Nevada Revised Statutes 487.825 – Revolving Account for the Issuance of Salvage Titles: Creation; use of money; transfer of excess balance to State Highway Fund
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1. The Revolving Account for the Issuance of Salvage Titles is hereby created as a special account in the State Highway Fund.
Terms Used In Nevada Revised Statutes 487.825
- Department: means the Department of Motor Vehicles. See Nevada Revised Statutes 481.015
- 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 Department shall use the money in the Account only to pay the expenses relating to the issuance of salvage titles.
3. At the end of each fiscal year, the State Controller shall transfer from the Account to the State Highway Fund an amount of money equal to the balance in the Account which exceeds $50,000.