Nevada § 349.790 Director subrogated to rights of exporter and participating financial institution upon default by exporter

Nevada Statutes

§ 349.790 — Director subrogated to rights of exporter and participating financial institution upon default by exporter

Nevada § 349.790

Title 30PUBLIC BORROWING AND OBLIGATIONS

Ch. 349State

REVENUE BONDS FOR FINANCING EXPORTATION OF GOODS

This text of Nevada § 349.790 (Director subrogated to rights of exporter and participating financial institution upon default by exporter) 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. § 349.790 (2026).

Text

If an exporter defaults on the participating financial institution’s loan because of a loss and that institution is excused from repaying the guaranteed funding, the Director is subrogated to the exporter’s rights against the foreign customer for payment and to the participating financial institution’s rights against the exporter to the extent of any payment received by the exporter which reduces his or her loss for which his or her payment to the participating financial institution has previously been excused.

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If an exporter defaults on the participating financial institution’s loan because of a loss and that institution is excused from repaying the guaranteed funding, the Director is subrogated to the exporter’s rights against the foreign customer for payment and to the participating financial institution’s rights against the exporter to the extent of any payment received by the exporter which reduces his or her loss for which his or her payment to the participating financial institution has previously been excused.