RARE: Mustang Ranch specimen stock certificate. This certificate was created in anticipation of the company going public, which fell through. Incorporated October 21, 1987, hole-punched August 6, 1990. The famous legal brothel, bordello, whorehouse in Nevada. Vignette of the company logo. High quality printing by Security Columbian United States Banknote Company. More info about Mustang Ranch. The Mustang Ranch is a famous legal brothel located in Storey County, Nevada, USA. Its history is colorful and spans several decades: Early History: The Mustang Ranch’s history can be traced back to the 1940s when it was originally established as a bordello called the Triangle River Ranch. Prostitution was illegal in most of Nevada at the time, but the state allowed counties with populations under a certain threshold to legalize and regulate it. The brothel was then renamed the Mustang Ranch. The brothel was briefly closed, and its belongings were auctioned off. It continued to operate as a legal brothel, adhering to Nevada’s strict regulations regarding the sex industry. Legislation Changes: In 2018, brothel owner and Republican Assembly candidate Dennis Hof, who owned several legal brothels in Nevada, including the Mustang Ranch, passed away. His death led to some discussion about the future of legal brothels in the state.