612.650 - Priorities under legal dissolutions or distributions. - Nevada Statutes

612.650  Priorities under legal dissolutions or distributions.

      1.  In the event of any distribution of any employer’s assets either voluntarily or pursuant to any order of any court under the laws of this State, the lien for contributions then due must be paid in full, before all other liens or claims except prior taxes and liens which have been recorded before the time the contributions became due and claims for remuneration for services of not more than $600 to each claimant, earned within 3 months of the commencement of the proceeding.

      2.  In the event of an employer’s adjudication in bankruptcy, judicially confirmed extension proposal, composition or other proceeding in bankruptcy, contributions then or thereafter due are entitled to the same priority as is afforded for taxes due to states.

      [Part 14:129:1937; A 1939, 115; 1941, 412; 1945, 299; 1949, 257; 1951, 351; 1955, 698]—(NRS A 1959, 608; 1985, 307)