reglab/housing_qa huggingface dataset:
NV Rev Stat § 349.870 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.870 - Sufficiency of NRS 349.700 to 349.870, inclusive; construction.

  1. The provisions of NRS 349.700 to 349.870, inclusive, without reference to other statutes of the State, constitute full authority for the exercise of powers granted in those sections, including but not limited to the authorization and issuance of bonds.  2. No other act or law with regard to the authorization or issuance of bonds that provides for an election, requires an approval, or in any way impedes or restricts the carrying out of the acts authorized in NRS 349.700 to 349.870, inclusive, to be done, apply to any proceedings taken under those sections, or acts done pursuant to those sections, except for laws to which reference is expressly made in those sections or by necessary implication of those sections.  3. The provisions of no other law, either general or local, except as provided in NRS 349.700 to 349.870, inclusive, apply to the doing of the things authorized in those sections to be done, and no board, agency, bureau, commission or official not designated in those sections has any authority or jurisdiction over the doing of any of the acts authorized in those sections to be done, except as otherwise provided in those sections.  4. Any bank or trust company located within or without this state may be appointed and act as a trustee with respect to bonds issued pursuant to NRS 349.700 to 349.870, inclusive, without the necessity of associating with any other person or entity as cofiduciary, but such an association is not prohibited.  5. The powers conferred by NRS 349.700 to 349.870, inclusive, are in addition and supplemental to, and not in substitution for, and the limitations imposed by those sections do not affect the powers conferred by any other law.  6. No part of NRS 349.700 to 349.870, inclusive, repeals or affects any other law or part thereof, except to the extent that those sections are inconsistent with any other law, it being intended that those sections provide a separate method of accomplishing its objectives, and not an exclusive one.  7. The Director or a person designated by the Director may take any actions and execute and deliver any instruments, contracts, certificates and other documents, including the bonds, necessary or appropriate for the sale and issuance of the bonds or accomplishing the purposes of NRS 349.700 to 349.870, inclusive, without the assistance or intervention of any other officer.  8. NRS 349.700 to 349.870, inclusive, must be liberally construed to effectuate the purposes of this act.  (Added to NRS by 1985, 2021)
NV Rev Stat § 349.900 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.900 - Legislative declaration.

It is the intent of the Legislature to:  1. Promote in the broadest sense the economic diversification and safe growth of the economy of the State;  2. Provide an attractive opportunity for the investment of venture capital within the State;  3. Correct the serious shortage of venture capital available or dedicated to development of new enterprises within the State;  4. Ensure that the investment strategies pursued pursuant to NRS 349.900 to 349.929, inclusive, emphasize enterprises in the early stages of development that exhibit the potential for high growth and the capability to use equity capital efficiently so that the ratio of its revenues will be relatively high in comparison to its capital; and  5. Ensure that the enterprises funded with the money developed for venture capital pursuant to NRS 349.900 to 349.929, inclusive, are compatible with the plan of the State for economic diversification and development or for the marketing and development of tourism and any modifications thereto, and are of the type that will not cause significant injury to the environment of the State.  (Added to NRS by 1987, 1404)
NV Rev Stat § 349.901 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.901 - Definitions.

As used in NRS 349.900 to 349.929, inclusive, unless the context otherwise requires, the words and terms defined in NRS 349.902 to 349.909, inclusive, have the meanings ascribed to them in those sections.  (Added to NRS by 1987, 1405)
NV Rev Stat § 349.902 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.902 - "Account for Venture Capital" defined.

Account for Venture Capital means the special fund which contains that portion of the proceeds from the sale of the bonds allocated for venture capital by the Director or his or her representative.  (Added to NRS by 1987, 1405)
NV Rev Stat § 349.903 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.903 - "Agreement" defined.

Agreement means the contract between the Director and the management company authorizing the management company to manage the assets of the Account for Venture Capital.  (Added to NRS by 1987, 1405)
NV Rev Stat § 349.904 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.904 - "Board" defined.

Board means the State Board of Finance.  (Added to NRS by 1987, 1405; A 1995, 2238)
NV Rev Stat § 349.905 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.905 - "Bonds" and "revenue bonds" defined.

Bonds or "revenue bonds" means bonds, notes or other securities evidencing an obligation and issued pursuant to NRS 349.900 to 349.929, inclusive.  (Added to NRS by 1987, 1405)
NV Rev Stat § 349.906 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.906 - "Director" defined.

