Nevada § 350.686 - Calls for prior redemption: Limitations
Full text of Nevada Nevada Revised Statutes § 350.686 — Calls for prior redemption: Limitations, with citation guidance and answers to common questions.
§ 350.686. Calls for prior redemption: Limitations
Nothing contained in the Local Government Securities Law or in any other law of this
state shall be construed to permit the governing body to call on behalf of the municipality
bonds or other securities outstanding now or any time after April 12, 1967, for prior
redemption in order to fund or refund such securities or in order to pay them prior
to their stated maturities, unless the right to call such securities for prior redemption
was specifically reserved and stated in such securities at the time of their issuance,
and all conditions with respect to the manner, price and time applicable to such prior
redemption as set forth in the proceedings authorizing the outstanding securities
are strictly observed. It is the intention of the Legislature in this section to make it certain that the
holder of no outstanding bond or other security may be compelled to surrender such
security for funding or refunding prior to its stated maturity or optional date of
prior redemption expressly reserved therein, even though such funding or refunding
might result in financial benefit to the municipality.
Frequently Asked Questions About Nevada § 350.686
What does Nevada Revised Statutes § 350.686 cover?
Section 350.686 ("Calls for prior redemption: Limitations") 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 § 350.686?
A common citation format is "Nevada Revised Statutes § 350.686" (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 § 350.686 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.