Section 677.420 - Chargeoffs of real property1. When an account is secured by real property and its status places it in a chargeoff classification, the amount charged to the allowance for credit losses may be reduced by the value of the real property, if any.2. The value of such real property must be its estimated sales price on a "forced-sale" basis, less estimated costs of sale and any senior encumbrances.Nev. Admin. Code § 677.420
Dep't of Commerce, Thrift Companies Reg. § 16 subsec. 16.2, eff. 5-20-76; Renumbered as § 15 subsec. 15.2, 12-14-78