“Guaranteed or insured” defined.

“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)