Title 8

NRS 104.9504 Indication of collateral in financing statement. A financing statement sufficiently indicates the collateral that it covers if the financing statement provides: 1. A description of the collateral pursuant to NRS 104.9108; or 2. An indication that the financing statem…

NRS 104.9505 Filing of financing statement in compliance with other statutes and treaties for consignments, leases, other bailments and other transactions. 1. A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file…

NRS 104.9506 Effect of errors or omissions in financing statement. 1. A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously mislead…

NRS 104.9507 Effect of certain events on effectiveness of financing statement. 1. A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed or otherwise disposed of and in which a security interest or agricultural lien cont…

NRS 104.9508 Effectiveness of financing statement if new debtor becomes bound by security agreement. 1. Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new deb…

NRS 104.9509 Persons entitled to file record. 1. A person may file an initial financing statement, amendment that adds collateral covered by a financing statement or amendment that adds a debtor to a financing statement only if: (a) The debtor authorizes the filing in a signed re…

NRS 104.9510 Effectiveness of filed record. 1. Subject to subsection 3, a filed record is effective only to the extent that it was filed by a person that may file it under NRS 104.9509. 2. A record authorized by one secured party of record does not affect the financing statement …

NRS 104.9511 Secured party of record. 1. A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initi…

NRS 104.9512 Amendment of financing statement. 1. Subject to NRS 104.9509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection 5, otherwise amend the information provided in, a financing statement by filing an am…

NRS 104.9513 Termination statement. 1. A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and: (a) There is no obligation secured by the col…

NRS 104.9514 Assignment of certain powers of secured party of record. 1. Except as otherwise provided in subsection 3, an initial financing statement may reflect an assignment of all of the secured party’s power to authorize an amendment to the financing statement by providing th…

NRS 104.9515 Duration and effectiveness of financing statement; effect of lapsed financing statement. 1. Except as otherwise provided in subsections 2, 5, 6 and 7, a filed financing statement is effective for a period of 5 years after the date of filing. 2. Except as otherwise pr…

NRS 104.9516 What constitutes filing; effectiveness of filing. 1. Except as otherwise provided in subsection 2, communication of a record to a filing office and tender of the filing fee or acceptance of the record by the filing office constitutes filing. 2. Filing does not occur …

NRS 104.9517 Effect of indexing errors. The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record. (Added to NRS by 1999, 336)

NRS 104.9518 Claim concerning inaccurate record, wrongfully filed record or record filed by person not entitled to do so: Filing of information statement. 1. A person may file in the filing office an information statement with respect to a record indexed there under his or her na…

NRS 104.9519 Numbering, maintaining and indexing records; communicating information provided in records. 1. For each record filed in a filing office, the filing office shall: (a) Assign a unique number to the filed record; (b) Create a record that bears the number assigned to the…

NRS 104.9520 Acceptance and refusal to accept record. 1. A filing office shall refuse to accept a record for filing for a reason set forth in subsection 2 of NRS 104.9516 and may refuse to accept a record for filing only for a reason set forth in that subsection. 2. If a filing o…

NRS 104.9521 Acceptance of certain written records including initial financing statements by filing office; format of written records. 1. A filing office that accepts written records may not refuse to accept a written initial financing statement submitted on a form prescribed and…

NRS 104.9522 Maintenance and destruction of records. 1. The filing office shall maintain a record of the information provided in a filed financing statement for at least 1 year after the effectiveness of the financing statement has lapsed under NRS 104.9515 with respect to all se…

NRS 104.9523 Information from filing office; sale or license of records. 1. If a person that files a written record requests an acknowledgment of the filing, the filing office shall send the person an image of the record showing the number assigned to the record pursuant to parag…

NRS 104.9524 Excused delay by filing office. Delay by the filing office beyond a time limit prescribed by this part is excused if: 1. The delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment or other circumstance…

NRS 104.9525 Fees. 1. Except as otherwise provided in subsection 5, the fee for filing and indexing a record under this part, other than an initial financing statement of the kind described in subsection 2 of NRS 104.9502, is: (a) Sixty dollars if the record is communicated in wr…

NRS 104.9526 Filing-office rules. 1. The Secretary of State shall adopt and publish rules to effectuate this article. The filing-office rules must be: (a) Consistent with this article; and (b) Adopted in accordance with the provisions of chapter 233B of NRS. 2. To keep the filing…

