Nevada Revised Statutes 353C.222 – Selling certain debt in lieu of requesting designation of debt as bad debt; deposit of money received from sale of debt
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1. If the period of limitation for the collection of a debt set forth in NRS 353C.140 has expired, the State Controller may, in lieu of requesting the State Board of Examiners to designate the debt as a bad debt pursuant to NRS 353C.220, sell the debt to any person.
Terms Used In Nevada Revised Statutes 353C.222
- 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
2. All money received by the State Controller from the sale of a debt pursuant to subsection 1 must be deposited in the Debt Recovery Account created by NRS 353C.226.