Nevada Revised Statutes 463B.220 – Sale of gaming establishment by former owner: Conditions; approval of court
If:
Terms Used In Nevada Revised Statutes 463B.220
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
1. Any person who owned an interest in a gaming establishment at the date of appointment of a supervisor thereof secures a willing and able buyer for the establishment before the time when the supervisor must offer the property for sale pursuant to NRS 463B.230;
2. The persons who owned a majority of the interest in the establishment on the date of the supervisor’s appointment approve the terms and conditions of the proposed sale; and
3. The buyer obtains a license to operate the establishment within 6 months after the time when the supervisor must offer the property for sale pursuant to NRS 463B.230, the supervisor shall petition the court which appointed the supervisor for approval of the sale, providing notice to parties as the court may direct, and, if the court grants approval, shall carry out the sale on the terms and conditions agreed to between the parties.