reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.855 - Repurchase of bonds and other securities.

Any bonds or other securities may be repurchased by the Board out of any funds available for such purpose at a price of not more than the principal amount thereof and accrued interest, plus the amount of the premium, if any, which might on the next prior redemption date of such securities be paid to the holders thereof if such securities should be called for redemption on such date pursuant to their terms, and all securities so repurchased shall be cancelled; but if the securities may not be called for prior redemption at the University’s or the Board’s option within 1 year from the date of their purchase, they may be repurchased without limitation as to price.
(Added to NRS by 1967, 12)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.856 - Use of money received from issuance of securities.

All moneys received from the issuance of any securities herein authorized shall be used solely for the purpose or purposes for which issued and to defray the cost of the project thereby delineated. Any accrued interest and any premium shall be applied to the cost of the project or to the payment of the interest on or the principal of the securities, or both interest and principal, or shall be deposited in a reserve therefor, or any combination thereof, as the Board may determine.
(Added to NRS by 1967, 12)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.857 - Disposition of unexpended balance after completion of project.

Any unexpended balance of the proceeds of such securities remaining after the completion of the acquisition or improvement of properties pertaining to the project or otherwise the completion of the purpose or purposes for which such securities were issued must be credited immediately to the Special Capital Construction Fund for Higher Education, or any other fund or account of the University or the Board for the construction therefor of capital improvements, or the fund or account created for the payment of the interest on or the principal of the securities, or both principal and interest, and must be used therefor, subject to the provisions as to the times and methods for their payment as stated in the securities and the proceedings authorizing or otherwise appertaining to their issuance, or so paid into a reserve therefor, or any combination thereof, as the Board may determine.
(Added to NRS by 1967, 12; A 1979, 361; 1983, 134)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.858 - Validity of securities not dependent on proceedings relating to project or completion of purpose; purchasers not responsible for application of proceeds.

1. The validity of any securities shall not be dependent on nor affected by the validity or regularity of any proceedings relating to a project or the proper completion of any purpose for which the securities are issued.
2. The purchaser or purchasers of the securities shall in no manner be responsible for the application of the proceeds of the securities by the University or the Board or any officers, agents and employees of the Board or the University, or of both.
(Added to NRS by 1967, 12)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.859 - Special funds and accounts: Creation; purposes.

The Board in any resolution authorizing the issuance of bonds or other securities hereunder or in any instrument or other proceedings appertaining thereto may create special funds and accounts for the payment of the cost of a project, of operation and maintenance expenses, of the securities, including the accumulation and maintenance of reserves therefor, of improvements, including the accumulation and maintenance of reserves therefor, and of other obligations appertaining to the securities, any project or otherwise in connection with the University.
(Added to NRS by 1967, 12)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.860 - Employment of legal and other expert services; contracts for sale and other purposes.

1. The Board on its behalf or on the University’s behalf may employ legal, fiscal, engineering, and other expert services in connection with any project or otherwise appertaining to the University and the authorization, sale and issuance of bonds and other securities hereunder.
2. The Board on its behalf or on the University’s behalf is authorized to enter into any contracts or arrangements, not inconsistent with the provisions hereof, with respect to the sale of bonds or other securities hereunder, the employment of bond counsel, and other matters as the Board may determine to be necessary or desirable in accomplishing the purposes hereof.
(Added to NRS by 1967, 13)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.861 - Investment and reinvestment of revenues and proceeds of securities in federal securities.

1. The Board may cause to be invested and reinvested any pledged revenues and any proceeds of bonds or other securities issued hereunder in federal securities and may cause such revenues, proceeds of securities and federal securities to be deposited in any trust bank or trust banks within or without or both within and without this state and secured in such manner and subject to such terms and conditions as the Board may determine, with or without the payment of any interest on such deposit, including without limitation time deposits evidenced by certificates of deposit.
2. Any federal securities and any such certificates of deposit thus held may, from time to time, be sold and the proceeds may be so reinvested or redeposited as provided in this section.
3. Sales and redemptions of any federal securities and such certificates of deposit thus held shall, from time to time, be made in season so that the proceeds may be applied to the purposes for which the money with which the federal securities and certificates of deposit were originally acquired was placed in the treasury of the University or the Board.
4. Any gain from any such investments or reinvestments may be credited to any fund or account pledged for the payment of any securities issued hereunder, including any reserve therefor, or any other fund or account appertaining to a project or otherwise appertaining to the University.
5. It is lawful for any commercial bank incorporated under the laws of this state which may act as depository of the proceeds of any securities issued hereunder, any federal securities owned by the University or the Board, any pledged revenues, and any moneys otherwise appertaining to the University to furnish such indemnifying bonds or to pledge such federal securities or such other securities as may be required by the Board.
(Added to NRS by 1967, 13)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.8615 - Investment and reinvestment of pledged revenues and proceeds of securities issued in investment contract collateralized with securities issued by Federal Government.

