Nevada Revised Statutes 689C.540 – Duties
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A voluntary purchasing group shall:
Terms Used In Nevada Revised Statutes 689C.540
- Contract: A legal written agreement that becomes binding when signed.
1. Establish administrative and accounting procedures for the operation of the group and the provision of services to members, prepare an annual budget and annual operational fiscal reports;
2. Provide for internal and independent audits; and
3. Maintain all records, reports and other information of the group and may contract with qualified third-party administrators, licensed insurance agents or brokers as needed.