2005 Nevada Revised Statutes - Chapter 105 — Security Instruments of Public Utilities

Title 9 - SECURITY INSTRUMENTS OF PUBLIC UTILITIES;MORTGAGES; DEEDS OF TRUST; OTHER LIENS

CHAPTER 105 - SECURITY INSTRUMENTS OFPUBLIC UTILITIES

NRS 105.010 Definitions.

NRS 105.020 Applicabilityof provisions; changing method of perfection or notice.

NRS 105.030 Presentationof security instrument for filing constitutes perfection and notice;requirements for filing; applicability of Uniform Commercial CodeSecuredTransactions.

NRS 105.040 Effectivedate of perfection or notice.

NRS 105.050 Recordingof security interest in real property owned by public utility; recordingprovides notice of certain subsequent security instruments executed by publicutility.

NRS 105.060 Filingname change, merger or consolidation of public utility; effectiveness ofsecurity instrument filed before name change, merger or consolidation.

NRS 105.070 Dutyof Secretary of State or county recorder to mark security instrument andstatement of name change, merger or consolidation upon filing; retention andfiling of instrument and statements; fees.

NRS 105.080 Certificateof Secretary of State showing existence of security instrument; copy of filedsecurity instrument; fees.

_________

NRS 105.010 Definitions. As used in NRS 105.010to 105.080, inclusive, unless thecontext otherwise requires:

1. Public utility has the meaning ascribed to it in NRS 704.020.

2. Security instrument means a mortgage, deed oftrust, security agreement or other instrument executed to secure the payment ofa bond, note or other obligation of a public utility and includes an amendmentor supplement to such an instrument.

3. The words and terms defined in chapter 104 of NRS have the meanings ascribed tothem in that chapter.

(Added to NRS by 1995, 880)

NRS 105.020 Applicabilityof provisions; changing method of perfection or notice.

1. The provisions of NRS105.010 to 105.080, inclusive, applyto a public utility only if the public utility elects to file a securityinstrument pursuant to NRS 105.030 andthen only as to the method of perfection or notice of that security instrument.

2. Except as otherwise provided in subsection 3 of NRS 105.040, a public utility shall notchange the method of perfection or notice of a security instrument from amethod allowed pursuant to a provision other than NRS 105.010 to 105.080, inclusive, to the method allowedby NRS 105.010 to 105.080, inclusive.

3. Once a security instrument has been filed pursuantto NRS 105.030, the public utility shallnot change the method of perfection or notice for that security instrumentpursuant to a provision other than NRS105.010 to 105.080, inclusive.

(Added to NRS by 1995, 880)

NRS 105.030 Presentationof security instrument for filing constitutes perfection and notice;requirements for filing; applicability of Uniform Commercial CodeSecuredTransactions.

1. Presentation of a security instrument to theSecretary of State or a county recorder for filing and tender of the statutoryfiling fee or acceptance of the security instrument by the Secretary of Stateor county recorder, if the security instrument states conspicuously on itstitle page: This Instrument Grants A Security Interest By A Public Utilityconstitutes:

(a) Perfection of a security interest created by thesecurity instrument in any personal property, including goods which are, or areto become, fixtures, in which a security interest may be perfected by filingpursuant to NRS 104.9101 to 104.9709, inclusive, located in this stateor in the county and owned by the public utility when the security instrumentwas executed or to be acquired by the public utility after execution of thesecurity instrument; and

(b) Notice to all persons of the existence of thesecurity instrument and the interest granted therein, as security, in any realproperty or fixtures thereon, or to be placed thereon, located in this state orin the county and owned by the public utility when the security instrument wasexecuted or to be acquired by the public utility after the execution of thesecurity instrument if the security instrument is proved or acknowledged andcertified as required by law for the recording of conveyances of real property.

2. The filed security instrument must:

(a) Identify the property by type, character ordescription if it is presently owned personal property, including fixtures;

(b) Provide a description of the property if it ispresently owned real property; and

(c) State conspicuously on its title page: ThisInstrument Contains After-Acquired Property Provisions if the property is tobe acquired after the execution of the security instrument.

3. A description of real or personal property in asecurity instrument is sufficient, whether or not it is specific, if itreasonably identifies what is described.

4. The provisions of NRS 104.9101 to 104.9709, inclusive, pertaining to prioritiesand remedies apply to security interests in personal property, includingfixtures, perfected under this section.

(Added to NRS by 1995, 881; A 1999, 387)

NRS 105.040 Effectivedate of perfection or notice.

1. The perfection or notice provided by a securityinstrument filed pursuant to NRS 105.030is effective from the date of presentation for filing until the interestgranted as security is released by the filing of a termination statement or arelease or reconveyance of all or a part of the property signed by the securedparty or trustee. No renewal, refiling or continuation statement is required tocontinue this effectiveness.

