1-3 1. Without limit, obligations of, or obligations guaranteed as to

1-4 principal and interest by, the United States or any state.

1-5 2. Obligations of the United States Postal Service, whether or not

1-6 guaranteed as to principal and interest by the United States.

1-7 3. Stock of a Federal Home Loan Bank of which the association is

1-8 eligible to be a member.

1-9 4. Any obligations or consolidated obligations of any Federal Home

1-10 Loan Bank or Banks.

1-11 5. Stock or obligations of the Federal Deposit Insurance Corporation.

1-12 6. Stock or obligations of a national mortgage association or any

1-13 successor or successors thereto, including the Federal National Mortgage

2-28 available money, [bank deposits,] deposits in banks and credit unions,

2-29 United States Government bonds, certificates of insured savings and loan

2-30 associations, Federal Home Loan Bank evidences of indebtedness, time

2-31 certificates of insured federal and state banks , time certificates of insured

2-32 credit unions or [of] any indebtedness of any United States Government

2-33 instrumentality which is by statute fully guaranteed, a sum not less than 5

2-34 percent of the aggregate of savings accounts and investment certificates to

2-35 enable it to pay withdrawals in excess of receipts and to meet accruing

2-36 expenses. The commissioner may prescribe from time to time different

2-37 amounts required for liquidity purposes, but the amounts must not be less

2-38 than 4 percent or more than 8 percent.

2-39 2. A deposit in a bank , credit union or association under the control or

2-40 the possession of appropriate supervisory authority must not be considered

2-41 as cash. Except for deposits in a Federal Home Loan Bank, a time deposit

3-21 1. Open and maintain a separate trust account in a state [bank] or

3-22 national bank or credit union doing business in this state. All money

3-23 received from debtors for the benefit of creditors must be deposited in, and

3-24 all payments to creditors must be disbursed from, this account.

3-25 2. Keep and use such books and accounting records as are in accord

3-26 with sound and accepted accounting practices.

3-27 3. Maintain a separate record or ledger card for the account of each

3-28 debtor, showing the amount of money received from and disbursed on

3-29 behalf of each debtor.

3-30 4. Maintain a separate record, in a form approved by the commissioner,

3-31 or ledger card for each creditor, identifying the particular debtor-source of

3-32 money and showing the amount of money disbursed in accordance with the

3-33 appropriate debt-adjustment contract.

3-34 5. Preserve all books and accounting records for at least 7 years after

3-38 commissioner may establish the basis upon which reasonable and adequate

3-39 reserves must be created and maintained, which must be no less than 3

3-40 percent of the deposits, in [cash] :

3-41 (a) Cash and due from federally insured financial institutions in this
3-42 state , financial institutions insured by a private insurer approved

4-14 business of any company for the purpose of liquidation or conservation, he

4-15 may liquidate or conserve the company. In such a liquidation or

4-16 conservation the commissioner has the same authority with reference to

4-17 licensees as are vested in the commissioner by Title 55 of NRS with

4-18 reference to banks and in addition may deposit money coming into his

4-19 hands in the course of liquidation in one or more state or national banks [.]

4-23 moneyed corporation, unless that corporation has been designated as a

4-24 depository by a majority vote of the directors or the executive committee,

4-25 exclusive of any director who is an officer, director or trustee of the

4-26 depository so designated. Such a depository must be a federally insured

4-27 financial institution , a financial institution insured by a private insurer

4-31 1. As authorized in this chapter;

4-32 2. In legal investments for banks , credit unions or savings associations;

4-33 or

4-34 3. To the extent of 5 percent or less of its total assets, in preferred stock

4-35 of corporations which have been given a rating of "A" or better by a

4-36 national rating service and which are not in default in the payment of

4-40 1. Adopt a regulation establishing the minimum surety bond required of

4-41 credit unions in relation to the amount of property under their control.

4-42 2. Adopt a regulation that sets forth the records a credit union must

6-19 members of its committees, except that any loan or aggregate of loans to any

6-20 one director or member of a committee which is more than [$10,000]

6-21 $30,000 plus pledged shares must be approved by the board.

6-22 2. A credit union may permit its directors and members of its

6-23 committees to act as guarantor or endorser of loans to other members,

6-24 except that when such a loan standing alone or when added to any

6-25 outstanding loan to the guarantor is more than [$10,000,] $30,000, approval

6-29 1. Securities, obligations, participations or other instruments of or

6-30 issued by or fully guaranteed as to principal and interest by the United

6-31 States of America or any agency thereof or in any trust or trusts established

6-32 for investing directly or collectively in these instruments;

6-33 2. Obligations of this state or any political subdivision thereof [;] ,

6-34 including, without limitation, a city, county or school district;

6-35 3. Certificates of deposit or passbook type accounts issued by a state or

6-36 national bank, mutual savings bank or savings and loan association;

