667.195 - Validation of sales by liquidator under security instruments giving power of sale. - Nevada Statutes

667.195  Validation of sales by liquidator under security instruments giving power of sale.  If the Commissioner, the Federal Deposit Insurance Corporation or any liquidating agent appointed pursuant to the provisions of NRS 667.035 to 667.085, inclusive, exercises the power of sale set up in any mortgage, deed of trust or other written instrument for the security of the payment of money in which any bank then in liquidation was named trustee, the exercise of the power of sale and the acts of resigning the trust, of the Commissioner, the Federal Deposit Insurance Corporation or the appointed liquidating agent have the same effect as if done by the bank named as trustee in the mortgage, deed of trust or other instrument.

      (Added to NRS by 1971, 1005; A 1983, 1756; 1987; 1941)