NRS 107A.340 - Perfection and priority of assignee’s security interest in proceeds.

NV Rev Stat § 107A.340 (2019) (N/A)

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1. An assignee’s security interest in identifiable cash proceeds is perfected if its security interest in rents is perfected. An assignee’s security interest in identifiable noncash proceeds is perfected only if the assignee perfects that interest in accordance with Article 9.

2. Except as otherwise provided in subsection 3, priority between an assignee’s security interest in identifiable proceeds and a conflicting interest is governed by the priority rules in Article 9.

3. An assignee’s perfected security interest in identifiable cash proceeds is subordinate to a conflicting interest that is perfected by control under Article 9 but has priority over a conflicting interest that is perfected other than by control.

4. As used in this section:

(a) “Article 9” means NRS 104.9101 to 104.9709, inclusive, or, to the extent applicable to any particular issue, Article 9 of the Uniform Commercial Code as adopted by the state whose laws govern that issue under the choice-of-laws rules contained in NRS 104.9101 to 104.9709, inclusive.

(b) “Conflicting interest” means an interest in proceeds, held by a person other than an assignee, that is:

(1) A security interest arising under Article 9; or

(2) Any other interest if Article 9 resolves the priority conflict between that person and a secured party with a conflicting security interest in the proceeds.

(Added to NRS by 2007, 306)

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NRS 107A.330 - Turnover of rents; commingling and identifiability of rents; liability of assignor.

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NRS 107A.350 - Priority subject to subordination.