Title 8

NRS 100.050 Order of resort to different funds. Where one has a lien upon several things, and other persons have subordinate liens upon, or interests in, some but not all of the same things, the person having the prior lien, if he or she can do so without risk of loss to himself …

NRS 100.060 Agreements between principals and sureties for joint control of assets. It is lawful for any party of whom a bond, undertaking or other obligation is required, to agree with the party’s surety or sureties for the deposit of any money and assets for which the party and…

NRS 100.065 Deposits authorized in lieu of cash payment or surety bond for protection of State; surety bond must be issued by authorized insurer; exceptions. 1. Except as otherwise provided in subsections 4 and 5, in lieu of any cash payment or surety bond required as protection …

NRS 100.075 Creditor’s rights transferable without consent of debtor. Any creditor may, without the consent of the debtor, transfer all or any part of his or her rights against the debtor to any third party. The assignee is entitled by virtue of an assignment or transfer to sue i…

NRS 100.085 Deposits in names of two or more persons; fact that account held in joint tenancy does not preclude person named on account from committing or being prosecuted for exploitation. 1. When a deposit has been made in the name of the depositor and one or more other persons…

NRS 100.091 Impound account required under loan secured by real property: Contributions; payment of obligations; annual analysis; statements; increase in contributions; disposition of excess money; civil penalty; applicability. 1. For each loan requiring the deposit of money to a…

NRS 100.095 Definitions. As used in NRS 100.095 to 100.180, inclusive: 1. “Closed-end vehicle lease” means a vehicle lease, other than an open-end vehicle lease, commonly referred to as a walk-away lease, in which the lessee is not responsible for the residual value of the leased…

NRS 100.105 Disclosures required before lease consummated. 1. Before a commercial vehicle lease is consummated, the lessor must give the lessee a dated written statement on which the lessor and lessee are identified and the following information with respect to the lease is set o…

NRS 100.115 Liability of lessor for failure to disclose. 1. Except as otherwise provided in this section, any lessor under a commercial vehicle lease who fails to comply with the requirements of NRS 100.105 with respect to any lessee is liable to the lessee for the sum of: (a) An…

NRS 100.125 Reasonableness of estimated residual value of vehicle. 1. Where the commercial vehicle lease contains an amount identified as the lessee’s liability upon expiration of the lease based on the estimated residual value of the vehicle, the estimated residual value must be…

NRS 100.135 Appraisal of vehicle when lease terminates or expires. If the commercial vehicle lease provides that the lessee is liable for an amount based on the residual value of the vehicle at the termination or expiration of the lease, the lessee may obtain, at his or her expen…

NRS 100.137 Enforceability of default by lessee. Default on the part of the lessee in a consumer vehicle lease is only enforceable to the extent that: 1. The lessee fails to make a payment as required by the lease agreement, but in no case less than 30 days after the date require…

NRS 100.139 Requirements of lease agreement for used vehicles; disclosures. 1. A lessor who is a dealer shall use a lease agreement in connection with a consumer vehicle lease for a used vehicle that: (a) Is accepted and acted upon by the lessor and any other person necessary to …

NRS 100.141 Single document required; format requirements. 1. Except as otherwise provided in NRS 598.9715, every consumer vehicle lease must be contained in a single document which must contain the entire agreement of the parties, including any promissory notes or other evidence…

NRS 100.143 Blank space for essential provisions prohibited. The lessor shall not obtain the signature of the lessee to any consumer vehicle lease when it contains blank spaces of items which are essential provisions of the transaction. (Added to NRS by 2021, 1429) Establishment …

NRS 100.145 Obtaining bids to establish residual value of vehicle when value or method of establishing value not agreed upon. 1. Where the lessee’s liability on the date any open-end consumer vehicle lease or commercial vehicle lease terminates or expires is based on the residual…

NRS 100.155 Notice of lessor’s intention to establish residual value of vehicle. 1. The lessor shall give the lessee written notice of his or her intention to establish the residual value of the vehicle under the open-end consumer vehicle lease or commercial vehicle lease at leas…

NRS 100.165 Lessee’s right to submit bid for purchase of vehicle; effect of lessee’s bid. 1. The lessee has the right at any time before the lessor establishes the value of the vehicle to submit a written bid for its purchase. 2. If the lessor accepts the lessee’s bid as the high…

NRS 100.175 Penalty on lessor for failure to comply with NRS 100.145 to 100.165, inclusive. If the lessor under an open-end consumer vehicle lease or a commercial vehicle lease fails to comply with NRS 100.145 to 100.165, inclusive, the lessor may not recover any deficiency from …

NRS 100.180 Violation constitutes deceptive trade practice; civil action by lessee, debtor or secondary obligor under consumer vehicle lease. 1. A violation of NRS 100.095 to 100.180, inclusive, constitutes a deceptive trade practice for the purposes of NRS 598.0903 to 598.0999, …

NRS 100.200 Short title. NRS 100.200 to 100.230, inclusive, may be known and cited as the Asset-Backed Securities Facilitation Act. (Added to NRS by 2005, 2207)

NRS 100.210 Definitions. 1. As used in NRS 100.200 to 100.230, inclusive, unless the context otherwise requires, the terms “securitization” and “securitization transaction” include, without limitation, the pooling and repackaging by a special purpose entity of assets or other cre…

NRS 100.220 Effect of securitization transaction on property, assets and rights of transferor. Notwithstanding any other provision of law, including, without limitation, NRS 104.9623, to the extent set forth in the transaction documents relating to a securitization transaction: 1…

NRS 100.230 Restrictions on construction and interpretation of Asset-Backed Securities Facilitation Act. The provisions of NRS 100.200 to 100.230, inclusive, must not be construed or interpreted to: 1. Require any securitization transaction to be treated as a sale for federal or …