Nevada Cracks Down On “Nominee” Directors And Officers

more+
less-

Over the years, some have promoted the use of so-called “nominee” directors and officers as a means to hide the ownership and control of a corporation.  As I mentioned yesterday, the U.S. government has become increasingly focused on the use of corporations as a means of money laundering or even terrorism.  This year Nevada enacted legislation that will purportedly crack down on the use of straw persons.  Among a great deal of other things, SB 60, amends NRS 78.150 to require that the annual list filed by corporations include a declaration under penalty of perjury that “None of the officers or directors identified in the list has been identified in the list with the fraudulent intent of concealing the identity of any person or persons exercising the power or authority of an officer or director in furtherance of any unlawful conduct.”  Similar amendments have been made to the statute, NRS 80.110, governing annual filings by foreign corporations.

 

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Allen Matkins Leck Gamble Mallory & Natsis LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×
×