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Home » US Law » 2022 Nevada Revised Statutes » TITLE 31—PUBLIC FINANCIAL ADMINISTRATION » Chapter 353B - College Savings Programs » Nevada Higher Education Prepaid Tuition Trust Fund » NRS 353B.155 – Duty of Board to promote and market use of Trust Fund and solicit certain opinions; authority to limit qualified beneficiaries.

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 counsel to ensure that the method of structuring and offering the Trust Fund is in compliance with federal law regarding securities.

3. The Board may:

(a) Require a reasonable length of residence in the State to become a qualified beneficiary.

(b) Restrict the number of qualified beneficiaries.

(Added to NRS by 1997, 3485; A 2001, 2166)