Nevada Revised Statutes 686A.330 – Definitions
Current as of: 2023 | Check for updates
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As used in NRS 686A.330 to 686A.520, inclusive, unless the context otherwise requires:
Terms Used In Nevada Revised Statutes 686A.330
- Contract: A legal written agreement that becomes binding when signed.
- Lien: A claim against real or personal property in satisfaction of a debt.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
1. ’Agreement’ means a contract between a person and an insured or prospective insured under which the person agrees to pay a premium in advance on behalf of the insured or prospective insured in exchange for repayment of the amount advanced with interest or for some other consideration.
2. ’Company’ means a person engaged in the business of entering into agreements or purchasing agreements. The term does not include a person who finances a premium in connection with the sale of a motor vehicle upon which the person holds a lien.