Nevada § 271.502 - Assessments and other revenues pledged for payment of securities: Lien of pledge; priority; validity against third persons
Full text of Nevada Nevada Revised Statutes § 271.502 — Assessments and other revenues pledged for payment of securities: Lien of pledge; priority; validity against third persons, with citation guidance and answers to common questions.
§ 271.502. Assessments and other revenues pledged for payment of securities: Lien of pledge; priority; validity against third persons
1. The special assessments and any other revenues pledged for the payment of any securities,
as received by or otherwise credited to the municipality, shall immediately be subject
to the lien of each such pledge without any physical delivery thereof, any filing
or further act. 2. The lien of each such pledge and the obligation to perform the contractual provisions
made in the authorizing ordinance, resolution or other instrument appertaining thereto
shall have priority over any or all other obligations and liabilities of the municipality,
except as may be otherwise provided herein or in the ordinance, resolution or other
instrument, and subject to the provisions of NRS 271.420 . 3. The lien of each such pledge shall be valid and binding, as against all persons
having claims of any kind in tort, contract or otherwise against the municipality
irrespective of whether such persons have notice thereof.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 271.502
What does Nevada Revised Statutes § 271.502 cover?
Section 271.502 ("Assessments and other revenues pledged for payment of securities: Lien of pledge; priority; validity against third persons") 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 § 271.502?
A common citation format is "Nevada Revised Statutes § 271.502" (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 § 271.502 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.