Nevada Revised Statutes 370A.030 – ‘Affiliate’ defined
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‘Affiliate’ means a person who directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or control with, another person. Solely for the purposes of this definition, the terms ‘owns,’ ‘is owned’ and ‘ownership’ mean ownership of an equity interest, or the equivalent thereof, of ten percent or more, and the term ‘person’ means an individual, partnership, committee, association, corporation or any other organization or group of persons.
Terms Used In Nevada Revised Statutes 370A.030
- 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