NRS 106.400
Advances made after notice of termination.

Future advances of principal made to a borrower after the receipt of the notice of termination by the lender are not secured by the instrument. The principal amount of indebtedness secured by the instrument is limited to the amount stated by the lender in the lender’s recorded statement.

TERMINATION OF EQUITY LINES OF CREDIT

Source: Section 106.400 — Advances made after notice of termination., https://www.leg.state.nv.us/NRS/NRS-106.html#NRS106Sec400.

106.300
Definitions. 106.310
“Borrower” defined. 106.320
“Future advance” defined. 106.330
“Instrument” defined. 106.340
“Lender” defined. 106.345
“Principal” defined. 106.350
Applicability. 106.360
Execution, enforceability, contents and amendment of instrument. 106.370
Priority of lien. 106.380
Notice of election to terminate operation of instrument 106.390
Effect of notice of termination. 106.400
Advances made after notice of termination.

Last Updated

Jun. 24, 2021

§ 106.400’s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_106.400

Original Source: Section 106.400 — Advances made after notice of termination., https://www.leg.state.nv.us/NRS/NRS-106.html#NRS106Sec400 (last accessed Jun. 24, 2021).

NRS 106.400 Advances made after notice of termination.

NRS 106.400
Advances made after notice of termination.