc bccn issuabIc as provdcd on mc scq mc dccmcd to bcmasury
sharcs wIcssmcscqcontams omcprovisions !ormcrdisposmon.
J. Any proposcd coqoratc aton matwouIdrcsm m omoncybcngpad or
scqbcmgissucdtostockoIdcrswho.
(a)Bc!ommcpmposcdcoqomvacuonbccomcs cccuvc, hoId !pmcnt ormorc
o!mcoutstandmgshas o!mcaotcdcIassorsccs,d
(b) WouId omosc bc cntitI to rcccivc amuono!ashmc ncchangc !ormc
canccauono!almcxoutstandmgsharcs,
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 37/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
is subjcctto mcpmvisons o!NS 2AJ00 to 2A500, ncIusvc. Hmcpmposcd
coqomtc acuon is subjcct to mosc provisons, y stockoldc who s obhgatcd to
acccptmoncyorscq ramc mmccvc aacuon o!a smc rcsutng mmmc aton
takcnpursuttom sccuonmaydsscnt maccordanccwmoscprovsons dobtam
paymmt o! mc !ax vc o! mc mcuon o! a sharc to whch mc stockoIdc wouId
omcrwscbc mti!Icd.
[! !(b).!77.I25, add !5J, ! 80|-S A !7, ! !b0, !J, 5b, 200] !J6,
g , ]], ]2!_, !
NR5 78.2055 Dccrcascmnumbcreflssucdandeutstandlngsharcs efclasser
scncs: Rcseluden by beard ef dlrccters; appreval by steckheldcrs; nghts ef
steckheldcrs.
! . UnIcss omoscprovd m mcmcIcs o!mcoqorauon, acoqorauon mat
dcsxcs to domascmcnumbc o!issucd d outstandng sharcs o!acIass orscncs hcId
by cach stockoIdc o!roord at mc ccctvc datc d timc o!mc changc wWout
concspondmgq dccmasng mcnumbcr o!aumomcd shas o!mc sccIass or scrcs
maydo so u.
(a) Thc bomdo!dxcctors adopts arcsoktonsctung!or0mc proposato dccrcasc
mcnumbcro!ssucdand outstandmgsharcs o!acIassorsccs,d
(b) Thc pmposa!s appmvcd by thc votc o!stockoIdcrs hoIdmgamajomo!mc
votmg powc o!mc acctcd cIass or sccs, or such gatcr proporuon as may bc
provdcd n mc mcIcs o!mcoqomuon, mgardlcss o!mtons or rcsuctons onmc
vomgpowcro!thc acctcdcIass orscrcs.
2. I!mcproposa!rcqmdbysubsccuon 1 sapprovcdbymcstockoIdcrs cnttlcd
m votc, thc coqomuon may rcssuc i stockn acordcc wmc pmposaIamc
cccmcdatcand mco!mcchangc.
J. Ecqt as omcrwscprovdcd in m subsccton, uaproposcd dccrcasc mmc
nwbco!ssucd d outstdmg sharcs o!any cIs or sccs wouId advcrscq or
chgcany pm!crcncc, oryrcIamc oromcrgt gvcntoy omcrcIass orsmcso!
outstandmg sharcs, mcn mcdccrcasc must bc appmvcd bymc votc, maddtonm y
votc omcrwsc rcqmd, o!mc hoIdcrs o!sharcs prcsmmg a majom o!mc vomg
powc o! cach cIass or scrcs whosc prc!ccncc orrqts arc advcscq acctcd bymc
dccrcasc, or suh gatcr pmporton maybc providcd mmc acIcs o!mcoqomton,
rcgardIcsso!mtauons ormsucuons onmcvomgpowcro!thc advcrscqacctcdcIass
orscncs.Thcdccrcascdocsnothavctobcapprovcdbymcvotc o!mchoIdcrs o!sharcs
rqrcscnting ama|omo!mc votmg powc o!cach cIass or scncs whoscprc!cmcc or
rqts arc advcscq cctcd bymc dccrcc umc mcIcs o!mcoqomuon spocaIq
dcnymcrqtto votconsuchadccrcasc.
4. Ay proposa!to dccrcascmc nwbcr o!issucddoutstandmg sharcs o!y
cIass orscrcs, uy, mat mcIudcspmvsons pursutto whchopmoncyWbcpad
orscqWbcssuto stockoIdcswho.
(a)Bc!ommcdccrcasc mmcnmbcro!sharcs bccomcs comc,hoId 1 pmcnt or
morco!thc outstandmgshaso!mcacctcIassorscrcs,d
(b)Womd omosc bccntitI to rcccivc amcuono!asharc n cchangc !ormc
canccauono!almcxoutstandmgsharcs,
is subjcctto thc pmvsons o!NS 2AJ00to 2.500, mcIusivc. I!mcpmposals
subjot to moscprovsons, any stockoldcwho is obhgatcd to accqt moncy or scq
ramcr m rocvc amcuon o!a sharc rcswng mmmcatontakcn pwsut m m
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 386
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
sccuonmay disscnt maccordancc woscprovisons and obtpaymcnt o!c !ax
vco!c mcuono!ashato whichthc stocHoIdcrwouId ooscbccnuI.
(AddcdtoNSby 1;
A
!
W
,
]
,
!@)
NR5 78.207 Changc m numbcr ef authemcd sharcs ef class er scncs:
Rcseludenbybeardefmrccters;apprevalbysteckheldcrs;rlghu efsteckheldcrs.
! . UnIcss oosc provd m cartcIcs o!mcoqorauon, acoqorauon at
dcsxcs to changccnmco!sharcs o!acIass orscrcs, uy, o!ts auom stock
by mcmasmg or dccmasingc nwbcr o!auomcd shas o!c cIass or sccs d
concspondm@incmsmg ordccmsmgcnumbco!issucd doutstandmgsharcs o!
csmccIassorsmcshcId bycachstocHoIdcro!rccordatccccmcdatcd umc
o!c changc, may, cxcqt as oosc pmvidcd m subscctions 2 d J, do so by a
rcsoIuuon adoptcd by c bomd o! dircctors, wout obmg c approva o! c
stocHoIdcrs.ThcrcsoIuuonmayaIsoprovdc !orachangco!cparvaIuc,uy, o!c
smcchssorscncs o!csharcs mcmascdordccmascd. Accccmcdatcdtimc
o!cchangc, ccoqorauonmayissucks smckmaccordanccccwm.
2. AproposaItomcrcascordccrcascc numbcr o!auomcd sharcs o!y cIass
or sccs, uy, at mcIudcs provisons pwsut m which opmoncyW bc pad or
scrWbcissucdtostocHoIdcrswho.
(a) Bc!omcmcmascordccrcascincnumbco!sharcs boomcs cccmc,mc
aggcgatc hoId !0 pmcnt or morc o!c outstandmg sharcs o! c acctcd cIass or
scrcs,and
(b)WouId oosc bccntitI to rcccivc amcuono!asharc in cchangc !orc
canccationo!alcxoutstandmgsharcs,
mustbcapprovcdbycvotc o!smcHoIdcrs hoIdingama|omo!cvomgpowcr
o!c acctcd cIass or smcs, or such gcatcr pmporuon as may bc provid m c
micIcs o!mcoqorauon, rcgmdIcss o!mtions or rcsmctions on c votmg powcr
crco!
J. cqt as ocrwisc providcd m m subsccuon, u a proposcd incrcasc or
dccrcascincnwbco!auomcdsharcs o!anycIassorscricswoudadvcrscqakor
changc anypm!crcncc ory rcIamc or ocr ritgvcn to y ocr cIass or sccs o!
outstandmg sharcs, cn c mcrcasc or dccrcasc must bc appmvcd by c votc, m
addxontoyvotcocrwiscrcqmd, o!choIdcs o!sharcsrqmscnmg amajoriqo!
cvomgpowcro!cachcIass orsccswhoscprc!ccnccorrits mcadvcscqm cctcd
byc mcrcasc ordccrcasc, rcgardIcss o!mtauons orrcsucuons onc vomg powcr
crco!Thcmcrcascordccmascdocsnothavcto bc approvcdbycvotco!choIdcrs
o!sharcs rqrcscnmg a majorty o!thc votmg powcr m cach cIass or scrcs whosc
prc!mccorgts a advcscIy acctcd byc mcrcasc ordorcasc uc mcIcs o!
mcoqorauonspccmcwdmycrtto vovonswhmcrcascordccmasc.
4. AnyproposaImincrcascordccrcasccnwbcr o!authomcdshas o!ycIass
or smcs, uy, at mcIudcs provisions pursuant to whchopmoncy W bc paid or
scrWbcissucdtostocHoIdcrswho.
(a)Bc!omcmcrcascordccrccincnmbco!smcsboomcscccmc, hoId !
pcrcmtormorco!coutstandmgsharcs o!cacctcdcIassorsmcs,and
(b) WouId oosc bc cntkI m rcccwc aacuon o!as in cchangc !orc
cccIIatono!alo!cxoutstandmgsharcs,
is subjcctto c provisons o!Nto], mcIusivc. !!cproposaI is
subjotm oscprovisions, any stocHoIdcwho is obIigatcd to accqtmoncyor scr
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 39/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
ramcr m mcvc amcuon o!a sharc msukng ommcactontmcn pursut to m
sccuonmay dssmt maccordancc wmoscprovsons d obtpaymcnt o!mc !
vco!mc mctono!ashamwhchmc smckoIdcrwouIdomoscbccntxI.
[Pm b.!77.!25, A !5!, 28|-S A !5, b88, !!, !224, !J, 5b, !5,
208, !7, b, !!@, _ , ]_, ! )
NR578.209 Changclnnumbcrefauthemcdsharcs efclass erscncs:Flllng
andc0ccdvcncssefccrmcatcefchangc;amcndmcntefardclcs eflncerperaden.
L Achgcpwsutto@_snotccctvc wuacmcmgmmcOmcc
o!mcSccrctary o!Statc o!acmcatc, sgcd byan omccro!mccoqomuon, sctmg
!orm.
(a)Thccw cnt nmbcro!aumorzcdshas d mcpmvc, uy, o!cachcIassor
scrcs,uy, o!shasbc!ommcchangc,
(b)Thc nmbcro!aumonzcd sharcs dmcpmvc, uy, o!cachcIass orscrcs,
uy, o!shas acrmcchgc,
(c)Thcnmcro!sharcs o!cachacctcdcIassorscrcs,uy,mbcssucdamc
chgcmcchangc!orcachssucdsharco!mcsccIassorscrcs,
(d) Thcpmvsons,uy, !ormcssucco!mctonaIsharcs,or!ormcpaycnto!
moncyormcssucco!scrgto stockoIdcs omoscmti!Icdtoamcuono!asharc
andmcpcrcmtagc o!outstandmgsharcs cctcdmccby,d
(c)Thatyrcqmdappmvalo!mcstockoIdcsbcmobtcd.
Thc provsons m thc tIcs o! ncoqorauon o! mc coqorauon rcgardmg mc
aumorzcd numbcr d pmvc, uany, o!mc changcd cIass orsmcs, uany, o!sharcs
shaIIbcdccmcdmdcd as provdmmcccrtmcavatmccccuvcdatcandtmco!mc
changc.
2. UnIcss mcrcasc or dccrcasc o!mc numbcr o!authorzcd sharcs pursuantto
@_s accopIsh by acton mt omoscmquxcs an mdmcnt m mc
mcIcs o!mcoqomuon o! mc coqorauon, such an mdmcnt s not mqurcd by mat
sccuon.
J. Acmatccd pwsutto subsccton ! s comc uponmgmc cmatc
W1mc Sccmo!Statc oruponaIatcr datcspomcd mmc cmcatc, whchmustnot
bcmomm0daysamccmcatcs Icd.
4. I!acmatccdpwsutto subsccton ! spccmcs ccctvcdatc,mcbomd
o!dmcmrsmaymtcmccccuvcncsso!thc cmcatcbyrcsoIuton.Acmatco!
muonmust.
(a) Bc cd w mc Sccrct o! Stav bc!om mc cccmc datc spccm m mc
cmcatcIpwsnttosubsccuon !,
(b)Idcnmmc cmcatcbcngtmtcd,
(c)Statcmatmccccmmcsso!mccmatcbcmmvd,
(d)Bcsqcdbyanomcco!mccoqomton,d
(c) Bc accopancdbymc!cc mqurcdpursuanttoN_.
(AddcdtoNSby!7, b4,A201, g,]2!@)
NR5 78.211 Censldcradenfersharcs: Authenty efbeardefdlrccters;c0cct
efrccclpt;cer
eratc acdenpcndlngrccclptlnfuturc.
L Thc
!, /, ]2l
!, !)
NR5 78.J52 Vedng nghts: ?crsens heldlng steck ln Educlary capaclty;
pcrsenswhescstecklsplcdgcd;jelntewncrs efsteck.
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 57/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
I . AposonhoIdmg stockmaducw capacq is cnutlcd to votcc srcs so
hcId.
2. Aposon whosc stockis pIcdg is cnwIcd to votc, unIcss mc pIgc c
pIcdgor h cprcssqcpowcrcd c pIcdgccto votc c stock, mwhch casc onq c
pIcdgccorcproxyo!cpIcdgccmayvotccstock.
3. !!ss orocrsowtcs havingvotingpowcrstand o!mcordmcnamcs o!
two ormorc pcrsons, whco ducrcs,jomttcnants,tcnants mcommonoroosc,
or Btwo ormorc posons havc c smc ucwrcIauons rcspccmgc smcs or
sccwcs, unIcssc sccrct o!ccoqomton is gvcn wttcn notccto c conm
and is hcd wa copy o!c msmmcnt orordcrappoinmg cm or crcamg c
rcIauons,cxactswtrcspccttovomghavcc!oIIowgcot:
(a)!!onqoncvotcs,atpcrson' sactbmds aII,
(b)!!mommoncvotcs,thcatchosmbyamjoro!votcs binds a!I, or
(c)!!mom moncvotcs,butcvotcis cvmspHonypmcmmatto, cach
!acuonmayvotccsrcs orsccwcs inqucstonpropordona.
(AddcdtoNSby200_!356,A200_3!
NR578.J55 5teckhelders'prexes.
! . At any mccmg o!c stocHoIdos o!any coqorauon any stocHoIdo may
dcsqatc ocr poson or pcrsons to act as a proxy or proxcs. !! y stocHoIdcr
dcsqatcs two ormompcrsons to actaspmxics, ama|omo!osc posons pmscnt at
c mcctmg, or, B onq onc is pmscnt, m at onc h and may cxmisc a!I o!c
powos con!m cd by c stocHoIdo upon aI o! c pcrsons so dcsqatcd unIcss c
stocHoIdcrpmvidcs ocrwsc.
2. Wmoutmgc D crmwhchastocHoIdomay auorucocrpcrson
or posons to act !or m or hcr as pro
3
pursuant to subsouon !, c !oIIowmg
constcva!dmcmsbywhichastocHoIdomaygntsuchauom.
(a)AstocHoldomay sqawgauormganoopcrsonorposonsto at!or
morhcraspmxy. Thcpro
3
maybcImcdtoacuonondcsqatcdmatks.
(b)AstocHoIdomayauomcanoopcrsonorposonsto act!ormorhcr as
proxybyusmtmg orauormngcusmssono!cIccuonicrccordmcpcrson
who Wbccholdoo!cproxy ortoamwhchsoIcxsproxics orUcagcnt who is
auomcd bycposonwho WbcchoIdcr o!cpro
3
to rocvc cmnsmsson.
Any swh cIouonc mcord mustcmcr sct !orm orbc submttcd wt m!omauon om
whchxcbcdctcmcdatccIccuoncrccordwasauombycstocHoIdcr. !!
t is dccd at c cIccuonic rccord is vd, c pcrsons appomtcd by c
coqomtonto cowt c votcs o!stocHoIdos d dcmc cvad o!proxcs d
balots or oo pcrsons mgosc dctmuons must spccc m!omauonupon
whchcyrchcd.
3. Any copy, comncaton by clccmnc msmisson or othcr mIiabIc
rqroducuon o!c mcord crcatcd pursuantto subsccuon 2 may bc subsututcd !orc
oprccord !oryposc!orwhichc oprccord cou!d bc uscd, Bc copy,
communcauon by cIccuonc msmsson or ocr producuon is a copIctc
rqroducuono!cmmconroord.
4. cqt as ocrwscprovidcd in subsccuon 5, no suchproxy is vd c
cpxauon o!6mons omc datc o!xs crcauon unIcss c stocHoldospccmcs inx
cImgo!wc !orwhch xisto conunucm!orcc,whchmaynotcxco 7ycms om
c datc o!xs crcauon. Subjcct to csc rcsmcuons, yproxypmpcrqcrcat is not
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 586
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
rcvokcddconunucs mm!orccdcotunuI.
(a)Anoomsmt ormsmissonrcvokgxorapmpcrqcrcatproxybcmg
a Iato datc is Ncd w or mnsm to c som o!c coqorauon or ocr
pcrsonorposons appoint byc coqomuon to count c votcs o!stocHoIdos d
dctcmccvdiqo!proxics dbaIots,or
(b) Thc stocHoIdcr mvokcs c pm
3
by atkdmg c mccting and vomg c
stocHoIdcr' s sharcs mpcrson, mwhch cc, y votc ctby c pcrson or pcrsons
dcsqatcd byc stocHoIdoto actas apmxy orproxcs mustbc dismgmdcd byc
coqomtonwhcncvotcs acowtcd.
5. Apro
3
s!Ibc dccmcd m cvocabIc Bc w m auomauon statcs matc
proxyis incvocablc, butis m vocabIc op !oras Iong as x is coupIcd w mtcrcst
sucicnt m Iaw to support m vocabIc powo, incDdmg, wout Imtauon, c
appommcnt proxy o!apIcdgcc, apcrsonwho purchcd oragccd to purchcc
shmcs, a crxor o!c coqorauon who cxtcnd t cmdt undo tcms rcqmg c
appommt, an cpIoycc o!c coqorauon whosc cpIoymcnt conmct rcqms c
appommcnt or ap to avoung agccmmt crcatcd pursuant to subsouon J o!NS
7.
