Nevada § 463.540 - Limitation on certain powers of corporations other than publicly traded corporations after licensing; approval of Commission
Full text of Nevada Nevada Revised Statutes § 463.540 — Limitation on certain powers of corporations other than publicly traded corporations after licensing; approval of Commission, with citation guidance and answers to common questions.
§ 463.540. Limitation on certain powers of corporations other than publicly traded corporations after licensing; approval of Commission
After licensing pursuant to NRS 463.170 , a corporation, other than a publicly traded corporation: 1. Before it may issue or transfer any security to any person, shall file a report
of its proposed action with the Board and Commission, which report must request the
approval of the Commission. The Commission shall have 90 days within which to approve or deny the request. If the Commission denies the request, the corporation shall not issue or transfer
any such security. 2. Shall file a report of each change of the corporate officers and the members of
its board of directors with the Board and Commission within 30 days after the change
becomes effective. The Commission has 90 days within which to approve or disapprove the change. During the 90-day period and thereafter if the Commission does not disapprove the
change, the officer or member of the board of directors is entitled to exercise all
powers of the office to which the officer or member was so elected or appointed.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 463.540
What does Nevada Revised Statutes § 463.540 cover?
Section 463.540 ("Limitation on certain powers of corporations other than publicly traded corporations after licensing; approval of Commission") 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 § 463.540?
A common citation format is "Nevada Revised Statutes § 463.540" (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 § 463.540 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.