Nevada § 691A.030 Loans secured by real property: Lender prohibited from requiring borrower to insure improvements to property for more than their replacement value

Nevada Statutes

§ 691A.030 — Loans secured by real property: Lender prohibited from requiring borrower to insure improvements to property for more than their replacement value

Nevada § 691A.030

Title 57INSURANCE

Ch. 691AProperty

This text of Nevada § 691A.030 (Loans secured by real property: Lender prohibited from requiring borrower to insure improvements to property for more than their replacement value) 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. § 691A.030 (2026).

Text

1. A lender shall not require a borrower, as a condition of obtaining or maintaining a loan secured by real property, to provide property insurance on improvements to real property in an amount that exceeds the reasonable replacement value of the improvements. 2. As used in this section:

(a)“Borrower” means a mortgagor, grantor of a deed of trust or other debtor.

(b)“Improvement to real property” means a fixture, building or other structure attached to real property and intended as a permanent addition to the property.

(c)“Lender” means a mortgagee, beneficiary of a deed of trust or other creditor who holds a mortgage, deed of trust or other instrument that encumbers real property as security for the repayment of a debt.

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1. A lender shall not require a borrower, as a condition of obtaining or maintaining a loan secured by real property, to provide property insurance on improvements to real property in an amount that exceeds the reasonable replacement value of the improvements.
2. As used in this section:
(a) “Borrower” means a mortgagor, grantor of a deed of trust or other debtor.
(b) “Improvement to real property” means a fixture, building or other structure attached to real property and intended as a permanent addition to the property.
(c) “Lender” means a mortgagee, beneficiary of a deed of trust or other creditor who holds a mortgage, deed of trust or other instrument that encumbers real property as security for the repayment of a debt.

Legislative History

(Added to NRS by 2001, 1465 )

Nearby Sections

4

§ 691A.010

Applicability of other provisions

§ 691A.020

Insurer of certain manufactured homes or mobile homes required to offer coverage which pays replacement value in event of total loss of manufactured home or mobile home; exception

§ 691A.030

Loans secured by real property: Lender prohibited from requiring borrower to insure improvements to property for more than their replacement value

§ 691A.040

Regulations

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Bluebook (online)

Nevada § 691A.030, Counsel Stack Legal Research, https://law.counselstack.com/statute/nv/691A.030.