It is lawful for any party of whom a bond, undertaking or other obligation is required, to agree with the party’s surety or sureties for the deposit of any money and assets for which the party and the party’s surety or sureties are or may be held responsible, with a bank, credit union, savings bank, safe-deposit or trust company, authorized by law to do business as such, or with another depository approved by the court or a judge thereof, if the deposit is otherwise proper, for the safekeeping thereof, and in such manner as to prevent the withdrawal of the money or assets or any part thereof, without the written consent of the surety or sureties, or an order of court or a judge thereof, made on such notice to the surety or sureties as the court or judge may direct; but the agreement does not in any manner release from or change the liability of the principal or sureties as established by the terms of the bond.
NRS 100.060
Agreements between principals and sureties for joint control of assets
Known as the Asset-Backed Securities Facilitation Act
The act spans §§ 100–100 (28 sections).
Applied in 2 court decisions — leading case Natko v. State (2018)
Most recently applied in Natko v. State (December 2018)
[1:236:1949; 1943 NCL § 7633.01]—(NRS A 1999, 1456)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.