Nevada § 408.151 Loans from financial institutions; limitations

Nevada Statutes

§ 408.151 — Loans from financial institutions; limitations

Nevada § 408.151

Title 35HIGHWAYS; ROADS; BRIDGES; PARKS; OUTDOOR

Ch. 408Highways,

Board of Directors

This text of Nevada § 408.151 (Loans from financial institutions; limitations) 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. § 408.151 (2026).

Text

1.Whenever the Legislature is not in session, the Board may borrow, with the approval of the State Board of Examiners, money from financial institutions for short periods to carry out the responsibilities of the Department.

2.To secure short-term financing, the Board may pledge only revenue which it anticipates the Department will receive.

3.The lending institution has no claim against the State, and may recover from the Director under the loan agreement only to the extent that the revenues pledged as security for the loan become available.

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1. Whenever the Legislature is not in session, the Board may borrow, with the approval of the State Board of Examiners, money from financial institutions for short periods to carry out the responsibilities of the Department.
2. To secure short-term financing, the Board may pledge only revenue which it anticipates the Department will receive.
3. The lending institution has no claim against the State, and may recover from the Director under the loan agreement only to the extent that the revenues pledged as security for the loan become available.