Section 90.395 - DefinitionsAs used in NAC 90.395 to 90.538, inclusive, unless the context otherwise requires:
1. "Commission" means any consideration paid for services rendered, whether received by or accruing to the benefit of a person in connection with the distribution of securities or otherwise. The term includes cash, selling discounts, fees, securities, contracts and any other thing of value.2. "Dilution" means the difference between: (a) The net tangible asset value of the issuer allocable to the equity securities being offered, calculated by dividing the net tangible asset value of the issuer by the number of equity securities outstanding, including the securities being offered; and(b) The aggregate offering price for the securities being offered.3. "Underwriter" means a person who purchases any security from the issuer with a view to, or offers or sells any security for an issuer in connection with, the distribution of the security, or participates in the direct or indirect underwriting of any such undertaking, but does not include a person whose interest in an undertaking is limited to that of a distributor or seller, and who receives a commission, if a commission is paid, not in excess of the usual and customary commission received by a distributor or seller.Nev. Admin. Code § 90.395
Added to NAC by Sec'y of State, eff. 4-22-88; A 10-16-89; 11-19-92