Nevada § 279.668 Rights of agency’s obligee upon default

Nevada Statutes

§ 279.668 — Rights of agency’s obligee upon default

Nevada § 279.668

Title 22COOPERATIVE AGREEMENTS BY PUBLIC AGENCIES; REGIONAL

Ch. 279Redevelopment

FINANCIAL PROVISIONS

This text of Nevada § 279.668 (Rights of agency’s obligee upon default) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 279.668 (2026).

Text

By its resolution, trust indenture, mortgage, lease or other contract, an agency may confer upon any obligee holding or representing a specified amount in bonds, the following rights upon the happening of an event or default prescribed in such resolution or instrument, to be exercised by suit, action or proceeding in any court of competent jurisdiction:

1.To cause possession of all or part of any redevelopment project to be surrendered to any such obligee.

2.To obtain the appointment of a receiver of all or part of any redevelopment project of the agency and of the rents and profits from it. If a receiver is appointed, he or she may enter and take possession of the redevelopment project or any part of it, operate and maintain it, collect and receive all fees, rents, revenues or other cha

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By its resolution, trust indenture, mortgage, lease or other contract, an agency may confer upon any obligee holding or representing a specified amount in bonds, the following rights upon the happening of an event or default prescribed in such resolution or instrument, to be exercised by suit, action or proceeding in any court of competent jurisdiction:
1. To cause possession of all or part of any redevelopment project to be surrendered to any such obligee.
2. To obtain the appointment of a receiver of all or part of any redevelopment project of the agency and of the rents and profits from it. If a receiver is appointed, he or she may enter and take possession of the redevelopment project or any part of it, operate and maintain it, collect and receive all fees, rents, revenues or other charges thereafter arising from it, and shall keep such money in separate accounts and apply it pursuant to the obligations of the agency as the court shall direct.
3. To require the agency and its members and employees to account as if it and they were the trustees of an express trust.