There Is a Newer Version of this Statute
  1. 2023 Nevada Rev. Stat.
  2. 2022 Nevada Rev. Stat.
  3. 2021 Nevada Rev. Stat.
  4. 2019 Nevada Rev. Stat. (here)
  5. View All Versions
View Our Newest Version Here

2019 Nevada Revised Statutes
Chapter 482 - Motor Vehicles and Trailers: Licensing, Registration, Sales and Leases
NRS 482.109 - “Security interest” defined.

Universal Citation:
NV Rev Stat § 482.109 (2019)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
Previous Next

“Security interest” means an interest in a vehicle, including a mobile home whether or not permanently attached to the land, reserved or created by agreement, which secures payment or performance of an obligation. “Security interest” includes the interest of a lessor under a lease intended as security. Whether a lease is intended as security is to be determined by the facts of each case, but:

1. The inclusion of an option to purchase does not of itself make the lease one intended for security; and

2. An agreement that upon compliance with the terms of the lease the lessee shall become or has the option to become the owner of the vehicle for no additional consideration does make the lease one intended for security.

(Added to NRS by 1975, 443)

Previous Next
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.