Section 90.516 - Nonissuer transaction by sales representative licensed in State: Security included or designated for inclusion in Nasdaq SmallCap Market1. A nonissuer transaction by a sales representative licensed in this State of an outstanding security that is included or designated for inclusion in The Nasdaq Capital Market is exempt from the registration requirements of NRS 90.460 if: (a) The security is sold at a price reasonably related to the current market price of the security at the time of the transaction;(b) The security does not constitute all or part of an unsold allotment to, or subscription or participation by, a broker-dealer who is an underwriter of the security;(c) The issuer of the security has been in continuous operation for at least 2 years before inclusion or designation for inclusion of the security in The Nasdaq Capital Market;(d) The issuer of the security has not undergone a major reorganization, merger or acquisition during the 30 days preceding the inclusion or designation for inclusion of the security in The Nasdaq Capital Market which is not reflected in The Nasdaq Capital Market listing; and(e) The issuer of the security is not in bankruptcy or in receivership at the time of the offer or sale of the security.2. An exemption provided by this section is available if, preceding the initial use of the exemption, the person claiming the exemption:(a) Pays a fee of $300 to the Administrator; and(b) Files a Claim of Exemption From Securities Registration (Nevada Form N-9) with the Administrator.Nev. Admin. Code § 90.516
Added to NAC by Sec'y of State, eff. 11-19-92; A by R016-02, 8-6-2002; R047-04, 5-25-2004; A by R018-21A, eff. 6/2/2023