Statutes > Nevada Statutes > TITLE 31 - PUBLIC FINANCIAL ADMINISTRATION > Chapter 353 - State Financial Administration > STATE ACCOUNTING PROCEDURES LAW > 353.3087 - “Liability” defined.

353.3087 - “Liability” defined.

353.3087  “Liability” defined.  “Liability” means a debt or other legal obligation arising out of a transaction in the past which must be liquidated, renewed or refunded at some future date.

      (Added to NRS by 1977, 38; A 1987, 624)