In addition to the investments permitted by NRS 396.861, the Board, subject to any contractual limitations from time to time imposed upon the University by any resolution authorizing the issuance of outstanding securities or by any trust indenture or other proceedings appertaining thereto, may cause to be invested and reinvested, except as otherwise provided in NRS 396.876, any pledged revenues and any proceeds of securities issued hereunder in an investment contract that is collateralized with securities issued by the Federal Government or agencies of the Federal Government if:
1. The collateral has a market value of at least 102 percent of the amount invested and any accrued unpaid interest thereon;
2. The University receives a security interest in the collateral that is fully perfected and the collateral is held in custody for the University or its trustee by a third-party agent of the University which is a commercial bank authorized to exercise trust powers;
3. The market value of the collateral is determined not less frequently than weekly and, if the ratio required by subsection 1 is not met, sufficient additional collateral is deposited with the agent of the University to meet that ratio within 2 business days after the determination; and
4. The party with whom the investment contract is executed is a commercial bank, or that party or a guarantor of the performance of that party is:
(a) An insurance company which has a rating on its ability to pay claims of not less than "Aa2" by Moody’s Investors Service, Inc., or "AA" by Standard and Poor’s Ratings Services, or their equivalent; or
(b) An entity which has a credit rating on its outstanding long-term debt of not less than "A2" by Moody’s Investors Service, Inc., or "A" by Standard and Poor’s Ratings Services, or their equivalent.
(Added to NRS by 2001, 2648)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.863 - Pledged revenues received or credited subject to immediate lien; priority and validity of lien.

1. Revenues pledged for the payment of any securities, as received by or otherwise credited to the University or the Board, shall immediately be subject to the lien of each such pledge without any physical delivery thereof, any filing, or further act.
2. The lien of each such pledge and the obligation to perform the contractual provisions made in the authorizing resolution or other instrument appertaining thereto shall have priority over any or all other obligations and liabilities of the University or the Board, except as may be otherwise provided herein or in such resolution or other instrument, and subject to any prior pledges and liens theretofore created.
3. The lien of each such pledge shall be valid and binding as against all persons having claims of any kind in tort, contract or otherwise against the Board or University irrespective of whether such persons have notice thereof.
(Added to NRS by 1967, 16)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.864 - Rights and powers of holders of securities and trustees.

Subject to any contractual limitations binding upon the holders of any issue or series of securities, or trustee therefor, including but not limited to the restriction of the exercise of any remedy to a specified proportion, percentage or number of such holders, and subject to any prior or superior rights of others, any holder of securities, or trustee therefor, shall have the right and power, for the equal benefit and protection of all holders of securities similarly situated:
1. By mandamus or other suit, action or proceeding at law or in equity to enforce his or her rights against the Board or University, or both, the Chancellor of the University, and any other of the officers, agents and employees of the Board or University, or both, to require and compel the Board or University, or both, or any such officers, agents or employees to perform and carry out their respective duties, obligations or other commitments hereunder and their respective covenants and agreements with the holder of any security;
2. By action or suit in equity to require the Board or University, or both, to account as if they were the trustee of an express trust;
3. By action or suit in equity to have appointed a receiver, which receiver may enter and take possession of any facilities and any pledged revenues for the payment of the securities, prescribe sufficient fees derived from the facilities, and collect, receive and apply all pledged revenues or other moneys pledged for the payment of the securities in the same manner as the Board itself might do in accordance with the obligations of the University or the Board; and
4. By action or suit in equity to enjoin any acts or things which may be unlawful or in violation of the rights of the holder of any securities and to bring suit thereupon.
(Added to NRS by 1967, 17; A 1969, 1441)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.865 - Receivers: Appointment; powers and duties.

