NRS 598.840 Definitions.

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NRS 598.840 Definitions. As used in NRS 598.840 to 598.930 , inclusive, unless the context otherwise requires:

1. “Affiliate organization” means an organization for buying goods or services at a discount that:

(a)Is a subsidiary of a parent business entity; or

(b)Operates under a franchise granted by a parent business entity.

2. “Business day” means any calendar day except Sunday, or the following business holidays: New Year’s Day, Martin Luther King, Jr.’s Birthday, Washington’s Birthday, Memorial Day, Independence Day, Labor Day, Nevada Day, Veterans Day, Thanksgiving Day and Christmas Day.

3. “Buyer” means a person who purchases by contract a membership in an organization for buying goods or services at a discount.

4. “Commissioner” means the Commissioner of Consumer Affairs.

5. “Franchise” has the meaning ascribed to it in 16 C.F.R. § 436.2, as amended or substituted in revision by the Federal Trade Commission.

6. “Organization for buying goods or services at a discount” or “organization” means a person who, for a consideration, provides or claims to provide a buyer with the ability to purchase goods or services at a price which is represented to be lower than the price generally charged in the area. The term includes, without limitation, an affiliate organization.

7. “Parent business entity” or “parent” means any business entity that, directly or indirectly, has owned, operated, controlled or granted franchises to, in any combination thereof, at least 15 organizations or affiliate organizations for a consecutive period of 5 years or more.

8. “Registrant” means an organization for buying goods or services at a discount which is required to register and post security with the Consumer Affairs Unit pursuant to the provisions of NRS 598.840 to 598.930 , inclusive.

9. “Subsidiary” means an organization for buying goods or services at a discount that is owned, operated or controlled, either directly or indirectly or in whole or in part, by a parent business entity.