1. The lien provided for in NRS 108.887 applies to any farm product and any processed farm product in the possession of the processor. 2. For the purposes of this section, a farm product or a processed farm product deposited by a processor with a warehouse, whether or not warehouse receipts are given as security to a lender, shall be deemed to be in the possession of the processor and subject to the lien of the producer. 3. As used in this section: (a) 'Lender' includes any person who advances new value to a processor. (b) 'New value' includes a new advance or loan, whether in money or property, that is made by a lender to a processor. The term does not include an: (1) Extension or renewal of an existing obligation of the processor; or (2) Obligation that is substituted for an existing obligation of the processor. (Added to NRS by 2001, 1229)
Nevada Legal Code