Unlcssocrwscprovidcdmcpro
3
,apm
3
madcincvocablcpursuanttom
subsouon ismvok whcnc intmstwwhich xis coupIcd is cxtmguishcd, but c
coqomton my honor c proxy untiI noucc o! c cxmguishmcnt o! c pm
3
is
rcccivcd by c coqoraton. A uans!crcc !orvc o!smcs subjcct to an incvocabIc
proxymay mvokc c proxy Bc ms!mc did not kow o!i cxistmcc whcn c
mns!occ acqmcdc shas d c cxistmcc o!c m vocabIc appommcnt was not
notcd conspcuousq on c cmcatc rqmscnmg c sharcs or on c in!omauon
statcmcnt!orsharcswoutcmcatcs.
6. !!y stocHoIdcr subjcct m apmpcrq crcatcd m cvocabIc pm
3
attmds y
mccmg o!c stocHoIdcrs !or which c auomauon gnts auom to act on c
stocHoIdcr' s bchaI! at c mccmg m a pmxy or proxcs, wIcss cpmssq ocrwisc
provdcdincw mauomauonorcIccmmc mord.
(a)OpcproxyorproxicsmayhavcdcxociscaIcpowcrs o!cstocHoIdcr
atcmccmg,and
(b)Opavotco!cpm
3
orproxcs maybcrcgard byccoqomtonwhcnc
votcsmccountcd.
29.!77.!925, A !95J, !80]-S A !99!, !2J2, !997, 702, ],
2l82)
NR5 78.J0 Cmmdvevemg.
! . ThcmcIcs o!mcoqomuono!y coqorauonmayprovdcmtataIclccuons o!
dircctors o!ccoqomuoncahhoIdcro!stockposscssmgvomgpowcriscn to as
myvotcs as cquaIcnwbcr o!his orho sharcs o!stockmIicdbyc nwbcro!
dircctors to bccIcct, dmatchoIdcro!stockmay cta o!hisorhcrvotcs !ora
smgIc dxcctor ormay dismTutc mmong c nmcrto bcvotcd !oror ytwo or
morc o!cm, as c hoIdo o!stock may scc . To cmisc c gt o!cwuIamc
vomg, onc or morc o!c smcHoIdcrs rqucsmg cwu!amc vomg must gc wttcn
nouccto cprcsidmtor somo!ccoqorauonmt cstocHoIdcrdcsircs matc
vomg!orccIccuono!dmmrsbccumuIamc.
2. Thcnotccmustbc gcnnotIcss m48 howsbc!orccwc mcd !orhoIdmg
c mcctmg, Bnoucco!cmccunghasbcm gvcnatIcast !0days bc!orcc datco!c
mccmg, d ocrwiscnot Icss mhows bc!omc mccung. At c mccmg, bc!orc
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 59/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
te connencement of votg for te electon of dictors, an anouncemet of te givig
of te notce must be made by the ch or te secreta of te meetg or by or on
behalf of te stckolder gg te notice. Notice to stockolders of te rquient of
msubsecton must be contaed i te notce cag the meeting or i te proxy mt
accomayg te notce.
30.!77.!925,NCL !629|- SA !969, !0!,!99!, !233, !993, 963)
NR5 78.J5 Vemgmsts.
L A stockolde, by agemet i wg, may tnsfe m or her stock to a votig
tstee or tstees for te puose of conferg te rigt to vote te stck for a peiod not
exceeig !5years upon te mad condions terein stated. Any ceates of stock
so tnsfered must be sur edered ad cacelled ad new cecates for te stock issued
t te tste or tstees i which i must appea tt tey ae issued pursuat t te
ageeent, ad i te ent of owneshi i te proper books of te cororton tat fact
must aso be noted, ad tereuon te tstee or tstees may vote te stock so
tnsfer ed dug te m of the ageemet A duplicate of every such ageemet must
be mi te rgisted ofce of te cororaton ad at a tes dug its m be open
t ispection by ay stckolder or m or he attorey.
2. At any te wit te 2 yeas next preeding te expition of an agement
entere ito pursuant to te prvsions of subsecton !, or te expiton of a eion
of tat ageeent, ay benefia of te tst may, by wagmt wte tstee
or tstees, extd te duton of te tst for a te not t exceed !5yeas te
scheduled expiton date of te or agement or te latest extesion. An extesion is
not efective unless te tstee, befor te eition date of te or agement or te
latest extension, fes a duplicate of te ageemet providig for te exion i te
regsted ofce of te cororation. An ageement providig for a extesion does not
afect te rits or obligations of ay person not a pa to tat agemt
J. An agement betwee two or more stckolders, Bi wg ad siged by tem,
may prvide tat in eercisig any votg rits the stock held by tem must be voted:
(a) Pursut to te provisions of te agmt;
(b) A tey may subsequntly ae; or
(c) maccordace with a prcedure ageed upon.
4. An ageement ented ito pursut to te provisions of subsecton 3 is not
efecte for a m of mor m !5 yeas, but at ay te w te 2 yeas next
preceig te exiraton of te ageeent te paes tereto may extend its duraton for as
my additon periods, each not to exceed !5yeas, a tey WB
5. An ageement entere ito pusuat t te provisions of subsecton ! or J is not
ivalidated by te fact tt by i ters its duton is more m!5years, but its duraton
shall be deemed aeded to confor wit te provisions of mseton.
22.!77.!925,A !929, 4!3, !95!, 328|S A l987, 582, !989, 976, l99!, !234,
!993, 96)
NR5 78.J70 Nedccte steckheldcrs.
!. If under the provsions of m chapte stockolders areuied or autorized to
take ay acton at a meetng, te notce of te meetg must be in wg ad sige by te
president or a vice prsident, or te secretay or a assistant secr, or by such oter
mm person or pesons as te bylaws may prescrie or per or te diectors may
desiate.
ww.leg.stt.nv.usIivisionLegaILibraryIRS/RS-078.hb1 60/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
2. Thcnouccmuststatcmcposcorposcs !orwhchmcmccmga caIcd,mc
umcwhcn, d mcpIacc,whichmaybcwor woutm Statc, whcrcxato bchcld,
d mc mcs o!cIouonic communcatons,By, bywhchstockoIdcs d proxcs
shaIIbcdccmcdtobcprcscntmpcrsondvotc.
J. Acopy o!mc noucc mustbcdckcrcd pcrsom , mcd postagc prqd or
gvcn as providcd m subsccuon 8 to cach smckoIdcr o!mcord cnttlcd m votc atmc
mccmg not Icss m !0normorc mb0 days bc!orc mc mccmg. I!mIcd, xmustbc
dircctcd to mc stockoIdcr at m orhcr addrcss as t appcars uponmc rccords o!mc
coqomton, donmc mg o!y suchnouccmc soccmcco!acopIcv, d
mcmco!mcnouccbcginstomommcdatcuponwhchmcnouccadqosxmmc
maiI !or mnsmisson to mc stockoIdcr. Pcrsona! dck o!y such noucc to y
omcc o!a coqorauon or associauon, to y mcmbcr o!a md-IiabiIq copy
magcd by i mcmbcrs, to y mgc o! a mtcd-habuty copy mgcd by
mgcs, to any gmmpcr o!apcs ortoymstcc o!amst consututcs
dck o! mc noucc to mc coqorauon, associauon, m-Iiabw copy,
pcs ormst.
4. Thcmclcs o!incoqorauon ormcbyIaws may rcquxc mat mcnoucc bc aIso
pubhshcdmoncormorcncwspapcrs.
5. Nouccdckmd ormcdtoastockoIdcmaccordccwmmcprovisons o!
m sccuon d mc pmvisons, By, o!mc mcIcs o!mcoqorauon ormcbyIaws a
sumcicnt, mmmc cvcnto!mcms!cr o!mcstockoIdc' sstocksuhdckcqor
mgand bc!orc mcholdmg o!mcmccmg tanotncccsstodcIvc ormInoucc
o!mcmccmgtomcms!cmc.
b. Unlcss omcmscprovidcd mmcacIcs o!mcoqomtonormcbyIaws, Bnotcc
arcqmcdtobcgm, undcanypmvisono!mchaptcrormc mcIcs o!mcoqorauon
orbyIaws o!ycoqorauon,to ystockoIdcrto whom.
(a) Noucco!twoconsccutvc nualmcctings, and aIInotccs o!mccmgs oro!mc
mo!acuon bywconscntwout amccmgmmc smckoIdcrdmgmcpcrod
bctwcmmosctwoconsccumcnua!mccmgs,or
(b)AII, dat Icasttwo,paymmts scntbyst-cIass mo!dwidcnds ormtmston
sccmcs dmga!2-monmpcrod,
havcbccnmmcd addrcsscdtomcstockoIdcratm orhcr addrcss as shownonmc
rccords o!mc coqomton d havc bccn m undckcrabIc, mc gg o! mcr
nouccs m mc stockoIdcr a not rquxcd. Any acuon or mccmg takcn or hcld wmout
noucc to sucha stockoIdc mc sc ccctas Bmc noucc B bogvcn. I!y
such smckoIdcr dckcrs to mc coqorauon a w noucc sctmg !orm m or hcr
cm mtaddrcss,mcmqmrcmcntmatnouccbc gvmmmc smckoIdcrammstat.I!mc
acuontakcn bymc coqorauonH suchas to rcqummc mgo!acmcatcundcanyo!
mcomcrsccuonso!mchaptcr,mccmcatcncnotstatcmat nouccwnotgcnto
pcrsons to whom nouccw not rqmrcd to bc gcn pursut to m subsccuon. Thc
gvmg o! mcr nouccs to a stockoIdc a sNI rcqum !or y noucc rucd as
undckcrabIcBmcnouccwasgvcnbycIccmnicmnsmssion.
7. UnIcss mc mcIcs o!mcoqorauon orbyIaws omoscmquxc, d cxcqtas
omcrwscprovidcd mm subsccuon, BastockoIdcrs' mccung a |owcd to omcr
datc, w or pwc, noucc nccd not bc gm o!mc datc, w orpIacc o!mc adjowcd
mccmgBmcymc nowc atmcmccmg atwhichmcjomcnt atakcn. Hancw
rccord datc a mcd !ormc adjowcd mccmg, noucc o!mc adjowcd mccung mustbc
gvcnto cachsmckoIdcro!mcordaso!mcncwrccorddatc.
ww.leg.stt.nv.usIivisionLegaILibraryIRS/RS-078.hb1 61/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
8. Anynotccto stockoIdcrs gcnbymccoqorauonpursuantto yprovisono!
mchaptcr, Q 92 o!NRS,mcmcIcs o!mcoqorauonormcbyIaws iscccuvcB
gvcnbya!omo!cIccuonc mnsmisson conscntcd tobymcstockoIdctowhommc
noucc is gm. Thc conscnt is rcvocablc by mc stockoIdcr by w m noucc to mc
coqomuon. ThcconscntismvokcdB.
(a) Thccoqorauon is wablc to dckcbycIccuonc mnsmissontwo consccutvc
nouccsgvcnbymc coqomuoninacordccwmcconscnt,d
(b) Thc bw to dcIvcr by cIomnc msmission bccomcs kown to mc
sccm, assistant sccrctary, mns!cagcnt or omcagcnto!mc coqorauonrcsponsIc
!ormcgvmg o!noucc. Howcvcr, mcinadvCt !rc to ucat mcmabwto dckcr a
nouccbycIomnc msmissionasarcvocauondocs notmvadatc y mccungoromcr
acton.
9. Nouccgcnpursutmsubsccton8shaIbcdccmcdgvmB.
(a) By !acsmcmacmc, whm dircctcd to anumbc at whchmc stockoIdcr has
consmvdto mccvcnotcc,
(b) By cIccmmc mI, whcn dxcct m cIccmmc m addrcss at whch mc
stockoIdcrhconsmtcdto rcccvcnotcc,
(c) By a posmg on an clccuonc nctwork mgcmc W1 sqmatc notcc m mc
stockoIdcro!mcspccmcposting, uponmcIatcro!.
(I)Suchposmg,d
(2)Thcgvmgo!mcsqmatcnoticc,and
(d)Byyomcr!omo!cIccmnicmnsmisson,whcndxcctcdmmcsmckoIdcr.
mmc absmcc o!mud,amdavx o!mc sccm, assistant sccm,ms!cagcnt
or omc agcnto!mc coqomuon mat mc notcch bccn gcn by a!omo!cIccuonc
mnsmissonisprima!acccvidcncco!thc!actsstatcdinmcamdavx.
!0. A uscd in m sccuon, "cIccuonc msmisson" mcs any !om o!
commwicauonnotdmctIymvoIvmgmcphyscalmnsmissono!papcrmat.
(a) Crcatcs arccordmatmaybcrctam,rcucvcd d rcvcwcdby amcgcnto!mc
comauon, d
(b)Mybcdztqrqmduccd mpapc!omby mcmcgicnt mroQ an automatcd
proccss.
27.!77.!925, A !94!, ! !0, !93! NCL !626|- S A !99!, !235, !993, 965,
!g!@, @)
NR5 78.J75 Walvcr efnedcc. Whcncvcr anynoucc whatcvcr is rcqum to bc
gvcn wdcr mc provisions o!m chaptcr, a wc mmo!in a sq wWg orby
mnsmisson o! cIccuonc rccord by mc pcrson or pcsons cnttlcd m mc noucc,
whcmcbc!orcorcmcmcstatmcrcm, shaIbcdccmcdcqmacntmccto.
Pm92.!77:l925,A!929,4!3,NCL !69l|-SA
3
ACQL5TONOFCONTROLLDGDTERE5T
NR5 78.J78 Appllcablllq; lmpesltlen efsnlctcrrcqulrcmcnts; pretccden ef
ceQeradenandlts steckheldcrs.
!. Thcpmvisons o!@_to7, mcIusivc,appqtoy acquisiuono!a
conuowgmtccstmissmgcoqoratonwIcssmcmcIcs o!mcoqomuonorbyIaws
o!mc coqorauon m ccct on mc !0m day !oIIowg mc acquismon o!a conmImg
mtcrcstbyacqumgpcrsonprovidcmtmcprovisions o!moscsccuons do notappq
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 626
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
to mccoqomuon orto acquismon o!a conuowg mtccst spccmcby typcs o!
cxismgorft stockoIdcs,whcmcrornotidcnucd.
2. Thc mcIcs o!mcoqoraton,mcbyIaws orarcsokuonadoptcdbymc dmctors
o! mc issumg coqomton my mosc smctcr mquircmcnts on mc aquismon o! a
conuowg mtccst m mc coqorauon m mc provisons o!@_ to @,
mcluswc.
3. Thcprovisonso!NS78.378to 78.3793, mcIusivc, do notrcsmctmcdxcctors
o!issuingcoqorauonomtgactontoprotcctthc mtcrcsts o!thc coqorauond
ts stockoIdcs,inckdmg,butnotmtcd to, adopmgorsqingpbns, m gcmcnts or
msmmcnts matntordcnyrigts,prviIcgcs,powcr oraumorxym ahoIdcrorhoIdcrs
o!aspccmcdnmco!shas orpmcntagco!shaowncshg orvomgpowcr.
(Addcdto NS by !987,755,A!989, 877, !g!
,
3; !
0
)
NR578.J781 DcEnldens. A uscdm@_to@, incIuswc,unIcssmc
contct omosc rqmcs, mc words d m dccd m @@ to @ ,
mcluswc,havcmcmcgs ascrmmmmmoscsccuons.
(AddcdtoNSby!987,756)
NR5 78.J782 "Acqulnng pcrsen" dcEncd. "Acqumg pcnon" mcs y
pcrson who, mdvdu or m associauon wi!h omcrs, acquircs or ocs to acquxc,
dircctq or mdxcctq, a conming mmcst m issmg coqorauon. Thc mdocs not
mcludcanypcsonwho,inmcordrycoursc o!busmcss andwoutmtcnt toavod
mc rqmcmmts o! @_ to @, inckswc, acquircs voting sharcs !or mc
bcnco!omcs, mmspccto!whchmcpcsonis not spomcaaumomcd to cxcrcisc
ordmctmc cxcrcisco!vomgrigts.
(AddcdtoNSby!987,756)
NR5 78.J78J "Acqulslden" dcEncd.
!. Ecqt as omcrwiscprovdcd insubsccuon2, "acquisiuon"mcans thc dxcctor
mdztacquismono!aconmwgmtcrcst.
2. "Acquiston"docsnotmcludcyaquismono!shmcsmgood!,dwWout
anmtmtto avoid mcmqumcnts o!@_to@, incIuswc.
(a)By aqumgpcrsonaumomcdpwsutm@_m@ mcksvc,
m cxmisc vomg ngts, to mc cxtcnt mat mc ncw acquiston docs not rcsm m mc
acqmgpcrsonobmgaconuowgintccstgcatcrmmtpniousqauthomcd, or
()Pwsutto.
(I)ThcIaws o!dcscmtddismuuon,
(2)Thcm!orccmcnto!ajdgcnt,
(3)Thcsatis!actono!aplcdgcoromcrsccwqmtmst,or
(4) Amcrgc, cxchangc, convcrson, domcstcauonormrgmuon ccctcd m
compncc w mc provisions o! N 72, 92A2o to 2A24Q, mcIuswc, or
92A
2
towhichmcissumgcoqomuonisapmy.
(AddcdtoNSby!987,756,A!99!, !236, !995, 2099,200_!372, 3!99)
NR5 78.J784 "Centrel sharcs" dcEncd. "ConuoI sharcs" mcs mosc
outstandmgvomgshmcs o!issmgcoqorauonwhchacqumgpcsond mosc
pcrsons acmgmassociauonwi!h acqumgpcson.
!. Acqmmacquismonorocrtoacquircmacquisuon,and
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 636
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
2. Acqmw0days immcdiatcqprcccdmgmc datc whm mc aqmgpcrson
bcccacqmngpcrson
(AddcdtoNSby!87,75b)
NR5 78.J785 "Cennelllng lntcrcst" dcEncd. "Conuowg intccst" mcs mc
owcs o! outstandmg vomg sms o! an issmg coqoration sumcimt, but !ormc
provisons o!NS7878 to 78.J7J, incksivc, to cnabIc mc acqmng pcson, dxcctq
ormdmctIydindividuormassociauonwtomcrs,tocxcrcisc.
