Preferred shares means any class or series of shares of a resident domestic corporation that under the articles of incorporation of the resident domestic corporation: 1. Is entitled to receive payment of dividends before any payment of dividends on some other class or series of shares; or 2. Is entitled in the event of any voluntary liquidation, dissolution or winding up of the corporation to receive payment or distribution of a preferential amount before any payments or distributions are received by some other class or series of shares.
‹ Prev All Nevada sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.