Nevada Revised Statutes 432.016 – Nevada Children’s Gift Account
1. All gifts of money that the Division is authorized to accept must be deposited in the Nevada Children’s Gift Account in the Department of Health and Human Services’ Gift Fund.
Terms Used In Nevada Revised Statutes 432.016
- Administrator: means the Administrator of the Division. See Nevada Revised Statutes 432.010
- Department: means the Department of Health and Human Services. See Nevada Revised Statutes 432.010
- Division: means the Division of Child and Family Services of the Department. See Nevada Revised Statutes 432.010
- 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.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
2. Money in the Gift Account may be used to benefit the children to whom shelter and care is provided by the Division. Each gift must be expended in accordance with the terms of the gift.
3. The interest and income earned on the money in the Nevada Children’s Gift Account, after deducting any applicable charges, must be credited to the Gift Account.
4. The Division may transfer each fiscal year from the Nevada Children’s Gift Account to the Nevada Children’s Gift Revolving Account created pursuant to NRS 432.0165 an amount not to exceed the amount of interest and income earned for that fiscal year on the money in the Nevada Children’s Gift Account.
5. Each claim against the Nevada Children’s Gift Account must be approved by the Administrator or the designee of the Administrator before it is paid.