Nevada Revised Statutes 349.298 – Validity of securities not dependent on proceedings relating to project or completion of purpose; purchasers not responsible for application of proceeds
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1. The validity of any securities shall not be dependent on nor affected by the validity or regularity of any proceedings relating to a project or the proper completion of any purpose for which the securities are issued.
Terms Used In Nevada Revised Statutes 349.298
- Dependent: A person dependent for support upon another.
2. The purchaser or purchasers of the securities shall in no manner be responsible for the application of the proceeds of the securities by the State or any of its officers, agents and employees.