Nev. Rev. Stat. § 354.743
Use of leases and lease-purchase and installment-purchase agreements: “Agreement” defined
Nevada · Nevada Revised Statutes Chapter 354 — Local Financial Administration · Status: effective
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- Citation
- Nev. Rev. Stat. § 354.743, Use of leases and lease-purchase and installment-purchase agreements: “Agreement” defined, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2105698
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Full text
As used in NRS 354.740 and 354.745, “agreement” means an agreement to purchase property in the form of a lease or an agreement to pay in installments, pursuant to which a local government may pay the purchase price of real or personal property over a period of time which extends beyond the biennium in which the agreement is executed, including, without limitation:
1. An agreement pursuant to which a local government may acquire the property that is the subject of the agreement at the end of the term of the agreement or at the end of the term of a renewal of the agreement upon payment of no additional consideration or nominal additional consideration; and
2. An agreement that, for the purposes of federal income tax, is treated as an agreement for conditional sale.