L Onc-ormorcbutIcssmonc-d,
2. Onc-d ormorcbutIcssmnamajorq,or
J. Amajonqormorc,
o!aImcvomgpowcr o!mccoqorationmmccIcctiono!dircctors.
(AddcdtoNSby !87,75b)
NR578.J78 "Falrvaluc" dcEncd. "Fa vc" mcs avcnotIcssmnmc
cstprccpcr shapad bymc aqmgpcrsonmaquismon.
(AddcdtoNS by!87,75b)
NR5 78.J787 "1ntcrcstcdsteckheldcr" dcfmcd. "mtcrcstcd stockoIdcr mcs
a pcrson who dircctq or mdxcctq cxcrciscs vomg gts m mc shmcs o! issumg
coqomtiondwhois.
L A acqmngpcrson,
2. A omccroradircctoro!mccoqorauon,or
J. A cpIoycco!mc coqorauon.
(AddcdtoNSby!87, 757,A!_ !588)
NR5 78.J788 "1ssulng cerperaden" dcfmcd. "Issumg coqomuon" mcs a
coqomtonwhchisorgcdmmStatcdwhich.
L H 20 ormorcstockoldcs o!roord,at Icast !00o!whomhavcaddmsscs m
m StatcappcangonmcstockIcdgcro!mccoqomtion,d
2. DocsbusincssmmStatcdmcyormrougan tcdcoqorauon.
(AddcdtoNSby!87, 757,A!8, 877, !_!_ )
NR578.J789 Dcllvcryefecrer's statcmcntbyacqulnng pcrsen;centcnu ef
statcmcnt A acqmgpcsonwho has mc orocr tomc acquisiuon o!a
conuowg mtccst m issmg coqorauon may dcIivcr an omr's statcmcnt m mc
rcgstccd omcc o!mc coqorauon Thc aqm pcrsonmay mucst m mc statcmcnt
mt mc dxcctors o!mc cotporauon caI a spccn! mccmg o!mc stockoIdcrs o!mc
coqomtion, as providcdm@7. Thcstatcmcntmustsct!orm.
L ArcciU!mtmcstatmcntis gcnpursuttomsccton,
2. Thcnamc o!mcacqmgpcsond o!cvpcrson sociatcdwmorhcr
mmcacquismon,
J. Thc nmcro!sharcs mycIass o!votingsccmcs ow, as o!mcdatco!mc
statcmcnt, bymc acqmgpcsondcachpcrsonwtwhomhcorshc is associatcd, or
whichmcacqmgpcsonmtcnds toaqm,
4. Thcpmcntagco!mcvotingsccmcs o!mccoqomtonowncd, o!mcdatco!
mc statcmcnt, by mc acqmg pcson d cach pcrson w whom hc or shc is
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 6/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
associatcd, orwhchmcacqmgpcsonmtcndstoacquxc,and
5. I!mc acqmgpcrsonhas notyct acqumd mc sccmcs o!mc coqorauon, a
dodcscqtonof
(a)Thctm sdcondiuons o!mcproposcdaquismon, d
(b)Thcmcansbywhchanyrcqmcdconsidcauon, danymdcbtcdncssmcm cdto
consw tcmcmnsacton, mcto bcpad.
(AddcdtoNSby!87,757,A!J,bb)
NR5 78.J79 Vedng nghts ef acqmnng pcrsen; mccdng ef steckheldcrs;
statcmcntste accempanynedccefmccdng.
! . A acqumg pcson d mosc acmg massociauon w acqmg pcson
obtamonIysuhvomgngts mmcconuoIsharcs as mc con!cmbyamsoktono!mc
stockoIdcrs o! mc coqomton, approvcd at a spccia! or an u mccung o! mc
stockoIdcs.
2. I!acqumgpcrsonsorqucsts mocor's statcmmtdcIvmdpwsutto
NS78.J78,and umcacqmgpcsongvcsundmgtopaymc ccnscs o!mc
mcmg, mc dxcctors o! mc coqorauon sha , w !0 days acr dcIvcy o!mc
statcmcnt, caIa spoiamccmg o!mc stockoIdcs m doc mc vomg rqts m bc
accordcdmcconuoIsharcs.
J. Anoucco!anymcmgo!stockoIdcs atwhichmcqucsuono!vomggts isto
bcdctminmustbcaccopanicdby.
(a)AcopIctccopyo!mcomr' sstatcmcnt, and
(b)Astatcmcnt o!mcboard o!dxcctors o!mc coqorauonsctmg !ormmc posuon
o!mc bomd wt rcspcct to mc acqmsxon or, ux is mc casc, stating mt mc bomd
mmcsnorccommcndatonconcmgthcmattcr.
4. Aspoiamccmgo!stockoIdcrs ca cdpursuantto msouon.
(a)MustnotbchcIdbc!ommccirauono!J0days amcdcIwcryo!mcocror' s
statcmcnt,unIcssmcstatcmmtconts arqucstmatmcmcctingbchcId sooncr.
(b) Must bc hcId w 50 days a mc dcIvcry o!mc statcmmt, unIcss mc
acqmgpcrsonomoscagcs mw!ngmatmcmcmgmaybchcIdamtw.
5. I!mcocror's statcmcnt docs notmcludc arcqustmat a spoiamccmg bc
calcd, mc qucsuon o!vomg gts must bc prcscntcd to mc ncxt spccia or
mccmgo!mcstockoIdcrs.
(AddcdtoNSby !87, 757)
NR5 78.J791 Appreval ef vedng phts ef acqmng pcrsen. Excqt as
omciscpmvidcdbymc mcIcs o!mcoqomtono!mc issmgcoqorauon, amsokuon
o!mc stockoIdcrs nmgvoung gts to mc conuoI srcs acquxcd byacqmg
pcrsonmustbcappmvcdby.
I . ThchoIdcrs o!amajomo!mcvomgpowco!mccoqomuon,d
2. I!mcacquisiuonwouIdadvcscIy cor changc anyprc!ccncc oranyrcIamcor
omcr gt gcn to any omc cIass or smcs o!outstandmg sms, mc hoIdcs o!a
majomo!cahcIassorsocs cctcd,
cxckdingmoscsrcs as towhchanymtccstcdstockoIdcrcxmiscsvounggts.
(Addcd toNS by !87, 758, A I!, !2Jb, !!, 1, .l2; 2Q
J08)
NR578.J792 Rcdcmpdenefcentrelsharcs.
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 656
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
L I! so providcd m mc mcIcs o!mcoqoraton or mc byIaws o!mc issumg
coqomuonmccct on mc !0mday !oIIowgmc acquisiuon o!aconuowgmtccstby
acqmngpcrson, mcissmgcoqoraton maycaI!ormdcpuono!not Icssm aII
mcconuoIsrcsatmcavcmgcprccpad!ormcconuolsharcs,!.
(a) A ocror'sstatcmmtisnotdcIvccdwmspcctto mc acquisiuon as pmvidcd
m@7 onorbc!orcmc !0mdayamc acquismono!mcconuoIsharcs,or
(b) A ocror' s statcmmt is dckcrcd, but mcconuoI sharcs arc not accordcd m
vomggts bymc stockoIdcrs.
2. Thc issmg coqoraton shaIl caI !or mdcmpuon w J0 days a mc
occur cco!mccvmtprcscncdmpmgph (a) or (b) o!subsouon !,and mcsharcs
mustbcrcdodwb0dayscmcca.
(AddcdtoNSby !87, 758,A!8, 877)
NR5 78.J7J Rlghts efdlsscndng steckheldcrs. UnIcss omcrwscprovidcd m
mcmcIcs o!mcoqomtonormc byIaws o!mcissmgcoqorauonmccctonmc I0m
day!oIIowmgmcacquistono!aconuowgmtcrcstbyacqumgpcrson,i!mcconuoI
shmcs aaccordcd mvomgrigts pursntto@_to@, mclusivc, d
mc acqmngpcrsonhacqmcd conuolsmcs wamajoriqor morco!aImcvotmg
powc, anystockoIdc, as matmis dccdinNS 2AJ25, omcrmmc aqmg
pcrson, whosc sharcs a notvotcd m !avor o!aumomg vomg rigts !ormc conuoI
sharcs may disscnt m accordcc wt mc provisons o! @90 to 9,
mclusivc,dobtampaymcnto!mc! vakco!hs orhcrsharcs.
(AddcdtoNSby!87,758,A!8,877, !J, bb,2
,
}
)
ANDMNTAND RE5TATEMENTOFART1CLE5 OFDCOR?ORATON
NR5 78.J80 Acndmcntefardclcsbcferclssuanccefvedngsteck.
L At Icast two-tmds o!mc mcoqorators or o!mc bomd o!dmctors o!y
coqomuon, i!novomgstocko!mccoqorauonhbccnissucd, maycnd mcmclcs
o! mcoqorauon o!mc coqoraton by sqg d Nng wt mc Sccrct o! Statc a
cmcatc mding, modg, chgmg oratcrmgmcmcIcs, mwhoIc orinpmt. Thc
cmcatcmuststatcmat.
(a)Thc sqcrs mcrco!aatIcasttwo-ds o!mc mcoqorators oro!mcboard o!
dircctors o!mccoqomton, and statcmcc o!mccoqomton,d
(b) A o!mc datc o!mc cmatc, no vomg stocko!mc coqorauon h bccn
issucd.
2. AcmcatcIcd pwsuanttomsouonis cccmcuponmgmccmcatcw
mcSccrctary o!Statc oruponaIatc datc spccmmmccmcatc, whchmust notbc
morcm0days acmc cmatcisl.
J. I!acmcatc spccmcs cccuvcdatcdi!novotmgstocko!mccoqorauon
h bccnissucd, mc bomdo!dircctors maymtcmc cccmmcss o!acmcatcby
Nngacmcatco!tmuonwmcSccmo!Statcmat.
(a)Idcnmcsmccmcatcbcmgmtcd,
(b)Statcsmtnovoungstocko!mccoqorauonhbccnissucd,
(c)Statcsmtmccccmcncss o!mccmatchbcmmtcd,
(d)IssqcdbyatIcasttwo-ds o!mcbomdo!dircctors o!mccoqorauon,d
(c)Isaccopancdbymc!cc rquxcdpursuanttoNS _5.
4. T sccuondocsnotpcmmcinsmono!anymatvrnotmcon!onntywm
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 66/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
chaptc.
[Pmt b.!77.!25, A !5!, 28|-S A !5, b8b, !!, !2Jb, !J, bb, @
, !_!_, g, _]
, 2!4)
NR5 78.J85 5cepc efamcndmcnts.
L Any coqomuonmay md its mcIcs o!mcoqomtionm my o!mc!oIIowmg
rcspots.
(a)Byaddmontoi coqoratcpowcrs mdposcs,ordmuuonmcco[orbom.
(b) By subsuon o!omcr powcrs md poscs, m whoIc or mpm, !ormosc
prcscncdbyi mcIcs o!mcoqomuon.
(c) By mcrcasmg, dccmasing orrccIassi[ng i aumorzcd stock, bychangg mc
nmbc, pmvc, pm!crcnccs, or mIativc, pmcgatmg, optionaI or omcrgts, or mc
qmcatons, Imtauons or msucuons o! such ngts, o!i shas, or o!my cbss or
scrcs o!my cIass mcrco!whcthcr ornot mc shmcs mc outstandmg at mcmc o!mc
cndmcnt, or by changg shmcs wm pm vc, whcmcr or not mc shas mc
outstmdmg at mc mc o!mc cndmcnt, mm shas wout pmvc or by changg
shmcs wiWout pm vc, whcmcr or not mc shas mc outstandmg at mc mc o!mc
amcndmcnt, mm shaswmpar v, cmcwiWorwiWoutmcrcasmgor dccrcasmgmc
nmbc o! sharcs, and upon such basis as may bc sct !orm m mc cmcatc o!
amcndmcnt.
(d)Bychangingmcnco!mccoqorauon.
(c)Bymgmyomcchangcorakmton mi mcIcs o!mcoqomtonmatmay
bc dcsxcd.
2. Psuhchangcs oruons maybccovdbyonc cmatc o!mdmt,
but my mcIcs o!mcoqomuonso amcnd, chmgcd or crcd my cont op such
provisions as xwouId bcIawmI andpropcto msctin opmcIcs o!mcoqorauon
pursut to @@ m @, umcopmcIcs wcrc sqcdmd I atmc
tmco!mgmccndmmt.
[Pmt 7.!77.!25, A !J!,4!5, !J7, 8, I4, !58, !4J NCL !b0b|-S A
!8, 878,!!, !2J7, !!@, @ _
] )
NR578.J0 Amcndmcntefardclcs acrlssuanccefsteck:?reccdurc.
L Excqtas omcrwiscprovid m@@, cvcqdmcntto mc acIcs o!
mcoqorauonmustbcmadcmmc!oIIowmgD c.
(a) Thc bomd o!dxcctors must adopt a rcsoIuuon sctmg !orm mc mdmcnt
proposcd m cimcr caII a spcciaI mccug o!mc smckoIdcrs muucd to votc on mc
amcndmcnt or dircct mt mc proposcd cndmmt bc consdmd at mc ncxt an u
mccmgo!mcstockoIdcrs mti!cdtovotconthc cndmmt.
(b)At mcmccmg,o!whichnouccmustbcmto cachstockoIdcrcnutIcd mvotc
pmsnt to mc provisons o!m sccton, avotc o!mc stockoIdcrs cnuIcd to votc m
pcrsonorbypmxymustbctakcn !ormdagstmcproposcdcndmmt. I!xappcars
upon mc cmvassg o! mc votcs mat stockoIdcs hoIdmg shas in mc coqorauon
cnmg mcm m cxccisc at Icast a majom o! mc vomg powcr, or such gcatcr
proporuon o!mc vomg powcr as may bcrcqum mmc casc o!a votc by cIasscs or
scrcs,asprovidcdmsubsccuons 2md4, or maybcrqmcd bymcpmvsons o!mc
mcIcs o! mcoqorauon, havc votcd in !avor o! mc cndmmt, m omccr o! mc
coqomtionshaIsqacmatcsctmg !ormthccndmmt, or sctung!ormmcmclcs
o!mcoqorauonas cndcd, andmcvotcbywhchmcmdmcntw adoptcd.
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 67/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
(c)ThccmcatcsosqcdmustbcIwiWmcSccmo!Statc.
2. Ecqt a omcrwisc providcd m m subsccuon, uy proposcd mdmcnt
wouId vcrscqakc or chgc yprc!crmcc or y rcIamc or omcrngt gvmm y
cIass orscrcs o!outstandmg sharcs, mcn mccndmcntmustbcapprovcdby mcvotc,
maddmonto mc uvcvotcomosc rcquircd, o!mchoIdcrs o!shmcsrqmscnmg
a majonq o! mc votmg powcr o! cach cIass or scncs advcscIy acctcd by mc
amcndmcnt mgmdIcss o!mtons or msucuons on mc vomg powc mcmL Thc
amcndmcnt docs not havc to bc approvcd by mc votc o! mc hoIdcs o! sharcs
rqrcscnting ama|omo!mc votmgpowc o!cach cIass or scncs whoscprc!cmcc or
rqts arcadvcscIy cctcdbymcamcndmcntumc arucIcs o!mcoqomuon spomcaIq
dcnymcrqtto votconsuchanmdmcnt.
J. Provisonmaybcmadcmmc mcIcs o!incoqorauonrcqmg, mmc casco!y
spccmcd mdmcnts, abrgcproporton o!mc vomgpowcr o!smckoIdcrs manmat
rcqmdbymsccuon.
4. D mnt scncs o!mc sccIass o!sharcs do notconsvdm mnt cIasscs o!
sharcs !ormc posco!vomgbycIasscs cxcqt whcn mc scncs is advcscq cctcd
byamcndmcntmadm crmtm cmnomcrsocs o!mcsccIass.
5. Thc rcsoIuuon o!mc stockoIdcs appmvmg mc proposcd cndmmt may
provdc that at y mc bc!orc mc cccmc datc o!mc amcndmcnt, notwstandmg
approvao!mcproposcdcndmmtbymc stockoIdcrs,mcbomdo!dxcctorsmay,by
rcsoIuuon, abdonmcproposcdcndmmtwiWoutmcactionbymcsmckoIdcrs.
b. AcmcatcIcd pursutto subsccton ! is comc uponmg mccmcatc
wiWmc Sccmo!Statc oruponaIatcr datcspomcd mmc cmatc,whichmustnot
bcmommn0daysammccmcatcis Icd.
7. I!acmcatc Ncd pursutm subsccuon ! spccmcs cccmcdatc dumc
rcsoIuuon o!mc stockoIdcs appmving mc proposcd mdmcnt providcs mat mc
bomd o!dxomrs may abdon mcproposcd mdmcnt pursutto subscction 5, mc
board o!dzmrs may mtc mc cccuvcncss o!thc cmcatcbymsoIutondby
Nngacmcatco!tmuonwmmc Sccrcto!Statcmat.
(a) ls Icd bc!orc mc cccmc datc spccmcd in mc cmatc Icd pwsuant to
subsouon!,
(b)Idcnucs mccmcatcbcmgmtcd,
(c)Statcsmat,pwsuttomcrcsoIuuono!mcsmckoIdcrs,mcbomdo!dxomrs is
aumomcdtomatcmccccuvcncsso!mccmatc,
(d)Statcsmatmccccmcncss o!mccmcatchbcmmtcd,
(c)Issqcdbyomcco!mccoqomuon,d
(JIs accopanbyamg!cco!$!75.
[Pmt 7.!77.!25, A !J!,4!5, !J7, 8, I4, !58, !4J NCL !b0b|-S A
!5, b8b, !7!, ! !0!, I7, J5, !!, !2J8, !J, b7, !7, 70J, ! IQ, @
!J74, J!74, J!b, J!, 200J_225, J!00, 200J_ 20m S_ccw Scsson_ J4, 2005_ 2I84,
202
NR578.40J Rcstatcmcntefamclcs.
!. Acoqorauonmay mstatc, ormd d mstatc, masmgIc cmatc mc cnwc
tcxt o!ts acIcs o!mcoqomuon a mdcd by Nng wiW mc Sccm o!Statc a
cmcatc mmc m cr providcd mm sccton. I!mc cmcatc atcn or mds mc
artcIcs m any m c, t must copq wmc provisons o!NS _8_80, ]8_85 d
7,
a appIicabIc.
