NAC90.369. Licensing requirements inapplicable under certain circumstances.

The provisions of NRS 90.310 do not apply to a sales representative acting for an issuer effecting offers to sell or sales of securities if:

     1. The securities are set forth in subparagraph (3) of paragraph (b) of section 18 of the Securities Act of 1933, 15 U.S.C. § 77r(b)(3), or subsubparagraph (D) of subparagraph (4) of paragraph (b) of section 18 of the Securities Act of 1933, 15 U.S.C. § 77r(b)(4)(D), and the sales representative is not paid, directly or indirectly, for soliciting any person in this State; or

     2. The transactions in this State are limited to only those transactions set forth in subparagraph (2) of paragraph (h) of section 15 of the Securities Exchange Act of 1934, 15 U.S.C. § 78o(h)(2).

     (Added to NAC by Sec’y of State, eff. 10-30-97)