Nevada Administrative Code
Chapter 90 - Securities
Section 90.Sec. 29 - NEW

Universal Citation: NV Admin Code 90.Sec. 29

Current through December 12, 2024

1. An issuer of securities or an agent acting on behalf of the issuer may deliver an offering document over the Internet or by other electronic means or in machine-readable format if:

(a) The offering document:
(1) Is prepared, updated and delivered in a manner consistent and in compliance with state and federal securities laws;

(2) Includes the following statement, "Clarity of text in this document may be affected by the size of the screen on which it is displayed";

(3) Satisfies any formatting requirements applicable to printed documents, including, without limitation, a requirement relating to font size and typeface;

(4) Is identical in content to a printed version, except for any content relating to:
(I) Electronic-specific instructions or procedures; and

(II) Daily net asset value;

(5) Is delivered as a single, integrated document or file, or as a single package or list when multiple offering documents are delivered;

(6) Provides notices to investors or prospective investors that any document or content that is external to the offering document and is accessed through any hyperlink to the document or content is provided by an external source; and

(7) Is delivered in an electronic format that intrinsically enables the recipient to store, retrieve and print the offering document; and

(b) The issuer or the agent acting on behalf of the issuer:
(1) Obtains informed consent from the investor or prospective investor to electronically receive the offering document;

(2) Ensures that the investor or prospective investor receives timely, adequate and direct notice when an offering document has been delivered electronically;

(3) Employs safeguards to ensure that delivery of the offering document occurred at or before the time required by law in relation to the time of sale; and

(4) Maintains evidence of delivery by keeping records of its electronic delivery of the offering document and makes such records available on demand by the Administrator.

2. Informed consent to receive offering documents electronically may be obtained in connection with each new offering or globally, either by the issuer or by an agent acting on behalf of the issuer. The investor may revoke the consent at any time by informing the party to whom the consent was given or, if such party is no longer available, the issuer.

3. Investment opportunities shall not be conditioned on participation in any electronic initiative.

4. As used in this section, "delivery" means that the offering document was conveyed to and received by the investor or prospective investor, or that the storage media in which the offering document was stored is physically delivered to the investor or prospective investor.

Added to NAC by Sec'y of State by R018-21A, eff. 6/2/2023

NRS 90.390, 90.750

Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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