Title 54

NRS 627.050 “Construction control” defined. A “construction control” is any person that engages in the control or disbursement of any funds payable or paid to laborers, materialmen, material suppliers, contractors, subcontractors, architects, engineers or others, for the purpose …

NRS 627.060 “Construction loan deed of trust” defined. “Construction loan deed of trust” means any deed of trust recorded or to be recorded as security for a loan for the construction, repair, alteration or improvement of any premises, and includes a construction loan mortgage. (…

NRS 627.070 “Crossing categories of disbursement” defined. “Crossing categories of disbursement” means the exhausting by disbursement of funds held within a category of disbursement and thereafter the disbursement of funds out of another category to pay for bills applicable to th…

NRS 627.080 “General contract of construction” defined. “General contract of construction” means a written contract signed by the owner of premises and by a contractor who contracts with other contractors, subcontractors or material suppliers to perform work or labor, or supply m…

NRS 627.090 “Improvement” defined. “Improvement” means any existing or proposed structure, building, edifice or addition to real property added to or placed on or under the surface of real property. (Added to NRS by 1965, 1180)

NRS 627.100 “Lender” defined. “Lender” means any bank, savings and loan association or savings bank authorized to do business under the laws of the State of Nevada or laws of the United States of America making a loan or providing moneys for construction, repair, alteration or im…

NRS 627.110 “Owner-contractor contract” defined. “Owner-contractor contract” means any written contract entered into between an owner of premises who is a contractor having the work done and another person for the performance of work or labor, or the supplying of materials, or bo…

NRS 627.130 “Premises” defined. “Premises” means real property or any interests therein. (Added to NRS by 1965, 1180)

NRS 627.140 “Related construction control” defined. “Related construction control” means a construction control owned, in whole or in part, by the lender, by one or more of the stockholders of the lender, by one or more of the associates or partners of the lender, or designated b…

NRS 627.150 “Restored category of disbursement” defined. “Restored category of disbursement” means a category of disbursement that has been exhausted below a level sufficient to pay bills to which have been added other funds sufficient to cover such bills. (Added to NRS by 1965, …

NRS 627.160 “Subcontract” defined. A “subcontract” is a written contract signed by a contractor who is not the owner of premises and another person for the performance of work or labor or the supplying of materials to bring about the construction, repair, alteration or improvemen…

NRS 627.170 “Total cost of construction” defined. “Total cost of construction” means the total sum payable to a general contractor to complete the construction, repair, alteration or improvement of the premises, or the aggregate total sum payable to others under owner-contractor …

NRS 627.175 Applicability of chapter. 1. Except as otherwise provided in subsection 2, the following shall not be a construction control or subject to the provisions of this chapter: (a) A contractor licensed under the laws of the State of Nevada, paying a subcontractor, supplier…

NRS 627.180 Duty of construction control to deposit surety bond with State Contractors’ Board; form and amount of bond; exceptions. 1. The provisions of this section do not apply to: (a) Savings and loan associations, savings banks, state banks and national banking associations l…

NRS 627.183 Construction control may deposit substitute form of security in lieu of surety bond; amount deposited must equal amount of bond; interest or dividends accrue to depositor. 1. As a substitute for the surety bond required by NRS 627.180, a construction control may, in a…

NRS 627.190 Duties of construction control. Every construction control shall: 1. Obtain a true copy, certified as true by a registered architect or licensed professional engineer and signed by the person or persons who executed the general contract of construction or the owner-co…

NRS 627.200 Designation and appointment of construction control as agent; liability for violation of chapter; action by claimant of mechanic’s lien. Any lender desiring to use the services of a construction control shall first obtain the written assent of the borrower specifying …