Nevada Revised Statutes 612.686 – Creditors and debtors of employer: Duties; certain transfers of property prohibited; demand to transmit certain property to Administrator
1. If a person is notified of a delinquency pursuant to NRS 612.685, the person shall neither transfer, pay over nor make any other disposition of money or property belonging to the delinquent employing unit, or any portion thereof, until the Administrator consents thereto in writing.
Terms Used In Nevada Revised Statutes 612.686
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Personal property: All property that is not real property.
2. A person so notified shall, within 11 days after receipt of the notice, advise the Administrator of all credits, debts or other personal property of the delinquent employing unit in the person’s possession, under the person’s control or owing by the person, as the case may be.
3. The Administrator may, by registered or certified mail or electronic transmission, give the person so notified a demand to transmit. Upon receipt of the demand, that person shall transmit to the Division, within the time and in the manner stated in the demand, the lesser of:
(a) All the credits, debts or other personal property of the delinquent employing unit in the person’s possession, under the person’s control or owing by the person; or
(b) The amount specified in the demand. Except as otherwise provided in subsection 4, no further notice is required.
4. If the property of the delinquent employing unit consists of a series of payments owed to it, the person who owes or controls the payments shall transmit them to the Division until otherwise notified by the Administrator. If the debt is not paid within 1 year after the demand to transmit was given, the Administrator shall give another demand to the person who owes or controls the payments, instructing the person to continue to transmit the payments or informing the person that the person’s duty to transmit them has ceased.
5. A person notified of a delinquency who makes any transfer or other disposition of property required to be withheld or transmitted to the Division is liable for the amount of the delinquency to the extent of the value of the property or the amount of the debt so transferred or paid.
6. The Division shall determine as promptly as practicable whether sufficient liquid assets have been withheld or transmitted to satisfy its claim. As soon as the Division determines that the assets are sufficient, it shall consent in writing to a transfer or other disposition of assets in excess of the amount needed.