Nevada § 104.9208 - Additional duties of secured party having control of collateral
Full text of Nevada Nevada Revised Statutes § 104.9208 — Additional duties of secured party having control of collateral, with citation guidance and answers to common questions.
§ 104.9208. Additional duties of secured party having control of collateral
If there is no outstanding secured obligation and the secured party is not committed
to make advances, incur obligations or otherwise give value, within 10 days after
receiving a signed demand by the debtor: 1. A secured party having control of a deposit account under paragraph (b) of subsection
1 of NRS 104.9104 shall send to the bank with which the deposit account is maintained a signed record
that releases the bank from any further obligation to comply with instructions originated
by the secured party; 2. A secured party having control of a deposit account under paragraph (c) of subsection
1 of NRS 104.9104 shall: (a) Pay the debtor the balance on deposit in the deposit account; or (b) Transfer the balance on deposit into a deposit account in the debtor's name; 3. A purchaser, other than a buyer, having control under NRS 104.9105 of an authoritative electronic copy of a record evidencing chattel paper shall transfer
control of the electronic copy to the debtor or a person designated by the debtor; 4. A secured party having control of investment property under paragraph (b) of subsection
4 of NRS 104.8106 or under subsection 2 of NRS 104.9106 shall send to the securities intermediary or commodity intermediary with which the
security entitlement or commodity contract is maintained a signed record that releases
the securities intermediary or commodity intermediary from any further obligation
to comply with entitlement orders or directions originated by the secured party; 5. A secured party having control of a letter-of-credit right under NRS 104.9107 shall send to each person having an unfulfilled obligation to pay or deliver proceeds
of the letter of credit to the secured party a signed release from any further obligation
to pay or deliver proceeds of the letter of credit to the secured party; 6. A secured party having control under NRS 104.7106 of an authoritative electronic copy of an electronic document shall transfer control
of the electronic copy to the debtor or a person designated by the debtor; and 7. A secured party having control under NRS 104B.12105 of a controllable electronic record, other than a buyer of a controllable account
or controllable payment intangible evidenced by the controllable electronic record,
shall transfer control of the controllable electronic record to the debtor or a person
designated by the debtor.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 104.9208
What does Nevada Revised Statutes § 104.9208 cover?
Section 104.9208 ("Additional duties of secured party having control of collateral") 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 § 104.9208?
A common citation format is "Nevada Revised Statutes § 104.9208" (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 § 104.9208 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.