Nevada Revised Statutes 356.087 – Interest to be deposited in State General Fund; exceptions
1. Except as provided in subsections 2, 3 and 4 or in a specific statute, all interest paid on money belonging to this State must be deposited in the State General Fund.
Terms Used In Nevada Revised Statutes 356.087
- Bequest: Property gifted by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Statute: A law passed by a legislature.
2. Interest earned and received on any gift or bequest to an agency of the State must be credited to the agency unless the gift or bequest provides otherwise. An agency, when depositing a gift or bequest, shall notify the State Treasurer whether it is a gift or bequest which entitles the agency to the interest earned.
3. For each fund or account which by specific statute is credited with the interest earned on money deposited in it, the State Treasurer shall determine the proportionate share of interest and income earned by it and credit that amount to it.
4. The State Treasurer shall pay the interest due to any contractor pursuant to NRS 338.515.