Nevada § 104A.2218 - Insurance and proceeds
Full text of Nevada Nevada Revised Statutes § 104A.2218 — Insurance and proceeds, with citation guidance and answers to common questions.
§ 104A.2218. Insurance and proceeds
1. A lessee obtains an insurable interest when existing goods are identified to the
lease contract even though the goods identified are nonconforming and the lessee has
an option to reject them. 2. If a lessee has an insurable interest only by reason of the lessor's identification
of the goods, the lessor, until default or insolvency or notification to the lessee
that identification is final, may substitute other goods for those identified. 3. Notwithstanding a lessee's insurable interest under subsections 1 and 2, the lessor
retains an insurable interest until an option to buy has been exercised by the lessee
and risk of loss has passed to the lessee. 4. Nothing in this section impairs any insurable interest recognized under any other
statute or rule of law. 5. The parties by agreement may determine that one or more parties have an obligation
to obtain and pay for insurance covering the goods and by agreement may determine
the beneficiary of the proceeds of the insurance.
Frequently Asked Questions About Nevada § 104A.2218
What does Nevada Revised Statutes § 104A.2218 cover?
Section 104A.2218 ("Insurance and proceeds") 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 § 104A.2218?
A common citation format is "Nevada Revised Statutes § 104A.2218" (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 § 104A.2218 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.