315.99854 - Notes, bonds and other obligations: Provision for or requirement of means of assuring repayment; payment of associated fees and costs. - Nevada Statutes

315.99854  Notes, bonds and other obligations: Provision for or requirement of means of assuring repayment; payment of associated fees and costs.  The State Authority may:

      1.  Provide that any bonds or notes issued by the State Authority be insured or be secured by surety bonds, letters of credit not issued by the State Authority, guaranties or other means of assuring repayment of such bonds or notes.

      2.  Require that any loans, including a mortgage loan, made or purchased by the State Authority be insured or be secured by surety bonds, letters of credit not issued by the State Authority, guaranties or other means of assuring repayment of such loans.

      3.  Pay the fees, charges, premiums and any other costs associated with obtaining and maintaining insurance, or other means of assuring repayment, from any available money of the State Authority, including premiums, fees and charges assessed against sponsors, lending institutions or other participants or beneficiaries of the programs of the State Authority.

      (Added to NRS by 2005, 215)