Nevada Revised Statutes 78.426 – ‘Preferred shares’ defined
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‘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:
Terms Used In Nevada Revised Statutes 78.426
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
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.