Nev. Rev. Stat. § 104A.2102

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 104A.2102 - Scope

1. This article applies to any transaction, regardless of form, that creates a lease and, in the case of a hybrid lease, it applies to the extent provided in subsection 2.

2. In a hybrid lease:

(a) If the lease-of-goods aspects do not predominate:

(1) Only the provisions of this Article which relate primarily to the lease-of-goods aspects of the transaction apply, and the provisions that relate primarily to the transaction as a whole do not apply;

(2)NRS 104A.2209 applies if the lease is a finance lease; and

(3)NRS 104A.2407 applies to the promises of the lessee in a finance lease to the extent the promises are consideration for the right to possession and use of the leased goods.

(b) If the lease-of-goods aspects predominate, this Article applies to the transaction, but this does not preclude application in appropriate circumstances of other law to the aspects of the lease which do not relate to the lease of goods.

NRS 104A.2102

Added to NRS by 1989, 340; A 1989, 721; 2023, 3239

Amended by 2023, Ch. 505,§92, eff. 10/1/2023.

Added to NRS by 1989, 340; A 1989, 721