Nevada Revised Statutes Title 41. Gaming; Horse Racing; Sporting Events § 463.5665. Prior approval by Chair of Board required to grant option to purchase interest in limited partnership or to dispose of existing option to acquire such interest; review of denial of approval

1. The purported granting of an option to purchase any interest in a limited partnership which holds a state gaming license or which is a holding company or an intermediary company for an entity that holds a state gaming license or the purported sale, assignment, transfer, pledge or other disposition of an existing option to acquire such an interest is void unless administratively approved in advance by the Chair of the Board.

2. A request for administrative approval pursuant to subsection 1 must:

3. The Chair of the Board may refer a request for administrative approval to the Board and Commission for consideration or deny the request for administrative approval for any reasonable cause. A denial may be submitted for review by the Board and Commission in the manner set forth by the regulations of the Commission pertaining to the review of administrative approval decisions.

4. The Commission, upon recommendation by the Board, may require a person to apply for a finding of suitability to hold an option to purchase such an interest.