Employment Law Attorneys

Acquisition1 min read

1. Except as otherwise provided in subsection 2, “acquisition” means the direct or indirect acquisition of a controlling interest. 2. “Acquisition” does not include any acquisition of shares in good faith, and without an intent to avoid the requirements of NRS 78.378 to 78.3793, inclusive: (a) by an acquiring person authorized pursuant to NRS 78.378 to 78.3793, inclusive, to exercise voting rights, to the extent that the new acquisition does not result in the acquiring person obtaining a controlling interst greater than that previously authorized; or (b) Pursuant to: (1) the laws of descent and distribution; (2) the enforcement of a judgment; (3) the satisfaction of a pledge or other security interest; or (4) a merger, exchange, conversion, domestication or reorganization effected in compliance with the provisions of NRS 78.622, 92A.200 to 92A240, inclusive, or 92A270 to which the issuing corporation is a party. Source: Nevada Statutes Chapter 78.3783 (Private Corporations)