Nevada Revised Statutes 432.037 – Creation of Trust Fund for Child Welfare; duties of Division; deposit of money in trust fund for child welfare established in county treasury in certain counties and disbursement from fund
1. The Trust Fund for Child Welfare is hereby created. All benefits for survivors or other awards payable to children receiving child welfare services pursuant to NRS 432.010 to 432.085, inclusive, in a county whose population is less than 100,000 must be deposited in the State Treasury for credit to the Fund.
Terms Used In Nevada Revised Statutes 432.037
- Agency which provides child welfare services: has the meaning ascribed to it in NRS 432B. See Nevada Revised Statutes 432.010
- Child: means a person who is less than 18 years of age or who remains under the jurisdiction of a court pursuant to NRS 432B. See Nevada Revised Statutes 432.010
- county: includes Carson City. See Nevada Revised Statutes 0.033
- Division: means the Division of Child and Family Services of the Department. See Nevada Revised Statutes 432.010
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- population: means the number of people in a specified area as determined by the last preceding national decennial census conducted by the Bureau of the Census of the United States Department of Commerce pursuant to Section 2 of Article I of the Constitution of the United States and reported by the Secretary of Commerce to the Governor pursuant to 13 U. See Nevada Revised Statutes 0.050
2. The Division shall:
(a) Keep a separate account for each child who receives money.
(b) Deduct from the account any services to the child provided by public money. Any surplus remaining may be expended for extraordinary items deemed beneficial to the child.
(c) Remit any surplus balance to the parent or legal guardian of the child, or to the child if the child is emancipated or has reached the age of 18 years, when the Division is no longer legally responsible for the child.
3. The Division shall pay interest to each child’s separate account maintained in the Trust Fund for Child Welfare at the end of each interest period. Interest must be paid at a rate equal to the average of the interest rates quoted by at least three banking institutions for interest-bearing savings accounts of $3,000 or less on the first day of each interest period. Interest must be paid on the child’s account commencing with the first interest period that the Division is legally responsible for the child. Interest must not be paid for the interest period during which the child ceases to be the legal responsibility of the Division.
4. All benefits for survivors or other awards payable to children receiving child welfare services in a county whose population is 100,000 or more pursuant to NRS 432.010 to 432.085, inclusive, must be deposited in the trust fund for child welfare established in the county treasury. A disbursement from the benefits for survivors or other awards of a child which is deposited in the fund may be made to the agency which provides child welfare services for any child welfare services provided to the child with public money.
5. As used in this section, ‘interest period’ means that period not less frequent than quarterly, as determined by the State Treasurer, for which interest must be paid.