2011 Nevada Revised Statutes
Chapter 627 - Disbursement of Money by Construction Controls
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 the exhausted category. A construction control does not cross categories of construction if it removes from one category of disbursement funds found to be in excess of the costs of construction to be performed under that category after giving at least 10 days written notice in person or by mail to each person entitled to be paid from that category. Notice by mail is deemed to be given when deposited in the mail, postage prepaid, directed to the most recent address of the recipient known to the construction control.
(Added to NRS by 1965, 1180)
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