Title 31

NRS 355.040 Records. The State Board of Finance shall keep a permanent record of all its meetings, in which record shall be: 1. Recorded the aye and nay vote of the members of the Board upon all questions presented to the Board. 2. Kept all opinions of the Attorney General as req…

NRS 355.045 General duties. The State Board of Finance shall review and approve or disapprove the policies established by the State Treasurer for investment of money of the State and of money in the Local Government Pooled Investment Fund. The Board shall review both sets of poli…

NRS 355.050 State Treasurer charged with investment of money in Fund. The State Treasurer shall have charge of all the investments of money and the sale of all securities of the State Permanent School Fund. [Part 1:212:1917; A 1919, 284; 1919 RL p. 3146; NCL § 6962]—(NRS A 1979, …

NRS 355.060 Monthly notification of amount of uninvested money; authorized and prohibited investments. 1. The State Controller shall notify the State Treasurer monthly of the amount of uninvested money in the State Permanent School Fund. 2. Whenever there is a sufficient amount o…

NRS 355.070 Determinations to be made before investment; opinion of Attorney General. 1. Except as otherwise provided in subsection 3, the State Treasurer shall: (a) Make diligent inquiry as to the financial standing and responsibility of any state, county or person in whose bond…

NRS 355.080 Restrictions on investment in county bonds. No part of the State Permanent School Fund may be invested in the bonds of any county whose entire bonded indebtedness for all purposes exceeds 10 percent of its assessed valuation; and the amount of bonds of any county purc…

NRS 355.090 Conversion of bonds or securities into cash; reinvestment. The State Treasurer may convert into cash any of the bonds or securities in which any part of the State Permanent School Fund is invested by selling them in the open market to the highest bidder or bidders, th…

NRS 355.100 Loans on agricultural lands: Abstract; appraisal. 1. Any person desiring to obtain a loan from the State Permanent School Fund on agricultural land shall: (a) Make written application to the State Board of Finance; and (b) At the same time, furnish to the State Board …

NRS 355.110 Loans on agricultural lands: Execution and recording of note and mortgage; provisions. 1. If the abstract is approved by the Attorney General and the title is in accordance with the requirements of NRS 355.100, and the written report of the appraiser or appraisers is …

NRS 355.120 Investment in farm mortgage loans, farm loan bonds and other obligations issued by federal land banks and banks for cooperatives; limitations. The State Treasurer may invest any available money in the State Treasury, other than that in the State Permanent School Fund …

NRS 355.130 Loans to local governments. 1. By unanimous vote of its members and with the approval of the State Board of Examiners, the State Board of Finance may lend any available money in the State Treasury, other than that in the State Permanent School Fund and the State Insur…

NRS 355.135 Lending of securities from state investment portfolio. The State Treasurer may lend securities from the investment portfolio of this state if he or she receives collateral from the borrower which represents at least 102 percent of the value of the securities borrowed.…

NRS 355.140 Authorized and prohibited investments of state money. 1. In addition to other investments provided for by a specific statute, the following bonds and other securities are proper and lawful investments of any of the money of this state, of its various departments, inst…

NRS 355.145 Standard of care for investments made pursuant to NRS 355.140. In investing pursuant to NRS 355.140, the State Treasurer shall exercise the judgment and care, under the circumstances then prevailing, which a person of prudence, discretion and intelligence exercises in…

NRS 355.150 Determinations to be made before investment; opinion of Attorney General. 1. Before making any investment in the bonds and other securities designated in NRS 355.140, the State Board of Finance, or other board, commission or agency of the State contemplating the makin…

NRS 355.160 Purpose of NRS 355.140 and 355.150. Except as otherwise provided in NRS 355.140 and 355.150, the State Board of Finance, State Board of Education or other state agency shall proceed in the same manner as the law relating to each of them requires in the making of such …

NRS 355.165 Local Government Pooled Long-Term Investment Account: Creation; administration; applicability of NRS 355.167; permissible investments; assessment of costs; computation of interest; establishment of subaccounts. 1. The Local Government Pooled Long-Term Investment Accou…

NRS 355.167 Local Government Pooled Investment Fund: Creation; administration; permissible investments; permissible loans; written request for withdrawal by local government; interest; regulations. 1. The Local Government Pooled Investment Fund is hereby created as an agency fund…

NRS 355.168 Pooling of money of local governments within county for investment. 1. Except as otherwise provided in this section or by statute or contract regarding money from a particular source, the county treasurer of any county may pool, for purposes of investment, any money h…

NRS 355.169 Legal action by county to recover investment; expenses. 1. If an investment of the money of a county or other local government is made by the county treasurer, whether separately or through a pooling arrangement as provided in NRS 355.168, the county may, on behalf of…

NRS 355.170 Authorized investments; disposition of interest. 1. Except as otherwise provided in this section and NRS 354.750 and 355.171, the governing body of a local government or an administrative entity established pursuant to NRS 277.080 to 277.180, inclusive, that is not a …

NRS 355.171 Additional authorized investments; exceptions. 1. Except as otherwise provided in this section, the governing body of a local government or an administrative entity established pursuant to NRS 277.080 to 277.180, inclusive, that is not a local government may purchase …

NRS 355.172 Possession of securities purchased by or for local government; security interest in lieu of possession. 1. Except as otherwise provided in NRS 355.178, any securities purchased as an investment of money by or on behalf of a local government, as defined in NRS 354.474,…