Director means the Director of the Department of Business and Industry or any person within the Department of Business and Industry designated by the Director to perform duties in connection with a financing or the issuance of bonds.  (Added to NRS by 1987, 1405; A 1993, 1570)
NV Rev Stat § 349.907 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.907 - "Expense of operation and maintenance" defined.

Expense of operation and maintenance means any reasonable and necessary current expense of the State for the operation, maintenance or administration of the financing or of the collection and administration of revenues from the financing, and includes, but is not limited to:  1. Expenses for engineering, auditing, reporting or legal services and any other expense incurred by the Director which are directly related to the administration of the financing;  2. Premiums for fidelity bonds and policies of property and liability insurance pertaining to the financing;  3. Premiums for blanket bonds and policies, or any portion thereof, which may be reasonably allocated to the State;  4. Payments to pension, retirement and health insurance and other insurance funds;  5. Reasonable charges by any paying agent, commercial bank, credit union, trust company or other depository bank pertaining to any bonds;  6. Salaries or fees paid pursuant to any contract for professional services;  7. Cost of materials, supplies and labor pertaining to the issuance of any bonds, including the expenses of any trustee, receiver or other fiduciary; and  8. Costs incurred in the collection and any refund of revenues pursuant to the financing.  (Added to NRS by 1987, 1405; A 1999, 1471)
NV Rev Stat § 349.908 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.908 - "Fund for the Retirement of Bonds" defined.

Fund for the Retirement of Bonds means the fund established pursuant to the indenture and held by the trustee and which secures payment of the principal amount of the bonds at maturity.  (Added to NRS by 1987, 1406)
NV Rev Stat § 349.909 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.909 - "Management company" defined.

Management company means the company which manages and administers the Account for Venture Capital pursuant to the agreement.  (Added to NRS by 1987, 1406)
NV Rev Stat § 349.910 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.910 - General powers of Director; promotion of funds for venture capital; liberal construction.

  1. The Director has all the powers necessary to accomplish the purposes set forth in NRS 349.900 to 349.929, inclusive, but these powers must be exercised for the health, safety, convenience, prosperity and welfare of the inhabitants of this state and for the economic diversification and development of the State and the marketing and development of tourism.  2. Within the limits of the financial resources available to the Director, and without issuing bonds, the Director may promote the establishment of any privately financed fund for venture capital designed to accomplish the legislative goals set forth in NRS 349.900 or to assist the Director in achieving the purposes of NRS 349.900 to 349.929, inclusive. The State must not have a financial interest in the fund and must not be obligated to pay any money or assume any liability in connection with it.  3. The Legislature intends that NRS 349.900 to 349.929, inclusive, be liberally construed in conformity with the purposes set forth in NRS 349.900.  (Added to NRS by 1987, 1406; A 1989, 1668)
NV Rev Stat § 349.911 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.911 - Limitation on personal liability of Director or person acting on his or her behalf.

In the absence of fraud, malice or willful misconduct, the Director or any person acting on his or her behalf is not personally liable on any contracts or other agreements entered into by the Director pursuant to NRS 349.900 to 349.929, inclusive, or for any damage or injury resulting from the performance of those duties.  (Added to NRS by 1987, 1406)
NV Rev Stat § 349.912 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.912 - Director: Selection of management company; agreement; regulations; expenses of operation and maintenance; employees, advisers and consultants.

The Director may, upon approval of the Board:  1. Select the management company;  2. Enter into an agreement;  3. Adopt regulations necessary to carry out the provisions of NRS 349.900 to 349.929, inclusive;  4. Charge the Account for Venture Capital for the expenses of operation and maintenance; and  5. Employ or contract for the services of attorneys, accountants, financial experts and any other advisers, employees, consultants and agents as the Director determines to be necessary to carry out the provisions of NRS 349.900 to 349.929, inclusive.  (Added to NRS by 1987, 1406)
NV Rev Stat § 349.913 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.913 - Director: Restriction on operation or management of enterprise.

The Director may not operate or manage any enterprise in which an investment has been made by a management company for the Account for Venture Capital.  (Added to NRS by 1987, 1406)
NV Rev Stat § 349.914 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.914 - Director: Allocation of proceeds of bonds.

A portion of the proceeds of the bonds, after the allocation to the Fund for the Retirement of Bonds, must be placed by the Director in a special Account for Venture Capital.  (Added to NRS by 1987, 1406)
NV Rev Stat § 349.915 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.915 - Contents of agreement.