6-37 4. Loans to or shares or deposits of other credit unions as permitted by

6-38 the bylaws;

6-39 5. Capital shares, obligations or preferred stock issues of any agency or

6-40 association organized either as a stock company, mutual association or

6-41 membership corporation if the membership or stockholdings, as the case

6-42 may be, of the agency or association are confined or restricted to credit

7-21 to actions brought to recover money or other property deposited with any

7-22 bank, credit union, banker, trust company or savings and loan society, there

7-26 incorporated under the laws of the State of Nevada or the laws of the United

7-27 States of America, or other personal property held by the bank must be

7-28 garnished by serving a copy of the writ of garnishment on one of the

7-29 following officers of the bank:

7-30 (a) If the bank has no branches, trust department or military facility, on

7-31 the president, vice president, assistant vice president, cashier, assistant

7-32 cashier, manager or other managing officer in charge of the bank owing the

7-33 debts, or having in its possession or under its control the credits or other

7-34 personal property.

7-35 (b) If the bank has branches or military facilities owing the debts or

7-36 having in its possession or under its control the credits or other personal

7-37 property, on the vice president, assistant vice president, assistant cashier,

7-38 manager or other managing officer in charge of the branch or in charge of

7-39 the military facility. Service on that officer or agent constitutes a valid levy

7-40 on any debt, credit or other personal property owing by any branch or

7-41 military facility of the bank.

7-42 (c) If the bank has a trust department owing the debts or having in its

8-21 not constitute doing business in this state:

8-22 (a) Maintaining, defending or settling any proceeding;

8-23 (b) Holding meetings of the board of directors or stockholders or

8-24 carrying on other activities concerning internal corporate affairs;

8-25 (c) Maintaining [bank accounts;] accounts in banks or credit unions;

8-26 (d) Maintaining offices or agencies for the transfer, exchange and

8-27 registration of the corporation’s own securities or maintaining trustees or

8-28 depositaries with respect to those securities;

8-29 (e) Making sales through independent contractors;

8-30 (f) Soliciting or receiving orders outside of this state through or in

8-31 response to letters, circulars, catalogs or other forms of advertising,

8-32 accepting those orders outside of this state and filling them by shipping

8-33 goods into this state;

8-34 (g) Creating or acquiring indebtedness, mortgages and security interests

8-35 in real or personal property;

8-36 (h) Securing or collecting debts or enforcing mortgages and security

8-37 interests in property securing the debts;

8-38 (i) Owning, without more, real or personal property;

8-39 (j) Isolated transactions completed within 30 days and not a part of a

8-40 series of similar transactions;

8-41 (k) The production of motion pictures as defined in NRS 231.020;

8-42 (l) Transacting business as an out-of-state depository institution pursuant

9-12 institution or trust company organized under, or supervised pursuant to, the

9-16 undertaking or other obligation is required, to agree with his surety or

9-17 sureties for the deposit of any [or all moneys] money and assets for which

9-18 he and his surety or sureties are or may be held responsible, with a bank,

9-19 credit union, savings bank, safe-deposit or trust company, authorized by

9-20 law to do business as such, or with [other] another depository approved by

9-21 the court or a judge thereof, if [such] the deposit is otherwise proper, for the

9-22 safekeeping thereof, and in such manner as to prevent the withdrawal of

9-23 [such] the money or assets or any part thereof, without the written consent

9-24 of [such] the surety or sureties, or an order of court or a judge thereof, made

9-25 on such notice to [such] the surety or sureties as [such] the court or judge

9-26 may direct; but [such agreement shall] the agreement does not in any

9-27 manner release from or change the liability of the principal or sureties as

9-31 protection for the State of Nevada, the person required to provide the cash

9-32 payment or surety bond may deposit with the state treasurer, unless a

9-33 different custodian is named by specific statute:

9-34 (a) Bonds of the United States or of the State of Nevada of an actual

9-35 market value of not less than the amount of the required cash payment or

9-36 surety bond;

9-37 (b) A letter of credit from a bank, savings bank , credit union or savings

9-38 and loan association situated in Nevada, which meets the requirements set

9-39 for that purpose by the state treasurer; or

9-40 (c) A savings certificate, certificate of deposit or investment certificate of

9-41 a bank, savings bank , credit union or savings and loan association situated

9-42 in Nevada, which must indicate an account of an amount not less than the

10-11 condominium for the maintenance of the project shall:

10-12 1. Immediately deposit [such moneys] the money in a separate

10-13 custodial account maintained by him with some bank , credit union or

10-14 recognized depositary in this state.

10-18 requirement of a bond of an executor, administrator or successor executor or

10-19 administrator is discretionary with the court. Whether a bond is expressly

10-20 required by the will or not, the court may:

10-21 (a) Require a bond if it determines a bond is desirable; or

10-22 (b) Dispense with the requirement of a bond if it determines a bond is

10-23 unnecessary.

