Nevada § 319.210 Investment in mortgages

Nevada Statutes

§ 319.210 — Investment in mortgages

Nevada § 319.210

Title 25PUBLIC ORGANIZATIONS FOR COMMUNITY SERVICE

Ch. 319Assistance

GENERAL PROVISIONS

This text of Nevada § 319.210 (Investment in mortgages) 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. § 319.210 (2026).

Text

1. The Division may:

(a)Invest in, purchase or make commitments to purchase, and take assignments from lending institutions of mortgage loans and promissory notes accompanying such mortgage loans, including mortgage loans or participations with lending institutions in such promissory notes and mortgage loans, for the construction, rehabilitation, purchase, leasing or refinancing of residential housing within this state.

(b)Sell, at public or private sale, with or without public bidding, any mortgage or other obligation held by the Division. 2. At or before the time of purchase, the lending institution shall certify to the Division with respect to all mortgage loans transferred to the Division:

(a)That the mortgage loans transferred to the Division are for residential housing for eligibl

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1. The Division may:
(a) Invest in, purchase or make commitments to purchase, and take assignments from lending institutions of mortgage loans and promissory notes accompanying such mortgage loans, including mortgage loans or participations with lending institutions in such promissory notes and mortgage loans, for the construction, rehabilitation, purchase, leasing or refinancing of residential housing within this state.
(b) Sell, at public or private sale, with or without public bidding, any mortgage or other obligation held by the Division.
2. At or before the time of purchase, the lending institution shall certify to the Division with respect to all mortgage loans transferred to the Division:
(a) That the mortgage loans transferred to the Division are for residential housing for eligible families within this state; or
(b) That the proceeds of sale or its equivalent will be reinvested in mortgage loans for residential housing for eligible families within this state in an aggregate principal amount equal to the amount of such sale proceeds.