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 686
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
2. I!mc cmcatcdocsnotcormd mc tIcs,xmustbcsqbyomccr
o!mc coqomuond statcmatmc omccrhbcmaumomcdto sqmccmcatcby
rcsoIuuon o!mc bomd o!dmctors opt onmc datc statcd, d mat mc cmcatc
comtqscts !orm mc tcxt o!mc mcIcs o!mcoqorauon as mdcd to mc datco!mc
cmcatc.
J. Thc!oIIowmgmaybcomttommcrcstatcd mcIcs.
(a)Thcmcs,addrcsscs,sqaturcs dackowIcdgmts o!mcincoqorators,
(b) Thc ncs and addrcsscs o!mcmcmcs o!mcpastdprcscnt bomds o!
dircctors,d
(c)Thc m!omauonrcqmdpursuttoNS77.JI0.
4. Whmcvcr acoqomuon a mqum toIc acm copyo!its mclcs, muU
mcrco!t may Nc acm copy o!mc most rocnt cmcatc mstatmg ts mcIcs as
amcndcd, subjcct to mcpmvisons o!subsccton 2, togcmcr wcm copcs o!a
cmcatcs o!amcndmcnt cd subscqucntto mc mstatcd mcIcs d codcopics o!
a cmcatcs suppImcntarymmc opnaImcIcs.
5. AcmcatcIcd pursuanttomsouonacccmcuponmgmccmcatcw
mcSccrctmy o!Statc oruponaIatc datc spccmmmccmcatc, whchmustnotbc
morcm0days acmc cmcatca l.
(AddcdtoNS by!5, b82,A!85, !78, !8, 77, !5, 2!00, !7, 70,200]
J
,
J
,
2@@
Ss3; ]
2!@,)
2
COMBDAT1ON5WDTERE5TED 5TOCKOLDER5
NR5 78.411 DeEnldens. As uscd m@@! ! to@ , mcIuswc, ucss mc
contcxt omcsc rquircs, mc words d m dc m NS 78.4!2 to 78.4J2,
mcluswc,havcmcmcgs ascrtommmmoscsccuons.
(AddcdtoNSby!!, !200)
NR5 78.412 "A ate" defmed. "A tc" mcs a pcson mat dztq, or
mdztq mroug onc or morc mtmcdwcs, a conuocd by, or a wdcr common
conuoIW1, aspccmcdpcrson.
(AddcdtoNSby!!, !200)
NR5 78.41J "Asseclate" deEned. "Assocatc," whm us m mdicatc a
rcIauonswypcrson,mcs.
! . Anycoqorauon ororgmuono!whchmatpcrsona omccrorpcora,
dircctq ormdxcctq, mc bmcciaI owcr o!!0pmcnt ormorc o!y cIass o!vomg
shmcs,
2. Anymstoromcrcstavinwhchmatpcrsonhasubstanm!bcncciaImtccstor
asto whchmatpcnonscrvcs asmstccormasmducwycapaty, d
J. AnyrcIauvc or spousco!matpcrson, or y rcIamc o!mc spousc,who h mc
schomc as mtpcson.
(AddcdtoNSby!!, !200)
NR5 78.414 "BeneEclal ewner" deEned. "BcncciaI owcr "whcn uscd w
,
rcspotmysharcs,mcs apcrsonmt.
!. mdivduaIy orW1ormrougyo!ts tcs orassociatcs,bmcwows
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 69/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
mcsharcs,dmctIyormdircctq,
2. mdvdIyorwth ormroQanyo!xs tcs orassociatcs,ms.
(a)Thcngtto acqmrcmcshmcs,whcmcrmcgtiscxcrcisabIcimmcdiatcqorop
acrmcpassagc o!mc,undcry agccmmt, m gcmcntorundcstandmg,whcmcr or
notmwrtmg, oronmccmisco!rigts toconvcrtorcxchgc, wm tsoropuons,
oromosc,butapcsonisnotconsidcrcdmcbcncciaIowcro!sharcstcndcrwdcr
an oc !or atcndc or cxchangc mdc by mc pcson or any o!m or hcr tcs or
associatcs unuImctmdcrcd sharcs aaccqtcd!orpurchascorcxchangc,or
(b)Thc gttovotcmcsharcs wdcry agcmt, gmcnt orwdcrstanding,
whcmc or not in wg, but apcson is not consdcr mc bmccw owcr o!y
shmcs undcrm pmgaph uthc agccmmt, m gcmcnt or undcstdmg to votc mc
sharcs ascs soIcIy mm amvocabIcproxy orconscnt gmmrcsponscto asoIicxaton
madcmaccordanccwmcappIcabIcrcguIatonsundcrmc SccumcsEchgcActd
is not mcn por0bIc on a SchcduIc lJD undcr mc Sourucs Exchangc Act, or y
compmbIcorsucccssorrcport, or
J. H any agcmcnt, m gmcnt orundcrstanding, whcmcornotmwg, !or
mc puqosc o! acqmg, hoIding, voung, cxcqt voug undcr a rcvocabIc pm or
consmtasdcscncdmpmagph(b)o!subsccton2, ordisposmgo!mcsharcswy
omcr pcrsonwho bmccw ows, orwhosc tcs or associatcs bmccw ow,
dircctqormdmctq, mcsharcs.
(AddcdtoNRSby!!, !200)
NR5 78.41 "Cemblnaden" dcncd. "Combinauon,"whmuscdmrc!cmccto
yrcsidcntdomcsuc coqomuond y mvrcststockoIdcro!mcrcsidcntdomcstic
coqomton,mcsyo!mc!oIIowg.
!. Any mcrgcr or consoIdauon o!mc msidcnt domcsuc coqomuon or y
subsidwo!mcrcsidcntdomcstic coqorauonw.
(a)ThcmtcrcstcdsmckoIdcr, or
(b) Any othcr coqorauon, whcmcr or not tscI!an mtcrcstcd stockoIdc o!mc
rcsidmtdomcstic coqoraton, whchis,orammcmcrgcorconsoIidauonwouIdbc,
tcorassociatc o!mcmtccstcdsmckoIdcr.
2. Any sac,lcasc, cxchangc, mortgagc, pIcdgc, mns!coromcr disposuon, monc
msacuonorascrcs o!usactons, to orwm mcmtcrcstcd stockoIdcoryamtc
or associatc o!mc mtcrcst stockoIdcr o!asscts o!mcmsdcnt domcsuc coqorauon
oranysubsdnryo!mcrcsdcntdomcsuc coqorauon.
(a) Havmg aggcgatc mkct vaIuc cqual to 5 pcncnt ormorc o!mc aggcgatc
mkct valuc o! a mc asscts, do on a consoIidatcd basis, o! mc msdcnt
domcsuc coqorauon,
(b) Havmg aggcgatc mkct valuc cquaIto 5 pmcnt or morc o!mc aggcgatc
mkctvco!a mcoutstdmgshmcs o!mcrcsdcntdomcstc coqorauon, or
(c)Rqmscnug !0pcrccntormorc o!mccmgpowcr ornctincomc, dctmncd
onaconsoIidavdbasis, o!mcrcsidmtdomcsuc coqorauon.
J. Thcissuccormns!crbymcrcsdmtdomcstc coqorauonorysubsdwo!
mc rcsidcnt domcsuc coqorauon, moncmsacuon or a scrcs o!msacuons, o!y
sharcs o!mc msidmt domcsuc coqorauon or y subsidw o!mc rcsidcnt domcsuc
coqomton mat havc aggcgatc mkct valuc cquaI to 5 pmcnt or morc o! mc
aggcgatc mkct vco!a mc outstandmg sharcs o!mc msidcntdomcsuc coqorauon
m mc mtcrcstcd stockoIdc or y tc or associatc o!mc mtcrcstcd stockoIdcr
ww.leg.stt.nv.usIivisionLegaILibraryIRS/RS-078.hb1 7016
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
cxccptundcrmccxmisc o!wm ts orgts topurchascsharcs ocrcd, oradmAcnd
or dismuuon pad or madc, pro mta to a stockoIdcs o! mc rcsidcnt domcsuc
coqomton.
4. Thc adopuon o!y pIan or proposaI!ormc IqmAauon or dissoluuono!mc
rcsdmt domcsuc coqorauon proposcd by, or undcr y agcmt, m gmcnt or
wdcrstandmg,whcmcornotmwg, w mc mtccstcdsmckoIdcrory tcor
assocatco!mcmtmstcdstockoIdc.
5. Any.
(a) RccIassicauono!sccu!cs, mcludmg, wout mtion, yspw go!shmcs,
dvdmd dismutcdmsharcs,oromcdismutono!shas W1mspccttoomcrsharcs,
or y issuancc o!ncw shas in cchangc !orapmporuonatcq gcatcr nmco!oId
shmcs ,
(b)Rccapauono!mcrcsdmtdomcsuc coqorauon,
(c)McrgcorconsoIdauon o!mcrcsdcntdomcsuc coqorauonwany subsidiary
o!mcmsdcntdomcsuc coqoraton, or
(d)Omcmsauon, whcmcrornotwormto oromoscmvoIvmgmcmtccstcd
stockoIdcr,
proposcdby, orwdcryagcmcnt, ngcmmtorwdcstandmg,whcmcr ornotm
wg, wm, mc mtccstcd smckoIdcr or any tc or assocatc o!mc mtccstcd
stockoIdcr, whch h thc ccct, dxcc or indxccy, o!mcrcasmg mc proporuonatc
sharc o!mc outstandmg shmcs o! y cIass or scrics o!vomg shmcs or sccu!cs
convmIc mto vomg sharcs o!mc rcsdmtdomcsuc coqorauon or y subsd o!
mcrcsdcnt domcsuc coqorauonwhch is dxccorindxccyowncd bymcmtccstcd
stockoIdcrory tcorsocav o!mcmtcrcsvdstockoIdc, cxcqt amsuto!
m atmchangcsbccausco!ad|usmcnts o!acuomshas.
b. Any rcccgtby mc mtccstcd stockoIdc or y tc or associatc o!mc
mtcrcstcd stockoIdc o!mc bcnc, dircc or mdxcctq, cxcqt proportionatcq as a
stockoIdcro!mcmsdcntdomcsuc coqomuon, o!anyIoan, advcc, tcc, pIcdgc
or omc nca assisUncc or any W crcdt or omc W advtagc providcd by or
mrougmcrcsidcntdomcsuccoqomtion.
(AddcdtoNS by!!, !200,A200_ !b80}
NR5 78.417 "Cemmen shares" defmed. "Common shas" mcs ysharcs
omcrmpm!cncdsharcs.
(AddcdtoNSby!!, !202)
NR5 78.418 "Centrel," "centrelllng," "centrelled by" and "under cemmen
cennelwlm" dened;presumpdenefcennel.
! . Exccpt omoscpmvidcdmsubscction2.
(a) "Conuo"uscdaIonc ormmctm s "conuoImg," "conmIIcd by' d "undcr
commonconmIw" mcans mcposscsson,dirccormdxcc, o!mcpowcrtodircct
or causc mc dxccuon o!mc mgmt d poIcics o!apcrson, whcmcr mroug mc
owcshg o!votingsccmcs,byconuactoromcsc.
(b)Apcson' s bcnccia!owncshg o!!0pcrccntormorc o!mcvomgpowcr o!a
coqomuon' soutstandmgvomgshascrcatcs apmsmuonmatmcpcrsonhas conuoI
o!mccoqomuon.
2. Apcson is notconsidcrcd to havc conuoIo!acoqorauonumc pcrsonholds
voug powcr, m good !am and not !ormc posco!cxumvmmg mc provisions o!
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 71/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
m chaptcr, as agcnt, bank, bmkcr, nomcc, custodnn or mstcc !or oncor mom
bcnccwowncrs who donotmdvdIyoras agoup havcconuoIo!mccoqomuon.
(AddcdtoNS by!!, !202)
NR5 78.421 "Datc efanneunccmcnt" dcfmcd. "Datc o!nounccmcnt,"whcn
uscd mrc!crmccto y combton, mcs mc datc o!mc stpubIc nowcmcnt o!
mcdccpmposaI!ormc commauon.
(AddcdtoNSby!!, !202)
NR5 78.422 "Datc efcensummaden" dcfmcd. "Datc o!consw auon," w
rcspotto y combmauon, mcs mcdatc o!mcconsw auono!thc combmauon or,
mmccco!acombmatonasto whchavovo!stockoIdcs istakcn, mcIatcro!.
L Thcbusmcssdaybc!orcmcvotc, or
2. Twcntydaysbc!orcmcdatco!consw uono!mccommauon.
(AddcdtoNS by!!, !202)
NR5 78.42J "ntcrcstcdsteckheldcr"dcncd.
L "mmcst stockoIdcr," whcn uscd m rc!crmcc to y rcsidcnt domcstc
coqomton, mcs any pcson, omcr m mc msdcnt domcsuc coqomuon or y
subsdnryo!mcrcsdcntdomcstc coqorauon, who is.
(a) ThcbcnccnIowc, dircc ormdxcctq, o!!0pcrccntormomo!mcvotmg
powco!mcoutstandmgvomgshas o!mcrcsdmtdomcstc coqorauon,or
(b) A tc or associatc o!mcrcsidcnt domcsuc coqomuon d at y umc
wmJycms mmcdiatcIybc!orcmcdatc mqucsuonwas mcbcnccwowcr, dmctIyor
mdz, o!!0pcnmtormorc o!mcvomgpowco!mcmcnoutstandmg sharcs o!mc
rcsdmtdomcsuc coqorauon.
2. To docwhcmcapcrsonis mtcrcstcdstockoIdc,mcnmbcro!votmg
sharcs o!mcmsdcnt domcsuc coqoratonconsdccd to bcoutstanding mcIudcs sharcs
consdcrcd to bc bmccw owncd by mat pcrson mroug mc appIcauon o!N
@!4,but docs notmcIudcany omcrwissucd sso!acIass o!vomg sharcs o!mc
rcsdmt domcstc coqorauonwhchmay bc issuabIc undc y agccmmt, m gcmcnt
orundcsmdmg, oruponcxmisco!rigts to convm, V ts oropuons,oromosc.
(AddcdtoNSby!!, !202,A!J,b8)
NR5 78.424 "Markctvaluc" dcncd. "Mrkctvc,"whm uscdmrc!cmccto
mcss orpropcrtyo!ymsdcntdomcsuc coqoraton,mcs.
! . mmccasc o!sharcs,mchgcstcIosmgsacprcco!asmcdmgmc J0days
mmiatcIypmccdmgmc datcin qucsuon on mc copostc tapc!orshas Iistcd on mc
NcwYorkStockExcngc, or, Bmcsharcs mc notquot on mccoposxctapcor not
Iistcd on mc Ncw York Smck Echangc, on mc prmcga Umcd Statcs sccuri!cs
cxchangc rcgstcrcdundcrmcSccws Echangc Act onwhichmc shmcs arc Iistcd, or,
Bmc sharcs mc not Iistcd on y suh cchangc, mc ! mkct vaIuc on mc datc m
qucsuon o!a sharc as dctm cd by mc bomd o!dircctors o!mc rcsidcnt domcsuc
coqomuonmgood!.
2. Inmc casc o!propcrq omcr mchor sharcs, mc ! mkct vaIu o!mc
propm onmc datc m qucsuonas dcmcd by mcbomd o!dmctors o!mc msdcnt
domcsuc coqorauonmgood!mW.
(AddcdtoNSby!!, !20J,A
!@!}
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 726
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
NR578.42 "?rcfcrrcd sharcs"dcfmcd. "Prc!cmd shas"mcs y cbss or
scrcs o!shas o!amsidmt domcsuc cotporauon mt undcr mcbyIaws or mcIcs o!
mcoqoratono!mcmsdcntdomcsuccoqomton.
I . Is cnuIcd to rcccvc paymmt o!dividcnds bc!omanypaymcnt o!dvidmds on
somcomcrcIassorsocso!sharcs,or
2. Iscnmcdinmccvcnto!yvoIuntIqudauon, dissoIuuonorwdmgup o!mc
coqomton to rcccvc paymcnt or dismTuton o! a pm!crcnm! ount bc!orc y
paymmts ordismuuons arcmccvbysomcomccIass orscrics o!shmcs.
(AddcdtoNRSby!99!, !203)
NR578.427 "Rcsldcntdemcsdccerperaden" dcfmcd.
L "Rcsdcntdomcstc coqorauon"smtcd toadomcstccoqorauonmat h200
ormomstockoIdcrs o!rccord.
2. A msidcnt domcsuc coqorauon docs not ccasc to bc a rcsidcnt domcsuc
coqomton by rcason o!cvcnts occw ng or acuons takmwhiIc mc rcsidcnt domcstc
coqomtonis subjcctmNRS 7B.4! ! m7BA , mcIusvc.
(AddcdtoNRS by!99!, !203,A!_!@!
NR5 78.428 "5ccurldcs Exchangc Act" dcEncd. "Souri!cs Exchangc Act"
mcans mc Acto!Congcss kownas mc Sccmcs Exchangc Act o!!934, as cndcd,
!5U.S.C.7Bacscq.
(AddcdtoNRSby!99!, !203)
NR578.429 "5harc"dcEncd. "Sha"mcs.
I . Any sharc orsmsccw, y cmcatco!mtccst, y pmcgauonm y
pro-shmg agccmcnt, y vomg-mst cmcatc, or y cmatc o!dqosx !or a
shmc,and
2. Any sccw convcrNIc, wiW or wiWout considcrauon, into sharcs, or y
wm t, caI or omcr opuonor pmgc o!buying sharcs wout bcmg boundto do so,
oryomcrsccwycm gyngtto acqmc, subscrcm,orpwchascshmcs.
(AddcdtoNRSby!99!, !203)
NR5 78.4J1 "5ubsldlary" dcEncd. "Subsdw o!y rcsidcnt domcstc
coqomton mcans y omc coqomton o!whcha majom o!mc outstandmg vomg
shmcswhoscvotcs acnwcdtobccastmcown,dirccormdxcc, bymcrcsidcnt
domcsuc coqoraton.
