Nevada Administrative Code (Last Updated: January 6, 2015)

NAC678.008. “Unimpaired capital and surplus” interpreted.

Latest version.

For the purposes of this chapter and NRS 678.710, the Division shall interpret the term “unimpaired capital and surplus” to mean shares plus postclosing, undivided earnings. The term does not include regular reserves or special reserves required by this chapter or chapter 678 of NRS.

(Added to NAC by Comm’r of Financial Institutions by R110-06, eff. 6-28-2006)

                    
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