[Rev. 11/21/2013 9:31:53
AM--2013]
TITLE 9 - SECURITY INSTRUMENTS OF PUBLIC UTILITIES;
MORTGAGES; DEEDS OF TRUST; OTHER LIENS
CHAPTER 105 - SECURITY INSTRUMENTS OF PUBLIC
UTILITIES
NRS 105.010 Definitions.
NRS 105.020 Applicability
of provisions; changing method of perfection or notice.
NRS 105.030 Presentation
of security instrument for filing constitutes perfection and notice;
requirements for filing; applicability of Uniform Commercial Code—Secured
Transactions.
NRS 105.040 Effective
date of perfection or notice.
NRS 105.050 Recording
of security interest in real property owned by public utility; recording
provides notice of certain subsequent security instruments executed by public
utility.
NRS 105.060 Filing
name change, merger or consolidation of public utility; effectiveness of
security instrument filed before name change, merger or consolidation.
NRS 105.070 Duty
of Secretary of State or county recorder to mark security instrument and
statement of name change, merger or consolidation upon filing; retention and
filing of instrument and statements; fees.
NRS 105.080 Certificate
of Secretary of State showing existence of security instrument; copy of filed
security instrument; fees.
_________
NRS 105.010 Definitions. As
used in NRS 105.010 to 105.080,
inclusive, unless the context otherwise requires:
1. “Public utility” has the meaning
ascribed to it in NRS 704.020.
2. “Security instrument” means a mortgage,
deed of trust, security agreement or other instrument executed to secure the
payment of a bond, note or other obligation of a public utility and includes an
amendment or supplement to such an instrument.
3. The words and terms defined in chapter 104 of NRS have the meanings ascribed to
them in that chapter.
(Added to NRS by 1995, 880)
NRS 105.020 Applicability of provisions; changing method of perfection or
notice.
1. The provisions of NRS 105.010 to 105.080,
inclusive, apply to a public utility only if the public utility elects to file
a security instrument pursuant to NRS 105.030 and
then only as to the method of perfection or notice of that security instrument.
2. Except as otherwise provided in
subsection 3 of NRS 105.040, a public utility shall
not change the method of perfection or notice of a security instrument from a
method allowed pursuant to a provision other than NRS
105.010 to 105.080, inclusive, to the method
allowed by NRS 105.010 to 105.080,
inclusive.
3. Once a security instrument has been
filed pursuant to NRS 105.030, the public utility
shall not change the method of perfection or notice for that security
instrument pursuant to a provision other than NRS
105.010 to 105.080, inclusive.
(Added to NRS by 1995, 880)
NRS 105.030 Presentation of security instrument for filing constitutes
perfection and notice; requirements for filing; applicability of Uniform
Commercial Code—Secured Transactions.
1. Presentation of a security instrument
to the Secretary of State or a county recorder for filing and tender of the
statutory filing fee or acceptance of the security instrument by the Secretary
of State or county recorder, if the security instrument states conspicuously on
its title page: “This Instrument Grants A Security Interest By A Public
Utility” constitutes:
(a) Perfection of a security interest created by
the security instrument in any personal property, including goods which are, or
are to become, fixtures, in which a security interest may be perfected by
filing pursuant to NRS 104.9101 to 104.9709, inclusive, located in this
state or in the county and owned by the public utility when the security
instrument was executed or to be acquired by the public utility after execution
of the security instrument; and
(b) Notice to all persons of the existence of the
security instrument and the interest granted therein, as security, in any real
property or fixtures thereon, or to be placed thereon, located in this state or
in the county and owned by the public utility when the security instrument was
executed or to be acquired by the public utility after the execution of the
security instrument if the security instrument is proved or acknowledged and
certified as required by law for the recording of conveyances of real property.
2. The filed security instrument must:
(a) Identify the property by type, character or
description if it is presently owned personal property, including fixtures;
(b) Provide a description of the property if it
is presently owned real property; and
(c) State conspicuously on its title page: “This
Instrument Contains After-Acquired Property Provisions” if the property is to
be acquired after the execution of the security instrument.
3. A description of real or personal
property in a security instrument is sufficient, whether or not it is specific,
if it reasonably identifies what is described.
4. The provisions of NRS 104.9101 to 104.9709, inclusive, pertaining to
priorities and remedies apply to security interests in personal property,
including fixtures, perfected under this section.
(Added to NRS by 1995, 881; A 1999, 387)
NRS 105.040 Effective date of perfection or notice.
1. The perfection or notice provided by a
security instrument filed pursuant to NRS 105.030
is effective from the date of presentation for filing until the interest
granted as security is released by the filing of a termination statement or a
release or reconveyance of all or a part of the property signed by the secured
party or trustee. No renewal, refiling or continuation statement is required to
continue this effectiveness.
