Nevada Revised Statutes 104.9621 – Notification of proposal to accept collateral in satisfaction of obligation
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2. A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection 1.
Terms Used In Nevada Revised Statutes 104.9621
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.