Nevada Revised Statutes 682A.023 – ‘Asset-backed security’ defined
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‘Asset-backed security’ means a security or other instrument, excluding a mutual fund, evidencing an interest in, or the right to receive payments from, or payable from distributions on, an asset, a pool of assets or specifically divisible cash flows which are legally transferred to a trust, or another special purpose bankruptcy-remote business entity, which meets the conditions set forth in NRS 682A.245.
Terms Used In Nevada Revised Statutes 682A.023
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.