Nev. Rev. Stat. § 78.426

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

Section 78.426 - "Preferred shares" defined

"Preferred shares" means any class or series of shares of a resident domestic corporation that under the articles of incorporation of the resident domestic corporation:

1. Is entitled to receive payment of dividends before any payment of dividends on some other class or series of shares; or

2. Is entitled in the event of any voluntary liquidation, dissolution or winding up of the corporation to receive payment or distribution of a preferential amount before any payments or distributions are received by some other class or series of shares.

NRS 78.426

Added to NRS by 1991, 1203; A 2011, 2785

Added to NRS by 1991, 1203; A 2011, 2785