1. If a resolution of the Board authorizing or providing for the issuance of any securities of any series or any other proceedings appertaining thereto contains a provision authorized by subsection 28 of NRS 396.862 and further provides in substance that any trustee appointed pursuant to subsection 24 of NRS 396.862 shall have the powers provided by that subsection, then such trustee, whether or not all of the bonds or other securities of such series have been declared due and payable, shall be entitled as of right to the appointment of a receiver of the facilities appertaining thereto.
2. Any receiver appointed as permitted by subsection 28 of NRS 396.862 may enter upon and take possession of the facilities and property appertaining thereto, and, subject to any pledge or contract with the holders of such securities, shall take possession of all moneys and other property derived from or applicable to the acquisition, operation, maintenance or improvement of the facilities and proceed with such acquisition, operation, maintenance or improvement which the Board on its behalf or on the behalf of the University is under any obligation to do, and operate, maintain, equip and improve the facilities, and fix, charge, collect, enforce and receive the service charges and all revenues thereafter arising subject to any pledge thereof or contract with the holders of such securities relating thereto and perform the public duties and carry out the contracts and obligations of the University or the Board in the same manner as the Board itself might do and under the direction of the court.
(Added to NRS by 1967, 17; A 1969, 1601)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.866 - Rights and remedies cumulative.

No right or remedy conferred upon any holder of any securities or any coupon appertaining thereto or any trustee for such holder hereby or by any proceedings appertaining to the issuance of such securities or coupons is exclusive of any right or remedy, but each such right or remedy is cumulative and in addition to every other right or remedy and may be exercised without exhausting and without regard to any other remedy conferred hereby or by any other law.
(Added to NRS by 1967, 18)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.867 - Failure of holder to proceed does not relieve University and its officers, agents and employees of liability for nonperformance of duties.

The failure of any holder of any securities or any coupons appertaining thereto so to proceed as herein provided or in such proceedings shall not relieve the Board or the University, or any of their officers, agents and employees of any liability for failure to perform or carry out any duty, obligation or other commitment.
(Added to NRS by 1967, 18)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.868 - Interim debentures: Maturity; use of proceeds; issuance.

1. Any interim debentures may mature at such time or times not exceeding a period of time equal to the estimated time needed to effect the purpose or purposes for which they are issued or for which the bonds are authorized to be issued, but not exceeding 5 years from the date of the interim debentures, as the Board may determine.
2. The proceeds of interim debentures shall be used to defray the cost of the project appertaining thereto.
3. Any notes or warrants or both notes and warrants may be funded with the proceeds of interim debentures, as well as with the proceeds of bonds.
4. Except as otherwise provided in NRS 396.868 to 396.871, inclusive, interim debentures shall be issued as provided herein for Board or University securities in NRS 396.839 to 396.867, inclusive, and 396.880 to 396.885, inclusive.
(Added to NRS by 1967, 18; A 1969, 1602; 1975, 874)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.869 - Interim debentures: Security for payment.

1. Pledged revenues and other money, including without limitation proceeds of bonds to be issued or reissued after the issuance of interim debentures, and bonds issued to secure the payment of interim debentures, or any combination thereof, may be pledged to secure the payment of interim debentures.
2. Any bonds pledged as collateral security for the payment of any interim debentures mature at such time or times as the Board may determine, but in no event exceeding 50 years from the dates of such bonds and such interim debentures, or if the dates are not the same, from whichever date is the earlier.
3. Any bonds pledged as collateral security must not be issued in an aggregate principal amount exceeding the aggregate principal amount of the interim debenture or interim debentures secured by a pledge of the bonds, nor shall they bear interest at any time which, with any interest accruing at the same time on the interim debenture or interim debentures so secured, exceeds by more than 3 percent the Index of Revenue Bonds which was most recently published before the bids are received or a negotiated offer is accepted.
(Added to NRS by 1967, 18; A 1969, 1298; 1971, 2125; 1975, 874; 1981, 1417; 1983, 585)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.871 - Interim debentures: Funding by reissuance of bonds pledged as collateral security; issuance of other bonds.

1. For the purpose of funding any interim debentures, any bonds pledged as collateral security to secure the payment of such interim debentures (upon their surrender as pledged property) may be reissued, and any bonds not previously issued but authorized to be issued by any law for a purpose or purposes the same as or encompassing the purpose or purposes for which the interim debentures were issued, may be issued for such a funding.
2. Any such bonds shall mature at such time or times as the Board may determine, but in no event exceeding 50 years from the dates of the interim debentures so funded and the bonds so pledged as collateral security, or if the dates are not the same, from whichever date is the earlier.
3. Bonds for funding (including but not necessarily limited to any such reissued bonds) and bonds for any other purpose or purposes may be issued separately or issued in combination in one series or more.
4. Except as herein otherwise provided in NRS 396.868 to 396.871, inclusive, any such funding bonds shall be issued as is provided herein for other bonds.
(Added to NRS by 1967, 19)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.873 - Refunding bonds: Exchange for outstanding bonds or federal securities; public or private sale.

