482.053 - “Lease,” “long-term lessee,” “long-term lessor,” “short-term lessee” and “short-term lessor” defined.
482.053 “Lease,” “long-term lessee,” “long-term lessor,” “short-term lessee” and “short-term lessor” defined. For the purposes of regulation under this chapter and of imposing tort liability under NRS 41.440, and for no other purpose:
1. “Lease” means a contract by which the lienholder or owner of a vehicle transfers to another person, for compensation, the right to use such vehicle.
2. “Long-term lessee” means a person who has leased a vehicle from another person for a fixed period of more than 31 days.
3. “Long-term lessor” means a person who has leased a vehicle to another person for a fixed period of more than 31 days.
4. “Short-term lessee” means a person who has leased a vehicle from another person for a period of 31 days or less, or by the day, or by the trip.
5. “Short-term lessor” means a person who has leased a vehicle to another person for a period of 31 days or less, or by the day, or by the trip.
(Added to NRS by 1967, 704; A 1975, 1070)