Nevada § 231A.160 - Qualifications for long-term debt security
Full text of Nevada Nevada Revised Statutes § 231A.160 — Qualifications for long-term debt security, with citation guidance and answers to common questions.
§ 231A.160. Qualifications for long-term debt security
To qualify as long-term debt security, a debt instrument must be issued by a qualified
community development entity or impact qualified community development entity, at
par value or a premium, with an original maturity date of at least 7 years after the
date of its issuance, with no acceleration of repayment, amortization or prepayment
features before its original maturity date. The qualified community development entity or impact qualified community development
entity that issues the debt instrument must not make interest payments in the form
of cash on the debt instrument during the period beginning on the date of issuance
and ending on the final credit allowance date in an amount that exceeds the cumulative
operating income, as defined by regulations adopted under section 45D of the Internal Revenue Code of 1986 , 26 U.S.C. § 45D , of the qualified community development entity or impact qualified community development
entity for that period before giving effect to the interest expense of the long-term
debt security. This section does not limit the holder's ability to accelerate payments on the debt
instrument in situations in which the issuer has defaulted on covenants designed to
ensure compliance with this chapter or section 45D of the Internal Revenue Code of 1986 , 26 U.S.C. § 45D .
Frequently Asked Questions About Nevada § 231A.160
What does Nevada Revised Statutes § 231A.160 cover?
Section 231A.160 ("Qualifications for long-term debt security") 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 § 231A.160?
A common citation format is "Nevada Revised Statutes § 231A.160" (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 § 231A.160 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.