In the agreement the management company shall agree to invest the money and other assets in the Account for Venture Capital consistent with the purposes of NRS 349.900 to 349.929, inclusive. In addition, the agreement must:  1. Specify the length of the term of the agreement, the compensation to be paid the management company and the method by which the agreement may be terminated before the expiration of its term.  2. Impose a fiduciary duty on the management company in the administration of the Account for Venture Capital, including the preservation and protection of the money and other assets in the Account for Venture Capital before their investment.  3. Prohibit the Director from participating in the decisions regarding the investment of the money and other assets in the Account for Venture Capital.  4. Specify the grounds for terminating the agreement for cause other than the poor performance of certain enterprises in which the money is invested.  5. Authorize the Director or the management company to terminate the agreement without cause upon written notice to the other party. The amount of time necessary for notice may be negotiated between the Director and the management company.  6. Authorize the Director to require the management company to adhere to certain objectives and policies for investment applicable to the Account for Venture Capital to ensure the achievement of the goals prescribed in NRS 349.900, and to terminate the contract if the management company fails to adhere to those objectives and policies.  7. Prohibit the management company, upon termination of the agreement for any reason, from making any additional investment for the Account for Venture Capital after the date of notice of the termination, unless the investment is authorized in writing by the Director.  (Added to NRS by 1987, 1406)
NV Rev Stat § 349.916 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.916 - Objective of investments for Account for Venture Capital.

The objective of the investments for the Account for Venture Capital is to seek the appreciation of long-term capital by investing venture capital in new developing enterprises which the management company believes offers the possibility of significant long-term growth consistent with the protection of the environment of the State.  (Added to NRS by 1987, 1407)
NV Rev Stat § 349.917 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.917 - Form of investments of management company; management company to be managed by experienced person.

  1. The investments of the management company for the Account for Venture Capital may take the form of an equity investment, a loan or a purchase of warrants or options to purchase stock.  2. The management company must be managed by a person who is experienced in various aspects of the development of new enterprises.  (Added to NRS by 1987, 1407)
NV Rev Stat § 349.918 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.918 - Prerequisites for management company.

The management company must be:  1. Aware of and responsive to local issues;  2. Capable of supervising and financing an enterprise throughout its development;  3. Familiar with and able to cooperate with any agency or program of the United States for the development or promotion of small enterprises; and  4. Willing to locate branch offices in Nevada restricted to Nevada financing.  (Added to NRS by 1987, 1407)
NV Rev Stat § 349.919 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.919 - Issuance of revenue bonds: Director required to submit findings to Board; approval of Board; limitation on amount of bonds.

  1. The Director may, if he or she finds it feasible, issue revenue bonds to the extent necessary to provide sufficient money for the Account for Venture Capital and sufficient to pay the interest on the bonds until the proceeds are so used and to pay all other expenses incurred in providing the financing.  2. The Director shall submit to the Board a copy of his or her findings relevant to the issuance of the bonds. If the Board approves, the Director may proceed to issue the bonds in the amount approved, but the aggregate principal amount of outstanding bonds issued, based upon the face value of the initial issue, must not exceed $100,000,000. The Director may issue bonds the interest on which is not exempt from federal income tax or excluded from gross revenue for the purposes of federal income tax.  (Added to NRS by 1987, 1407)
NV Rev Stat § 349.920 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.920 - Issuance of bonds: Findings of Director and Board.

Before issuing bonds, the Director and the Board shall find that:  1. The financing will provide a public benefit.  2. There are sufficient safeguards to ensure that all money provided pursuant to NRS 349.900 to 349.929, inclusive, will be expended solely for the purposes stated in NRS 349.900 to 349.929, inclusive.  3. There are existing and projected needs for venture capital and the money would alleviate an existing shortage of venture capital in the State.  4. The financing is compatible with the investment objectives as stated in the agreement.  5. The financing is compatible with the plan of the State for economic diversification and development or for the marketing and development of tourism in this state, and any modifications thereto.  6. The total amount of money to be provided by the Director is adequate to create the Account for Venture Capital.  7. The agreement is consistent with the provisions of NRS 349.900 to 349.929, inclusive, and adequately provides for optimum investment of the money and other assets of the Account for Venture Capital.  8. The management company has the experience, reputation, capital, and personnel to be able to accomplish its obligations as specified in the agreement.  (Added to NRS by 1987, 1408)
NV Rev Stat § 349.921 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.921 - Bonds: Safety as to repayment of principal and interest; Fund for the Retirement of Bonds; investment of money in Fund.

