Nevada § 104.5118 - Security interest of issuer or nominated person
Full text of Nevada Nevada Revised Statutes § 104.5118 — Security interest of issuer or nominated person, with citation guidance and answers to common questions.
§ 104.5118. Security interest of issuer or nominated person
1. An issuer or a nominated person has a security interest in a document presented
under a letter of credit and any identifiable proceeds of the collateral to the extent
that the issuer or nominated person honors or gives value for the presentation. 2. As long as and to the extent that an issuer or a nominated person has not been
reimbursed or has not otherwise recovered the value given with respect to a security
interest in a document under subsection 1, the security interest continues and is
subject to article 9, but: (a) A security agreement is not necessary to make the security interest enforceable
under paragraph (c) of subsection 2 of NRS 104.9203 ; (b) If the document is presented in a medium other than a written or other tangible
medium, the security interest is perfected; and (c) If the document is presented in a written or other tangible medium and is not
a certificated security, chattel paper, a document of title, an instrument, or a letter
of credit, so long as the debtor does not have possession of the document, the security
interest is perfected and has priority over a conflicting security interest in the
document.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 104.5118
What does Nevada Revised Statutes § 104.5118 cover?
Section 104.5118 ("Security interest of issuer or nominated person") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 104.5118?
A common citation format is "Nevada Revised Statutes § 104.5118" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 104.5118 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.