10-24 2. The bond must be conditioned that the executor or administrator will

10-25 faithfully execute the duties of the trust according to law, and the bond must

10-26 be recorded by the clerk.

10-27 3. Personal assets of an estate may be deposited with a domestic

10-28 banking or trust corporation or credit union upon such terms as may be

10-29 prescribed by order of the court having jurisdiction of the estate. The

10-30 deposit is subject to the further order of the court. The bond of the executor

10-31 or administrator may be reduced accordingly.

10-32 4. During the pendency of the administration, any person, including a

10-33 creditor, having an interest in the estate whose value exceeds $10,000 may

10-34 make a written demand that the executor, administrator or any successor

10-35 submit a bond. Upon receipt of the demand, the executor, administrator or

10-36 any successor shall refrain from exercising any powers, except those

10-37 necessary to preserve the estate, until the bond is filed. The executor,

10-38 administrator or any successor is not required to file a bond in an amount

10-39 which is greater than the amount of the claim of the person having an

10-40 interest in the estate. The court may, upon the petition of the executor,

10-41 administrator or any successor, dispense with the requirement of a bond.

10-42 5. The amount of the bond is the estimated value of all personal

11-10 deposit or invest [funds] money of the estate in:

11-11 1. United States treasury notes, bills or bonds;

11-12 2. Negotiable commercial paper, not exceeding 180 days maturity, of

11-13 prime quality as defined by a nationally recognized organization which rates

11-14 such securities;

11-15 3. Bankers’ acceptances;

11-16 4. Savings accounts or certificates of deposit in national banks, banks

11-17 chartered by the State of Nevada, federal credit unions, credit unions

11-18 chartered by the State of Nevada, federal savings and loan associations or

11-19 savings and loan associations chartered by the State of Nevada; or

11-20 5. Any other investment in which an executor or administrator is

11-21 authorized by law or by a will to invest [moneys or funds] money under his

11-25 disinterested appraiser to ascertain the fair market value, as of the

11-26 decedent’s death, of any asset the value of which is subject to reasonable

11-27 doubt. Different persons may be engaged to appraise different kinds of

11-28 assets included in the estate.

11-29 2. Any such appraiser is entitled to a reasonable compensation for his

11-30 appraisal and may be paid the compensation by the executor or

11-31 administrator out of the estate at any time after completion of the appraisal.

11-32 3. Where there is no reasonable doubt as to the value of assets, such as

11-33 money, deposits in banks [,] or credit unions, bonds, policies of life

11-34 insurance or securities for money or evidence of indebtedness, [when the

11-35 same is] which are equal in value to money, the executor or administrator

11-39 estate may:

11-40 (a) Invest the property of the ward, make loans and accept security

11-41 therefor, in the manner and to the extent authorized by the court.

11-42 (b) Exercise options of the ward to purchase or exchange securities or

12-25 mingled the [funds] money of two or more trusts in the same aggregate of

12-26 cash, or in the same bank , credit union or brokerage account or other

12-27 investment, and a withdrawal is made therefrom by the trustee for his own

12-28 benefit, or for the benefit of a third person not a beneficiary or creditor of

12-29 one or more of the trusts, or for an unknown purpose, [such a withdrawal

12-30 shall] the withdrawal must be charged first to the amount of cash, credit, or

12-31 other property of the trustee in the mingled fund, if any, and after the

12-32 exhaustion of the trustee’s cash, credit, or other property, then to the

12-33 [several] trusts in proportion to their [several] interests in the cash, credit, or

12-37 hereby created, and may be used for the payment of bills requiring

12-38 immediate payment and for the issuance of money to assist newly released

12-39 or paroled offenders, and for no other purposes.

12-40 2. The director may deposit the prison revolving account in one or more

13-6 bank , credit union or savings and loan association doing business in this

13-7 state an account for disbursements to offenders. The balance in the account

13-8 must not exceed $600,000. Money in the account may be expended only for

13-9 the payment of transactions involving offenders’ trust funds.

13-10 2. Payments made from the account for disbursements to offenders must

13-11 be promptly reimbursed from money in the appropriate fund on deposit with

13-15 of inmates for safekeeping pending their discharges, and shall deposit any

13-16 such money in a trust fund which he shall establish in a bank , credit union

13-17 or savings and loan association qualified to receive deposits of public

13-18 money. He shall keep a full account of any such money and valuables, and

13-19 shall submit reports to the administrator relative to them as may be required

13-20 from time to time.

13-21 2. The superintendent may transfer the amount of any uncashed check

13-22 issued by the school to an inmate to the youth training center’s gift account

13-23 after 1 year from the date the check was issued. Each check so issued must

13-27 administrator, may establish an inmates’ commissary or store for the benefit

13-28 and use of the inmates. So far as practicable, sales of supplies and materials

13-29 to the inmates must be at cost. The superintendent shall keep, or cause to be

13-30 kept, a record of all transactions of the commissary.

