Nevada Revised Statutes 287.365 – Use of money withdrawn or appropriated from Program; deposit of certain money withdrawn from Program in deferred compensation account
Current as of: 2023 | Check for updates
|
Other versions
1. No money may be withdrawn or appropriated from the Program, except:
Terms Used In Nevada Revised Statutes 287.365
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
(a) For payment to a participant or beneficiary of a participant pursuant to the terms of the Program;
(b) In the amount required to pay the necessary expenses of administering the Program;
(c) As specifically authorized by federal law or regulation or by a special act of the Legislature; or
(d) To compensate the member of the Committee appointed pursuant to paragraph (c) of subsection 1 of NRS 287.325.
2. All money withdrawn from the Program pursuant to paragraphs (b) and (d) of subsection 1 must be deposited in the State General Fund for credit to the deferred compensation account created pursuant to subsection 2 of NRS 287.330.