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2025 Nevada Revised Statutes
Chapter 671 - Money Transmission
NRS 671.015 - "Passive investor" defined.

Universal Citation:
NV Rev Stat § 671.015 (2025)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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"Passive investor" means a person that:

1. Does not have the power to elect a majority of key individuals or executive officers, managers, directors, trustees or other persons exercising managerial authority of a person in control of a licensee;

2. Is not employed by and does not have any managerial duties of a licensee or person in control of a licensee;

3. Does not have the power to exercise, directly or indirectly, a controlling influence over the management or policies of a licensee or person in control of a licensee; and

4. Does either of the following:

(a) Attests to the characteristics set forth in subsections 1, 2 and 3 in a form prescribed by the Commissioner; or

(b) Commits to the characteristics set forth in subsections 1, 2 and 3 in a written document.

(Added to NRS by 2023, 99)

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