463.173  Restrictions on person denied license or found unsuitable.

1.  A person who has had his or her application for a license denied or who has been found unsuitable by the Commission:

(a) Is not entitled to profit from his or her investment in a:

(1) Corporation other than a publicly traded corporation, as that term is defined in NRS 463.487;

(2) Partnership;

(3) Limited partnership;

(4) Limited-liability company; or

(5) Joint venture,

ĂŠ which has applied for or been granted a license.

(b) Shall not retain his or her interest in a corporation, partnership, limited partnership, limited-liability company or joint venture beyond that period prescribed by the Commission.

(c) Shall not accept more for his or her interest in a corporation, partnership, limited partnership, limited-liability company or joint venture than the person paid for it or the market value on the date of the denial of the license or the finding of unsuitability.

2.  The Board or Commission may proceed pursuant to NRS 463.141 to enforce the provisions of subsection 1.

(Added to NRS by 1985, 2133; A 1993, 2000)