Nevada Revised Statutes 612.690 – Liability of assignee, receiver, trustee and others selling property of employing unit: Notice to Division
1. Every assignee, receiver, trustee in bankruptcy, liquidator, Administrator, executor, sheriff, constable or any other person who sells substantially all of:
Terms Used In Nevada Revised Statutes 612.690
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Executor: A male person named in a will to carry out the decedent
- 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
- Trustee: A person or institution holding and administering property in trust.
(a) The business;
(b) The stock of goods;
(c) The furniture or fixtures;
(d) The machinery and equipment; or
(e) The goodwill, of any employing unit shall, not less than 5 days before the date of the sale, notify the Division of the name and address of the person conducting the sale and the date, place and the terms of the sale, and provide the Division with a description of the property to be sold.
2. Any assignee, receiver, trustee in bankruptcy, liquidator, Administrator, executor, sheriff, constable or any other person who fails to observe the requirements of this section is personally responsible for all loss in contribution, interest or forfeit attributable to such failure to notify the Division as herein provided.