Nevada Revised Statutes 616B.303 – Standard for insolvency
Current as of: 2023 | Check for updates
|
Other versions
For the purposes of NRS 616B.306, 616B.309 and 616B.318, an employer is insolvent if the employer’s assets are less than the employer’s liabilities.
Terms Used In Nevada Revised Statutes 616B.303
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.