(AddcdtoNRSby!99!, !203)
NR578.4J2 "Vedng sharcs"dcEncd. "Vomgshas"mcs shas o!stocko!
acoqorauoncntcdtovotcgcnmmmccIccuono!dxcctors.
(AddcdtoNRSby!99!, !20)
NR5 78.4JJ Appllcablllq: Gcncrally. NRS 7B.4!!to 7B.4 , mcIusvc, do not
appqtoycombmauono!arcsdmtdomcsuc coqorauon.
!. Wich docs not, as o!mc datc mt mc pcrson t bccomcs mtccstcd
stockoIdcr, havc a cIass o!vomg sharcs rcgistmd w mc Sccu!cs d Echangc
Com issonundcr sccuon !2 o!mc Sccws Echangc Act, wIcss mc coqorauon' s
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 736
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
mcIcs o!mcoqorauonprovidcomosc.
2. WhoscmcIcs o!mcoqomuonhavc bccnammdcd topmvidcmat thc rcsidcnt
domcsuc coqoration a subjcct to @@! I to @ , mcIusivc, mdwhich did not
havc a cIass o!vomg shas rcgstccd w mc Sccmcs md Exchangc Comisson
undcrsccuon!2o!mcSccwsEchangcActonmccomcdatco!mcammdmcnt, u
mc combinauon a w apcsonwho tbccc m mtmstcd smckoIdcrbc!orc mc
cccmcdatco!mc cndmmt.
(AddcdtoNSby!!, !20b,A]_!}
NR5 78.4J4 Appllcablllq: Elccden net te bc gevcmcd by prevlslens. NS
@! ! to @ , mcksivc, do not appq to my commauon o!a rcsidcnt domcsuc
coqomtion.
! . WhoscopmcIcso!mcoqomuoncontam aprovisoncrcssqclccmgnot
to bcgovmcdby@_! to @ , mcIusivc, wlcss mc mcIcs o!mcoqorauon
mc subscqwtq mdcd to providc mat mc coqoraton a subjcct to @@! I to
78.4 ,mcIuswc,
2. WhoscmcIcs o!mcoqorauonhavcbcmdpursuantto subsccuon ! md
mc combinauon a w apcsonwho t bccc m mtmstcd smckoIdcrbc!orc mc
cccmcdatco!mc cndmmt,
3. Which, w 30days acrOctobc!, !!,adopts mcndmmttots byIaws
crcssqcIomgnotm bc govm by@@! ! to@ , mcksivc, whichmaybc
rcscmdcdbysubscqucntmdmcnto!mcbyIaws,
4. Which adopts mamcndmcnt to i mcIcs o!mcoqorauon, approvcd bymc
mc votc o!mc hoIdcs, omcm mvrcst stockoIdcrs and mcx tcs md
associatcs, o! a majoriq o!mc outstandmg vomg powcr o! mc rcsidcnt domcsuc
coqomuon, cxcIudmgmc vomgshas o!mtcrcst stockoIdcrs and mcx tcs md
sociatcs,crcssqcIcctmgnotto bc govmcdby@@I ! to@ , mcIuswc,but
mc cndmmt to mc mcIcs o!mcoqomuon H not comc unuI !8 months cr mc
votc o!thc msidcnt domcsuc coqoraton's stockoIdcrs and docs not appq to my
combmation o!mc msidcnt domcsuc coqoraton wt a pcrsonwho t bccmc m
mtcrcstcdstockoldconorbc!orcmccccmcdatco!mccndmcnt, or
5. Whosc mcIcs o!mcoqorauonwcc mdcdto contamaprovisioncrcssq
cIccmg not to bc govmcd by@@! to @ , mcIusivc, bc!om mc datc mc
coqomtiontbcccamsidcntdomcsuc coqomuon.
(AddcdtoNS by!!, !20b,A]_
NR5 78.4J Appllcablllq: Cemblnaden wlth lnadvcrtcnt lntcrcstcd
steckheldcr. N_! ! to @ , inckswc, do not appqto any cominauon o!a
rcsidmt domcstic coqorauon w an mtmstcd smckoIdcr o!mc rcsidmt domcstic
coqomtion who bccamc an intmstcd smckoIdcr mvcrtmtq, u mc mtccstcd
stockoIdcr.
! . A soonas pracucabIc, divcsts hmscI!orhcrscI!o!a sm cicnt amowt o!mc
vomg powc o! mc coqomuon so mat hc or shc no Iongcr a mc bmccaI owcr,
dircctq or mdxcctq, o! !0 pcrccnt or morc o! mc outstandmg voug powc o!mc
rcsidmtdomcsuc coqorauon, md
2. Womd not atmy mc w3 ycms procdingmcdatc o!mnowcmmt w
rcspot to mc combmauon havc bccn m mtcrcst stockoIdcr but !ormc dvcrtcnt
acquismon.
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 74/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
(AddcdtoNSby!!, !207,A!3,b8)
NR5 78.4J7 Appllcablllty: Cemblnaden wlth lntcrcstcd steckheldcr as ef
ccrtalndatc. NS78.4!!to78.4, mclusivc,donotappqto y combmatonwiW
mtcrcstcdstockoldcwho.
L WasmtcrcstcdstockoldconJu !, !!,or
2. Ixst bccc mtcrcst stockoIdcr onmc datc mat mcrcsidcnt domcsuc
coqomuon st boamc a rcsidmt domcsuc coqorauon soIcq as a rcsuk o! mc
coqomtonbccomgarcsdcntdomcstc coqorauon.
(AddcdtoNSby!!, !207,A2003_ 3!02,200_!b82)
NR5 78.4J8 CemblnadenprehlbltcdwlthlnJycarsacrsteckheldcrbccemcs
lntcrcstcd;cxccpden;acdenenprepesal.
L Ecqt as omcrwisc providcd m@73 to 7, mcIusivc, a rcsidcnt
domcsuc coqoratonmay notcngagc my combmatonwymtcrcstcd stockoIdcr
o!mcrcsdcntdomcsuc coqorauon!or3ycars acmcdatcmatmcpcrsontbccc
anmtmstcd stockoIdcrwIcss mc commauon ormcmnsacuonbywhichmc pcrson
t bccc an intmstcd smckoIdcr is approvcd by mc bomd o!dmctors o! mc
rcsdmtdomcstc coqorauonbc!ommcpcsontbcccmtccstcdsmckoIdcr.
2. I!aproposaImgood!mWrcgardmg acombmauonismadcmwgto mcbomd
o!dmcmrs o!mcrcsidcnt domcsuc coqomuon,mcboard o!dxccmrs sIrcspond, m
wg,wm 30days orsuchshortcpcrod,uy, asmaybcrqmcd bymcSccuri!cs
ExchangcAct, sctmg!ormts rcasons !orts dccisonrcgmdmgmcproposa.
3. I!aproposaImgood !am m cntc mto amsacuonbywhich mc pcrsonW
bccomc mtcrcst stockoIdcr is madc m wg to mc bomd o!dxcctors o! mc
rcsdmt domcsuc coqorauon, mc board o!dxcctors, wIcss t rcsponds mcIy m
wgwm30days orsuchshortcpcrod,uy, maybcrqmcdbymcSccu!cs
ExchgcAct,isconsidcrcdmhavcdisappmvcdmcmnsaton.
(AddcdtoNS by!!, !20,A!3,b8,]@,!
NR5 78.4J9 Autherlzcd cemblnadens: Gcncral rcqulrcmcnts. A msdcnt
domcsuc coqorauonmay not cngagc in y combmauonwW mtcrcstcd stockoIdcr
o!mcmsidmt domcsuc coqorationacr mc cxauon o!3ycms acr mc pcrson t
bcccmtccstcdsmckoIdcromcrmacombmauonmccmga o!mcrcqmmcnts
o!mc mcIcs o! mcoqorauon o! mc rcsidcnt domcsuc coqomuon and cmcr mc
rcqmts spccimsubsccton !, 2or 3 or a o!mc mquircmcnts spccmdmN
78.44!m78.4 ,mcIusvc.
! . A combmauon appmvcd by mc bomd o!dxotors o!mc rcsidcnt domcsuc
coqomuonbc!orcmcdatcmatmcpcsontbccmcmtcrcststockoIdcr.
2. A combmauonw mtcrcstcd stockoIdcr umc mnsacuon bywhich mc
pcrsonbccamc mtccstcd stockoIdcr was approvcdbymc bo o!dxcctors o!mc
rcsidmtdomcsuc coqorauonbc!ommcpcsonbomcmtcrcstcdstockoIdcr.
3. A combmaton approv by mc tvc votc o! mc hoIdcrs o! stock
rqrcscnung a majom o!mc outstanding voung powcr not bcnccw owncd by mc
mtcrcstcd stockoIdc proposmg mc combmaton, or y tc or associatc o!mc
mtcrcstcd stockoldcproposmgmccommaton, atamccmg caIIcd !ormatposcno
cmIcm3ycars amc datcmatmcpcrsontbcccanmtccstcdstockoIdcr.
(AddcdtoNSby!!, !204,A!3, b,]@)
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 756
11/1/11 NRS: CHAPTR 78 - PRIVATE CORPORTIONS
NR5 78.441 Autherlzcd cemblnadens: Censldcraden bc rccclvcd by
dlslntcrcstcdheldcrs efcemmensharcs. Acombmauoncngagcd mwmtmstcd
stockoIdcro!mc rcsdcntdomcsuc coqomuonmorcm Jycas amcdatcmatmc
pcrsonstbccc anmtmstcd stockoIdomay bcpmssmlcumcaggcgatc amount
o!mc cashdthcmke vaDc, as o!thc datc o!consw uon, o!consdcrauonomcr
mcashto bcrcccvcd pcrsharcbya o!mchoIdos o!outstandmgcomonshacs o!
mc msdcnt domcsuc coqomton not bcncca owcd by mc mtcrcstcd stockoIdcr
mmatcIybc!orcmatdatcaatlcastcquaItothchgcro!mc!oowng.
L ThchgcstpnccpcrsharcpadbymcmtcrcstcdstockoIdo,atamcwhmhcor
shc was mc bcnccN owcr, dmctIy or mdxcctq, o! 5 pmcnt or mom o! mc
outstandmgvougshacs o!mccoqorauon,!orycommonshso!mc sc cIassor
scrcs acquxbymcmtcrcstcdstockoIdowm Jycas m cdavqbc!orcmcdatco!
announccmcntwtmspccttomccomnauonorwJycars m cdatcqbc!om,orm,
mc msacuonmwhchhc or shc bccamc mtocstcd stockoIdo, whchcvoa hgcr,
pIus, m cmo casc, mtcrcst copowdcd nuaIq om mc caIcst datc on whch mc
hgcstprccpcr shwas pad mrougmcdatc o!consw tonatthcmtc!oronc-yca
obhgauons o!mc Umcd Statcs Trcasw om mc to mc m ccct, lcss mc aggcgatc
owt o!y dvdmds pad m cash d mc mke vaIu o!y dvdmds pad omcr
m mcash, pcr comon sharc smccmccarIcstdatc, butno morc may bc submctcd
mmcounto!mcmtocst.
2. Thc mke vaDcpocommonshaconmcdatc o!nowcWtwtrcspcctto
mc comnauon or on thc datc mat mc poson stbccc mtcrcst stockoIdcr,
whchcvcra hgo, pms mtmstcopoundcd nuommatdatcmrougmcdatco!
consw uonatmcmtc !oronc-ycaobIgauons o!mcUmd Statcs Trcaswomtmc
m mc mccct, Icssmc aggcgatc amount o!y divdcnds pad mcashd mcmke
vNco!y divdcnds pad omcrmn cash,pcrcommonshac smcc matdatc, but no
morcmaybcsubuactcdmmc owt o!mcntmst.
(AddcdtoNSby!99!, !204,A !99J, 969,200J_J!0J)
NR5 78.442 Autherlzcd cemblnadens: Censldcraden bc rccclvcd by
dlslntcrcstcd heldcrs ef class er scncs efsharcs ethcr than cemmen sharcs. A
combmauon cngag n w mtocstcd stockoldo o! mc rcsdcnt domcsuc
coqomton morc m J ycas ao mc datc mat mc pcrson st bccc mtocstcd
stockoIdcrmaybc pcmssmIcBmc aggcgatcount o!mccashdmcmke vaIuc,
as o!mcdatco!consw uon, o!consdoauonomcrmcashtobcrcccivcd poshac
by a o!mc hoIdcrs o!outstandmg sharcs o!y cIass or scrcs o!shs, omo m
common shs, o!mc rcsdcnt domcsuc coqomton not bcncca owcd by mc
mtocstcd stockoldommatcIy bc!orc mat datc a at Icast cqua!to mc hgcsto!mc
!oIlowg,whcmcr ornotmcmtcrcstcd stockoIdcrhprcvousqacqumanyshacso!
mccIassorsocs o!sharcs.
L ThchgcstpnccpcrsharcpadbymcmtocstcdstockoIdo, atawwhmhcor
shc w mc bcnccw owcr, dmctIy or mdxcctq, o! 5 pmcnt or morc o! mc
outstandmg votmg sharcs o! mc coqorauon, !or y shs o! mat cIass or socs o!
sharcs acqmdbymcmtcrcstcd stockoIdowJ ycas mmatcq bc!orcmcdatc
o!nounccmcntwrcspotm mccommauonorwmJycas mcdavqbc!orc, or
m, mc mnsuon m whchhc or shc bccc mtcrcstcd stockoldo, whchcvcr a
hgo, pIus, mcmcrcasc, mtcrcstcopoundcd annumIyommccaIcstdatc onwhch
mchgcstpnccpcrsharcwas padmrougmcdatco!consw uonatmcratc!oronc-
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 76/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
ycm obIigauons o!c Umcd Statcs Tmsm om wc to wc in ccct, Icss c
aggcgatc mount o!any dividcnds pad mcash d thc mkc vc o! any dividcnds
pad ocrmmcash, pcr shmc o!c cIass or smcs o!sharcs smcc c cmIicst datc,
butnomorcmybc submctcdcmounto!cintcmst
2. Thc hqcstprc!crmm mountpo shmc to whchc hoIdcrs o!shmcs o!c
cIass or scncs o! shas mc cnttlcd mc cvcnt o!yvoDntIiqudauon, dissoIuton
or wdmg up o!c rcsdmt domcstc coqorauon, plus c aggcgatc amount o!y
dvdmds dohrcd or duc to whch thc hoIdcrs arc cnwIcd bc!orc paymcnt o!c
dvdmds on somc ocr cIass or smcs o! sharcs, unlcss c aggcgatc amowt o!c
dvdmds is mcIudcdmthcpm!crcnmmount
3. Thc mkc vc pcr shmc o!c cIass or smcs o!sharcs on thc datc o!
nowccmcntwtmspccttoccombinauonoroncdatcatcpcrsontbccmc
an mtocstcd smcHoIdcr, whchcvo is hqcr, pIus mtcrcstcopoundcd nuw om
mt datc mrou c datc o!consw uon at c ratc !or onc-ycar obIigauons o!c
Um Statcs Trcasm om w to timc m cot, lcss c agggatc mowt o! y
dvdmds pad mchd cmkcvaluc o!y dvdcndspad ocrmincash,pcr
shmc o!thc cIass orscrcs o!shmcssmccatdatc, butnomorc maybcsubuactcd m
cmowto!cmtmst
(Addcdto NRS by!!, !205,A!3,T0,2003_ 3!04)
NR5 78.44J Autherbcd cemblnadens: Rcqulrcd ferm and dlstnbuden ef
censldcraden. Thcconsdmtontobcrcccvcdbyholdos o!apartcuImcIassorscrcs
o!outstandmgshmcs, mcludmgcoUnshmcs, o!crcsdcnt domcsuc coqorauonm
ccombinauonpwstto@@Id@42,mustbcincashormcsmc!om
ascmtcrcstcdstocHoldcrhasusto acquxcchrgcstnmoo!shaso!ccIass
or smcs o!sharcs pnousq acqmd by i dc consdcrauon mustbc dismutcd
proptq.
(AddcdtoNRS by!!, !206)
NR5 78.444 Authemcdcemblnadens:Rcsmcdens enbcncEclalewncrshlpef
addltlenal vedng sharcs by lntcrcstcd steckheldcr. A commauon may bc
pcmsslc ua c datc mt c pcrson tbccmc intocstcd stocHoIdcr d
bc!om c datc o! consw ton wt mspcct m c combmaton, c mtocstcd
stocHoldcr has not bccomcc bmccialowcr o!yduomvomg sharcs o!c
rcsdmtdomcsuc coqorauoncxccpt.
! . A pm o!c msactonmt msutcd m c posonbccomg mtocstcd
stocHoldcr,
2. Byvmc o!proporuonatc spItmg o!shas, dvdcnds dismut m sharcs, or
ocrdismuuons o!sharcs mrcspoto!shas notconsmgacombmauon,
3. Throuacombmauonmccmga o!ccondtons o!NRST8.43,or
4. Throuapmhascaty prccat, ucprccB bcmpadm ocrwsc
pcmssIc combmauonwhosc datc o!nouncmcnt m datc o!consw uonwcrc
c datc o!c purchasc, would havc sauscd c mqumcnts o!NRS T8.4!, T8.42
and74 .
(AddcdtoNRSby!!, !206,A !3, TI,@@)
5AL O1 A55T5;D155OLLT1ONANDWDHG
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 77/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
NR5 78.55 5alc,lcascercxchangcefasscts:Authenty;vetc efsteckheldcrs.
!. Unlcssomcrwiscprovidcd mmcacIcso!mcoqomuon, cvcqcoqorauonmay,
by acuon takm at mymccmg o!xs bomd o!dzmrs, scII, Icasc or cxchangc aII o!xs
propmmd scts, mckdmgts goodwilIand ts coqomtc mnchiscs, uponsuchm
and conduons as its bomd o!dztors may appmvc, whcn md as aumorizcd by mc
mcvotc o!stockoIdcshoIdmgstockmmccoqomuonmumgmcmto cxcrcisc
atIctamajomo!mcvomgpowc.
2. Unlcss omcmiscprovidcd mmc mcIcs o!mcoqomuon, avotco!stockoIdcrs
isnotncccss.