1. Any bonds issued for refunding purposes may either be delivered in exchange for the outstanding bonds being refunded or may be publicly or privately sold.
2. The refunding bonds, or any part thereof, may be exchanged by the Board for federal securities which have been made available for escrow investment by any purchaser of refunding bonds, upon terms of exchange mutually agreed upon, and any federal securities so received by the Board shall be placed in escrow as provided in NRS 396.875 and 396.876.
(Added to NRS by 1967, 20)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.874 - Conditions for refunding bonds.

1. No bonds may be refunded hereunder unless the holders thereof voluntarily surrender them for exchange or payment, or unless they either mature or are callable for prior redemption under their terms within 25 years after the date of issuance of the refunding bonds. Provision must be made for paying the securities within that period.
2. The maturity of any bond refunded may not be extended beyond 25 years, or beyond 1 year next following the date of the last outstanding maturity, whichever limitation is later, nor may any interest thereon be increased to any rate which exceeds by more than 3 percent the Index of Revenue Bonds which was most recently published before the bids are received or a negotiated offer is accepted.
3. The principal amount of the refunding bonds may exceed, be less than or be the same as the principal amount of the bonds being refunded so long as provision is duly and sufficiently made for their payment.
(Added to NRS by 1967, 20; A 1969, 1299; 1971, 2125; 1975, 874; 1981, 1417; 1983, 585, 1034, 1596)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.875 - Refunding bonds: Disposition of proceeds, accrued interest and premium; costs; escrow; trusts.

1. Except as herein otherwise provided, the proceeds of refunding bonds shall either be immediately applied to the retirement of the bonds to be refunded or be placed in escrow or trust in any trust bank or trust banks within or without or both within and without this state to be applied to the payment of the refunded bonds or the refunding bonds, or both the refunded bonds and the refunding bonds, upon their presentation therefor to the extent, in such priority and otherwise in the manner which the Board may determine.
2. The incidental costs of the refunding of bonds may be paid by the purchaser of the refunding bonds or be defrayed from any general fund or other available revenues of the University or the Board or from the proceeds of the refunding bonds, or from the interest or other yield derived from the investment of any refunding bond proceeds or other moneys in escrow or trust, or from any other sources legally available therefor, or any combination thereof, as the Board may determine.
3. Any accrued interest and any premium appertaining to a sale of refunding bonds may be applied to the payment of the interest thereon or the principal thereof, or to both interest and principal, or may be deposited in a reserve therefor, or may be used to refund bonds by deposit in escrow, trust or otherwise, or may be used to defray any incidental costs appertaining to the refunding, or any combination thereof, as the Board may determine.
(Added to NRS by 1967, 20)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.876 - Proceeds of refunding bonds in escrow or trust: Investment; security; sufficient amount; purchaser not responsible for application of proceeds.

1. Any such escrow or trust shall not necessarily be limited to proceeds of refunding bonds but may include other moneys available for its purpose.
2. Any proceeds in escrow or trust, pending such use, may be invested or reinvested in federal securities.
3. Any trust bank accounting for federal securities in such escrow or trust may place them for safekeeping wholly or in part in any trust bank or trust banks within or without or both within and without this state.
4. Any trust bank shall continuously secure any moneys placed in escrow or trust and not so invested or reinvested in federal securities by a pledge in any trust bank or trust banks within or without or both within and without the State of federal securities in an amount at all times at least equal to the total uninvested amount of such moneys accounted for in such escrow or trust.
5. Such proceeds and investments in escrow or trust, together with any interest or other gain to be derived from any such investment, shall be in an amount at all times at least sufficient to pay principal, interest, any prior redemption premiums due, and any charges of the escrow agent or trustee and any other incidental expenses payable therefrom, except to the extent provision may have been previously otherwise made therefor, as such obligations become due at their respective maturities or due at designated prior redemption date or dates in connection with which the Board shall have exercised or shall be obligated to exercise a prior redemption option on its behalf or on behalf of the University.
6. The computations made in determining such sufficiency shall be verified by a certified public accountant certified or licensed to practice in this state or in any other state.
7. Any purchaser of any refunding bond issued hereunder shall in no manner be responsible for the application of the proceeds thereof by the Board or the University or any of their respective officers, agents or employees.
(Added to NRS by 1967, 21)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.877 - Refunding bonds payable from pledged revenues.

