Asset-backed security defined.
Nev. Rev. Stat. § 682A.023
in effectAsset-backed security means a security or other instrument, excluding a mutual fund, evidencing an interest in, or the right to receive payments from, or payable from distributions on, an asset, a pool of assets or specifically divisible cash flows which are legally transferred to a trust, or another special purpose bankruptcy-remote business entity, which meets the conditions set forth in NRS 682A.245.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-682A.htmlFetched: 10/4/2026