Nevada Revised Statutes 645H.510 – Asset management company that is not natural person required to designate natural person as qualified employee
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1. If an asset management company is not a natural person, the company must designate a natural person as a qualified employee to act on behalf of the asset management company.
Terms Used In Nevada Revised Statutes 645H.510
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
- Trustee: A person or institution holding and administering property in trust.
2. As used in this section, ‘qualified employee’ means:
(a) A director, officer, member, employee, manager or trustee of a partnership, corporation or limited-liability company designated by the partnership, corporation or limited-liability company to act on the behalf of the partnership, corporation or limited-liability company; or
(b) A person designated by a sole proprietorship who satisfies the requirements set forth in subsection 2 of NRS 645H.480.