Nevada Revised Statutes 86.542 – Creditors’ proofs of claims; when participation barred; notice
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All creditors shall present and make proof to the receiver of their respective claims against the limited-liability company within 6 months from the date of appointment of the receiver or trustee for the company, or sooner if the court shall order and direct, and all creditors and claimants failing to do so within the time limited by this section, or the time prescribed by the order of the court, shall by the direction of the court be barred from participating in the distribution of the assets of the company. The court shall also prescribe what notice, by publication or otherwise, shall be given to creditors of such limitation of time.
Terms Used In Nevada Revised Statutes 86.542
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Trustee: A person or institution holding and administering property in trust.