Section 90.090 - "Investment contract" interpretedAn "investment contract" as used in NRS 90.295, includes:
1. Any investment in a common enterprise with the expectation of profit to be derived substantially through the efforts of a promoter or other third party; or2. Any investment by which:(a) An offeree furnishes initial value to an offeror;(b) A portion of this initial value is subjected to the risks of the enterprise;(c) The furnishing of the initial value is induced by the offeror's promises or representations which give rise to a reasonable understanding that a valuable benefit of some kind over and above the initial value will accrue to the offeree as a result of the operation of the enterprise; and(d) The offeree does not receive the right to exercise practical or actual control over the managerial decisions of the enterprise.Nev. Admin. Code § 90.090
Added to NAC by Sec'y of State, eff. 11-19-92