1. The Nevada Higher Education Prepaid Tuition Trust Fund is hereby created within the State Treasury to allow: (a) The cost of tuition to be paid in advance of enrollment at an institution of higher education; and (b) The payment of qualified higher education expenses for qualified beneficiaries in accordance with the policy adopted pursuant […]
1. The Board shall adopt and, as necessary, revise a policy for the use of any money in the Trust Fund that is in excess of the amount of money determined by the Board to be required to establish a guaranteed rate for tuition under a prepaid tuition contract. 2. In adopting and revising the […]
1. The State Treasurer shall administer the Trust Fund. 2. As Administrator of the Trust Fund, the State Treasurer: (a) Shall maintain the financial records of the Trust Fund; (b) Shall invest the property in the Trust Fund pursuant to the policies for investment established by the Board pursuant to NRS 353B.160; (c) Shall manage […]
1. The Board shall actively promote and market use of the Trust Fund. 2. The Board shall, before it enters into a prepaid tuition contract with a purchaser, solicit the opinion of: (a) The Securities and Exchange Commission regarding the application of federal law regarding securities to the Trust Fund; or (b) An independent legal […]
1. The Board shall create a comprehensive plan that specifies the policies for investment which the State Treasurer shall follow in administrating the Trust Fund. 2. The Board may authorize the State Treasurer to invest the property of the Trust Fund in: (a) A bond, note, certificate or other general obligation of the State of […]
The Board shall: 1. Prepare an annual report setting forth in appropriate detail an accounting of the Trust Fund and a description of the financial condition of the Trust Fund at the close of each fiscal year, including, without limitation, a statement of projected receipts, disbursements and operating costs of the Trust Fund. 2. Submit […]
The Board shall contract with a certified public accounting firm to perform an annual audit of the accounts and records of the State Treasurer and the Board showing the receipts to and disbursements from the Trust Fund. The cost of the audit must be borne by the Trust Fund. The State Treasurer shall make available […]
The Board shall contract with a certified actuary to perform an annual actuarial study, the cost of which must be borne by the Trust Fund. The State Treasurer shall make available for inspection all records necessary to perform the actuarial study. (Added to NRS by 1997, 3488; A 2001, 2166)
