Nevada Revised Statutes 704.7578 – ‘Interest in a generation asset’ defined
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1. ’Interest in a generation asset’ means any interest, in whole or in part, in the physical plant, facility, equipment or system that makes up the generation asset, whether such interest is legal or equitable, present or future, or contingent or vested.
Terms Used In Nevada Revised Statutes 704.7578
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
2. The term does not include any interest in the electricity or other energy produced by the generation asset.