Refunding bonds may be made payable from any pledged revenues which might be legally pledged for the payment of the bonds being refunded at the time of the refunding or at the time of the issuance of the bonds being refunded, as the Board may determine, notwithstanding the revenue sources or the pledge of such revenues for the payment of the outstanding bonds being refunded is hereby modified.
(Added to NRS by 1967, 21)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.879 - Other statutory provisions applicable to refunding bonds.

Except as in NRS 396.872 to 396.878, inclusive, expressly provided or necessarily implied, the relevant provisions elsewhere herein appertaining generally to the issuance of bonds to defray the cost of any project shall be equally applicable in the authorization and issuance of refunding bonds, including their terms and security, the covenants and other provisions of the resolution authorizing the issuance of the bonds, or other instruments or proceedings appertaining thereto, and other aspects of the bonds.
(Added to NRS by 1967, 22)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.880 - Conclusive determination of Board of Regents that statutory limitations have been met.

The determination of the Board that the limitations hereunder imposed upon the issuance of bonds or upon the issuance of other securities hereunder, including without limitation any securities for funding or refunding securities, have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discretion regardless of whether the authorizing resolution or the securities thereby authorized contain a recital as authorized by NRS 396.851.
(Added to NRS by 1967, 22; A 1969, 1603)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.881 - Bonds and other securities exempt from taxation; exception.

1. Except as otherwise provided in subsection 2, bonds and other securities issued pursuant to the provisions of the University Securities Law, their transfer and the income therefrom must forever be and remain free and exempt from taxation by this state or any subdivision thereof.
2. The provisions of subsection 1 do not apply to the tax on estates imposed pursuant to the provisions of chapter 375A of NRS or the tax on generation-skipping transfers imposed pursuant to the provisions of chapter 375B of NRS.
(Added to NRS by 1967, 22; A 1989, 2108; 1991, 1712)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.883 - Legal investments for other persons.

1. It is legal for any bank, trust company, banker, savings bank or institution, savings and loan association, investment company and any other person carrying on a banking or investment business, any insurance company, insurance association, or any other person carrying on an insurance business, and any executor, administrator, curator, trustee or any other fiduciary, to invest funds or money in his or her custody in any of the bonds or other securities issued hereunder.
2. Nothing contained in this section with regard to legal investments relieves any representative of any corporation or other person of any duty of exercising reasonable care in selecting securities.
(Added to NRS by 1967, 22; A 1983, 134)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.884 - Sufficiency of NRS 396.809 to 396.885, inclusive.

1. NRS 396.809 to 396.885, inclusive, without reference to other statutes of this state, except as herein otherwise expressly provided, shall constitute full authority for the exercise of the incidental powers herein granted concerning the borrowing of money to defray wholly or in part the cost of any project appertaining to the University or the Board, or to refinance outstanding loans, or both, and the issuance of bonds or other securities to evidence such loans or other obligations or to fund or refund outstanding securities, or any combination thereof, as the Board may determine.
2. No other act or law with regard to the authorization or issuance of securities or the exercise of any other power herein granted that requires an approval, or in any way impedes or restricts the carrying out of the acts herein authorized to be done shall be construed as applying to any proceedings taken hereunder or acts done pursuant hereto, except as herein otherwise provided.
3. The powers conferred by NRS 396.809 to 396.885, inclusive, shall be in addition and supplemental to, and not in substitution for, and the limitations imposed by NRS 396.809 to 396.885, inclusive, shall not affect the powers conferred by, any other law.
4. Nothing contained in NRS 396.809 to 396.885, inclusive, shall be construed as preventing the exercise of any power granted to the Board or to the University acting by and through the Board, or any officer, agent or employee thereof, by any other law.
5. No part of NRS 396.809 to 396.885, inclusive, shall repeal or affect any other law or part thereof, it being intended that NRS 396.809 to 396.885, inclusive, shall provide a separate method of accomplishing their objectives and not an exclusive one; and NRS 396.809 to 396.885, inclusive, shall not be construed as repealing, amending or changing any such other law.
(Added to NRS by 1967, 22)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.890 - Administration by Board of Regents; eligibility for loans; terms and repayment of loans; delinquency charges.