  1. The bonds issued pursuant to NRS 349.900 to 349.929, inclusive, must be structured to provide a significant degree of safety as to repayment of principal and interest upon their maturity.  2. A portion of the proceeds of the bonds must be placed in a Fund for the Retirement of Bonds. The money in this Fund must be invested in:  (a) Direct obligations of, or obligations the payment of the principal of and the interest of which are unconditionally guaranteed by the United States;  (b) Obligations issued or guaranteed as to principal and interest by any agency or instrumentality of the United States; or  (c) Money market mutual funds that:  (1) Are registered with the Securities and Exchange Commission;  (2) Are rated by a nationally recognized rating service as "AAA" or its equivalent; and  (3) Invest only in securities issued or guaranteed as to payment of principal and interest by the Federal Government, or its agencies or instrumentalities, or in repurchase agreements that are fully collateralized by such securities.  3. The amount of the deposit in the Fund for the Retirement of Bonds must be determined on the basis of the yields available from the securities in which that money may be invested on the date of the deposit and calculated so as to produce, without reinvestment, a balance in the Fund sufficient to pay the principal amount due on the bonds at maturity.  (Added to NRS by 1987, 1408; A 1997, 2867)
NV Rev Stat § 349.922 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.922 - Bonds: Special obligations of State.

  1. All bonds issued by the Director pursuant to NRS 349.900 to 349.929, inclusive, are special, limited obligations of the State.  2. The bonds and interest coupons, if any, which are a part of those bonds do not constitute the debt or indebtedness of the State or any city or county within the meaning of any provision or limitation of the Constitution of the State of Nevada or of a statute, and do not constitute or give rise to a pecuniary liability of the State or a charge against its general credit or taxing powers. This limitation must be plainly stated on the face of each bond.  (Added to NRS by 1987, 1408)
NV Rev Stat § 349.923 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.923 - Bonds: Form and terms; sale.

  1. The bonds must be authorized by an order of the Director, and must:  (a) Be in the denominations;  (b) Bear the date or dates;  (c) Mature at the time or times, not exceeding 40 years after their respective dates;  (d) Be in the form;  (e) Be executed in the manner;  (f) Carry the registration privileges;  (g) Be payable at the place or places within or without the State; and  (h) Be subject to the terms of redemption,  which the order authorizing their issue provides.  2. The bonds may be sold in one or more series at par, or below or above par, in the manner and for the price or prices which the Director determines in his or her discretion. As an incidental expense to any investment to be financed by the bonds, the Director may employ financial and legal consultants in regard to the financing.  3. The bonds are fully negotiable under the terms of the Uniform Commercial Code — Investment Securities.  (Added to NRS by 1987, 1409)
NV Rev Stat § 349.924 (2021)
2021 Nevada Revised Statutes|Chapter 349 - State Obligations|NRS 349.924 - Bonds: Regulations for investment and reinvestment of proceeds and management of proceeds by banks or trust companies.

The Director shall adopt regulations for:  1. Investment and reinvestment of the proceeds designated for the Account for Venture Capital from the sale of bonds, including, but not limited to:  (a) Bonds or other obligations of the United States.  (b) Bonds or other obligations, the payment of the principal and interest of which is unconditionally guaranteed by the United States.  (c) Obligations issued or guaranteed as to principal and interest by any agency or person controlled or supervised by and acting as an instrumentality of the United States pursuant to authority granted by the Congress of the United States.  (d) Obligations issued or guaranteed by any state of the United States, or any political subdivision of any state.  (e) Prime commercial paper.  (f) Prime finance company paper.  (g) Bankers’ acceptances drawn on and accepted by commercial banks.  (h) Repurchase agreements fully secured by obligations issued or guaranteed as to principal and interest by the United States or by any person controlled or supervised by and acting as an instrumentality of the United States pursuant to authority granted by the Congress of the United States.  (i) Certificates of deposit issued by credit unions or commercial banks, including banks domiciled outside of the United States.  (j) Money market mutual funds that:  (1) Are registered with the Securities and Exchange Commission;  (2) Are rated by a nationally recognized rating service as "AAA" or its equivalent; and  (3) Invest only in securities issued or guaranteed as to payment of principal and interest by the Federal Government, or its agencies or instrumentalities, or in repurchase agreements that are fully collateralized by such securities.  2. Receiving, holding and disbursing of proceeds of the sale of bonds by one or more banks or trust companies located within or outside of this state.  This section does not expand the authority for investing the proceeds of bonds placed in the Fund for the Retirement of Bonds.  (Added to NRS by 1987, 1409; A 1997, 2867; 1999, 1471)