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SANDPOINTE APTS. v. EIGHTH JUD. DIST. CT.

No. 59507.

313 P.3d 849 (2013)

SANDPOINTE APARTMENTS, LLC, a Nevada Limited Liability Company; and Stacy Yahrauslewis, an Individual, Petitioners, v. The EIGHTH JUDICIAL DISTRICT COURT of the State of Nevada, in and for the County of Clark; and the Honorable Elizabeth Goff Gonzalez, District Judge, Respondents, and CML-NV Sandpointe, LLC, a Florida Limited Liability Company, Real Party in Interest.

Supreme Court of Nevada.

November 14, 2013.

Attorney(s) appearing for the Case

Marquis Aurbach Coffing and Frank M. Flansburg, III , and Candice E. Renka , Las Vegas, for Petitioners.

Lewis & Roca LLP and Daniel F. Polsenberg , Las Vegas; Cotton, Driggs, Walch, Holley, Woloson & Thompson and Richard F. Holley , Victoria L. Nelson , and William N. Miller , Las Vegas, for Real Party in Interest.

Holland & Hart LLP and Jeremy J. Nork and Frank Z. LaForge , Reno, for Amicus Curiae Branch Banking and Trust Company.

Legislative Counsel Bureau Legal Division and Brenda J. Erdoes , Legislative Counsel, and Kevin C. Powers , Senior Principal Deputy Legislative Counsel, Carson City, for Amicus Curiae Legislature of the State of Nevada.

The O'Mara Law Firm, P.C., and David C. O'Mara , Reno, for Amicus Curiae Nevada Bankers Association.

Sylvester & Polednak, Ltd., and Jeffrey R. Sylvester and Allyson R. Noto , Las Vegas, for Amicus Curiae RADC/CADC Venture 2010-2, LLC.

Alfred M. Pollard , Washington, D.C., for Amicus Curiae Federal Housing Finance Agency.

Joseph Brooks , Arlington, Virginia, for Amicus Curiae Federal Deposit Insurance Corporation.

BEFORE THE COURT EN BANC.

OPINION

By the Court, SAITTA, J.:

In this opinion, we address NRS 40.459(1)(c), a statute limiting the amount of judgments in instances where a right to obtain a judgment against the debtor, guarantor, or surety has been transferred from one person to another. NRS 40.459(1)(c) was added to Nevada's law by Assembly Bill 273, which provided that NRS 40.459(1)(c) would "become effective upon passage and approval." 2011 Nev. Stat., ch. 311, §§...

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