13-31 2. The youth training center commissary fund is hereby created, and

13-32 must be used to purchase supplies and materials for resale to the inmates, to

13-33 provide money for needy inmates, and for other incidentals as may be

13-34 deemed necessary by the superintendent. All money drawn from the fund

13-35 must be repaid wherever possible.

13-36 3. The superintendent shall deposit any money received for the fund in

13-37 insured banks [or in insured] credit unions or savings and loan associations

13-41 210.400 to 210.715, inclusive, [shall] must be provided by legislative

14-10 of inmates for safekeeping pending their discharges, and shall deposit any

14-11 such money in a trust fund which he shall establish in a bank , credit union

14-12 or [in a] savings and loan association qualified to receive deposits of public

14-13 money. The superintendent shall keep a full account of any such money and

14-14 valuables, and shall submit reports to the administrator relative to them as

14-15 may be required from time to time.

14-16 2. The superintendent may transfer the amount of any uncashed check

14-17 issued by the school to an inmate to the Caliente youth center’s gift account

14-18 after 1 year from the date the check was issued. Each check so issued must

14-22 administrator, may establish an inmates’ commissary or store for the benefit

14-23 and use of the inmates. So far as practicable, sales of supplies and materials

14-24 to the inmates must be at cost. The superintendent shall keep, or cause to be

14-25 kept, a record of all transactions of the commissary.

14-26 2. The Caliente youth center commissary fund is hereby created, and

14-27 must be used to purchase supplies and materials for resale to the inmates, to

14-28 provide money for needy inmates, and for such other incidentals as may be

14-29 deemed necessary by the superintendent. All money from the fund must be

14-30 repaid wherever possible.

14-31 3. The superintendent shall deposit any money received for the fund in

14-32 [a bank or in an insured] an insured bank, credit union or savings and loan

14-33 association qualified to receive deposits of public money under the

14-34 provisions of chapter 356 of NRS, and the deposit must be secured by a

14-35 depository bond satisfactory to the state board of examiners.

14-36 4. The superintendent may maintain a small sum as petty cash at the

14-40 training center or the Caliente youth center must be placed in a reputable

14-41 home and in either an educational or work program or both. The chief of the

15-27 valuables in the physical possession of a prisoner at the time he is taken into

15-28 custody. The sheriff shall account separately for all money so accepted and

15-29 deposit the money in a trust fund which he has established in a bank , credit

15-30 union or savings and loan association qualified to receive deposits of public

15-31 money. During the time of the prisoner’s incarceration, the sheriff may also

15-32 accept and deposit in the trust fund money belonging to the prisoner which

15-33 is intended for use by the prisoner to purchase items at the commissary.

15-34 2. The sheriff:

15-35 (a) Shall keep, or cause to be kept, a full and accurate account of the

15-36 money and valuables, and shall submit reports to the board of county

15-37 commissioners relating to the money and valuables as may be required from

15-38 time to time.

15-39 (b) May permit withdrawals for immediate expenditure by a prisoner for

15-40 personal needs, for payment to a person who is not incarcerated in the jail or

15-41 for payment required of a prisoner pursuant to NRS 211.241 to 211.249,

16-10 account in any qualified bank or credit union for the purposes of providing

16-11 advance money and reimbursement to legislators and employees for travel

16-12 expenses, paying the salaries of persons on the payroll of the legislative

16-13 branch of government, related payroll costs and any other expenses directed

16-14 by the legislative commission. The account must be secured by a depository

16-15 bond to the extent the account is not insured by the Federal Deposit

16-16 Insurance Corporation [.] , the National Credit Union Share Insurance

16-17 Fund or a private insurer approved pursuant to NRS 678.755. All checks

16-18 written on this account must be signed by the chairman of the legislative

16-19 commission and the director of the legislative counsel bureau or his

16-20 designee, except that during a regular session of the legislature, the majority

16-21 leader of the senate and the speaker of the assembly shall sign the checks.

16-22 2. A request for advance money for travel constitutes a lien in favor of

16-23 the legislative fund upon the accrued salary, subsistence allowance and

16-24 travel expenses of the legislator or employee in an amount equal to the sum

16-25 advanced.

16-26 3. The legislator or employee is entitled to receive upon request any

16-27 authorized travel expenses in excess of the amount advanced. The legislator

16-28 or employee shall reimburse the legislative fund any amount advanced that

16-32 of attorney general in the sum of $5,000, which must be used for payment of

16-33 expenses related to litigation which are unexpected and require prompt

16-34 payment and for no other purposes.

16-35 2. The attorney general shall deposit the money in the revolving

16-36 account in a bank or credit union qualified to receive deposits of public

16-37 [funds] money as provided by law and the deposit must be secured by a

16-38 depository bond satisfactory to the state board of examiners.

16-39 3. The attorney general or his designee may sign all checks drawn upon

16-40 the revolving account.

