1. Except as provided in subsection 2, the supervisor of a gaming establishment shall offer the gaming establishment for sale:
(a) At any time before the time described in paragraph (b), (c) or (d), when requested in writing by the owners of a majority of the equity interest in the establishment to initiate sale proceedings;
(b) Six months after refusal by the Commission to renew the license for the establishment for failure of a licensee to fulfill a condition of his or her license;
(c) If no petition for judicial review is taken from the determination of the Commission to revoke or suspend the license, 6 months after the last date on which a petition for judicial review could have been filed; or
(d) If a petition for judicial review is taken, 6 months after exhaustion of any right of appeal in the courts of this state resulting in a final determination which upholds the revocation or suspension of the license,
whichever date is later.
2. The supervisor shall not offer the gaming establishment for sale if a timely sale of the establishment has been consummated pursuant to NRS 463B.220.
3. The supervisor shall exert his or her best efforts to secure a buyer for the gaming establishment, including advertising, to assure a fair price. The supervisor may employ brokers and other persons to assist the supervisor in securing a suitable buyer.
4. A supervisor shall not accept any offer to purchase the gaming establishment made by a person who does not possess a license issued pursuant to chapter 463 of NRS which would permit the person to operate the establishment, except that the supervisor may accept an offer which is contingent upon the buyer’s procuring such a license.
5. The supervisor shall petition the district court which appointed the supervisor for approval of the terms and conditions of the sale. If the court approves the sale, the supervisor shall, if the buyer obtains a license to operate the establishment, consummate the sale.
(Added to NRS by 1979, 807)
Structure Nevada Revised Statutes
Chapter 463B - Supervision of Certain Gaming Establishments
NRS 463B.020 - "Commission" defined.
NRS 463B.040 - "Supervisor" defined.
NRS 463B.060 - Applicability of chapter.
NRS 463B.075 - Hearing upon suspension of license regarding appointment of supervisor; notice.
NRS 463B.080 - Appointment of supervisor.
NRS 463B.090 - Limitations on order of court to stay appointment or enjoin supervisor.
NRS 463B.100 - Compensation of supervisor and other persons.
NRS 463B.120 - Powers and duties of supervisor under gaming license issued by municipality.
NRS 463B.130 - Vesting of property interests in supervisor; duty to protect property.
NRS 463B.140 - Disposition of certain securities does not affect supervisor.
NRS 463B.150 - Duties of supervisor.
NRS 463B.160 - Powers of supervisor.
NRS 463B.170 - Retention of books, records, evidences of debt and accounts in State.
NRS 463B.180 - Order compelling delivery of property to supervisor.
NRS 463B.190 - Effect of appointment of supervisor upon obligations of establishment.
NRS 463B.200 - Distribution to former legal owner; exceptions.
NRS 463B.210 - Reports by supervisor: Filing; inspection.
NRS 463B.220 - Sale of gaming establishment by former owner: Conditions; approval of court.
NRS 463B.230 - Sale of gaming establishment by supervisor: Time; conditions; approval of court.
NRS 463B.260 - Certain circumstances requiring termination of appointment of supervisor.
NRS 463B.270 - Limitation on personal liability of supervisor.