'Guaranteed or insured,' when used in connection with an obligation acquired in accordance with the provisions of this chapter, means that the guarantor or insurer has agreed to: 1. Perform or insure the obligation of the obligor or purchase the obligation; or 2. Be unconditionally obligated until the obligation is repaid to maintain in the obligor a minimum net worth, fixed charge coverage, stockholder’s equity or sufficient liquidity to enable the obligor to pay the obligation in full. (Added to NRS by 2015, 3420)
Nevada Legal Code