Nevada § 120A.540 - Dormancy charge
Full text of Nevada Nevada Revised Statutes § 120A.540 — Dormancy charge, with citation guidance and answers to common questions.
§ 120A.540. Dormancy charge
A holder may deduct from property presumed abandoned a charge imposed by reason of
the owner's failure to claim the property within a specified time only if there is
a valid and enforceable written contract between the holder and the owner under which
the holder may impose the charge and the holder regularly imposes the charge, which
is not regularly reversed or otherwise cancelled. The amount of the deduction must not exceed $5 per month.
Frequently Asked Questions About Nevada § 120A.540
What does Nevada Revised Statutes § 120A.540 cover?
Section 120A.540 ("Dormancy charge") 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 § 120A.540?
A common citation format is "Nevada Revised Statutes § 120A.540" (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 § 120A.540 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.