Nevada § 78.418 - “Control,” “controlling,” “controlled by” and “under common control with” defined; presumption of control
Full text of Nevada Nevada Revised Statutes § 78.418 — “Control,” “controlling,” “controlled by” and “under common control with” defined; presumption of control, with citation guidance and answers to common questions.
§ 78.418. “Control,” “controlling,” “controlled by” and “under common control with” defined; presumption of control
1. Except as otherwise provided in subsection 2: (a) “ Control ,” used alone or in the terms “ controlling ,” “ controlled by ” and “ under common control with ,” means the possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of a person, whether through the ownership
of voting securities, by contract or otherwise. (b) A person's beneficial ownership of 10 percent or more of the voting power of a
corporation's outstanding voting shares creates a presumption that the person has
control of the corporation: (1) In the absence of proof by a preponderance of the evidence to the contrary; or (2) Unless any other stockholder of the corporation, other than an affiliate or associate
of the person, is the beneficial owner of an equal or greater percentage of the voting
power of the corporation's outstanding voting shares. 2. A person is not considered to have control of a corporation if the person holds
voting power, in good faith and not for the purpose of circumventing the provisions
of this chapter, as an agent, bank, broker, nominee, custodian or trustee for one
or more beneficial owners who do not individually or as a group have control of the
corporation.
Frequently Asked Questions About Nevada § 78.418
What does Nevada Revised Statutes § 78.418 cover?
Section 78.418 ("“Control,” “controlling,” “controlled by” and “under common control with” defined; presumption of control") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 78.418?
A common citation format is "Nevada Revised Statutes § 78.418" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 78.418 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.