NAC561.020. “Agricultural debt” defined.

Latest version.

“Agricultural debt” means money a borrower owes to a creditor which is secured by:

     1. Personal property used in or relating to the operation of a farm or ranch; or

     2. A parcel of land which is:

     (a) More than 20 acres;

     (b) Not located in an incorporated city, including Carson City; and

     (c) Used in farming or ranching operations by the owner or operator during the 3 years immediately preceding a request for mediation.

Ê The term includes a debt secured by wasteland lying within or contiguous to and in common ownership with a parcel of land described in this subsection.

(Added to NAC by Dep’t of Agriculture, eff. 10-30-90)

                    
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