Nevada § 41.460 When debtor in possession or long-term lessee deemed owner of motor vehicle

Nevada Statutes

§ 41.460 — When debtor in possession or long-term lessee deemed owner of motor vehicle

Nevada·Title 3 REMEDIES; SPECIAL ACTIONS AND PROCEEDINGS·Ch. 41 Actions· LIABILITY OF OWNER OF MOTOR VEHICLE FOR NEGLIGENT OPERATION BY IMMEDIATE MEMBER OF FAMILY

1. For the purpose of imposing liability pursuant to NRS 41.440 and for no other purpose, where a vehicle is subject to:

(a)A security interest, the debtor in possession shall be deemed to be the owner and the secured party out of possession shall not be deemed to be the owner.

(b)A long-term lease, the long-term lessee shall be deemed to be the owner and the long-term lessor shall not be deemed to be the owner. 2. As used in this section:

(a)“Lease,” “long-term lessee” and “long-term lessor” have the meanings ascribed to them in NRS 482.053 .

(b)“Owner” has only the significance attributed to it by NRS 41.440 .

(c)“Secured party” and “security interest” have the meanings ascribed to them by chapters 104 to 104C , inclusive, of NRS.

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1. For the purpose of imposing liability pursuant to NRS 41.440 and for no other purpose, where a vehicle is subject to:
(a) A security interest, the debtor in possession shall be deemed to be the owner and the secured party out of possession shall not be deemed to be the owner.
(b) A long-term lease, the long-term lessee shall be deemed to be the owner and the long-term lessor shall not be deemed to be the owner.
2. As used in this section:
(a) “Lease,” “long-term lessee” and “long-term lessor” have the meanings ascribed to them in NRS 482.053 .
(b) “Owner” has only the significance attributed to it by NRS 41.440 .
(c) “Secured party” and “security interest” have the meanings ascribed to them by chapters 104 to 104C , inclusive, of NRS.

Nevada § 41.460 (When debtor in possession or long-term lessee deemed owner of motor vehicle) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.