Nevada Administrative Code
Chapter 677 - Thrift Companies
RECEIVABLES
Section 677.420 - Chargeoffs of real property
Universal Citation: NV Admin Code 677.420
Current through September 16, 2024
1. When an account is secured by real property and its status places it in a chargeoff classification, the amount charged to the allowance for credit losses may be reduced by the value of the real property, if any.
2. The value of such real property must be its estimated sales price on a "forced-sale" basis, less estimated costs of sale and any senior encumbrances.
Dep't of Commerce, Thrift Companies Reg. § 16 subsec. 16.2, eff. 5-20-76; Renumbered as § 15 subsec. 15.2, 12-14-78
NRS 677.380, 677.460
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