Nevada § 349.227 - Rates of interest for certain securities; agreement with third party for assurance of payment for securities; reimbursement for advances made pursuant to agreement
Full text of Nevada Nevada Revised Statutes § 349.227 — Rates of interest for certain securities; agreement with third party for assurance of payment for securities; reimbursement for advances made pursuant to agreement, with citation guidance and answers to common questions.
§ 349.227. Rates of interest for certain securities; agreement with third party for assurance of payment for securities; reimbursement for advances made pursuant to agreement
1. In the case of securities bearing interest at a variable rate of interest, or in
the case of securities with a term of 270 days or less issued as commercial paper
under a program for the issuance of commercial paper to fund the costs of a project,
to be deposited into the State General Fund and used for the general operations of
the State or to refinance any previously issued commercial paper or other securities,
the act or resolution authorizing the issuance of any state securities or any trust
indenture or other instrument appertaining thereto may fix a rate or rates of interest
or provide for the determination of the rate or rates from time to time by a designated
agent according to the procedure specified in that resolution or other instrument. The rate so determined must approximate the rates then being paid for other securities
which contain similar provisions and have an equivalent rating. The Commission may contract with or select any person to act as an agent to make
that determination and shall specify parameters for the interest rate if it is fixed
by such an agent. 2. The Commission may enter into an agreement with a third party for an assurance
of payment of the principal of, the interest on, or premiums, if any, due in connection
with any state securities issued by the Commission. The obligation of the Commission to reimburse that third party for any advances
made pursuant to that agreement may be provided in that agreement, recited in those
securities or evidenced by another instrument as designated in the act or resolution
authorizing the issuance of those securities or any other instrument appertaining
thereto. The Commission may assign its rights under that agreement.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 349.227
What does Nevada Revised Statutes § 349.227 cover?
Section 349.227 ("Rates of interest for certain securities; agreement with third party for assurance of payment for securities; reimbursement for advances made pursuant to agreement") 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 § 349.227?
A common citation format is "Nevada Revised Statutes § 349.227" (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 § 349.227 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.