319.325 - Division may provide that bonds, notes or loans be insured or secured; payment of costs associated with insurance. - Nevada Statutes

319.325  Division may provide that bonds, notes or loans be insured or secured; payment of costs associated with insurance.  The Division may:

      1.  Provide that any bonds or notes issued by the Division be insured or be secured by surety bonds, letters of credit not issued by the Division, 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 Division be insured or be secured by surety bonds, letters of credit not issued by the Division, 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 Division including premiums, fees and charges assessed against sponsors, lending institutions or other participants or beneficiaries of the programs of the Division.

      (Added to NRS by 1987, 1351; A 1991, 215)