349.270 - Securities sold publicly to be sold to responsible bidder making best bid; equal bids.
349.270 Securities sold publicly to be sold to responsible bidder making best bid; equal bids.
1. If securities are sold publicly and subject to the right of the Commission to reject any and all bids, the securities must be sold to the responsible bidder making the best bid.
2. If there are two or more equal bids for the securities and such equal bids are the best bids received and not less than the principal amount of the securities and accrued interest, except for any permitted discount, the Commission shall determine which bid must be accepted.
(Added to NRS by 1967, 782; A 1969, 1587; 1997, 3012)