Default on the part of the lessee in a consumer vehicle lease is only enforceable to the extent that: 1. The lessee fails to make a payment as required by the lease agreement, but in no case less than 30 days after the date required by the lease agreement; or 2. The prospect of payment, performance or realization of collateral is significantly impaired. The burden of establishing the prospect of significant impairment is on the lessor.
‹ Prev All Nevada sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.