78.436 - Applicability: Combination with inadvertent interested stockholder. - Nevada Statutes

78.436  Applicability: Combination with inadvertent interested stockholder.  NRS 78.411 to 78.444, inclusive, do not apply to any combination of a resident domestic corporation with an interested stockholder of the resident domestic corporation who became an interested stockholder inadvertently, if the interested stockholder:

      1.  As soon as practicable, divests himself or herself of a sufficient amount of the voting power of the corporation so that he or she no longer is the beneficial owner, directly or indirectly, of 10 percent or more of the outstanding voting power of the resident domestic corporation; and

      2.  Would not at any time within 3 years preceding the date of announcement with respect to the combination have been an interested stockholder but for the inadvertent acquisition.

      (Added to NRS by 1991, 1207; A 1993, 968)