Nevada Revised Statutes 487.740 – ‘Flood-damaged vehicle’ defined
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‘Flood-damaged vehicle’ means a motor vehicle which:
Terms Used In Nevada Revised Statutes 487.740
- 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
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
1. Has been submerged in water to a point that the level of the water is higher than the door sill of the vehicle and the water has entered the passenger, trunk or engine compartment of the vehicle and has come into contact with the electrical system of the vehicle; or
2. Has been acquired by an insurance company or retained by its owner or any other person as part of a total loss settlement resulting from water damage.