NRS 42.320 – “Transfer expense” defined.
“Transfer expense” means all expenses of a transfer that are required under the transfer agreement to be paid by the payee or deducted from the gross advance amount, including, without limitation, court filing fees, attorney’s fees, escrow fees, lien recordation fees, judgment and lien search fees, finders’ fees, commissions and other payments to a broker […]
NRS 42.400 – General provisions; construction.
1. The provisions of NRS 42.200 to 42.400, inclusive, may not be waived by a payee. 2. Any transfer agreement entered into by a payee who is domiciled in this State must provide that disputes under the transfer agreement, including, without limitation, any claims that the payee has breached the agreement, must be determined in […]
NRS 42.325 – “Transfer order” defined.
“Transfer order” means an order approving a transfer in accordance with NRS 42.385. (Added to NRS 2021, 1722)
NRS 42.330 – “Transferee” defined.
“Transferee” means a party acquiring or proposing to acquire structured settlement payment rights through a transfer. (Added to NRS by 2021, 1722)
NRS 42.335 – “Unit” defined.
“Unit” means the Consumer Affairs Unit of the Department of Business and Industry. (Added to NRS by 2021, 1720)
NRS 42.340 – Requirement to register as structured settlement purchase company; application; certification of surety bond, letter of credit or cash bond that meets certain requirements.
1. A person shall not act as a transferee, attempt to acquire structured settlement payment rights through a transfer from a payee who resides in this State or file a structured settlement transfer proceeding in this State unless the person is registered with the Unit to do business in this State as a structured settlement […]
NRS 42.345 – Statement concerning obligation for child support required for issuance or renewal of registration as structured settlement purchase company. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]
1. In addition to any other requirements set forth in NRS 42.200 to 42.400, inclusive, a natural person who applies for the issuance or renewal of a registration as a structured settlement purchase company shall: (a) Include the social security number of the applicant in the application submitted to the Unit. (b) Submit to the […]
NRS 42.350 – Suspension of registration as structured settlement purchase company; reinstatement of registration. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]
1. If the Unit receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a person who is registered as a structured settlement purchase company, the Unit shall deem the registration issued to that person to […]
NRS 42.275 – “Structured settlement” defined.
“Structured settlement” means an arrangement for periodic payment of damages for personal injuries or sickness established by settlement or judgment in resolution of a tort claim. (Added to NRS by 2021, 1721)
NRS 42.280 – “Structured settlement agreement” defined.
“Structured settlement agreement” means the agreement, judgment, stipulation or release embodying the terms of a structured settlement. (Added to NRS by 2021, 1721)