1. If the Advisory Committee on Financing Exports is created, it shall meet when requested by the Director and at such other times as its Chair may designate. 2. A majority of the members of the Committee constitutes a quorum. 3. The members of the Committee shall elect a Chair and a Secretary. 4. The […]
1. If the Advisory Committee on Financing Exports is created, it has only the powers and duties authorized by law. 2. If created, the Committee shall review and make recommendations to the Director concerning: (a) Any regulations proposed by the Director to carry out the program; (b) The findings of the Director pursuant to NRS […]
The Director shall, before the issuance of any bonds, adopt regulations for the operation of the program, which must include provisions concerning the following: 1. The maximum aggregate amount of guaranteed funding available to any exporter and the maximum amount of guaranteed funding available for any transaction eligible for guaranteed funding; 2. The limits on […]
In the absence of fraud, malice or willful misconduct, the Director or any person acting on his or her behalf is not personally liable on any contracts or other agreements entered into by him or her pursuant to the program or for any damage or injury resulting from the performance of his or her duties. […]
1. Subject to the limitations imposed by subsection 2, the Director may, if he or she finds it feasible, issue revenue bonds to the extent necessary to provide sufficient money for guaranteed funding, pay the interest on the bonds until the proceeds are so used, procure insurance, create reserves to cover guarantees he or she […]
1. All bonds issued by the Director are special, limited obligations of the State. The principal of, the interest on, and premiums, if any, due in connection with the bonds issued are payable from, secured by a pledge of and constitute a lien, subject to the provisions of NRS 349.700 to 349.870, inclusive, for their […]
1. The bonds must be authorized by an order of the Director, and must: (a) Be in the denominations; (b) Bear the date or dates; (c) Mature at the time or times; (d) Bear interest at a specified rate or rates; (e) Be in the form; (f) Carry the registration privileges; (g) Be executed in […]
The Director, subject to such agreements with holders of bonds as may then exist, may, out of any money available therefor, purchase the bonds at a price not exceeding: 1. The redemption price then applicable plus accrued interest to the date of the next interest payment thereon if the bonds are then redeemable; or 2. […]
1. Any bonds issued may be refunded by the Director by the issuance of refunding bonds in an amount which the Director considers necessary to refund the principal of the bonds to be refunded, any unpaid interest thereon and any premiums and incidental expenses necessary to be paid in connection with refunding. 2. Refunding may […]
The bonds are legal investments in which all public officers and public bodies of the State, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, savings and loan associations, savings banks and trust companies, all administrators, guardians, executors, trustees and other […]
The Director may: 1. Establish such funds or accounts as may be necessary or desirable for carrying out the provisions of NRS 349.700 to 349.870, inclusive. 2. Subject to any agreement with the holders of the bonds, invest or deposit any money received or held by the Director pursuant to NRS 349.700 to 349.870, inclusive. […]
1. The Director may lend any securities in which he or she invests pursuant to NRS 349.855 if he or she receives collateral from the borrower in the form of cash or marketable securities that are: (a) Acceptable to the Director; and (b) At least 102 percent of the value of the securities borrowed. 2. […]
The Director may use money from the fund for financing exports to: 1. Insure against the program’s risk of loss resulting from the failure of the exporter to repay the loan provided by a participating financial institution; and 2. Purchase insurance to secure the payment of the principal of, interest on, and premium, if any, […]
The faith of the State is hereby pledged that NRS 349.700 to 349.870, inclusive, will not be repealed, amended or modified to impair any outstanding bonds or any revenues pledged to their payment or to limit or alter the rights or powers vested in the Director to fulfill the terms of any agreements made with […]
1. The provisions of NRS 349.700 to 349.870, inclusive, without reference to other statutes of the State, constitute full authority for the exercise of powers granted in those sections, including but not limited to the authorization and issuance of bonds. 2. No other act or law with regard to the authorization or issuance of bonds […]
