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Nevada Revised Statutes Title 30. Public Borrowing and Obligations § 348.360. Powers of issuer; priority of liens

Current as of January 01, 2025 | Updated by Findlaw Staff

1. An issuer, prior to or at original issuance, may provide as a part of a system of full registration:

(a) That the transferor or transferee of the public securities pay all or a designated part of the costs of the system;

(b) That costs be paid out of proceeds of the public securities; or

(c) That both methods be used.

2. The portion of the costs of the system not provided to be paid for by the transferor or the transferee or out of proceeds of the public security are otherwise the obligation of the issuer.

3. The issuer may as a part of the system provide for the reimbursement or for satisfaction of its obligation by payment by others.

4. The issuer may:

(a) Enter into binding agreements with others respecting such reimbursement or payment;

(b) Establish fees and charges pursuant to such agreements or otherwise;

(c) Provide that the amount or estimated amount of these fees and charges are an obligation of users, or benefited properties or persons, or other persons in interest;

(d) Provide for the collection of this amount and reasonable collection costs, upon an assessment or tax roll (whether or not the issuer is authorized to levy assessments or taxes), by billing, or by some other method; and

(e) Provide for enforcement by the establishment of a lien for collection on an assessment or tax roll, recordation of a lien, foreclosure and sale, personal action for judgment or other method.

5. Any lien, whether established for collection on an assessment or tax roll or separately by recordation may, if the system so provides, be on a parity with the liens for assessments and taxes, or if the lien for assessments is subordinate to the lien for taxes, on a parity with the lien for assessments, not subject to extinguishment by foreclosure or sale under the lien for any assessments and, if the lien of taxes is on a parity with the lien of assessments, under the lien for any taxes and prior and superior to all liens of any excise taxes, and all demands, executions, titles, liens and encumbrances, whenever created or otherwise fixed.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 30. Public Borrowing and Obligations § 348.360. Powers of issuer; priority of liens - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-30-public-borrowing-and-obligations/nv-rev-st-348-360/

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