16-41 4. Payments made from the revolving account must be promptly

17-5 county commissioners in their respective counties may establish by

17-6 ordinance central receiving and disbursing systems for the handling of

17-7 county money and money held in trust by the county or by any of its elected

17-8 or appointed officers. Such systems may include, but are not limited to, the

17-9 following:

17-10 (a) The commingling of all the money from any source if the accounting

17-11 system employed supplies full information concerning the sources of the

17-12 money.

17-13 (b) The elimination of departmental accounts in an insured bank

17-14 [accounts, or accounts in insured] , credit union or savings and loan

17-15 [associations] association by commingling the money in an account or

17-16 accounts maintained by the county treasurer.

17-17 (c) The elimination of trust [bank] accounts in a bank or credit union,

17-18 created for any reason [whatsoever,] as long as adequate records are

17-19 maintained to identify fully all trust money. The money previously held in

17-20 such trust [bank] accounts may be commingled with other money held in

17-21 [bank] accounts maintained in a bank or credit union by the county

17-22 treasurer.

17-23 (d) The centralization of all disbursing of all money, including trust

17-24 money, if the accounting system employed supplies full information

17-25 concerning the disposition of the money.

17-26 (e) The centralization of part or all of billing and collection aspects of

17-27 business licenses, personal property and any other activity of any of the

17-28 offices of the county that involves billing for services, taxes or fees imposed

17-29 by statute or ordinance, or the collection of money in payment of such

17-30 billings.

17-31 (f) In a county whose population is 100,000 or more, the centralization

17-32 of part or all of the billing and collection aspects of any fine, fee, bail or

17-33 forfeiture imposed by a court and any payment ordered by a court pursuant

17-34 to NRS 178.3975.

17-35 2. Investment income from the commingled money [will] must be

17-36 credited to the general fund of the county if other provisions of law or

17-37 contract do not require other allocation of [such] the investment income.

17-38 3. [Nothing in this section:

17-39 (a) Eliminates] This section does not:

17-40 (a) Eliminate the reporting requirements of various elected and

17-41 appointed officials relating to the receipt and disposition of money.

17-42 (b) [Limits] Limit the right of a local government as defined in NRS

18-6 bonds and special funds from the revenues of the project must be invested

18-7 and reinvested in such securities and other investments, whether or not any

18-8 such investment or reinvestment is authorized under any other law of this

18-9 state, as may be provided in the proceedings under which the bonds are

18-10 authorized to be issued, including, but not limited to:

18-11 (a) Bonds or other obligations of the United States of America.

18-12 (b) Bonds or other obligations, the payment of the principal and interest

18-13 of which is unconditionally guaranteed by the United States of America.

18-14 (c) Obligations issued or guaranteed as to principal and interest by any

18-15 agency or person controlled or supervised by and acting as an

18-16 instrumentality of the United States of America pursuant to authority

18-17 granted by the Congress of the United States of America.

18-18 (d) Obligations issued or guaranteed by any state of the United States of

18-19 America, or any political subdivision of any such state.

18-20 (e) Prime commercial paper.

18-21 (f) Prime finance company paper.

18-22 (g) Bankers’ acceptances drawn on and accepted by commercial banks.

18-23 (h) Repurchase agreements fully secured by obligations issued or

18-24 guaranteed as to principal and interest by the United States of America or by

18-25 any person controlled or supervised by and acting as an instrumentality of

18-26 the United States of America pursuant to authority granted by the Congress

18-27 of the United States of America.

18-28 (i) Certificates of deposit issued by credit unions or commercial banks,

18-29 including banks domiciled outside of the United States of America.

18-30 (j) Money market mutual funds that:

18-31 (1) Are registered with the Securities and Exchange Commission;

18-32 (2) Are rated by a nationally recognized rating service as "AAA" or its

18-33 equivalent; and

18-34 (3) Invest only in securities issued or guaranteed as to payment of

18-35 principal and interest by the Federal Government, or its agencies or

18-36 instrumentalities, or in repurchase agreements that are fully collateralized by

18-37 [such] the securities.

18-38 2. The county may also provide that such proceeds or funds or

18-39 investments and the payments payable under the lease, the agreement of sale

18-40 or the financing agreement must be received, held and disbursed by one or

18-41 more banks , credit unions or trust companies located within or out of this

19-3 officio city treasurer, shall keep all money belonging to the city separate

19-4 from all other money held by him for any other purpose or fund and may,

19-5 when one or more insured banks , credit unions or [insured] savings and

19-6 loan associations are located in the city, deposit, with unanimous consent of

19-7 his bondsmen, city money in such banks , credit unions or savings and loan

19-8 associations in demand or time accounts. When no such banks , credit

19-9 unions or savings and loan associations exist in the city, he may deposit,

19-10 with the unanimous consent of his bondsmen, city money with any insured

19-11 bank, [or any insured] credit union or savings and loan association in the

19-12 State of Nevada in demand or time accounts.

