Nevada Revised Statutes 353D.360 – Nevada Employee Savings Trust Administrative Fund: Creation; administration; deposit of money received for Program; use. [Effective July 1, 2025.]
1. The Nevada Employee Savings Trust Administrative Fund is hereby created in the State Treasury.
Terms Used In Nevada Revised Statutes 353D.360
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. The Board shall administer the Administrative Fund.
3. The Board shall deposit in the Administrative Fund all money received for the Program, including, without limitation:
(a) Money appropriated to the Administrative Fund by the Legislature;
(b) Money transferred to the Administrative Fund from the Federal Government, other state agencies or local governments;
(c) Any gifts, donations, grants or other money designated for the Administrative Fund from the State, or any unit of federal or local government, or any other person, firm, partnership, corporation or other entity solely for deposit into the Administrative Fund, whether for investment or administrative expenses; and
(d) Earnings on money in the Administrative Fund.
4. The Board shall use the money in the Administrative Fund solely to pay the administrative costs and expenses of the Program and the administrative costs and expenses the Board incurs in the performance of its duties.