Nevada § 116.007 - “Affiliate of a declarant” defined
Full text of Nevada Nevada Revised Statutes § 116.007 — “Affiliate of a declarant” defined, with citation guidance and answers to common questions.
§ 116.007. “Affiliate of a declarant” defined
“ Affiliate of a declarant ” means any person who controls, is controlled by or is under common control with
a declarant. For purposes of this section: 1. A person controls a declarant if the person: (a) Is a general partner, officer, director or employer of the declarant; (b) Directly or indirectly or acting in concert with one or more other persons, or
through one or more subsidiaries, owns, controls, holds with power to vote or holds
proxies representing, more than 20 percent of the voting interest in the declarant; (c) Controls in any manner the election of a majority of the directors of the declarant;
or (d) Has contributed more than 20 percent of the capital of the declarant. 2. A person is controlled by a declarant if the declarant: (a) Is a general partner, officer, director or employer of the person; (b) Directly or indirectly or acting in concert with one or more other persons, or
through one or more subsidiaries, owns, controls, holds with power to vote or holds
proxies representing, more than 20 percent of the voting interest in the person; (c) Controls in any manner the election of a majority of the directors of the person;
or (d) Has contributed more than 20 percent of the capital of the person. 3. Control does not exist if the powers described in this section are held solely
as security for an obligation and are not exercised.
Frequently Asked Questions About Nevada § 116.007
What does Nevada Revised Statutes § 116.007 cover?
Section 116.007 ("“Affiliate of a declarant” defined") 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 § 116.007?
A common citation format is "Nevada Revised Statutes § 116.007" (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 § 116.007 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.