NRS 349.765
Guaranteed funding provided to participating financial institution: Limitation on amount

  • finding of Director of necessity for funding
  • term of and interest on loan to exporter.

1.

The Director may provide guaranteed funding to a participating financial institution that is providing the financing for an eligible transaction, but the amount of this funding is limited to 90 percent of the principal of the loan made to the exporter. The exporter must insure or obtain a guarantee against nonpayment on the loan resulting from a loss. The maximum amount payable under any guarantee must be specifically set forth in a writing signed by the Director.

2.

The Director shall not agree to provide guaranteed funding unless he or she finds that the guaranteed funding is reasonably necessary to stimulate or facilitate:

(a)

The making of a loan for an eligible transaction; or

(b)

The financing of an eligible transaction by a participating financial institution or other private source that is not otherwise able to finance it.

3.

The money provided by the Director to the participating financial institution to guarantee the financing of an eligible transaction must be re-lent to the exporter by the participating financial institution for a term no shorter than and at a rate of interest no higher than that fixed by the Director, excluding any usual and customary fees and charges for lending and the fee provided for in subsection 3 of NRS 349.785.

4.

The Director may condition the allowance of guaranteed funding upon such other terms and conditions as he or she determines to be desirable.

Source: Section 349.765 — Guaranteed funding provided to participating financial institution: Limitation on amount; finding of Director of necessity for funding; term of and interest on loan to exporter., https://www.­leg.­state.­nv.­us/NRS/NRS-349.­html#NRS349Sec765.

349.700
Legislative declaration. 349.710
Definitions. 349.715
“Bonds” defined. 349.720
“Director” defined. 349.725
“Exporter” defined. 349.730
“Guaranteed funding” defined. 349.735
“Loss” defined. 349.740
“Participating financial institution” defined. 349.745
“Program” defined. 349.750
Director: Administration of provisions 349.755
Director: Delegation of duties. 349.760
Transactions eligible for guaranteed funding: Criteria. 349.765
Guaranteed funding provided to participating financial institution: Limitation on amount 349.770
Investigation of credit available to exporter prerequisite for guaranteed funding. 349.775
Confidentiality of information concerning exporter. 349.780
Fees charged to participating financial institution. 349.785
Agreements excusing payment on guaranteed funding and loan to exporter 349.790
Director subrogated to rights of exporter and participating financial institution upon default by exporter. 349.795
Guarantee: Not general obligation of State 349.800
Advisory Committee on Financing Exports: Creation 349.805
Advisory Committee on Financing Exports: Meetings 349.810
Advisory Committee on Financing Exports: Powers and duties. 349.815
Regulations for operation of program. 349.820
Limitation on personal liability of Director or person acting on his or her behalf. 349.825
Issuance of revenue bonds: Director required to submit findings to Advisory Committee on Financing Exports and State Board of Finance 349.830
Bonds: Special obligations of State. 349.835
Bonds: Form and terms 349.840
Bonds: Repurchase. 349.845
Bonds: Refunding. 349.850
Bonds: Legal investments. 349.855
Director: Establishment of funds and accounts 349.857
Director: Loans of securities. 349.860
Insurance.
Last Updated

Feb. 5, 2021

§ 349.765’s source at nv​.us