NAC90.496. Claim of exemption: Effective period.

     1. Except as otherwise provided in subsections 2 and 3, a claim of exemption (Nevada Form N-9) is effective for 1 year after the date the claim is received by the Administrator.

     2. A claim of exemption pursuant to paragraph (n) of subsection 2 of NRS 90.520 is effective for 1 year after the date the claim is received by the Administrator or the date on which the fiscal year ends, whichever is later.

     3. A claim of exemption pursuant to NAC 90.516, 90.517, 90.518 or 90.519 is effective as long as the applicable qualifications are met for the exemption. Any person who is offering or selling such securities after the claim of exemption is received by the Administrator is covered by the claim of exemption as long as it is effective.

     (Added to NAC by Sec’y of State, eff. 11-19-92)