I run across a large number of installations where the electrician installs NM cable in Liquid-tight conduit to outside equipment such as A/C units and well equipment.
I have failed these jobs and have required the installation of cables or condutors listed for wet location based on 225.4 / 310.8 of the NEC.
Some have argued that the conductors in NM cable is thhn, however even so, 310.8(C) does not list thhn as listed for wet location and 334.10(A) also states "normally dry location."
I discussed the issue with UL and they claim any insulation type listed in Table 310.13 and is rated at 90° C. will comply. Its basically up to the manufacturer.
I called one NM manufacturer whom stated their conductors are insulated with basically THHN without the nylon jacket. They also confirmed NM is not to be used outdoors or in wet locations.
So, it appears I have the code on my side, however I don't know if common sense is. Is the inside of a raceway listed for a wet location also a wet location? Yes or no, the code indicates it doesn't matter.
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Bryan P. Holland, MCP