NAC561.140. Agreement for resolution of debt; request for further mediation.

Latest version.

     1. If the creditor and borrower reach an agreement for the resolution of the agricultural debt, the mediator, creditor and borrower must agree upon a person to draft the agreement. The creditor and the borrower must sign the agreement.

     2. If the creditor and borrower do not reach an agreement on or before the date on which they have agreed to conclude the mediation, they may request further mediation or that the mediation be concluded. A request for further mediation:

     (a) Must be made by the creditor and the borrower; and

     (b) Extends the mediation for 30 days. Thereafter, the creditor and borrower may request further extensions for periods not to exceed 30 days.

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

                    
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