19-13 2. The accounts must be kept in the name of the city in such manner as

19-14 the governing board of the city may prescribe and under such terms and

19-15 conditions for the protection of the money as the governing board may

19-16 determine, not inconsistent with other laws of the State of Nevada regulating

19-17 the deposit of public money.

19-18 3. The balances in banks , credit unions or savings and loan

19-19 associations, as certified to by the proper officer thereof, and by the oath of

19-23 any money under the control of its treasurer in any insured state or national

19-24 bank, [or in any insured] credit union or savings and loan association which

19-28 proceeds from the sale of bonds and special funds from the revenues of the

19-29 project be invested and reinvested in such securities and other investments,

19-30 whether or not any such investment or reinvestment is authorized under any

19-31 other law of this state, as provided in the proceedings under which the

19-32 bonds are authorized to be issued, including , but not limited to:

19-33 (a) Bonds or other obligations of the United States of America.

19-34 (b) Bonds or other obligations, the payment of the principal and interest

19-35 of which is unconditionally guaranteed by the United States of America.

19-36 (c) Obligations issued or guaranteed as to principal and interest by any

19-37 agency or person controlled or supervised by and acting as an

19-38 instrumentality of the United States of America pursuant to authority

19-39 granted by the Congress of the United States of America.

19-40 (d) Obligations issued or guaranteed by any state of the United States of

19-41 America, or any political subdivision of any such state.

19-42 (e) Prime commercial paper.

20-23 in the account must be used by the state treasurer [for the purpose of

20-24 providing] to provide advance money to state officers and employees for

20-25 travel expenses and subsistence allowances.

20-26 2. The state treasurer shall deposit the money in the account in a bank

20-27 or credit union qualified to receive deposits of public [funds,] money, and

20-28 the deposit must be secured by collateral satisfactory to the state board of

20-29 examiners.

20-30 3. The state treasurer or any of his officers or employees whom he has

20-31 designated for [the] this purpose may sign all checks and warrants drawn

20-35 employees’ retirement fund.

20-36 2. It is hereby declared to be the policy of the legislature that the public

20-37 employees’ retirement fund is a trust fund established to afford a degree of

20-38 security to long-time public employees of the state and its political

20-39 subdivisions. The money in the fund must not be used or appropriated for

20-40 any purpose incompatible with the policy of the public employees’

20-41 retirement system, as expressed in NRS 286.015. The fund must be invested

20-42 and administered to assure the highest return consistent with safety in

21-23 board may invest and reinvest the money in its funds as provided in this

21-24 section and NRS 286.682 and may employ investment counsel for that

21-25 purpose. The board may also employ investment supervisory services, trust

21-26 audit services and other related investment services which it deems

21-27 necessary to invest effectively and safeguard the money in the system’s

21-28 funds.

21-29 2. No person engaged in business as a broker or dealer in securities or

21-30 who has a direct pecuniary interest in any such business who receives

21-31 commissions for transactions performed as agent for the board is eligible for

21-32 employment as investment counsel for the board.

21-33 3. The board shall not engage investment counsel unless:

21-34 (a) The principal business of the person selected by the board consists of

21-35 giving continuous advice as to the investment of money on the basis of the

21-36 individual needs of each client;

21-37 (b) The person and his predecessors have been continuously engaged in

21-38 such a business for a period of 5 or more years;

21-39 (c) The person is registered as an investment adviser under the laws of

21-40 the United States as from time to time in effect, or is a bank or an

21-41 investment management subsidiary of a bank; and

21-42 (d) The contract between the board and the investment counsel is of no

22-18 municipal corporation, political subdivision, public corporation or other

22-19 public agency of the State of Nevada may:

22-20 (a) Adopt and carry into effect a system of group life, accident or health

22-21 insurance, or any combination thereof, for the benefit of its officers and

22-22 employees, and the dependents of officers and employees who elect to

22-23 accept the insurance and who, where necessary, have authorized the

22-24 governing body to make deductions from their compensation for the

22-25 payment of premiums on the insurance.

22-26 (b) Purchase group policies of life, accident or health insurance, or any

22-27 combination thereof, for the benefit of such officers and employees, and the

22-28 dependents of such officers and employees, as have authorized the purchase,

22-29 from insurance companies authorized to transact the business of such

22-30 insurance in the State of Nevada, and, where necessary, deduct from the

22-31 compensation of officers and employees the premiums upon insurance and

22-32 pay the deductions upon the premiums.

