Nevada Revised Statutes 332.095 – Assignment of contracts
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1. Except as otherwise provided in subsection 2:
Terms Used In Nevada Revised Statutes 332.095
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Authorized representative: means a person designated by the governing body to be responsible for the development, award and proper administration of all purchases and contracts for a local government or a department, division, agency, board or unit of a local government made pursuant to this chapter. See Nevada Revised Statutes 332.025
- Contract: A legal written agreement that becomes binding when signed.
- Governing body: means the board, council, commission or other body in which the general legislative and fiscal powers of the local government are vested. See Nevada Revised Statutes 332.025
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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
(a) No contract awarded may be assigned to any other person without the consent of the governing body or its authorized representative.
(b) No contract awarded or any portion thereof may be assigned to any person who was declared by the governing body or its authorized representative not to be a responsible person to perform the particular contract.
2. The provisions of this section do not apply to the assignment of a contract by virtue of the acquisition of the person who is a party to the contract by a person that purchases the full assets and liabilities of the person who is a party to the contract.