Nevada § 354.6215 Limitation on use of reserves or balances of funds created to insure risks

Nevada Statutes

§ 354.6215 — Limitation on use of reserves or balances of funds created to insure risks

Nevada § 354.6215

Title 31PUBLIC FINANCIAL ADMINISTRATION

Ch. 354Local

BUDGETS OF LOCAL GOVERNMENTS

This text of Nevada § 354.6215 (Limitation on use of reserves or balances of funds created to insure risks) 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. § 354.6215 (2026).

Text

Except as otherwise provided in NRS 354.6241, if a local government provides a fund for self-insurance of property, for any form of insurance for the benefit of its employees, or for any other risk that it is permitted by law to assume, the reserves or balance of a fund thus provided must not be expended for any purpose other than that for which the fund was established, except that when the governing body deems the reserve or balance to be no longer required, either in whole or in part, it shall transfer the excess balance to the general fund of the local government. Any such transfer must be reported to the Department of Taxation within 30 days. Money so transferred is not available as a basis for augmentation of the local government’s budget during the year of transfer.

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Except as otherwise provided in NRS 354.6241, if a local government provides a fund for self-insurance of property, for any form of insurance for the benefit of its employees, or for any other risk that it is permitted by law to assume, the reserves or balance of a fund thus provided must not be expended for any purpose other than that for which the fund was established, except that when the governing body deems the reserve or balance to be no longer required, either in whole or in part, it shall transfer the excess balance to the general fund of the local government. Any such transfer must be reported to the Department of Taxation within 30 days. Money so transferred is not available as a basis for augmentation of the local government’s budget during the year of transfer.