(a) Ioramns!co!scts byway o!mortgagc, ormmstorinpIcdgc to sccm
mdcbtcdncsso!mc coqorauon, or
(b)Toabmdonmcsalc, Icascorcxchmgco!asscts.
37:!77:!925,NCL !636|SA!9B9, BB6, !993, 973,200_ !376, 3!99, 2007_
242)
NR5 78.570 5alcefprepcrtyandfranchlscundcrdccrccefceurt. SaIcs o!mc
propmmd mnchiscs o!coqorauonsmatmay bc soIdundcradccrcc o!com sIbc
madcam suhnoucc o!mc wmd placcasmccommay dccmpropc. l!mc salcs
arcmadcinmc !orccIosurco!onc ormorcmortgagcs,mc commayordcmc sacto bc
madc!ormcwhoIcounto!mdcbtcdncss sccurbymcmortgagcormortgagcs,or!or
mc owt o!mtcrcstduc wdcr mcmortgagc ormortgagcs, subjccttomcpaycnt by
mc pmhasc o!mc outstanding mdcbtncss md intmst sourcd mccby mcy
bccomc duc. mmc D0 cvmtthc court may, by pmpcr ordcrs, sccurcmc assmuon
mcrco!bymcpmchascr. Whcn asaIc shaIIbcordmdtobcmadc, subjot a!omsad,
mc court shaI dircct mc omccr mg such sac, m mc cvcnt mat mc propm md
mnchiscs occd do not scII!ormoug to pay mc ount a!omsad, to scIlmc sc
cc mm cncumbrmccs. SaIcs wdcm scctonshaIbc madc on suchcrcdxs mc
commydccmpropc.
3B.!77:!925,NCL !637|
NR5 78.575 ?reccdurc fer dlsseluden bcferc paymcnt ef capltal and
bcglnnlng ef buslncss. Bc!orc mc paymcnt o! any part o! mc capim md bc!orc
bcg g mc busmcss !orwhch mc coqomton w crcavd, mc mcoqorators ormc
board o!dzmrs cd mmc mcIcs o!mcoqomtonmay dissowc acoqomuonby
Nng m mc Omcc o!mc Sccm o!Statc a cmatc, sq by a majom o!mc
mcoqorators or o!mcboard o!dmctors Ddmmc acIcs o!mcoqomton, statmg
mat no pm o!mc captaIh bccn pad md mc busmcss has not bcgun, md mccupon
mccoqorauonisdissoIvcd.
73. !77:!925,NCL !672| SA!993,973, !995, ! ! !4, !g!@!)
NR578.580 ?reccdurc ferdlsseludenacrlssuanccefsteckerbcglnnlng ef
buslncss.
!. I!mcbomdo!dircctors o!my coqoratonorgcdwdcmchaptcr, amc
issuancc o! stock or mc bc g o!busmcss, dccidcs mat mc coqorauon shouId bc
dissowcd, mcbomd may adopt amsokuonm matccct. I!mc coqorauonhas issucd
no stock, opmcdmctorsnccdto approvcmc dissokuon. I!mccoqomuonh issucd
stock,mcdmctors mstrccommcndmcdissokuontomcstockoIdcrs.Thccoqorauon
shaIInom cachstockoIdccnutlcdm votc on dissokuon, andmc stockoIdcrs cnutIcd
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 78/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
tovotcmustapprovcmcdssoIuuon.
2. l!mc dissoIuuon is appmvcd by mc dxcctors or bom mc dircctors md
stockoIdcrs, rcspcctivcqprovidcd in subsccuon !,mc coqomuonshaII lc wmc
Omcco!mcSccrcto!Statc acmcatcsgcdbymomccr o!mccoqorauonsctmg
!ormmatmc dssoIuuonhas bccnapprovbymc dxcctors, orbymc dmctors md mc
stockoIdcrs, and aIist o!mc ncs md addrcsscs, cmcrcsdmcc orbusmcss, o!mc
coqomton's prcsdmt, sccm md ucurcr, or mc cqmaIcnt mcrco!, md a o!xs
dircctors.
3. ThcdissoIuuontakcs ccctuponmcng o!mccmcatco!dissoktionorupon
aIatcdatcspcccd mmc cmcatc, whchmustbcnotmorcmm0days acrmcdatc
onwhchmccmcatcis I.
[6.!77.!25,NCL !bb3SA !b3, !3!, !7, 37, !I, !23, !3, 73,
200]!37b, 3!,2003_ 3!05,2003_20mS_ccalScsson_3b)
NR5 78.585 Cendnuaden ef cerperaden aer dlsseluden fer wlndlng up
buslness;llmltadenenacdens byeragalnstdlsselvedceqeraden. Thc dssoIuuon
o!acoqorauon docs not mr myrcmy or causc o!acuon avaabIc to oragstit
or xs dxcctors, omccs or sharchoIdcrs asmg bc!orc xs dissokuon md comcnccd
wm2ycms mc datc o!mc dssoluuon. h conunucs as a body coqoratc !ormc
posco!pmsccumg md dc!cndmg suits, actons,procccdmgs md cws o!mykd
orcmtcrbyoragstxmd o!mabIing xgduto scttIcmd cIosci busmcss,to
coIlcct and dschargc ts obIgauons, to dsposc o! md convcy ts pmpcrq, md to
dsmTutc i asscts, butnot !ormcposc o!conmumg mc busmcss !orwhchx was
cstabIishcd.
[b5. !77.!25|-SA!4, !70, I55, !b5, !85, !73)
NR578.590 Trusteesefdlsselvedcergeraden:?ewersefdlrecters.
! . UponmcdssoIuuon o!mycoqomuonundcrmcprovisons o!NS 78.580, or
upon mc cxpmuon o! mc pcrod o!ts coqoratc cxistmcc, m by i mcIcs o!
mcoqoraton, mcdmctors bccomcmstccs mcrco[W1 Wpowc to scttIc mcaaxs,
coIlcctmcoutstandmgdcbts, scIImdconvcy thc pmpcrq, rcaImdpcrsom,mddvdc
mc moncy md omc propm among mc stockoIdcrs, cr paying or adquatcq
providmg!ormcpaycnt o!i IiabwsmobIigauons.
2. Ac paymg or adcquatcq provdmg !or mc IabIi!cs md obIgauons o!mc
coqomuon, mc mstccs, wmc wm conscnt o!stockoIdcs holdmg stockm mc
coqomuon muuingmcmto cxcrciscat Icast amajom o!mc vomgpowc, may scIImc
rmg asscts or my pm mcrco!m acoqorauonorgcdwdcr mcIaws o!m or
any omcr statc, md takc m paymmt mcc!or mc stock or bonds, or bom, o! mat
coqomuon md dismutc mcm ongmc smckoIdcrs o!mc hquidatcd coqomuon, m
proporuontomcr mtccst mccn. Nosuchsacsvad as agamst my stockoIdcwho,
wm 30 days crmc mgo!noucc to mc stockoIdcr o!mc saIc, appIcs to mc
disuctcom!ormappraisaIo!mcvc o!m orhcr mtmst mmc asscts so soId, md
unIcss wm 30 days cr mc appmsaI s commcd by thc com mc stockoIdcrs
consmmgto mc saIc, or somc o!mcm, payto mc ob|ccmgstockoIdcor dcpost!or
mc objccung smckoIdcr' s accowt, mmcD cdxcct bymccom, mcount o!
mcapprsaIUponmcpaymcnt ordqosxmcntmsto!mcobjomgstockoIdcvcsts
mmcpcrsonorpcrsonsmgmcpaymcntordcpost.
[bb.!77.!25,NCL !bb5|- SA!3,74)
ww.leg.stt.nv.usIivision/LegaVLibraryIRS/NRS-078.hb1 79/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
NR578.595 Trustccs efdlsselvcdcerperaden:Authentyte suc andbc sucd;
jelntandscvcralrcspenslblllq. Thcpcrsons consutut mstccs asprovidcd m@
7
shaII havc aumor@ m sw !or d rccovcr mc dcbts d pmpcrq mcrcm
mcnuoncd, by mc mc o!mc mstccs o!mc coqorauon, dcscnTmg xby ts coqoratc
nc, and sha!IbcsuabIcbymcscnc!ormcdcbts owg bymcco:porauonatmc
timco!ts dissoIution,dsha!IbcjomtIy d scvmrcsponsIc!orsuchdcbts,mmc
amounts o mcmoncys dpropcrqo!mccoqomuonwhichshNIcomcmto mcxhands
orposscsston.
[b7.!77.!25,NCL !bbb|
NR5 78.00 Trustccs errccclvcrs ferdlsselvcdcerperadens: Appelnmcnt;
pewcrs. Whmy coqorauon orgcd wdcrmchapto shaIIbcdissohcdorccasc
to cxist in y O cr whatcvcr, mc dsuict court, on appIcauon o!any crxor or
stockoIdcro!mccoqorauon, at anyumc, may cimcr conuuc mcdircctors mstccs as
providcd in@7, or appomtonc or morc posons mbcmccvcrs o!d !ormc
coqomton, to tmc chargc o!mc cstatc d cccts mcrco!, dto coIlcctmc dcbts d
propm duc and bcIonging to mc coqorauon, wpowoto prosccutc and dc!cnd, m
mcmc o!mccoqoraton, or omosc, NIsuchsmts as may bcncccssqorpropcr
!ormcposcs a!omsad, andto appomt an agmtor agmts undomcm, d to do NI
omcractswhichmtbcdoncbymc coqomuon,uinbcmg,matmay bcncccssq!or
mc a! sm t o! mc mh busmcss o!mc coqoration. Thc powcrs o! mc
mstccs or mcivcrs mybcconuucd as Iong as mc dsuictcourt shNImnocssq
!ormcposcsa!omsad.
[b8.!77.!25,NCL !bb7|
NR5 78.05 Junsdlcden efdlsmct ceurt. Thc disuict court sha!I havc
jusdcuon o!mc appIcationprcscncd m@7Qdo!aIIqucstions msmgmmc
procccdmgsmcrcon, andmaymcsuch ordcrs ddccmcs d issucmjuncuonsmcrcm
asjusuccdcquty smIrcqmc.
[b.!77.!25,NCL !bb8|
NR5 78.10 Dudcs efnustccs er rccclvcrs; paymcnt and dlstrlbuden te
crcdlters and steckheldcrs. Thc mstccs or rcccwcrs, paycnt o!a!I aIIowccs,
ccnscsdcosts, and mcsatis!acuono!a!IspccwdgcncraIIcns uponmc mnds o!
mccoqorauontomccxtcnto!mcxDWpriorty, shmIpaymcomcrdcbts ducommc
coqomton, umc mnds mmcir hds shNIbc sm ccnt mcrc!or, d unot, mcy shaII
dismTutc mc samc mtabq among a!I mc crcdtors who smI pmvc mcx dcbts m mc
O omt smIbc dxcctcd by ordcr or dccrcco!mc court!ormtposc. l!mcrc
shaII bcybanccmg acrmcpaycnt o!mc dcbts d ncccssqcmscs (or
mc mg o!adcquatcprovisonmoc!or), mcy smIdsmutc dpaymc scm d
among mosc who smI bcjusy mu!cd mcrcto, as havmg bcm stockoIdcrs o!mc
coqomton, ormcxIcgNrcpmscntamcs.
[70.!77.!25,NCL !bb|
NR5 78.15 Abatcmcnt efpcndlng acdens;subsdtudenefdlsseludennustccs
errccclvcrs. I!ycoqomuon orgcd undcrm chaptcrbccomcs dissoIvcd bymc
cxauono!i chooromcrwsc,bc!orcjudgcntobtmyacuonpcndmg
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 80/96
11/1/11 NRS: CHAPTR 78 - PRIVATE CORPORTIONS
orconmcncmmy couo!rccordo!mStatcagstccoqomton,cacuonshaI
notabatcbymasoncrco!, butc dissoIuuon o!c coqorauonbcing suggcstupon
croord, md c namcs o!c mstccs orrcccivcrs o!c coqoration bcing cntcrcd
upon c rccord, md noucc crco!scrv upon c mstccs or rcccivcs, or usuch
scrvccbcmmcucabIconccomsclo!rccordmsuchcasc,c acuonshaIprocccd
ma!judmtagstcmstccs orrcccivcrs bycnmc o!ccoqomuon.
T!. !TT.!25,NCl !6T0|
NR5 78.20 Dlsseluden er ferfelture efcharter by decree efceurt;llng.
Whmcvcrmycoqomtons dissoIvcd ori ch!oncxcd bydccrccorjudcnt o!
cdisuictcourt, cdccrccorjudcnt sha!Ibc!orw IcdbyccIck o!ccou
mcOmcco!c Sccrcto!Statc.
T2.!TT.!25,NCl !6T!|
U5OLVENCY;RECEDER5AND TRL5TEE5
NR578.22 Reerganbadenunderfederallaw:?ewersefcerperaden.
!. !!acoqorauonis udcrrrguon ma!cdcra!coupwsumtm Txc ! l o!
US. C, t may takc any acuon ncccss to cm out my procccdmg md do any act
dircctcd byc courcIaugto rcorguon, wout mcracuon by i dmtors or
stockoIdcrs.This auormaybccxcrcisby.
(a)Thcmstccmbptcyappomtcdbyccou,
(b)Omccs o!ccoqomuondcsQtbyccou,or
(c)Anyocrrcpmscntamc appomtcdbyccou,
w c samc ccct u cxmiscd by c dircctors md stockoIdcn o! c
coqomuon.
2. By mgaconpbn or ordcro!rcorgauon, cmcd bycbptcy
cou, wtcSccmo!Statc,ccoqomtonmay.
(a)AItcr, amcnd orrqca!i byIaws,
(b)Conswtcormconswtcmd cIassorrccbssi bomdo!dxomrs,
(c)Nmc, conswtcorappomtdxcctors md omccrs mpIacco!ormdmonto aII
orsomco!cdircctors oromccrscninomcc,
(d)Amcndts mcIcs o!mcoqomtion,
(c)Mkcanychmgcinxs auomcdmdissusmck,
(J Mkcmy ocr amcndmmt, changc, cauon orprovsionauorizcd bym
chaptc, and
(g) Bc dssoIv, mns!caI orpm o!i asscts, ormcrgc or consoIdatc, ormakc
anyocrchangc auorizcdbymchaptcr.
J. mmyatontakcnpwsumtto subscctons ! md 2, astockoIdch no gtto
dWdpaymcnt!orhis orhcstock
4. Any amcndmcnt o!c mcIcs o!mcoqomuonmadc pursuanttosubsccuon2
must bcsqcd undcpmo!pqbycpcsonauorizcd byccoumd Icd
wt c Sccm o! Statc. !!c mcndmcnt s Ncd m acordmcc w c ordcr o!
rcorgauon,tbccomcs cccuvcwhcnitisNcdmIcssocrwscordcrbyccourt.
5. Any mg wm c Sccrct o! Statc pwsuant to m sccuon must bc
accopancdbyc appropratc !cc, umy.
(Addcdto NS by !85, !U2,AlJ, 2T65, !_,12; 202@
Ss
3
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 81/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
NR578.J0 Appllcadenefcrcdlters ersteckheldcrs eflnselvcnt ceQeraden
ferlnjuncdenandappelnmcntefrccclvcrernustcc;hcanng.
L Wmcvcr my coqomtonbccomcs msoIcnt orsuspcnds ts ordmbusmcss
!or want o! moncy to cm on c busmcss, or uts busmcss h bcm md is bcmg
conductcd at a gcat Ioss and gat prqudc! to c mtccst o! ts crcditors or
stockoIdcrs, my cmdtors hoIdmg !0 pmcnt o! c outstandmg mdcbtcdncss, or
stockoIdcrs owg !0pmcnto!coutstanding smckmuIcdtovotc, may, bypctuon
sctg !orU c !acts and cxumstanccs o!c casc, app to c disuct cour|o!c
coutymwhchcpncaomcco!c coqorauonis Iocatcd or, ucprmcaomcc
is notIocatcd mm Statc, toc disuct courtmc counqin whchccoqomton' s
rcgstmd omccis Iocatcd !or aw o!mjuncuon and cappommcnt o!arcccivcr or
rcccivcs ormstccormstccs.
2. Thc cou, bcing satis by davx or ocsc o!c sm ccncy o!c
appIcauon md o!cm o!c a cgauons contcd mcpmn md uponhcmg
acrsuhnouccas ccouby ordcmaydxcct, sIprocccdmaswwaymhcm
c davxs,proo!sand aIIcgatons whchmaybc ocrcdmbcha!o!cpmcs.
J. I!upon such inqm t appcars to c court atc cotporauon h bccomc
msoIvmt md is not about to rcswc ts busmcss m a shor| tmc crcar, ormt xs
busmcss has bccn md is bcmg conductcd at a gat Ioss and gat pmjudcwm c
mtccsts o!ts crcdtors or stockoIdcrs, so mt ts busmcss cannot bc conductcd w
sa!ctym c pubIic, xmay issuc mmjuncuonto msmnccoqomtonmd xs omccrs
and agcnts om cxmising any o! xs pmiIcgcs or mchscs md om colIoug or
rcccivg my dcbts or payg out, scwg, assqg or ms!m g any o!its cstatc,
moncy, bnds, tmcmmts orcccts, cxcqtto arcccwcrappointcd byc cou, utc
couocrwscordcs.
46.!TT.!25,NCL !65|-KS A !J, T4, 2T65, 2820, ) 2; 20.
.
)
NR5 78.J5 Appelntmcnt efrccclvcr er trustcc eflnselvcnt ceQeraden:
?ewcrs.
L Thcdisuctcowt, atcuc o!ordmgcmjuncuon, oratmy uc cmds,
may appomt a rcccwcr or rcccivcs or a mstcc or mstccs !or c crcditors md
stockoIdcrs o!c coqorauon.
