Nev. Admin. Code § 695D.250 - Investment of money
1. An organization
may invest its money only in cash, cash equivalents or the securities described
in NRS
682A.033.
2. Any investment made by an organization:
(a) Must be authorized or ratified by its
board of directors or by a committee charged with the supervision of such
investments;
(b) Must be
interest-bearing, interest-accruing, entitled to dividends or otherwise produce
income;
(c) Must not be in default
in any respect;
(d) Must not be
purchased at a price above its fair or market value; and
(e) Must comply with the provisions of
NRS
682A.402, to the extent those provisions are
applicable.
3. An
organization may receive for its use and benefit the interest or other income
accruing on its investments.
Notes
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