Nevada § 287.0435 Creation; investment; disbursements; administration by State Treasurer; checking account for payment of claims

Nevada Statutes

§ 287.0435 — Creation; investment; disbursements; administration by State Treasurer; checking account for payment of claims

Nevada § 287.0435

Title 23PUBLIC OFFICERS AND EMPLOYEES

Ch. 287Programs

Fund for the Public Employees’ Benefits Program

This text of Nevada § 287.0435 (Creation; investment; disbursements; administration by State Treasurer; checking account for payment of claims) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 287.0435 (2026).

Text

1.Except as otherwise provided in subsection 4 of NRS 287.04362 and subsection 7 of NRS 287.044 , all money received for the Program, including, without limitation, money transferred from the Active Employee Group Insurance Subsidy Account established in NRS 287.044 , must be deposited in the State Treasury for credit to the Fund for the Public Employees’ Benefits Program which is hereby created as a trust fund. The Program Fund must be accounted for as an internal service fund. Payments into and disbursements from the Program Fund must be so arranged as to keep the Program Fund solvent at all times.

2.The money in the Program Fund must be invested as other money of the State is invested and any income from investments paid into the Program Fund for the benefit of the Program Fund.

3.Di

Free access — add to your briefcase to read the full text and ask questions with AI

1. Except as otherwise provided in subsection 4 of NRS 287.04362 and subsection 7 of NRS 287.044 , all money received for the Program, including, without limitation, money transferred from the Active Employee Group Insurance Subsidy Account established in NRS 287.044 , must be deposited in the State Treasury for credit to the Fund for the Public Employees’ Benefits Program which is hereby created as a trust fund. The Program Fund must be accounted for as an internal service fund. Payments into and disbursements from the Program Fund must be so arranged as to keep the Program Fund solvent at all times.
2. The money in the Program Fund must be invested as other money of the State is invested and any income from investments paid into the Program Fund for the benefit of the Program Fund.
3. Disbursements from the Program Fund must be made as any other claims against the State are paid and may only be made for the benefit of the participants in the Program.
4. The State Treasurer may charge a reasonable fee for the State Treasurer’s services in administering the Program Fund, but the State, the State General Fund and the State Treasurer are not liable to the Program Fund for any loss sustained by the Program Fund as a result of any investment made on behalf of the Program Fund or any loss sustained in the operation of the Program.
5. The Board shall deposit any disbursement received from the Program Fund into an interest-bearing checking account in a bank or credit union qualified to receive deposits of public money. Claims that have been submitted to the Program and approved must be paid from the account, and any refund of such a claim must be deposited into the account.