NAC598.138. Priority of claims.

Latest version.

     1. Except as otherwise provided by law, each claim against the security of a registrant has equal priority.

     2. If the security of a registrant is insufficient to pay in full all claims against the registrant, claims must be paid on a pro rata basis.

     3. Acceptance by a claimant of any payment of a claim on a pro rata basis does not preclude the claimant from bringing an action against the registrant for any money that was not recovered.

(Added to NAC by Comm’r of Consumer Affairs by R122-98, eff. 2-23-99)

                    
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