Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2021 | Updated by FindLaw Staff
1. An interest in the shares of a close corporation may not be transferred, except to the extent permitted by the articles of incorporation, the bylaws, a shareholders' agreement or a voting trust agreement.
2. Except as otherwise provided by the articles of incorporation, the provisions of this section do not apply to a transfer:
(a) To the corporation or to any other shareholder of the same class or series of shares.
(b) To heirs at law.
(c) That has been approved in writing by all of the holders of the shares of the corporation having voting rights.
(d) To an executor or administrator upon the death of a shareholder or to a trustee or receiver as a result of a bankruptcy, insolvency, dissolution or similar proceeding brought by or against a shareholder.
(e) By merger or share exchange or an exchange of existing shares for other shares of a different class or series in the corporation.
(f) By a pledge as collateral for a loan that does not grant the pledgee any voting rights possessed by the pledgor.
(g) Made after the termination of the status of the corporation as a close corporation.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 7. Business Associations; Securities; Commodities § 78A.050. Transfer of shares prohibited; exceptions - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-7-business-associations-securities-commodities/nv-rev-st-78a-050/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)