Nevada Revised Statutes 561.445 – Use of money by Department if not administered by federal Secretary of Agriculture
1. Notwithstanding any other provisions of law, the money and proceeds of the trust assets which are not authorized to be administered by the Secretary of Agriculture of the United States under the provisions of NRS 561.435 must be received by the Department and by it forthwith deposited with the State Treasurer.
Terms Used In Nevada Revised Statutes 561.445
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Department: means the State Department of Agriculture. See Nevada Revised Statutes 561.025
2. Such money is hereby appropriated and may be expended or obligated by the Department for the purposes of NRS 561.435 or for use by the Department for such of the rural rehabilitation purposes permissible under the charter of the now defunct Nevada Rural Rehabilitation Corporation as may from time to time be agreed upon by the Department and the Secretary of Agriculture of the United States, subject to the applicable provisions of c. 152, 64 Stat. 98, 40 U.S.C. § 440 to 444, inclusive, and the applicable provisions of the Bankhead-Jones Farm Tenant Act.