2. Kcccivcs ormstccs sIhavcmpowcrmdauom.
(a) To dmd, suc !or, coIlcct,rcccivc mdtakc into posscssonaIc goods md
chattcIs, rits and cmdts, moncys and cccts, bnds md tcnmcnts, books, papcrs,
choscsmacuon,bH s,notcsandpropcrq, o!cvcrydcscruono!ccoqomuon,
(b) To msututc suts at Iaw or m cqm !or c rccov o!any cstatc, pmpm,
dmagcs ordmdscxisugm!avoro!ccoqomuon,
(c) mcx discrcuon m copoud md scttIc wmy dcbmr or crcdxor o!c
coqomton, orwpcrsons havingposscssono!xspropmormmy wyrcsponsIc
at Iaw or m cquty to c coqorauon at c uc o! xs msolvmcy or suspcnsion o!
busmcss,ormds,onsuchtmsmdmsuchm cascy shaIdccmjustmd
bcnccwto ccoqomuon, and
(d) mcasc o!mutualdcag bctwccnc coqorauon and mypcsonto a owjust
sctos m !avor o! suh pcson m aI cascs in whch c smc out m bc aIowcd
accordmgto Iawmdcquty.
J. Adcbtorwho shalhavcingood! padadcbtto ccoqorauonwiWoutnoucc
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 826
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
o!xsmsoIvmcyorsuspcnsono!busmcss,shaInotbcIabIcthcm!or,dmcrcccivcror
rcccivcs ormstcc ormstccs shaIhavcpowcr to sc, convcyd assqaImccstatc,
gts and mtcrcsts, and shaII hoId d disposc o!mc procccds mmo! wdcr mc
drccuons o!mcdismctcom
[Pm47.!77.I25,NCl !6b|-SAIb,J)
NR578.40 ?repcrty andprlvllcgcseflnselvcntcerperadenvcstlnappelntcd
rccclvcr. P rcaI d pcsonaI pmpcrq o! msoIvmt coqorauon, whcmsocvcr
stuat,d aIts mnchiscs,gts, pnviIcgcs dcccts sha , uponmc appommcnto!
arcccivcr, !ormwiWvcst mmcrcccivcr, dmccoqorauonshaIbc dvcstcd o!mcmc
mcrcto.
[48. !77.!25,NCl !67|
NR5 78.45 CeQeraden mayrcsumc centrel upenpaymcnt efdcbts and
rccclpt efcapltal te cenduct buslncss;erdcr efceurt dlsselvlng cerperaden and
ferfcldngchartcr.
!. Whmcvcr amccvcrshaIhavcbccnappomtcd as pmvdm@7 and it
shaIIas appcmmat mc dcbts o!mc coqomuonhavcbcmpad orprovidcd !or,
and mat mcm rm or can bc obtncd by mcr conmuuons sumccnt cap to
cnabIc x to msumc i busmcss, mc dsuct commay, m i discrcuon, apropc casc
bcingshow, dxcctmcrcccivcrtorcconvcymmc coqorauonaIIi propm, mnchiscs,
rqts and cccts, d mmmc coqomton my rcsumc conuoI o!and mjoy mc
scas masumcmccvcBncvcrbcmappomtcd.
2. m cv casc mwhich mc dismct com shaInotdxcct suhrcconvcycc, mc
com may, mi dscrcton, makc adccro dssoIwg mc coqomuon d dccwg xs
chmc!or!citcd dvod.
[4.!77.!25,NCl !68|
NR5 78.50 5teckheldcrs' appllcaden fer lnjuncden and appelnmcnt ef
rccclvcrwhcnceQeradenmlsmanagcd.
!. AnyhoIdcrorhoIdcrs o!onctcnm o!mcssucd doutstandmgstockmayappq
m mc dsuct com m thc county m whch thc coqorauon has i prmcgapbcc o!
busmcss or, umcprmcgaIpwc o!busmcss is not Iocatcd in m Statc, m mcdisuct
com mthc cowty mwhch mc coqorauon's rcgstcrcd omcc s Iocat, !orordcr
dssomg mc coqomuon d appomug a rcccwcr to wmd up ts , d by
mjuncuon rcsmmc coqomuon mm cxmising any o!i powcs or domg busmcss
whatsocvcr, cxcqtbyandugarcccvcappomtcdbymccom,whmcvcr.
(a)ThccoqorauonhwvoIatcd i ch,
(b) hs mstccs or dxcctors havc bccn g o! mud or cowsion or goss
msmgcmmtnmcconductorconuoIo!i ,
(c) lts mstccs or dxcctors havc bccn g o!ms!casancc, m!cascc or
non!casancc,
(d) Thc coqomton s mbIc m conduct mcbusmcss or conscrvc ts asscts by
rcasono!mcat,ncgIcctormmsatomncuono!anyo!mcdxcctorsormstccs,
(c) Thcasscts o!mc coqorauon mcmdgco!wstc, sacmcc or Ioss mroug
attachmcnt, !omcIosm,Iugauonoromcrwsc,
(Thccoqorauonhabandoncdts busmcss,
(g)Thccoqorauonhas notprocccdcdddigcntqmwd up xs ,orto dismutc
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 836
11/1/11 NRS: CHAPTR 78 - PRIVATE CORPORTIONS
ts assctsinamasonabIcmc,
(h)ThccotporauonhbccomcmsoIvmt,
() Thc coqorauon, akoug not msoIvcnt, is !orycauscnot ablc to payxs dcbts
oromcobIigauons mcymaturc, or
Q)Thccotporauonisnotabouttorcsumctsbusmcsswsa!cqto mcpubIc.
2. ThcappIcauonmaybc!ormcappommcnt o!arocwcr, woutatmcsctimc
appqg !ormc dissoIuuon o!mc coqomuon, d nowUndmg mc abscncc, uy
mcrc bc,o!yacuonoromcprocccdingmmcpmiscspcndmgmsuchcom.
J. m y suh appIcaton !or a mccvcs, x is sumccnt !or a tcporary
appommcnt unoucc o!mc samc is gcnto mc coqorauon aIonc, bypmccss mmc
casc o! appIicauon !or a tcpom rcsm ordcr or in|uncuon, d mc hcmg
mcrcon may bc had 5 days' notcc unIcss mc com dirccts a Iongc or dm crcnt
nouccand dm crcntpmcs.
4. Thc commay, ugood causccxists mcrc!or, appomtoncormorc rcccvcrs !or
suchposc,but maIIcascs dircctors ormstccswho havcbccngmty o!noncgIigcncc
noramcbmcho!duqmustbcpm!cncdmmg mc appommcnt. Thc commay at
any mc !orsumccntcauscmakc adccrccm mgmcrcccvcs, ordissomgmc
coqomtondm tingxs cxistmcc, orbom,as maybcpropc.
5. Rcccwcrs so appomtcd havc, ongmc usuapowcs, alImc mncuons, powcrs,
R and duucs to bc cxcciscd undcr mcdirccuon o!mc com as a con!m cd on
rcccvcs das providcd m@7, 7 d7, whcmcr mc coqomuon is
msoIvmtornot.
[4a.!77.!25,addcd !4!, 405, !J!NCL !8.0!|-RS A!J, 27bb, 20
1)
NR5 78.55 Reerganbaden ef cerperaden by majerlq ef steckhelders
dunng recelvershlp. Wmcvcr stockoIdcs hoIdmgstock cnmgmmm cxmiscat
Icastama|orq o!mc vomgpowcro!mc coqomuonshaIhavc agccd upon apw!or
mc rrgauon o!mc cotporauon d a rcsmuon by t o!mc mgcmmt d
conuoIo!xs propcrtyand busmcss,mc coqoratonmay, wmc consmto!mc disuict
com.
!. Uponmcrcconvcyancctoto!tspmpcrtydmnchiscs,mortgagcmc samc!or
suchmountasmaybcncccssaq!ormcposcs o!rcorgauon, d
2. Issucbonds or omc cvdmccs o!mdcbtcdncss, or addmonal stocko!onc or
morccIasscs,wiWorwiWoutnoma!orpmvc, orbom, orbombonds andstock, or
cmcatcs o!mvcsmcnt or pmcgauon cmcatcs, m usc mc sc !or mc m or
pmpaymmt o!mccrcdxors who W acqtmc sc, or omosc disposc o!mc
sc!ormcpmposcso!mcrcorgauon.
[50. !77.!25,NCL !|
NR578.0 Pewersefdlstnctceurt.
!. Thc com sIhavcpowcm scnd !orpcsons d papcs dto cxc y
pcrsons, inckmg mc crcdxrs d cmts, d mc prcsdmt, dircctors d omcr
omccs d agcnts o!mc cotporauon, on oam or uon, rcspccmg xs w d
msacuons d xs cstatc, moncy, goods, chattcIs, crcdxs, notcs, bd s and choscs m
acuon, rcaldpcrsomcstatc d cccts o!cvcy knd, d also rcspomg xs dcbts,
obIigauons,conuacts andIiabdi!cs,dmccbsagamstt.
2. I!ypcrsonshaIImmsc to bc swomoram, orto makc swcrs to such
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 8/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
qucsuons as sIbcput tomcpcrson, ornmsctodccwmcwhoIcmmtoucmgmc
subjotmattco!mccuon,mcdsuctcourtmaycomtsuchpcrsonto apIacco!
comcmcnt, mcrctomwtiImcpcrsonshaIIsubmtobccxcd, and payaImc
costso!mcprocccdmgs agstmcpcrson
[5!. !77.!25,NCL !b50|
NR5 78.5 Rccclvcr te takc pesscsslen efcerperatc asscts upen ceurt
erdcr. Thcnccvcr, uponordcro!mccom,wmcassistancc o!apcaccomcc, may
brcakopcn, mmcdayc, mchouscs, shops,wmchouscs,doors,u, chcsts oromcr
pIaccs o!mc coqomuonwhcc yo!ts goods, chattcIs, choscs macuon, notcs,bd s,
moncys, books, papcs oromcr wgs orcccts havc bccn usukqt, or sIbc,
d takc posscsson o! mc sc and o!mc bnds d tcncmmts bcIongg m mc
coqomton.
[52.!77.!25,NCL !b5!|
NR5 78.70 1nvcntery, llstefdcbts andrcperts by rccclvcr. Thc rcccivcr, as
soonas convmcnt, sI Iaybc!orcmc dismctcourtamand copIctcmvcntoryo!aII
mc cstatc, pmpcrqd cots o!mc coqomtion, i natu d probabIcvaIuc, and
account o!aIdcbts duc omdto t, ncmq as mc samc canbc cmcd, d
mc a rqortto mc court o!m or hcr pmcccdmgs at Icast cv J monms mccacr
dwgmcconmucco!mcmst, dwhmcvcrmcrcccivcshaIIbc soordcrcd.
[5J.!77.!25,NCL !b52|
NR5 78.75 Crcdlters' preefs efclalms;whcnpardclpaden barrcd; nedcc.
P cndtors shaII prcscnt and makc pmo!to mc rcccivcr o!mcx nspccmc cws
agamstmccoqorauon w bmonms ommc datc o!appommcnt o!mcrcccivcr or
mstcc !ormccoqomtion, orsooncumccomsIordcd dxcct, daIlcnditors
andchts !angtodosowmmc tmcmtcdbymsccton, ormcmcpnscrcd
bymcordcro!mccourt, shaIIbymcdrccuono!mccombcbm dompmcqamgm
mc dismuuon o!mc asscts o!mc coqomtiot Thc com shaII aso prcscnTc what
noucc, bypubIcauonoromosc, sIbcgcnto crcdxorso!suchmuono!mc.
[54.!77.!25,A!4, !58, !4JNCL !b5J|
NR5 78.80 Crcdlters' clalms te bc m wrldng undcreath; cxamlnaden ef
clalmanu. Evcq cbagamsty coqorauon!orwhcharcccivc has bccnappomtcd
shaIIbcprcsmtcd to mc rcccwcr mwting donoam. Thccht, urcqux, shaII
submit to such cxaton m rcIauon to mc cb as mc com shaIl dxcct, d shaII
producc suchbooksand papcrs rcIamgto mc cbas shaIIbc rqmcd. Thc court shaII
havc powcrto aumomcmc nccivcm cxc, wdcr oamor a tion, aIwcsscs
produccdbc!orcmcnccvcmucmgmccborypmmcrco!.
[55.!77.!25,NCL !b54|
NR5 78.85 Acdenencrcdlters'clalms;appcalefdlsallewcdclalms.
!. Thcckko!mcdismctcom,mmcdatcIyuponmccrauono!mcumc mcd !or
mc mg o! cws, shaI nom mc mstcc or rcccwcr o!mc mg o!mc cws. Thc
mstcc orrcccivcrsImspcctmc cws d wJ0 days nomcachcht o!m
or hc dccison. Thc mstcc or rcccvcr may rqmc aII crcdtors whosc cws a
ww.leg.stt.nv.usIivisionLegaILibraryIRS/RS-078.hb1 856
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
dsputcdtosubmtmcmsclvcstocuonmmIauontothcxcbs,andtoproducc
such books d papcs rcIamg to mcr cbs as mc mstcc or mccivcrcqucsts. Thc
mstcc orrcccwcrmaycxc,wdcoamor ton, aIIwcsscspmduccd bc!orc
hmorhcrmgardngmc cbs, d shaIIpassondaIowordsaIIowmc cbs, or
anypartthcr[ dnommcchts o!mcdctmuon.
2. Evcrycrcdxororchtwhohmccvcdnotccmmmcmccivcormstccmat
m orhcr cbh bccn dsaIIow mwhoIc or mpmmay appcato mc dsuct com
wm 30 days thm. Thc court, ac a hcmg, shaII dctmc mc rgts o!mc
pmcs.
56.!77.!925,NCL !655|7 [Part57.!77.!925,NCL !656|SA!99!, !239)
NR578.95 5ubsdtudenefrecelverasparqabatementefacdens.
!. Arcccivcr, uponappIcauonbymorhcr, s
g
Ibcsubstcdaspapbtor
compwtmmcpIaccdstcado!mccoqorauonmysutorpmccmgatIaworm
cquwhchwpcndmgatmctmco!mcmccvcr' sappommt.
2. No acuonagstamcvcro!acoqoratonshaIabatcbymasono!mcmcivcr' s
dcam, but, upon suggcsuon o!mc !acts on thc mcord, shaI bc conmucd agamst mc
rcccivc' ssucccssor, oragamstmc coqorauonncascno ncwrcccwcrbcappomtcd.
5B.!77.!925,NCL !657|7 [59.!77.!925,NCL !65B|
NR578.700 5alesefencumberederdeteneradngpreperq. Whccpropcrqo!
an msoIvcnt coqomuons atmcmc o!mcappommcnt o!arcccivcr mcmbmd w
mortgagcs oromcrIms,mcIco!whchs brougtmqucsuon,ormcpropms o!
achmctcrwhchWmatmdctcoratcmvcpcndmgmcgauon,mcdsmctcom
may ordcrmcrcccivcto scIImcsc, cIcaro!cncmbmccs, at pubIc orprivatc saIc,
!or mc bcst pncc mat c bc obtamcd, d pay mc moncy nto court, mcrc to rcm
subjotm mc sc mcqumcs o!aIIpmcs mmtcmst as wmc pmpcrqbc!orc
sac, tobcdsposcdo!as mccomshaIdmct.
60. !77.!925,NCL !659|
NR578.705 Cempensaden,cesuandeQenses efrecelver. Bc!orc dsmuuon
o!mcasscts o!msoIvcnt coqorauonongmccrcditors or stockoIdcs,mc dsuct
comshaIaowarcasonabIccopmsatonmmcmccvcr!orm orhcr soccsd mc
costs and cxpcnscs o!mc admsmuon o!mc mst, d mc costo!mc proccmgs m
mccourt,tobctpad outo!thc asscts.
6!. !77.!925,NCL !660|
NR5 78.710 Dlsnlbuden efmeney te credlters and steckhelders. Acr
paymmt o! aII aIowccs, ccnscs d costs, d mc sats!acuon o! aII spow d
gcncra Icns uponmc mnds o!mc coqomuon to mc cxtmt o!mcx IawIpror, mc
crcditors shaII bc pad proporuonatcq to mcamount o!mcxrcspccuvc dcbts, cxcqmg
mortgagc mjudgmt crcdxrs whcn mcjugmth notbccnbycon!csson!ormc
posco!pm!mcrcdxors.Thccrcdxors shaIIbccnu to dsmuuonondcbtsnot
duc, mng msuch cascarcbatco!mtcrcst,whmmtcrcsts not accrmg on mc sc.
Thc sIus mnds, uany, payt o!mc cmdtors and mc costs, ccnscs d
aIowccs, shaI bc dsmutcd ong mc smckoIdcrs or mcx Icga rqrcscntamcs m
proporuontomcrmtccsts.
62.!77.!925,NCL !66!|
ww.leg.stt.nv.usIivisionLegaILibraryIRS/RS-078.hb1 86/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
NR578.715 Acts efmajentyefrccclvcrs ccctual;rcmevalandvacanclcs.
L Evcymattcrmd mgbymchaptcrcqmcdto bcdoncbyrcccvcrs ormstccs
shalI bc good md ccctuaI, m alI mtcnts md puqoscs, upcr!omcd by amajonq o!
cm
2. Thc disuct court may rmovc my rcccvcr ormstcc md appomt mocr or
ocrs mhs orhcrpIacctoDmyvacmcywhchmayoccw.
6J. !TT.!25,NCl !662|
NR578.720 Empleyccs'llcns ferwagcswhcnceg eradenlnselvcnt.
L Whmcvcr mycoqomuon bccomcs msoIvcnt or dssoIvcd manyway or!or
any causc, c mIoyccs domg Iabor or socc, o!whatcvcr charactc, m c rcgmr
cpIoy o!c coqomton, havc aN onc asscts mo!!orc mout o!wagcs
duc to cm, not cxcccdng $!,000, whch havcbcm cmcd w Jmons bc!orc c
datc o!c msoIvcncy or dissoIuuon, whch must bc pad bc!orc any ocr dcbt o!c
coqomton.
2. Thcword "mIoyccs"docsnotncIudcmyo!c omccn o!thccoqorauon.
86. !TT.!25,NCl !685SA!5,60T, !8J, !J62)
REDCOR?ORAT1ON;RENEWAANDREAOFCHRTER5
NR5 78.725 Demcsdc cerperadens ln cxstcncc en Apnl 1, 1925, may
rclncerperatcundcrU chaptcr.
L Anycoqomuon orgcdand cxsugundcr c Iaws o!m Statc onApriI !,
!25,mayrcmcoqomtcundcmchaptcr, cmcrudccscoradm mntnmc,by.
