NRS 349.790
Director subrogated to rights of exporter and participating financial institution upon default by exporter.

If an exporter defaults on the participating financial institution’s loan because of a loss and that institution is excused from repaying the guaranteed funding, the Director is subrogated to the exporter’s rights against the foreign customer for payment and to the participating financial institution’s rights against the exporter to the extent of any payment received by the exporter which reduces his or her loss for which his or her payment to the participating financial institution has previously been excused.

Source: Section 349.790 — Director subrogated to rights of exporter and participating financial institution upon default by exporter., https://www.­leg.­state.­nv.­us/NRS/NRS-349.­html#NRS349Sec790.

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

§ 349.790’s source at nv​.us