Nevada § 90.320 - Exempt broker-dealers and sales representatives

§ 90.320. Exempt broker-dealers and sales representatives

1. The following broker-dealers are exempt from licensing under NRS 90.310 : (a) A broker-dealer who is registered or, is not required to be registered under the

Securities Exchange Act of 1934 1 and who has no place of business in this State if: (1) The transactions effected by the broker-dealer in this State are exclusively with

the issuer of the securities involved in the transactions, other broker-dealers licensed

or exempt under this chapter, and financial or institutional investors; (2) The broker-dealer is licensed under the securities laws of a state in which the

broker-dealer maintains a place of business and the broker-dealer offers and sells

in this State to a person who is an existing customer of the broker-dealer and whose

principal place of residence is not in this State; or (3) The broker-dealer is licensed under the securities laws of a state in which the

broker-dealer maintains a place of business and during any 12 consecutive months the

broker-dealer does not effect transactions with more than five persons in this State

in addition to the transactions with the issuers of the securities involved in the

transactions, financial or institutional investors, or broker-dealers, whether or

not the offeror or an offeree is then present in this State. (b) Other broker-dealers the Administrator by regulation or order exempts. 2. The following sales representatives are exempt from licensing under NRS 90.310 : (a) A sales representative acting for a broker-dealer exempt under subsection 1; (b) A sales representative acting for an issuer in effecting transactions in a security

exempted by paragraphs (a), (b), (c), (d), (k), (l) or (m) of subsection 2 of NRS 90.520 ; (c) A sales representative acting for an issuer effecting offers or sales of securities

in transactions exempted by NRS 90.530 ; (d) A sales representative acting for an issuer effecting transactions with employees,

partners, officers or directors of the issuer, a parent or a wholly owned subsidiary

of the issuer, if no commission or other similar compensation is paid or given directly

or indirectly to the sales representative for soliciting an employee, partner, officer

or director in this State; and (e) Other sales representatives the Administrator by regulation or order exempts. 1

15 USCA § 78 et seq.