Nevada § 40.509 - Limitation on amount of damages recoverable in action concerning environmental provision; recovery of interest
Full text of Nevada Nevada Revised Statutes § 40.509 — Limitation on amount of damages recoverable in action concerning environmental provision; recovery of interest, with citation guidance and answers to common questions.
§ 40.509. Limitation on amount of damages recoverable in action concerning environmental provision; recovery of interest
1. Unless the environmental provision expressly permits a different or greater recovery
or subsection 2 permits the addition of interest, the damages recoverable by a secured
lender in an action pursuant to NRS 40.508 are limited to the sum of reimbursement or indemnification for: (a) If the secured lender acted pursuant to an order of any federal, state or local
governmental agency relating to the cleaning up, remedying or other responsive action
required by applicable law which is anticipated by the environmental provision, all
amounts reasonably advanced in good faith by the secured lender in connection therewith; (b) If the secured lender did not act pursuant to such an order, those costs relating
to a reasonable cleaning up, remedying or other responsive action concerning hazardous
substances, performed in good faith, which is anticipated by the environmental provision; (c) All liabilities of the secured lender to any third party relating to the breach,
unless the secured lender had actual knowledge of the environmental condition which
is the basis of the claim for indemnification before entering into the transaction
in which the environmental provision was given; and (d) Costs, attorney's fees and other incidental relief. 2. If the parties have so agreed, the secured lender may recover interest on the amount
advanced by the secured lender to cure or mitigate the breach.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 40.509
What does Nevada Revised Statutes § 40.509 cover?
Section 40.509 ("Limitation on amount of damages recoverable in action concerning environmental provision; recovery of interest") 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 § 40.509?
A common citation format is "Nevada Revised Statutes § 40.509" (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 § 40.509 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.