NRS 355.175 Authority for investments; priority in case of conflicting orders concerning same money; disposition of interest. 1. The governing body of any local government or agency, whether or not it is included in the provisions of chapter 354 of NRS, may: (a) Direct its treasu…

NRS 355.176 Investment of money held by local government pursuant to deferred compensation plan. Any money held by a local government pursuant to a deferred compensation plan may be invested in the types of investments set forth in paragraphs (a) to (h), inclusive, of subsection …

NRS 355.177 Investment in own securities or interim warrants prohibited. No governing body of any local government or agency, as defined in NRS 354.474, may invest any of its moneys, or any part thereof, in: 1. Its own securities of any kind. 2. Interim warrants from any source. …

NRS 355.178 Loans from investment portfolios of certain counties, cities or consolidated municipalities. 1. The governing body of a city whose population is 220,000 or more or a county whose population is 100,000 or more may lend securities from its investment portfolio if: (a) T…

NRS 355.180 Bonds of Home Owners’ Loan Corporation and Federal Home Loan Bank are legal investments. It shall be legal for this state and any of its departments or political subdivisions, or any political or public corporation, or any instrumentality of the State to invest their …

NRS 355.190 Loans and advances of credit by Federal Housing Administrator. 1. Subject to such regulations as may be prescribed by the Federal Housing Administrator, the State of Nevada and any city or county or instrumentality thereof are authorized: (a) To make such loans and ad…

NRS 355.200 Depositary bonds. 1. Whenever by the terms of any general or special law depositaries of public or other funds are required by law to give security therefor, the bonds of any Federal Home Loan Bank or the bonds of the Home Owners’ Loan Corporation, or consolidated Fed…

NRS 355.210 Conditions and requirements for investment. 1. Except as otherwise provided in subsection 2, when any money has been deposited in any court pursuant to law or rule of court, and when in the judgment of the clerk of the court, or the judge thereof if there is no clerk,…

NRS 355.220 Retirement Benefits Investment Board: Creation; membership; powers and duties. 1. The Retirement Benefits Investment Board is hereby created. The membership of the Board consists of the members of the Public Employees’ Retirement Board, who shall serve in that capacit…

NRS 355.250 Definitions. As used in NRS 355.250 to 355.285, inclusive, unless the context otherwise requires, the words and terms defined in NRS 355.255, 355.260 and 355.265 have the meanings ascribed to them in those sections. (Added to NRS by 2011, 2581)

NRS 355.255 “Corporation for public benefit” defined. “Corporation for public benefit” means a corporation that is recognized as exempt pursuant to section 501(c)(3) of the Internal Revenue Code of 1986, future amendments to that section and the corresponding provisions of future…

NRS 355.260 “Private equity funding” defined. “Private equity funding” means an investment in or a purchase of securities in operating businesses that are not publicly traded on a stock exchange. (Added to NRS by 2011, 2581)

NRS 355.265 “Venture capital” defined. “Venture capital” means equity, near-equity and seed capital financing, including, without limitation, early stage research and development capital for start-up enterprises, and other equity, near-equity or seed capital for growth and expans…

NRS 355.270 Corporation for public benefit: Formation and purpose; composition, chair, compensation and duties of board of directors. 1. The State Treasurer shall cause to be formed in this State an independent corporation for public benefit, the general purpose of which is to ac…

NRS 355.275 Corporation for public benefit: Placement of investments; use of money received from State Permanent School Fund. 1. The corporation for public benefit may place investments through the use or assistance of: (a) External asset managers; or (b) Private equity investmen…

NRS 355.280 Transfer of money from State Permanent School Fund to corporation for public benefit: Prerequisites; maximum amount. If the State Treasurer obtains the judicial determination required by subsection 3 of NRS 355.060, the State Treasurer may transfer an amount not to ex…

NRS 355.285 State Treasurer: Regulations; authority to establish Business Leadership Council; duties. The State Treasurer: 1. May adopt such regulations as he or she deems necessary to carry out the provisions of NRS 355.250 to 355.285, inclusive. 2. Shall adopt regulations: (a) …

NRS 355.300 Definitions. As used in NRS 355.300 to 355.350, inclusive, unless the context otherwise requires, the words and terms defined in NRS 355.305 to 355.330, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2017, 1614)

NRS 355.305 “Boycott of Israel” defined. 1. “Boycott of Israel” means, except as otherwise provided in subsection 2, refusing to deal or conduct business with, abstaining from dealing or conducting business with, terminating business or business activities with or performing any …

NRS 355.310 “Company” defined. “Company” means any domestic or foreign sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnership, limited-liability partnership, limited-liability company, or other domestic or foreign entity or bu…

NRS 355.315 “Direct holdings” defined. “Direct holdings” means all publicly traded equity securities of a company that are held directly by the public fund or in an account or fund in which the public fund owns all shares or interests. (Added to NRS by 2017, 1614)

NRS 355.320 “Indirect holdings” defined. “Indirect holdings” means all publicly traded securities of a company that are held by the State Treasurer in an account or fund which is managed by one or more persons who are not employed by the State Treasurer and in which the public fu…

NRS 355.325 “Public fund” defined. “Public fund” means a trust fund administered by the State Treasurer. (Added to NRS by 2017, 1614)