1. The Board of Regents may administer, directly or through a designated officer or employee of the System, a program to provide loans for fees, books and living expenses to students in the nursing programs of the System.
2. Each student to whom a loan is made must:
(a) Have been a "bona fide resident" of Nevada, as that term is defined in NRS 396.540, for at least 6 months prior to the "matriculation" of the student in the System, as that term is defined pursuant to NRS 396.540;
(b) Be enrolled at the time the loan is made in a nursing program of the System for the purpose of becoming a licensed practical nurse or registered nurse;
(c) Except as otherwise provided in NRS 396.158, fulfill all requirements for classification as a full-time student showing progression towards completion of the program; and
(d) Except as otherwise provided in NRS 396.158, maintain at least a 2.00 grade point average in each class and at least a 2.75 overall grade point average, on a 4.0 grading scale.
3. Each loan must be made upon the following terms:
(a) All loans must bear interest at 8 percent per annum from the date when the student receives the loan.
(b) Each student receiving a loan must repay the loan with interest following the termination of the student’s education for which the loan is made. The loan must be repaid in monthly installments over the period allowed with the first installment due 1 year after the date of the termination of the student’s education for which the loan is made. The amounts of the installments must not be less than $50 and may be calculated to allow a smaller payment at the beginning of the period of repayment, with each succeeding payment gradually increasing so that the total amount due will have been paid within the period for repayment. The period for repayment of the loans must be:
(1) Five years for loans which total less than $10,000.
(2) Eight years for loans which total $10,000 or more, but less than $20,000.
(3) Ten years for loans which total $20,000 or more.
4. A delinquency charge may be assessed on any installment delinquent 10 days or more in the amount of 8 percent of the installment or $4, whichever is greater, but not more than $15.
5. The reasonable costs of collection and an attorney’s fee may be recovered in the event of delinquency.
(Added to NRS by 1989, 2134; A 1993, 359; 2005, 1421; 2021, 3685)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.891 - Limitations on amount of loans; distribution of loans among campuses of System.

1. The loans made pursuant to NRS 396.890 to 396.898, inclusive, must not exceed the following amounts per student per semester. If the student is enrolled in a program of:
(a) A community college, $1,700.
(b) A university, $2,005.
2. Any money distributed pursuant to NRS 396.890 to 396.898, inclusive, must be distributed among the campuses of the System in amounts that will allow the same percentage of eligible students enrolled in the licensed practical nurse and registered practical nurse programs of each campus to receive loans.
(Added to NRS by 1989, 2135; A 1993, 360)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.892 - Repayment of loans; exceptions; regulations.

1. Each student who receives a loan made pursuant to NRS 396.890 to 396.898, inclusive, shall repay the loan and accrued interest pursuant to the terms of the loan unless the student:
(a) Practices nursing in a rural area of Nevada or as an employee of the State for 6 months for each academic year for which he or she received a loan; or
(b) Practices nursing in any other area of Nevada for 1 year for each academic year for which he or she received a loan.
2. The Board of Regents may adopt regulations:
(a) Extending the time for completing the required practice beyond 5 years for persons who are granted extensions because of hardship; and
(b) Granting prorated credit towards repayment of a loan for time a person practices nursing as required, for cases in which the period for required practice is only partially completed,
and such other regulations as are necessary to carry out the provisions of NRS 396.890 to 396.898, inclusive.
3. As used in this section, "practices nursing in a rural area" means that the person practices nursing in an area located in a county whose population is less than 52,000 at least half of the total time the person spends in the practice of nursing, and not less than 20 hours per week.
(Added to NRS by 1989, 2135; A 2001, 1988; 2011, 1251; 2023, 270)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.893 - Board of Regents may require cosigner or security for loan.

The Board of Regents or its designee may require:
1. A student to acquire, as security for a student loan, insurance on the student’s life and on the student’s health or against the student’s disability, or both.
2. That a financially responsible person agree to be jointly liable with the recipient for the repayment of the loan.
(Added to NRS by 1989, 2136)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.894 - Board of Regents may require repayment of balance of loan under certain circumstances.

The Board of Regents or its designee may require, upon notice to a recipient of a loan, that the recipient repay the balance and any unpaid interest on the loan at once if:
1. An installment is not paid within 30 days after it is due;
2. The recipient fails to notify the Board of Regents or its designee, within 30 days, of:
(a) A change of name or of the address of his or her home or place of practice; or
(b) The termination of the education for which he or she received the loan; or
3. The recipient fails to comply with any other requirement or perform any other obligation the recipient is required to perform pursuant to any agreement with the Board of Regents or its designee.
(Added to NRS by 1989, 2136)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.895 - Recipient of loan required to comply with regulations adopted by Board of Regents; penalties.

