Nev. Rev. Stat. § 231A.310

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 231A.310 - Qualified community development entity or impact qualified community development entity not entitled to pay to affiliates fees in connection with qualified investments before decertification

A qualified community development entity or impact qualified community development entity is not entitled to pay to any affiliate of the qualified community development entity or impact qualified community development entity any fees in connection with any activity under this chapter before decertification pursuant to NRS 231A.300 of all qualified equity investments or impact qualified equity investments issued by the qualified community development entity or impact qualified community development entity. This section does not prohibit a qualified community development entity or impact qualified community development entity from allocating or distributing income earned by it to such affiliates or paying reasonable interest on amounts loaned to the qualified community development entity or impact qualified community development entity by those affiliates.

NRS 231A.310

Added to NRS by 2013, 3453; A 2023, 3366

Amended by 2023, Ch. 517,§23, eff. 7/1/2023.

Added by 2013, Ch. 532,§23, eff. 6/12/2013 for the purpose of adopting regulations and performing any other preparatory administrative tasks that are necessary to carry out the provisions of this act, and on 10/1/2013 for all other purposes.