2. Perfection or notice provided by a
security instrument covering real or personal property located in this state
which was filed with the Secretary of State or recorded in the office of a
county recorder before October 1, 1995, or which was filed or recorded before
March 1, 1967, in compliance with the law in effect at the time of its filing
or recordation, remains effective for the period provided by the law in effect
at the time of its filing or recordation.
3. Such an instrument may be filed anew
pursuant to NRS 105.030, and if so filed has the
effect given to security instruments originally filed pursuant to NRS 105.010 to 105.080,
inclusive. The priority of such a filing dates from the time that the security
interest was first filed with the Secretary of State or recorded in the office
of a county recorder and not from the date the instrument is filed anew
pursuant to NRS 105.030.
(Added to NRS by 1995, 881)
NRS 105.050 Recording of security interest in real property owned by public
utility; recording provides notice of certain subsequent security instruments
executed by public utility.
1. If a security instrument filed with the
Secretary of State grants an interest, as security, in any real property owned
by the public utility, a notice of filing of a security instrument affecting
real property must be recorded in the office of the county recorder in the
county where the real property is located, stating:
(a) The name of the public utility which executed
the security instrument;
(b) That a security instrument affecting real
property in the county has been executed by the public utility; and
(c) That the security instrument was filed, and
other security instruments may later be on file, in the Office of the Secretary
of State.
Ê The notice
required by this section must be acknowledged or proved and certified in the
manner provided in chapter 111 of NRS and in NRS 240.161 to 240.169, inclusive.
2. After such recording, no notice need be
recorded regarding other security instruments executed by the public utility.
The notice recorded under subsection 1 is sufficient to provide notice of all
subsequent security instruments:
(a) Executed by the public utility;
(b) Filed with the Secretary of State; and
(c) Granting an interest, as security, in any
real property, and fixtures thereto, located in the county where the notice is
recorded.
3. Notices recorded pursuant to subsection
1 must be recorded and indexed by the county recorder in the same records and
indexes as are mortgages on real property.
(Added to NRS by 1995, 882)
NRS 105.060 Filing name change, merger or consolidation of public utility;
effectiveness of security instrument filed before name change, merger or
consolidation.
1. If a public utility changes its name or
merges or consolidates with another person after the presentation for filing of
a security instrument executed by it, a written statement of the change, merger
or consolidation must promptly be presented for filing to the Secretary of
State and each county where a notice has been recorded pursuant to NRS 105.050. The statement must be signed by the
secured party and the public utility, identify the appropriate security
instrument by file number and state the name of the public utility after the
change, merger or consolidation.
2. A security instrument presented for
filing before the change, merger or consolidation is not effective to provide
perfection or notice of interests granted as security in property acquired by
the public utility more than 4 months after the change, merger or
consolidation, unless the written statement required by this section is
presented for filing before the expiration of that time.
(Added to NRS by 1995, 882)
NRS 105.070 Duty of Secretary of State or county recorder to mark security
instrument and statement of name change, merger or consolidation upon filing;
retention and filing of instrument and statements; fees.
1. The Secretary of State or county
recorder shall mark any security instrument and any statement of change, merger
or consolidation presented for filing with the day and hour of filing and the
file number assigned to it. This mark is, in the absence of other evidence,
conclusive proof of the time and fact of presentation for filing.
2. The Secretary of State or county
recorder shall retain and file all security instruments and statements of
change, merger or consolidation presented for filing.
3. The uniform fee for filing and indexing
a security instrument, or a supplement or amendment thereto, and a statement of
change, merger or consolidation, and for stamping a copy of those documents
furnished by the secured party or the public utility to show the date and place
of filing is:
(a) Forty dollars if the record is communicated
in writing and consists of one or two pages;
(b) Sixty dollars if the record is communicated
in writing and consists of more than two pages, and $2 for each page over 20
pages;
(c) Twenty dollars if the record is communicated
by another medium authorized by filing-office rule; and
(d) Two dollars for each additional debtor, trade
name or reference to another name under which business is done.
(Added to NRS by 1995, 882; A 2003, 843; 2003,
20th Special Session, 130)
NRS 105.080 Certificate of Secretary of State showing existence of security
instrument; copy of filed security instrument; fees.
1. Upon the request of any person, the
Secretary of State shall issue a certificate showing whether there is on file,
on the date and hour stated therein, any presently effective security
instrument naming a particular public utility and, if there is, giving the date
and hour of filing of the instrument and the names and addresses of each
secured party. The uniform fee for such a certificate is:
(a) Forty dollars if the request is communicated
in writing; and
(b) Twenty dollars if the request is communicated
by another medium authorized by filing-office rule.
2. Upon request, the Secretary of State or
a county recorder shall furnish a copy of any filed security instrument upon
payment of the statutory fee for copies.
(Added to NRS by 1995, 883; A 2003, 843; 2003,
20th Special Session, 130)
