Nevada Revised Statutes 396.940 – Establishment of account within Trust Fund to provide Kenny C. Guinn Memorial Millennium Scholarships; acceptance of gifts and grants; deposit and investment of money in account
1. There is hereby established within the Trust Fund an account to provide Memorial Scholarships to students.
Terms Used In Nevada Revised Statutes 396.940
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
2. The State Treasurer may accept gifts, grants, bequests and donations for deposit in the account.
3. The State Treasurer shall deposit in the account any gifts, grants, bequests or donations specifically designated for the account or for the Kenny C. Guinn Memorial Millennium Scholarship Fund, a special memorial fund established following the death of Governor Kenny C. Guinn on July 22, 2010.
4. The money in the account must be invested as the other money in the Trust Fund is invested. The interest and income earned on the money in the account, after deducting any applicable charges, must be credited to the account. All claims against the account must be paid as other claims against the State are paid.
5. The money in the account remains in the account and does not revert to the Trust Fund or any other fund at the end of any fiscal year.