(a) IwwtcSccmo!Statc acmcatcsbyts prcsdmtmdattcstcd
by ts sccrc md duIy auom by a mccg o! c stockoIdcs caIcd !or at
puqosc, sctg !orUc staVts mqux mmopcmcav o!mcoqorauonby
NST8.0J5,and
(b)Sur dmngccsugc orcmcatco!mcoqorauono!ccoqomuon,
andaccqmgcprovisons o!mchaptcr.
2. Upon c Nng o!c cmcatc, c coqomuon shaI bc dccm m bc
mcoqoratcd undcr m chaptcr md s mu!cd to md posscsscs aI c pmgcs,
mnchiscs m powcs as uopmcoqoratcd undcrm chaptcr. Pcpropcrdcs,
rQts andpmIcgcs crcto!orcbcIongmgtoccoqorauon,whchwcrcaqmrcdbyg,
nt, convcyncc, assigmmtorocrwsc, ahccbyram, appmvcdandconcd
and assurcd to c coqorauonwUc ccct m m aII mtcnts md puqoscs as uc
smcBbcmopacqmcdmumcoqomuonudcrmchaptcr.
J. Anycoqorauonrcmcoqoraug undcrm chaptcs subjcctto a!Ic conuacts,
duucs and obhgauons crcto!orcrcsugonc coqorauonwhoscchmcorcmatc
o!mcoqorauonsussm mdcrcdorto whchccoqomuonscnmmywayIabIc.
82.!TT.!25,NCl !68!SA!T!, ! !05,200J_J!06)
NR5 78.7J0 Rcncwalerrcvlval:?reccdurc;fcc;ccrdcatc as cvldcncc.
L Excqtas ooscpmvdmN_8!52, my coqorauonwhchdd cxstor
is cxisugwdcrc Iaws o!m Statc may, uponcopgwcprovisions o!@
T8. !80, procm a rmcwal or rcvva o!xs chmc !ormy pcrod, togccr waIc
rQts, mnchiscs,pmIcgcs md m !cs, and subjcctto a!Its cxsung md pmmg
dcbts, duucs and habducs sccurcd or moscd byi or c md mcndmcnts
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 87/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
crcto,orcxisugc,byNng.
(a)AcmatcwcSccrcto!Statc,whchmust sct!orU.
(!)Thcnmc o!c coqomton, whchmustbc c nmc o!c coqomuonat
c uco!crcncwa!orrcviva, ori nmc atcuc xs originaIchmcrcpircd.
(2)Thcm!omauonmquircdpursuntto@7
(J) Thc datc whmcrmcwal orrcviva! o!cchmcr is to comccorbc
cccmc,whchmaybc,inccso!arcviva,bc!omcdatco!ccmcatc.
(4)Whccrornotcrcncwaornais to bcpqmmd, unotpqctI,
cuc !orwhchcmncwa!orrcvwaistoconuw.
(5) That c coqomton dcsmngto rcncw or rcvivc ts chcr is, or h bccn,
orgcd md c g on c busmcss auorizcd byts cxisung or op c md
mcndmcnts crcto, md dcsxcs to rcncw or continuc mroQ rcviva! ts cstcncc
pursuanttomd subjccttocprovisions o!mchaptcr.
(b)AIist o!ts pmsidcnt, sccmmd ucasw, orc cquivacntccoJ md a o!
ts dmcmrs md cxaddrcsscs,cmcrcsdmccorbusincss.
2. Acoqorauonwhoscchmch notcpmandisbcingmcwcd shaIlcauscc
cmcatcto bc sq by momccro!c coqorauon. Thccmcatcmustbc approvcd
byamajoro!cvougpowcr o!cshms.
J. Acoqorauon scckgto mvvc xs opor mcndcd chmcr shaIcauscc
cmcatc to bc scd by a pcson or pcrsons dcsgtcd or appomtcd by c
stockoIdcrs o!c coqorauon. Thcsqgand mg o!ccmcatcmustbc approvcd
bycwrttcnconscnto!stockoldcso!c coqomtonhoIdingatIcastamajoro!c
voug powcr and must cont a mcx at m conscnt was sourcd. Hno stockhas
bccn issucd, c cmatc must contan a statcmmt o! mat !act, and a major o!c
dircctors mm omccmay dcsqatcthc pcsonto sq c cmatc. Thc coqorauon
shapayto c Sccmo!Statcc !cc rmcdtocstabIishancwcoqomuonpursuant
mcprovisons o!mchaptcr.
4. ThcIcdcmcatc, oracopycro!whchh bcmcmcdmdc cmd md
sca o!c Sccrctary o!Statc, must bc rcccivcd m a cour|s md pIaccs as prma !acc
cvidmcc o! c !acts crcm statcd md o! c cxistmcc md mcoqomuon o! c
coqomtonccinnamcd.
[J.!77.!25|-(NS A !J7, 4, !5J, J!4, !85, ! 872, !J, 75, I5, 2I00,
!7,705, !!@! ,]_,]2_,)@!_, )
NR5 78.740 Rcncwalerrcvval:5ms efcerperaden.
!. Any coqorauoncxisugonorincoqorat Apr !, !25, dcsmgto rcncw
or rcvivc ts coqoratc cxstmcc, upon cop[ngwc provisons o!m chaptcr, is
and conmcs !orc uc statcd mi cmcatc o!rcncw!to bca coqoraton, and m
addmon to c rits, pmgcs and m cs con!m cd by ts op chmcr,
posscsscs md cn|oys a cbcncs o!mchaptcmta applcabIcto cmm o!xs
busmcss,md is subjcctto crcsucuons md Iiabwcs bym chaptcr moscd on such
coqomuons.
2. Excqtas ocrwscprovdcd inNS 78. !85, amncwa! orrcvivapwsumt to
NS _0mIatcs bakto cdatc onwhichccoqorauon`s cm|cr cpircd orwas
rcvokcd and mncws orrcvivcs c coqorauon`s c md ritto msactbusmcss as
usuchritB ata ucs mcd mm!orccmd ccct.
[5.!77.!25,NCL !b4|- SA!J,7b,20Q242!}
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 88/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
5U1T5AGAH5TCORFORAT1ON5,DHCTOR5,O111CR5,
MFLOY5,AGNT5AND 5TOCKOLR5
NR5 78.745 Acdenagalnststeckhelderferunpald subscrlpdens;llmltaden ef
acden. No acuon shaIbc bmugt bymccoqomuonagstany stockoIdcr !or y
waid subscqtionunIcss w2ycms amc dcbtboomcs duc, d no acuonshaII
bcbmugt@stmcstockoIdcramcstockoIdcr shaIIccasctobcmcowco!mc
shmcs, unlcss brougtw2 ycms ommcmc mc stockoIdc shaIhavc ccascdto
bcastockoIdcr.
[!7.!77.!25,NCL !b!b|
NR578.74 Acdenagalnststeckhelderbyjumentcredlter;llmltadens.
L OnappIicauonto acomo!copctcntjsdicuonby ajudgmt crcditoro!a
stockoIdcr,mccommaychargcmcstockoIdcr' sstockwpaymcnto!mcunsauscd
mowt o!mcjudgmtwmtcrcst To mccxtcnt so chmgcd,mcjudgmtcrcdxrhas
onIymcrqts o!sigcco!mc smckoIdcr' s stock
2. This sccuon.
(a)AppIics onqtoacoqomtionmt.
(1) Hmomm!but!cwcm!00stockoIdcs o!rccordatyumc.
(2)lsnotasubsidwo!apubIicqmdcdcoqorauon,cimcmwhoIcormpart.
(J)lsnotapm!cssionacoqomtiondccdin@8.
(b)DocsnotappqtoyIiabiIo!astockoIdcmatcxistsmcrcsmo!acuon
Ncdbc!orcJ1, 2007.
(c) Providcs mccxcIusivcrcmybywhichajugmtcrcdxoro!asmckoIdcror
anassigcc o!astockoIdcrmaysaus(ajudgcnt outo!mcstockoIdc' sstocko!mc
coqomuon.
(d) Docs notdqnvcystockoIdcr o!mc bcnc o!anyccpuon appIicabIcto
mcstockoIdc' sstock
(c) DocsnotsupcscdcypmatcagcmtbctwccnastockoIdcrdacmditoru
mcpmatc agcmcnt docs not comt wmc coqorauon's acIcs o!mcoqomtion,
byIaws orysharchoIdcrQcmcntmwhichthcstockoIdcrisapa.
J. A uscd mm sccuon, "gts o!anassigcc"mcans mc rqts to rcccivc mc
sharc o!mc dismuuons ordividmds pad by mc coqomuon to which mc judgcnt
dcbtorwouId omcrwiscbc mu!Icd. Thc tmndocs not mcIucmcgts to pmcgatc m
mcmgcmmt o!mcbusmcss or o!mc coqorauonorto bccomcadmctoro!
mccoqomuon.
(AddcdtoNS by2007_ 2bJ,A200_ 282}
NR578.747 Llabllltyefsteckhelder, dlrectererecerferdebt erllablllqef
ceQeraden.
L Ecqt as omosc providcd by spccmc statutc, no stockoIdc, dmctor or
omcc o! a coqomuon is mdividu IiabIc !or a dcbt or Iiabw o!mc coqomuon,
unIcssmcstockoldc,dircctororomccracts as mcatcrcgoo!mccoqomtion.
2. AstockoIdc,dircctororomccactsasmccgo o!acoqorauonu.
(a) Thc coqomuon is mccd d govmcd by mc stockoIdc, dxccmr or
omcc,
(b) Thcc is such m o!mtcrcst d owncrshg mt mc coqomuon d mc
stockoIdcr, dmctororomccmcmsqmabIcomcachomcr,m
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 89/96
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
(c)Adhccncc to mc coqoratc cuon o!asqaratc mtq wouId sctonmud or
promotcam!cstmjusucc.
3. Thcqustiono!whcmcrastockoIdc,dxomroromccractsasmcatcrcgoo!a
coqomtonmustbcdocdbymccourtas amattcro!Iaw.
(AddcdtoNSby !_
NR578.750 5crvlccefpreccssencerperadens.
!. my acuon comc agamst any coqorauon ny court o!m Statc,
scrvcco!proccssmaybc madc mmc m crprovdcdbyIaw druIco!com!ormc
scrvcco!civIproccss.
2. Scrvcco!proccssonacoqomuonwhosccmtcrhbcmrcvok orwhchhas
bccn continud as abody coqoratc pmsut to @@ may bcmadc bymg
copcs o!mc proccss d any assocatcd mcords by cmcd maI, wrcm rccct
rcqucstcd,to.
(a)Thcrcgstcrcdagcnto! mccoqorauon,ummisonc, d
(b)Eachomccrand dxccmro!mccoqorauon as ncd nmc IstIt Ncdwmc
Sccmo!Statc bc!orcmc dssokuon orcrauon o!mc coqomuon or mc !or!cturc
o!xs cmcr.
Thcm co!scgpmccss dcscrmm subsccuondocsnot cctmcvadxy
o!yomcrsoccaumomcdbyIaw.
B! :!77:!925,NCL !6B0SA!979, 56B, !997, 474, 20 17.l2; 2ll
3l07,20072650)
NR5 78.7502 Dlscrcdenary and mandatery lndcmcaden ef eccrs,
dlrccters,cmpleyccsanda
cntsGcncralprevlslens.
!. Acoqorauonmay
2@
S_ccn!ScssogJ_
NR5 78.75 Flllng fees:Cermcate changlng number efautherlzed shares;
cermcate ef amendment te ardcles; cermcate ef cerrecden; cermcate ef
deslgnaden;cermcateeftermlnaden;cermcateefwlthdrawal.
! . Thc!cc!ormgacmcatcchanggmcnmbcro!aumomcdshaspmsutto
NS 78.20 or acmcatc o!mmdmcnt to mcIcs o!mcpomuon matmcncs mc
coqomuon' s aumomcd stock or a cmatc o! conccuon mt mcrcascs mc
coqomtion' s aumomcd stockis mc dm mncc bctwccnmc !cc coputcd atmc ratcs
spccmcd inNS 78.7b0onmc totaaumorucdsmcko!mc coqorauon, mcIudmgmc
proposcd mcmsc, d thc !cccoputcd atmc ratcs spomcd m@7 uponmc
mtaI aumorucd cap, cxckdmgmc proposcd mcmsc. mno cascmay mcmountbc
Icssm$!75.
2. Thc !cc!ormg acmcatco!mmdmcntto mcIcs o!mcoqorauonmatdocs
notmcmascmccoqomuon's aumomcdstockoracmcavo!conccuonmt docsnot
mcrccthc coqorauon'saumormstockis $I75.
J. Thc !cc!ormg acmcatcormd cmcatcpursuanttoN_!_
is$!75.
4. Thc !cc!ormg acmcatc o!tmuonpmsut to NS 78.20, 78.J80 or
7
oracmcatco!wdrawaIpursuanttoN_!_is $!75.
[Pm ! .52.!JJ,A!4, JbJ,!5!, JJ|-SA!8J,b!, !8, 78, I!, !240,
!J, 7, !5, ! ! !5, 2!0!, !7, 708, !_ !52,200] !J7, J!77, J!, 200J_20m
S Ss3
NR578.77 Flllngfees:Cermcatesefrestatedardcles eflnceQeraden.
! . Thc !cc!ormg acmcatc o!rcstatcd mcIcs o!mcoqorauonmtdocs not
mcrcascmccoqorauon'saumomstockis $I75.
2. Thc!cc!ormgacmcatco!rcstatcd mcIcs o!mcoqomuonmatmcrccsmc
coqomton's authomcd stock is mc dm mncc bcmccn mc !cc coputcd pursuant to
@7
bascd upon mc tota! aumomcd stock o!mc coqorauon, mcludmg mc
proposcd mcmsc, d mc !cc coputcdpmsut m NS 78.7b0 bascd upon mc tota
aumomcd stocko!mccoqomuon, cxcIudmgthcproposmcrcasc. mno cascmaymc
amowtbcIcssm$!75.
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 9/6
11/1/11 NRS: CHAPTR 78 PRIVATE CORPORTIONS
(AddcdtoNSby I5, b82,A !8J, b!, !8, 7, !J, 7, !5, I ! !b,200]
J
,]2@@)
NR578.780 Flllng fcc:Ccrmcatcefdlsseluden. Thc !cc!ormgacmcatc
o!dssoIuuon whcmc t occurs bc!orc or acr paymcnt o!cap d bcg g o!
busmcsss$!00.
m ! .52.!JJ,A !4, JbJ, !5!, JJ|-SA!8!, !80, !8, 7, !J, 7,
!
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2
2,
2
2
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NR578.785 Mlsccllanceusfccs.
!. Thc!cc!orcmgacopyo!mcIcso!mcoqorauons $J0.
2. Thc !cc!orcmgacopyo!cndmmtmtIcs o!mcoqomton, orma
copyo!mc tIcs amcndcd,s $J0.
J. Thc!cc!orcmanaumorzcdpntcd copyo!mcgcnmcoqorauonIawas
compIcdbymc Sccmo!Statc s $J0.
4. Thc!cc!ormscrvngacoqomtcncs $25.
5. Thc!cc !or sqa cmatc o!coqoratc cxstcncc whch docs not Istmc
prcvous rccords rcIamg to mc coqorauon, or a cmcatc o! changc m a coqoratc
nc, s $50.
b. Thc!cc !orsgg a cmatc o!coqoratc cxstcnccwhch Ists mc prcvous
rccordsrcIamgmmccoqomuons $50.
7. Thc!cc!orsgg, cmgorImg ycmcatcorrccordnotprovd !orm
N 7 to7, mcIusivc,s$50.
8. Thc!cc!orcopcspmviAcdbymcOmcco!mcSomo!Statcs$2pcpagc.
. Thc !ccs !orNng tIcs o!mcoqorauon, mcIcs o!mcgcr, orcmcatcs o!
amcndmcnt mcrcasmg mc basc sIus o! a mm or rccgmcaI mu must bc
compuvd pwsuanttoN 7, 7 and 2A2@, on mc bass o!mc owt o!
basc slus o!mc surcr.
!0. Thc!cc!orcgdpmvsomIy appmvgany roordatymcbc!orc
mcroords pmscnt !orImgs $!25.
m ! .52.!JJ,A !4, JbJ, !5!,JJ) S A!5,b8, !75, 5b5, !77, 40J,
!7, J8, !8!, !4!, !8J, b2, !85, ! 87J, I87, !058, !8, 7, !!, I24!, !J,
7, !5, ! ! !b, 1, .l , l2 ; ]
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M5CELNEOL5?ROV5ON5
NR5 78.795 Rcglstradenefnaturalpcrsen er cerperadenw g scrvc as
rcglstcrcdagcntferceQeraden,llmltcd-llabllltycempanyerllmltcdpartncrshlp.
!. AnymmpcsonorcoqomtonrcsdngorIocatm mStatcmyrcgstcr!or
mat caIcndarycm aw gcssto sccasmcrcgstcrcd agcnt o!adomcsuc or!orcg
coqomuon, mtcd-Iabdty copy or md pcrs W1 mc Sccm o!Statc.
Thcmgsuauonmuststatcmcm,Icganco!mcpcrsonorcoqoratonw gto scrvc
as mc mgstmd agmt d bc accop by a!cc o! $500 pc omcc Iocauon o!mc
rcgstmdagmt
2. Thc Sccrct o!Statc shaImM aIsto!moscpcrsons who mc rcgstcrcd
pursntto subsccuon ! dmmcmc Ist avaabIcmpcrsons scckgto dobusmcss m
m Statc.
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 9596
11/1/11 NRS: CHAPTR 78 - PRIVATE CORPORTIONS
J. Thc Sccrctaryo!Statcmaycnd ym!omauonprovdmmchstBapcrson
who amcmdcdmmchst.
(a)Rcqucstsmc cndmcnt, d
(b) Pays a!cco!$50.
4. Thc Sccmo!Statcmay adoptrcguauons prcscnmgmccontmt, mtcnancc
dpmscntauono!mchst
(AddcdtoNRS by I5, ! I ! !,A I_ !5J,200J_20m S_owScssog J,2007_
W
)
ww.leg.stt.nv.usIivisionLegaVLibraryIRS/RS-078.hb1 96/96