22-33 (c) Provide group life, accident or health coverage through a self-

22-34 insurance reserve fund and, where necessary, deduct contributions to the

22-35 maintenance of the fund from the compensation of officers and employees

22-36 and pay the deductions into the fund. The money accumulated for this

22-37 purpose through deductions from the compensation of officers and

22-38 employees and contributions of the governing body must be maintained as

22-39 an internal service fund as defined by NRS 354.543. The money must be

22-40 deposited in a state or national bank or credit union authorized to transact

22-41 business in the State of Nevada. Any independent administrator of a fund

22-42 created under this section is subject to the licensing requirements of chapter

23-19 voluntarily acquire any interest, direct or indirect, except as a residential

23-20 tenant, in any housing project or in any property included or planned to be

23-21 included in any housing project, or in any contract or proposed contract in

23-22 connection with any housing project. Where the acquisition is not voluntary,

23-23 the commissioner or employee shall immediately disclose the interest in

23-24 writing to the authority and the disclosure must be entered upon the minutes

23-25 of the authority. Upon disclosure the commissioner or employee shall not

23-26 participate in any action by the authority involving the housing project,

23-27 property or contract. If any commissioner or employee of the authority

23-28 previously owned or controlled an interest, direct or indirect, in any housing

23-29 project or in any property included or planned to be included in any housing

23-30 project, or in any contract or proposed contract in connection with any

23-31 housing project, he shall immediately disclose the interest in writing to the

23-32 authority and the disclosure must be entered upon the minutes of the

23-33 authority. Upon disclosure the commissioner or employee shall not

23-34 participate in any action by the authority involving the housing project,

23-35 property or contract.

23-36 2. Any violation of this section constitutes misconduct in office.

23-37 3. This section is not applicable to the acquisition of any interest in

23-38 notes or bonds of the authority issued in connection with any housing

23-39 project or the execution of agreements by [banking] financial institutions

23-40 for the deposit or handling of [funds] money in connection with a housing

24-3 voluntarily acquire any interest, direct or indirect, except as a residential

24-4 tenant, in any housing project or in any property included or planned to be

24-5 included in any housing project, or in any contract or proposed contract in

24-6 connection with any housing project. Where the acquisition is not voluntary,

24-7 the commissioner or employee shall immediately disclose the interest in

24-8 writing to the authority and the disclosure must be entered upon the minutes

24-9 of the authority. Upon disclosure the commissioner or employee shall not

24-10 participate in any action by the authority involving the housing project,

24-11 property or contract. If any commissioner or employee of the authority

24-12 previously owned or controlled an interest, direct or indirect, in any housing

24-13 project or in any property included or planned to be included in any housing

24-14 project, or in any contract or proposed contract in connection with any

24-15 housing project, he shall immediately disclose the interest in writing to the

24-16 authority and the disclosure must be entered upon the minutes of the

24-17 authority. Upon disclosure the commissioner or employee shall not

24-18 participate in any action by the authority involving the housing project,

24-19 property or contract.

24-20 2. A violation of any provision of this section constitutes malfeasance in

24-21 office.

24-22 3. This section is not applicable to the acquisition of any interest in

24-23 notes or bonds of the authority issued in connection with any housing

24-24 project or the execution of agreements by [banking] financial institutions

24-25 for the deposit or handling of [funds] money in connection with a housing

24-29 1. A state or national bank or trust company [which] that is a member

24-30 of the Federal Deposit Insurance Corporation, including , without limitation

24-31 [any trust bank as herein defined.] , a branch of the Federal Reserve Bank.

24-32 2. A credit union whose deposits are insured by the National Credit

24-33 Union Share Insurance Fund or by a private insurer approved pursuant

24-37 1. A commercial bank as defined in NRS 349.160 [which bank] that is

24-38 authorized to exercise and is exercising trust powers . [and also means any]

24-39 2. A branch of the Federal Reserve Bank.

24-40 3. A credit union whose deposits are insured by the National Credit

24-41 Union Share Insurance Fund or by a private insurer approved pursuant

24-42 to NRS 678.755 that is authorized to exercise and is exercising trust

25-3 reasonable and necessary current expense of the state for the operation,

25-4 maintenance or administration of a project or of the collection and

25-5 administration of revenues from a project. The term includes, among other

25-6 expenses:

25-7 1. Expenses for engineering, auditing, reporting, legal services and

25-8 other expenses of the director which are directly related to the

25-9 administration of projects.

25-10 2. Premiums for fidelity bonds and policies of property and liability

25-11 insurance pertaining to projects, and shares of the premiums of blanket

25-12 bonds and policies which may be reasonably allocated to the state.

25-13 3. Payments to pension, retirement, health insurance and other

25-14 insurance funds.

25-15 4. Reasonable charges made by any paying agent, commercial bank,

25-16 credit union, trust company or other depository bank pertaining to any

25-17 bonds.

25-18 5. Services rendered under the terms of contracts, services of

25-19 professionally qualified persons, salaries, administrative expenses and the

25-20 cost of materials, supplies and labor pertaining to the issuance of any bonds,

25-21 including the expenses of any trustee, receiver or other fiduciary.

