Nevada Revised Statutes 318A.240 – Trustees not to be interested in sales or purchases; contracts void; penalties
Current as of: 2022 | Check for updates
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1. No trustee may be interested, directly or indirectly, in any property purchased for the use of the district, or in any purchase or sale of property belonging to the district.
Attorney's Note
Under the Nevada Revised Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| gross misdemeanor | up to 364 days | up to $2,000 |
Terms Used In Nevada Revised Statutes 318A.240
- Contract: A legal written agreement that becomes binding when signed.
- Trustee: means a member of a board of trustees. See Nevada Revised Statutes 318A.030
- Trustee: A person or institution holding and administering property in trust.
2. Any contract made in violation of the provisions of subsection 1 may be declared void.
3. A trustee who violates the provisions of subsection 1 is guilty of a gross misdemeanor and shall be further punished as provided in NRS 197.230.