NRS 164.655 – “Institutional fund” defined.
“Institutional fund” means a fund held by an institution exclusively for charitable purposes. The term does not include: 1. Program-related assets; 2. A fund held for an institution by a trustee that is not an institution; or 3. A fund in which a beneficiary that is not an institution has an interest, other than an […]
NRS 164.640 – Short title.
The provisions of NRS 164.640 to 164.680, inclusive, may be cited as the Uniform Prudent Management of Institutional Funds Act. (Added to NRS by 2007, 112)
NRS 164.643 – Definitions.
As used in NRS 164.640 to 164.680, inclusive, unless the context otherwise requires, the words and terms defined in NRS 164.645 to 164.663, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2007, 112)
NRS 164.645 – “Charitable purpose” defined.
“Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose or any other purpose the achievement of which is beneficial to the community. (Added to NRS by 2007, 112)
NRS 164.647 – “Endowment fund” defined.
“Endowment fund” means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment fund for its own use. (Added to NRS by 2007, 112)
NRS 164.650 – “Gift instrument” defined.
“Gift instrument” means a record or records, including, without limitation, an institutional solicitation, under which property is granted to, transferred to or held by an institution as an institutional fund. (Added to NRS by 2007, 112)
NRS 164.653 – “Institution” defined.
“Institution” means: 1. A person, other than an individual, organized and operated exclusively for charitable purposes; 2. A government or governmental subdivision, agency or instrumentality, to the extent that it holds funds exclusively for a charitable purpose; and 3. A trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated. (Added […]