Nevada Revised Statutes 541.270 – Liens to secure payment of annual installments
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To meet the annual installments as provided in contracts for the use of water:
Terms Used In Nevada Revised Statutes 541.270
- Board: means the board of directors of the district. See Nevada Revised Statutes 541.020
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage: includes a deed of trust. See Nevada Revised Statutes 0.037
- 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
- Works: means drains, channels, trenches, watercourses and other surface and subsurface conduits to effect drainage, dams, storage reservoirs, compensatory and replacement reservoirs, canals, conduits, pipelines, drains, tunnels, power plants and any and all works, facilities, improvements and property necessary or convenient for the supplying of water for domestic, irrigation, power, milling, manufacturing, mining, metallurgical, and any and all other beneficial uses, and for otherwise accomplishing the purposes of this chapter. See Nevada Revised Statutes 541.020
1. A water users’ association may bind itself to levy an annual assessment on the use of water and to secure the same by liens on land and water rights or in such manner as may be provided by law.
2. A mutual ditch or irrigation company may bind itself by mortgage upon its irrigation works and system and levy annual assessments upon its stockholders.
3. Any person or corporation landowner may create a mortgage lien upon lands or give other security satisfactory to the board; and all such contracts shall provide for forfeiture of the use of water for nonpayment of assessments or installments.