Nevada § 100.230 Restrictions on construction and interpretation of Asset-Backed Securities Facilitation Act

Nevada Statutes

§ 100.230 — Restrictions on construction and interpretation of Asset-Backed Securities Facilitation Act

Nevada·Title 8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS·Ch. 100 Special· ASSET-BACKED SECURITIES FACILITATION ACT

The provisions of NRS 100.200 to 100.230, inclusive, must not be construed or interpreted to:

1.Require any securitization transaction to be treated as a sale for federal or state tax purposes or to preclude the treatment of any securitization transaction as debt for federal or state tax purposes;

2.Alter or amend any applicable laws relating to the perfection and priority of security ownership interests of persons other than the transferor, hypothetical lien creditor or, in the event of a bankruptcy, receivership or other insolvency proceeding with respect to the transferor or property of the transferor, a bankruptcy trustee, receiver, debtor, debtor in possession or similar person; or

3.Alter or amend the tax treatment of securitization transactions that take place pursuant to NRS 100

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The provisions of NRS 100.200 to 100.230, inclusive, must not be construed or interpreted to:
1. Require any securitization transaction to be treated as a sale for federal or state tax purposes or to preclude the treatment of any securitization transaction as debt for federal or state tax purposes;
2. Alter or amend any applicable laws relating to the perfection and priority of security ownership interests of persons other than the transferor, hypothetical lien creditor or, in the event of a bankruptcy, receivership or other insolvency proceeding with respect to the transferor or property of the transferor, a bankruptcy trustee, receiver, debtor, debtor in possession or similar person; or
3. Alter or amend the tax treatment of securitization transactions that take place pursuant to NRS 100.200 to 100.230 , inclusive.

Nevada § 100.230 (Restrictions on construction and interpretation of Asset-Backed Securities Facilitation Act) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.