2. Perfection or notice provided by a securityinstrument covering real or personal property located in this state which wasfiled with the Secretary of State or recorded in the office of a countyrecorder before October 1, 1995, or which was filed or recorded before March 1,1967, in compliance with the law in effect at the time of its filing orrecordation, remains effective for the period provided by the law in effect atthe time of its filing or recordation.

3. Such an instrument may be filed anew pursuant to NRS 105.030, and if so filed has the effectgiven to security instruments originally filed pursuant to NRS 105.010 to 105.080, inclusive. The priority of such afiling dates from the time that the security interest was first filed with theSecretary of State or recorded in the office of a county recorder and not fromthe date the instrument is filed anew pursuant to NRS 105.030.

(Added to NRS by 1995, 881)

NRS 105.050 Recordingof security interest in real property owned by public utility; recordingprovides notice of certain subsequent security instruments executed by publicutility.

1. If a security instrument filed with the Secretaryof State grants an interest, as security, in any real property owned by thepublic utility, a notice of filing of a security instrument affecting realproperty must be recorded in the office of the county recorder in the countywhere the real property is located, stating:

(a) The name of the public utility which executed thesecurity instrument;

(b) That a security instrument affecting real propertyin the county has been executed by the public utility; and

(c) That the security instrument was filed, and othersecurity instruments may later be on file, in the office of the Secretary ofState.

The noticerequired by this section must be acknowledged or proved and certified in themanner provided in chapter 111 of NRS and in NRS 240.161 to 240.169, inclusive.

2. After such recording, no notice need be recordedregarding other security instruments executed by the public utility. The noticerecorded under subsection 1 is sufficient to provide notice of all subsequentsecurity instruments:

(a) Executed by the public utility;

(b) Filed with the Secretary of State; and

(c) Granting an interest, as security, in any realproperty, and fixtures thereto, located in the county where the notice isrecorded.

3. Notices recorded pursuant to subsection 1 must berecorded and indexed by the county recorder in the same records and indexes asare mortgages on real property.

(Added to NRS by 1995, 882)

NRS 105.060 Filingname change, merger or consolidation of public utility; effectiveness ofsecurity instrument filed before name change, merger or consolidation.

1. If a public utility changes its name or merges orconsolidates with another person after the presentation for filing of asecurity instrument executed by it, a written statement of the change, mergeror consolidation must promptly be presented for filing to the Secretary ofState and each county where a notice has been recorded pursuant to NRS 105.050. The statement must be signedby the secured party and the public utility, identify the appropriate securityinstrument by file number and state the name of the public utility after thechange, merger or consolidation.

2. A security instrument presented for filing beforethe change, merger or consolidation is not effective to provide perfection ornotice of interests granted as security in property acquired by the publicutility more than 4 months after the change, merger or consolidation, unlessthe written statement required by this section is presented for filing beforethe expiration of that time.

(Added to NRS by 1995, 882)

NRS 105.070 Dutyof Secretary of State or county recorder to mark security instrument andstatement of name change, merger or consolidation upon filing; retention andfiling of instrument and statements; fees.

1. The Secretary of State or county recorder shallmark any security instrument and any statement of change, merger or consolidationpresented for filing with the day and hour of filing and the file numberassigned to it. This mark is, in the absence of other evidence, conclusiveproof of the time and fact of presentation for filing.

2. The Secretary of State or county recorder shallretain and file all security instruments and statements of change, merger orconsolidation presented for filing.

3. The uniform fee for filing and indexing a securityinstrument, or a supplement or amendment thereto, and a statement of change,merger or consolidation, and for stamping a copy of those documents furnishedby the secured party or the public utility to show the date and place of filingis:

(a) Fortydollars if the record is communicated in writing and consists of one or two pages;

(b) Sixtydollars if the record is communicated in writing and consists of more than twopages, and $2 for each page over 20 pages;

(c) Twentydollars if the record is communicated by another medium authorized byfiling-office rule; and

(d) Two dollars for each additional debtor, trade nameor reference to another name under which business is done.

(Added to NRS by 1995, 882; A 2003, 843; 2003, 20thSpecial Session, 130)

NRS 105.080 Certificateof Secretary of State showing existence of security instrument; copy of filedsecurity instrument; fees.

1. Upon the request of any person, the Secretary ofState shall issue his certificate showing whether there is on file, on the dateand hour stated therein, any presently effective security instrument naming aparticular public utility and, if there is, giving the date and hour of filingof the instrument and the names and addresses of each secured party. Theuniform fee for such a certificate is:

(a) Fortydollars if the request is communicated in writing; and

(b) Twenty dollars if the request is communicated byanother medium authorized by filing-office rule.

2. Upon request, the Secretary of State or a countyrecorder shall furnish a copy of any filed security instrument upon payment ofthe statutory fee for copies.

(Added to NRS by 1995, 883; A 2003, 843; 2003, 20thSpecial Session, 130)

 

Disclaimer: These codes may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.