A recipient of a loan made pursuant to NRS 396.890 to 396.898, inclusive, shall comply with the regulations adopted by the Board of Regents. If the recipient fails so to comply, the Board of Regents or its designee may:
1. For each infraction, impose a fine of not more than $200 against any recipient in any academic year, and may deny additional money to any student who fails to pay the fine when due;
2. Increase the portion of any future loan to be repaid by the recipient; and
3. Extend the time a recipient is required to practice nursing to repay his or her loan.
(Added to NRS by 1989, 2136)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.896 - Extension of period for repayment of loan: Application; approval by Board of Regents.

1. The Board of Regents or its designee may, after receiving an application stating the reasons therefor, grant an extension of the period for the repayment of a loan in case of hardship arising out of the individual circumstances of a recipient. The extension must be for a period that will reasonably alleviate that hardship.
2. Applications for extensions must be filed within the time prescribed by regulation of the Board of Regents.
(Added to NRS by 1989, 2136)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.897 - Credit towards repayment of loan for certain professional services provided without compensation.

A person obligated to repay a student loan may, as determined by the Board of Regents or its designee, receive credit towards payment of the loan for professional services provided without compensation to the State or any of its political subdivisions.
(Added to NRS by 1989, 2136)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.898 - Powers of Board of Regents.

The Board of Regents may:
1. Receive, invest, disburse and account for all money received for the program.
2. Report to the Governor and the Legislature before September 1 of any year preceding a regular session of the Legislature, setting forth in detail the transactions conducted by it during the biennium ending June 30 of such year.
3. Make recommendations for any legislative action deemed by it advisable.
(Added to NRS by 1989, 2136)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.899 - Nevada Health Service Corps: "Practitioner" defined.

As used in NRS 396.899 to 396.903, inclusive, unless the context otherwise requires, "practitioner" has the meaning ascribed to it in NRS 439A.0195.
(Added to NRS by 2003, 20th Special Session, 276)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.900 - Nevada Health Service Corps: Establishment by Board of Regents authorized.

The University of Nevada School of Medicine may establish a Nevada Health Service Corps to encourage practitioners to practice in areas of Nevada in which a shortage of that type of practitioner exists.
(Added to NRS by 1989, 2155; A 1993, 360; 2003, 20th Special Session, 279)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.901 - Nevada Health Service Corps: Primary purposes.

The primary purposes of the Nevada Health Service Corps must be to:
1. Recruit practitioners for participation in the program;
2. Designate areas of Nevada in which a shortage of each type of practitioner exists;
3. Match practitioners with the designated areas; and
4. Help practitioners to negotiate contracts to serve in the designated areas.
(Added to NRS by 1989, 2156; A 2003, 20th Special Session, 279)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.902 - Nevada Health Service Corps: Powers of University of Nevada School of Medicine.

The University of Nevada School of Medicine may:
1. Apply for any matching money available for the program from the Federal Government.
2. Adopt regulations necessary to carry out the provisions of NRS 396.899 to 396.903, inclusive.
3. Receive, invest, disburse and account for all money received from the Federal Government or any other source for this program.
(Added to NRS by 1989, 2156; A 2003, 20th Special Session, 279)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.903 - Nevada Health Service Corps: Program for repayment of loans on behalf of certain practitioners.

1. The University of Nevada School of Medicine may authorize the Nevada Health Service Corps to administer a program under which money for loans is repaid on behalf of a practitioner for each year he or she practices in an area of Nevada in which a shortage of that type of practitioner exists, as determined by the Nevada Office of Rural Health within the University of Nevada School of Medicine and the Nevada Health Service Corps.
2. To qualify for the program, a practitioner required to be licensed pursuant to the provisions of chapter 630, 630A, 633 or 634 of NRS must have completed his or her primary care residency and hold an active license issued pursuant to chapter 630, 630A, 633 or 634 of NRS. All other practitioners must have completed training in a certified program and have an active license, certification or registration from the State of Nevada.
(Added to NRS by 1989, 2155; A 2003, 20th Special Session, 279)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.905 - Use of money by the University of Nevada School of Medicine for development of obstetrical access program.