NRS 104.9527 Duty of Secretary of State to report. The Secretary of State shall report biennially on or before the first Monday of February in each odd-numbered year to the Governor and Legislature on the operation of the filing office. The report must contain a statement of the …

NRS 104.9601 Rights after default; judicial enforcement; effect on consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes. 1. After default, a secured party has the rights provided in this part and, except as otherwise provided in NRS 104.9602, tho…

NRS 104.9602 Waiver and variance of rights and duties of debtor and obligor. Except as otherwise provided in NRS 104.9624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated…

NRS 104.9603 Agreement on standards concerning rights and duties of parties. 1. The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in NRS 104.9602 if the standar…

NRS 104.9604 Procedure if security agreement covers real property or fixtures. 1. If a security agreement covers both personal and real property, a secured party may proceed: (a) Under this part as to the personal property without prejudicing any rights with respect to the real p…

NRS 104.9605 Duty to unknown debtor or secondary obligor. 1. Except as provided in subsection 2, a secured party does not owe a duty based on its status as secured party: (a) To a person that is a debtor or obligor, unless the secured party knows: (1) That he or she is a debtor o…

NRS 104.9606 Time of default for agricultural lien. For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created. (Added to NRS by 1…

NRS 104.9607 Collection and enforcement by secured party. 1. If so agreed, and in any event after default, a secured party: (a) May notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secure…

NRS 104.9608 Application of proceeds of collection or enforcement; liability for deficiency and right to surplus. 1. If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (a) A secured party shall apply or pay over…

NRS 104.9609 Secured party’s right to take possession or dispose of collateral after default. 1. After default, a secured party: (a) May take possession of the collateral; (b) If a debtor so agrees, may require the debtor to assemble the collateral and make it available to the se…

NRS 104.9610 Disposition of collateral after default. 1. After default, a secured party may sell, lease, license or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing. 2. Every aspect of a …

NRS 104.9611 Notification before disposition of collateral. 1. In this section, “notification date” means the earlier of the date on which: (a) A secured party sends to the debtor and any secondary obligor a signed notification of disposition; or (b) The debtor and any secondary …

NRS 104.9612 Timeliness of notification before disposition of collateral. 1. Except as otherwise provided in subsection 2, whether a notification is sent within a reasonable time is a question of fact. 2. In a transaction other than a consumer transaction, a notification of dispo…

NRS 104.9613 Contents and form of notification before disposition of collateral: General. 1. Except in a consumer-goods transaction, the following rules apply: (a) The contents of a notification of disposition are sufficient if the notification: (1) Describes the debtor and the s…

NRS 104.9614 Contents and form of notification before disposition of collateral: Consumer-goods transaction. 1. In a consumer-goods transaction, the following rules apply: (a) A notification of disposition must provide the following information: (1) The information specified in p…

NRS 104.9615 Application of proceeds of disposition; liability for deficiency and right to surplus. 1. A secured party shall apply or pay over for application the cash proceeds of disposition under NRS 104.9610 in the following order to: (a) The reasonable expenses of retaking, h…

NRS 104.9616 Explanation of calculation of surplus or deficiency. 1. In this section: (a) “Explanation” means a record that: (1) States the amount of the surplus or deficiency; (2) Provides an explanation in accordance with subsection 3 of how the secured party calculated the sur…

NRS 104.9617 Effect of disposition of collateral by secured party after default; rights of transferee regarding collateral. 1. A secured party’s disposition of collateral after default: (a) Transfers to a transferee for value all of the debtor’s rights in the collateral; (b) Disc…

NRS 104.9618 Rights and duties of certain secondary obligors. 1. A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (a) Receives an assignment of a secured obligation from the secured party; (b) Re…

NRS 104.9619 Transfer of record or legal title. 1. In this section, “transfer statement” means a record signed by a secured party stating: (a) That the debtor has defaulted in connection with an obligation secured by specified collateral; (b) That the secured party has exercised …

NRS 104.9620 Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral. 1. Except as otherwise provided in subsection 7, a secured party may accept collateral in full or partial satisfaction of the obligation it secures only if: …

NRS 104.9621 Notification of proposal to accept collateral in satisfaction of obligation. 1. A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: (a) Any person from which the secured party has …

NRS 104.9622 Effect of acceptance of collateral in satisfaction of obligation. 1. A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures: (a) Discharges the obligation to the extent consented to by the debtor; (b) Transfers to the …