Nevada § 350.0055 - “Installment-purchase agreement” defined
Full text of Nevada Nevada Revised Statutes § 350.0055 — “Installment-purchase agreement” defined, with citation guidance and answers to common questions.
§ 350.0055. “Installment-purchase agreement” defined
“ Installment-purchase agreement ” means an agreement for the purchase of real or personal property by installment
or lease or another transaction that is described in NRS 350.800 which: 1. Is required to be counted against any limit upon the debt of a local government
pursuant to subsection 1 of NRS 350.800 ; or 2. Is not required to be counted against any limit upon the debt of a local government
and: (a) Exceeds $100,000 for a local government in a county whose population is 100,000
or more; or (b) Exceeds $50,000 for a local government in a county whose population is less than
100,000. The term “installment-purchase agreement” does not include an obligation to pay rent
pursuant to a lease which contains no option or right to purchase or which contains
only an option or right to purchase the property without any credit towards the purchase
price for lease or rental payments.
Frequently Asked Questions About Nevada § 350.0055
What does Nevada Revised Statutes § 350.0055 cover?
Section 350.0055 ("“Installment-purchase agreement” defined") 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 § 350.0055?
A common citation format is "Nevada Revised Statutes § 350.0055" (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 § 350.0055 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.