Nevada Revised Statutes Title 9. Security Instruments of Public Utilities; Mortgages; Deeds of Trust; Other Liens § 108.890. Extent of lien
Current as of January 01, 2021 | Updated by FindLaw Staff
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
1. The lien provided for in NRS 108.887 applies to any farm product and any processed farm product in the possession of the processor.
2. For the purposes of this section, a farm product or a processed farm product deposited by a processor with a warehouse, whether or not warehouse receipts are given as security to a lender, shall be deemed to be in the possession of the processor and subject to the lien of the producer.
3. As used in this section:
(a) “Lender” includes any person who advances new value to a processor.
(b) “New value” includes a new advance or loan, whether in money or property, that is made by a lender to a processor. The term does not include an:
(1) Extension or renewal of an existing obligation of the processor; or
(2) Obligation that is substituted for an existing obligation of the processor.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 9. Security Instruments of Public Utilities; Mortgages; Deeds of Trust; Other Liens § 108.890. Extent of lien - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-9-security-instruments-of-public-utilities-mortgages-deeds-of-trust-other-liens/nv-rev-st-108-890.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?