463.172  Power of Chair to approve transfer of interest in license, registration, finding of suitability or approval to or from inter vivos trust; approval of Chair required before amendment to inter vivos trust effective.

1.  The Chair of the Board, in the Chair’s sole and absolute discretion, may:

(a) Provide written approval for a person to transfer an interest for which the person has been licensed, registered, found suitable or approved, to or from an inter vivos trust; and

(b) Administratively approve any licensing, registration, finding of suitability or approval required for the person, the trust or the interest as a result of the transfer.

2.  An administrative approval received pursuant to this section relates back to the date on which the trust was executed.

3.  Prior written administrative approval from the Chair of the Board must be obtained before any amendment to such a trust is effective.

(Added to NRS by 1981, 1249; A 1995, 203; 1997, 117)