NRS 349.785
Agreements excusing payment on guaranteed funding and loan to exporter

  • fee charged to exporter.

1.

The Director shall agree that the participating financial institution is excused from the payment to the Director of the principal of or interest on the guaranteed funding to the extent of the exporter’s nonpayment resulting from a loss.

2.

The institution shall, as a condition of its loan to the exporter, agree that if the exporter incurs a loss, the exporter is excused from payment of the principal of or interest on the loan to the extent of the loss suffered by the exporter or of the amount which that institution is excused from paying to the Director, whichever is less.

3.

The institution may charge the exporter a fee for the protection provided in subsection 2, but this fee must not exceed the fee charged by the Director for providing guaranteed funding to that institution.

Source: Section 349.785 — Agreements excusing payment on guaranteed funding and loan to exporter; fee charged to exporter., https://www.­leg.­state.­nv.­us/NRS/NRS-349.­html#NRS349Sec785.

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

Jun. 24, 2021

§ 349.785’s source at nv​.us