25-22 6. Costs incurred in the collection and any refund of revenues from the

25-26 1. Investment and reinvestment of the proceeds from the sale of bonds,

25-27 including, but not limited to:

25-28 (a) Bonds or other obligations of the United States of America.

25-29 (b) Bonds or other obligations, the payment of the principal and interest

25-30 of which is unconditionally guaranteed by the United States of America.

25-31 (c) Obligations issued or guaranteed as to principal and interest by any

25-32 agency or person controlled or supervised by and acting as an

25-33 instrumentality of the United States of America pursuant to authority

25-34 granted by the Congress of the United States of America.

25-35 (d) Obligations issued or guaranteed by any state of the United States of

25-36 America, or any political subdivision of any state.

25-37 (e) Prime commercial paper.

25-38 (f) Prime finance company paper.

25-39 (g) Bankers’ acceptances drawn on and accepted by commercial banks.

25-40 (h) Repurchase agreements fully secured by obligations issued or

25-41 guaranteed as to principal and interest by the United States of America or by

26-18 reasonable and necessary current expense of the state for the operation,

26-19 maintenance or administration of the financing or of the collection and

26-20 administration of revenues from the financing, and includes, but is not

26-21 limited to:

26-22 1. Expenses for engineering, auditing, reporting or legal services and

26-23 any other expense incurred by the director which are directly related to the

26-24 administration of the financing;

26-25 2. Premiums for fidelity bonds and policies of property and liability

26-26 insurance pertaining to the financing;

26-27 3. Premiums for blanket bonds and policies, or any portion of, which

26-28 may be reasonably allocated to the state;

26-29 4. Payments to pension, retirement and health insurance and other

26-30 insurance funds;

26-31 5. Reasonable charges by any paying agent, commercial bank, credit

26-32 union, trust company or other depository bank pertaining to any bonds;

26-33 6. Salaries or fees paid pursuant to any contract for professional

26-34 services;

26-35 7. Cost of materials, supplies and labor pertaining to the issuance of any

26-36 bonds, including the expenses of any trustee, receiver or other fiduciary; and

26-37 8. Costs incurred in the collection and any refund of revenues pursuant

26-41 1. Investment and reinvestment of the proceeds designated for the

26-42 account for venture capital from the sale of bonds, including, but not limited

27-34 reasonable and necessary current expense of the state for the operation,

27-35 maintenance or administration of a water project or of the collection and

27-36 administration of revenues from a water project. The term includes, among

27-37 other expenses:

27-38 1. Expenses for engineering, auditing, reporting, legal services and

27-39 other expenses of the director which are directly related to the

27-40 administration of water projects.

27-41 2. Premiums for fidelity bonds and policies of property and liability

27-42 insurance pertaining to water projects, and shares of the premiums of

28-14 1. A state or national bank or trust company [which] that is a member

28-15 of the Federal Deposit Insurance Corporation, including , without limitation

28-16 [any trust bank as herein defined.] , a branch of the Federal Reserve Bank.

28-17 2. A credit union whose deposits are insured by the National Credit

28-18 Union Share Insurance Fund or by a private insurer approved pursuant

28-22 1. A commercial bank as defined in NRS 350.512 [which bank] that is

28-23 authorized to exercise and is exercising trust powers . [and also means any]

28-24 2. A branch of the Federal Reserve Bank.

28-25 3. A credit union whose deposits are insured by the National Credit

28-26 Union Share Insurance Fund or by a private insurer approved pursuant

28-27 to NRS 678.755 that is authorized to exercise and is exercising trust

28-31 of the cost of any lending project, including any incidental cost pertaining to

28-32 such a project. The cost of a lending project may include, without limitation,

28-33 the costs of:

28-34 1. Surveys, audits, preliminary plans, other plans, specifications,

28-35 estimates and other costs of preparations.

28-36 2. Appraising, printing, estimating, advice, services of engineers,

28-37 architects, financial consultants, attorneys, clerical personnel and other

28-38 agents and employees.

28-39 3. Publishing, posting, mailing and otherwise giving notice, filing or

28-40 recording instruments, taking options and fees to banks [.] and credit

28-41 unions.

29-12 reasonable and necessary current expense of the state for the operation,

29-13 maintenance or administration of a lending project or of the collection and

29-14 administration of revenues therefrom. The term includes, without limitation:

29-15 1. Expenses for engineering, auditing, reporting, legal services and

29-16 other expenses of the state treasurer which are directly related to the

29-17 administration of lending projects.

29-18 2. Premiums for fidelity bonds and policies of property and liability

29-19 insurance pertaining to lending projects, and shares of the premiums of

29-20 blanket bonds and policies which may be reasonably allocated to lending

29-21 projects.

29-22 3. Payments to pension, retirement, health insurance and other

29-23 insurance funds.

29-24 4. Reasonable charges made by any paying agent, commercial bank,

29-25 credit union, trust company or other depository bank pertaining to any state

29-26 securities.