Any gift, donation, bequest, grant or other source of money received by the University of Nevada School of Medicine for the development of an obstetrical access program may be used to:
1. Provide financial support and education to faculty and residents in the Departments of Family and Community Medicine and Obstetrics and Gynecology within the University of Nevada School of Medicine and to expand the clinical services provided by such faculty and residents in areas and to populations that need obstetrical services.
2. Provide money to Nevada Health Centers, Inc., or its successor, to expand the clinical prenatal and obstetrical practice base of community health center clinics and to provide uninsured, underinsured and Medicaid patients with increased access to clinical prenatal and obstetrical care.
3. Establish a fund that allows practicing community providers of prenatal care that are participating in the obstetrical access program to draw upon money to partially compensate them for providing care to patients who have no access to clinical care because of their financial status.
4. Develop a database of clinical practitioners providing prenatal or obstetrical services throughout the State to monitor and analyze:
(a) The relationship between declining services and the supply and distribution of appropriate providers of health care;
(b) The impact of access to care issues on pregnant women, including, without limitation, poor birth outcomes which result from lack of access to care, the financial impact of such poor birth outcomes and the effects of receiving inadequate prenatal care; and
(c) The impact of adverse judicial decisions on the delivery of obstetrical services.
5. Subsidize malpractice costs for clinical providers of prenatal care who maintain at least 30 percent or more of prenatal or obstetrical patients in their practice who are uninsured, underinsured or insured by Medicaid, or who use a sliding fee scale based on a patient’s financial resources when charging for such services. The subsidy must be calculated based on the number of qualified clinical providers of prenatal care, the proportion of financially compromised patients served by such providers and the total amount of money available for subsidies.
(Added to NRS by 2003, 20th Special Session, 276)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.906 - Nevada Office of Rural Health: Establishment; duties; use of gifts and other money.

1. The Nevada Office of Rural Health is hereby established within the University of Nevada School of Medicine to administer matters relating to the delivery of health care services to rural and frontier areas in this state. The Nevada Office of Rural Health shall:
(a) Evaluate the need for programs concerning the delivery of health care services to rural and frontier areas in this state and make recommendations to the University of Nevada School of Medicine and the Legislature to carry out such programs; and
(b) Establish, administer and coordinate programs which affect the delivery of health care services to rural and frontier areas in this state, including, without limitation, programs relating to:
(1) The education and training of providers of health care who provide services in rural and frontier areas;
(2) The needs of rural and frontier areas for health care services and the manner in which such health care services may be effectively delivered;
(3) The delivery of health care services to rural and frontier areas;
(4) The financing of the delivery of health care services to rural and frontier areas; or
(5) The collection of data necessary for the Nevada Office of Rural Health to carry out its duties concerning the delivery of health care services to rural and frontier areas.
2. Any gift, donation, bequest, grant or other source of money received by the Nevada Office of Rural Health may be used to carry out the provisions of this section.
(Added to NRS by 2003, 20th Special Session, 277)
2023 Nevada Revised Statutes › Chapter 396 - Nevada System of Higher Education › NRS 396.907 - Area Health Education Center Program: Establishment; duties; use of gifts and other money.

1. The Area Health Education Center Program is hereby established within the University of Nevada School of Medicine to support education and training programs for students studying to become practitioners, or residents or practitioners who will provide or are providing health care services in medically underserved areas in this state, including urban and rural areas. The Area Health Education Center Program shall:
(a) Assist the area health education centers within Nevada in providing:
(1) Career opportunities in health care;
(2) Information to practitioners and other providers of health care;
(3) Continuing education for practitioners and other providers of health care; and
(4) Stipends for the education and training of students studying to become practitioners and residents who will provide or who are providing health care services in medically underserved areas in this state;
(b) Assess and develop training programs concerning the appropriate curriculum for primary care and other priority health care services;
(c) Enhance the training programs in primary care by providing additional entry-level positions and faculty to increase the availability of practitioners and other providers of health care;
(d) Increase the percentage of medical students committing to residencies and careers in primary care;
(e) Provide a greater percentage of primary care residents to medically underserved areas in this state;
(f) Develop and enhance training programs necessary to address the primary health care needs of persons in this state; and
(g) Establish interdisciplinary opportunities for education and training for practitioners and other providers of health care.
2. Any gift, donation, bequest, grant or other source of money received by the Area Health Education Center Program may be used to carry out the provisions of this section.
3. As used in this section, "practitioner" has the meaning ascribed to it in NRS 439A.0195.
(Added to NRS by 2003, 20th Special Session, 277)