NRS 108.891 Release of lien: Provision of security; payment or arrangement for payment.
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NRS 108.891 Release of lien: Provision of security; payment or arrangement for payment.
1. A lien on a farm product or processed farm product may be released to the extent that the value of the claim upon the farm product or processed farm product is secured by:
(a)A surety bond;
(b)A cash deposit; or
(c)Other security given and approved by a producer who holds a lien.
2. A producer holding a lien may release a lien upon:
(a)Payment for the agreed amount or for the reasonable value of the farm product that is sold or delivered; or
(b)Arrangements being made for payment of the agreed amount or for the reasonable value of the farm product that is sold or delivered that are satisfactory to the producer.