§ 355.210 — Conditions and requirements for investment

Nevada § 355.210

• Jurisdiction: Nevada
• Title 31: PUBLIC FINANCIAL ADMINISTRATION
• Ch. 355: Public

Text

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, payment out of the deposit will not be required for 90 days or more, the clerk or the judge, as the case may be, may invest the money so deposited, either alone or by commingling it with other money deposited.
2. If money has been deposited in any court pursuant to chapter 37 of NRS, the money must be kept in a separate account and invested.
3. The investment may be made:
(a) By deposit at interest in a state or national bank or credit union in the State of Nevada; or
(b) In bills, bonds, debentures, notes or other securities whose purchase by a board of county commissioners is authorized by NRS 355.170 .
4. Except as otherwise provided in NRS 37.280 , the interest earned from any investment of money pursuant to this section must be deposited to the credit of the general fund of the political subdivision or municipality which supports the court.
5. The requirements of this section may be modified by an ordinance adopted pursuant to the provisions of NRS 244.207 , except the requirements of subsection 2.

Legislative History

(Added to NRS by 1971, 657 ; A 1973, 1684 ; 1999, 1485 ; 2007, 752 )