Nevada Revised Statutes 672.740 – Security for loans
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1. In addition to generally accepted types of security, the endorsement of a note by a guarantor or assignment of shares or wages, in a manner consistent with the laws of this state, shall be deemed security within the meaning of this chapter.
Terms Used In Nevada Revised Statutes 672.740
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
2. The credit committee or loan officer, subject to the provisions of this chapter and the bylaws, is responsible for determining the adequacy of security for any loans.