1. With court approval, a receiver may use receivership property other than in the ordinary course of business.
2. With court approval, a receiver may transfer receivership property other than in the ordinary course of business by sale, lease, license, exchange or other disposition. Unless the agreement of sale provides otherwise, a sale under this section is free and clear of a lien of the person that obtained appointment of the receiver, any subordinate lien and any right of redemption but is subject to a senior lien.
3. A lien on receivership property which is extinguished by a transfer under subsection 2 attaches to the proceeds of the transfer with the same validity, perfection and priority the lien had on the property immediately before the transfer, even if the proceeds are not sufficient to satisfy all obligations secured by the lien.
4. A transfer under subsection 2 may occur by means other than a public auction sale. A creditor holding a valid lien on the property to be transferred may purchase the property and offset against the purchase price part or all of the allowed amount secured by the lien, if the creditor tenders funds sufficient to satisfy in full the reasonable expenses of transfer and the obligation secured by any senior lien extinguished by the transfer.
5. A reversal or modification of an order approving a transfer under subsection 2 does not affect the validity of the transfer to a person that acquired the property in good faith or revive against the person any lien extinguished by the transfer, whether the person knew before the transfer of the request for reversal or modification, unless the court stayed the order before the transfer.
6. As used in this section, "good faith" means honesty in fact and the observance of reasonable commercial standards of fair dealing.
(Added to NRS by 2017, 1229)
Structure Nevada Revised Statutes
NRS 32.010 - Cases in which receiver may be appointed.
NRS 32.015 - Additional cases in which receiver may be appointed.
NRS 32.020 - Reversion and disposition of unclaimed dividends in receivership.
NRS 32.110 - "Affiliate" defined.
NRS 32.115 - "Companion" defined.
NRS 32.125 - "Executory contract" defined.
NRS 32.130 - "Governmental unit" defined.
NRS 32.140 - "Mortgage" defined.
NRS 32.145 - "Mortgagee" defined.
NRS 32.150 - "Mortgagor" defined.
NRS 32.160 - "Person" defined.
NRS 32.165 - "Proceeds" defined.
NRS 32.170 - "Property" defined.
NRS 32.175 - "Receiver" defined.
NRS 32.180 - "Receivership" defined.
NRS 32.185 - "Receivership property" defined.
NRS 32.190 - "Record" defined.
NRS 32.200 - "Secured obligation" defined.
NRS 32.205 - "Security agreement" defined.
NRS 32.220 - Scope; exclusions.
NRS 32.250 - Notice and opportunity for hearing.
NRS 32.260 - Appointment of receiver.
NRS 32.265 - Disqualification from appointment as receiver; disclosure of interest.
NRS 32.270 - Adoption of rules governing ethics of receivers.
NRS 32.275 - Receiver’s bond; alternative security.
NRS 32.280 - Status of receiver as lien creditor.
NRS 32.285 - Security agreement covering property acquired after appointment of receiver.
NRS 32.290 - Collection and turnover of receivership property.
NRS 32.295 - Powers and duties of receiver.
NRS 32.305 - Stay; injunction.
NRS 32.310 - Engagement and compensation of professional.
NRS 32.315 - Use or transfer of receivership property not in ordinary course of business.
NRS 32.320 - Executory contract.
NRS 32.325 - Defenses and immunities of receiver.
NRS 32.330 - Interim report of receiver.
NRS 32.335 - Notice of appointment; claim against receivership; distribution to creditors.
NRS 32.340 - Fees and expenses.
NRS 32.345 - Removal of receiver; replacement; termination of receivership.
NRS 32.350 - Final report of receiver; discharge.
NRS 32.355 - Receivership in another state; ancillary proceeding.
NRS 32.360 - Effect of enforcement by mortgagee.
NRS 32.365 - Uniformity of application and construction.
NRS 32.370 - Relation to Electronic Signatures in Global and National Commerce Act.