Nev. Rev. Stat. § 349.790
Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
If an exporter defaults on the participating financial institution's loan because of a loss and that institution is excused from repaying the guaranteed funding, the Director is subrogated to the exporter's rights against the foreign customer for payment and to the participating financial institution's rights against the exporter to the extent of any payment received by the exporter which reduces his or her loss for which his or her payment to the participating financial institution has previously been excused.
NRS 349.790