reglab/statecodes huggingface dataset:
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.904 - Rights of parties and staff at evidentiary hearings

Current through June 11, 2024
At any evidentiary hearing, the parties and staff may:
1. Call and examine witnesses.
2. Introduce exhibits relevant to the issues
				of the proceeding.
3. Cross-examine
				opposing witnesses on any matter relevant to the issues of the proceeding, even
				though that matter was not covered in the direct examination.
4. Impeach any witness, regardless of which
				party first called the witness to testify.
5. Offer rebuttal evidence.
6. Call any person who may be an adverse
				witness because of his or her relationship to any party, and examine the person
				as an adverse witness.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.906 - Representation of parties; qualifications of attorneys

Current through June 11, 2024
1. A party may appear in person or as
				provided in subsection 2, or may be represented by an attorney, accountant or
				authorized representative.
2. A
				party, if other than a natural person, may appear:
(a) If a partnership, by a partner.
(b) If a corporation, by an officer or other
				authorized representative or regular employee.
(c) If a local government, by an authorized
				officer, agent or employee.
(d) If
				an unincorporated association, by an authorized representative, officer or
				employee.
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.908 - Hearings: Notice; location; telephone conference; duties of representatives; conduct required

Current through June 11, 2024
1. Except as
				otherwise provided in subsection 5, not less than 10 days before the date set
				for a hearing, the staff shall serve notice of the place, date and time of the
				hearing on each party or the authorized agent of a party at the address of the
				party or authorized agent as it appears in the records of the
				Department.
2. The staff shall
				notify the appropriate representative of a party regarding a hearing which may
				have a direct effect upon a matter within the representative's scope of
				authority. The representative shall:
(a)
				Attend any hearing specified in this subsection, unless otherwise directed by
				the Committee; and
(b) Make any
				presentation prescribed by the Committee, Director or hearing
				officer.
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.910 - Prehearing conferences

Current through June 11, 2024
1. Upon the motion
				of the Committee, the hearing officer or a party, the Committee or hearing
				officer may hold a prehearing conference for the purpose of formulating or
				simplifying the issues, obtaining admissions of fact or documents which will
				avoid unnecessary proof, arranging for the exchange of proposed exhibits or
				prepared expert testimony, limiting the number of witnesses, establishing any
				hearing procedure or determining any other matters which may expedite the
				orderly conduct and disposition of the proceeding or settlement of the
				proceeding.
2. The action taken at
				a prehearing conference and the agreements, admissions or stipulations made by
				the parties concerned must be made a part of the record and must be approved by
				the parties. When approved, the action will control the course of subsequent
				proceedings, unless otherwise stipulated to by all the parties of record with
				the consent of the Committee or hearing officer.
3. In any proceeding, the Committee or
				hearing officer may, at the discretion of the Committee or hearing officer,
				call all of the parties together for a conference before the taking of
				testimony. The Committee or hearing officer shall state on the record the
				results of the conference.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.912 - Continuances; recesses

Current through June 11, 2024
The Committee or hearing officer may, at the discretion of
				  the Committee or hearing officer, either before or during a hearing, grant
				  continuances or recesses.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.914 - Failure of party to appear

Current through June 11, 2024
At the time and place set for a hearing, if a party fails to
				  appear, the Committee or hearing officer may, at the discretion of the
				  Committee or hearing officer, dismiss the proceeding with or without prejudice
				  or may recess the hearing for a period of time to be set by the Committee or
				  hearing officer to enable the party to attend.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.916 - Burden of proof or explanation

Current through June 11, 2024
Any party required to appear before the Committee pursuant
				  to:
1.NRS NRS
				NRS
				354.665 to explain the reason that a document
				has not been filed has the burden of proving that the document was filed as
				required or providing an explanation satisfactory to the Committee of the
				reason that the document was not filed as required.
2.NRS NRS
				NRS
				354.671 to explain the reason that a payment
				has not been made has the burden of proving that the payment was made as
				required or providing an explanation satisfactory to the Committee of the
				reason that the payment was not made as required.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.918 - Presentation of evidence

Current through June 11, 2024
Evidence may be received in any manner ordered by the
				  Committee or hearing officer, but will ordinarily be received from the parties
				  in the following order:
1. Brief
				orientation by the staff;
2. Each
				party;
3. The staff;
4. Interveners; and
5. Rebuttal by each party.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.920 - Admission of evidence; depositions; affidavits

Current through June 11, 2024
1. In
				conducting a hearing, the Committee or hearing officer is not bound by
				technical rules of evidence. Any relevant evidence may be admitted, except
				where precluded by law, if it is of a type commonly relied upon by reasonable
				and prudent persons in the conduct of their affairs, even though the evidence
				might be subject to objection in civil actions.
2. Oral evidence may be taken only upon oath
				or affirmation administered by the hearing officer, the Director, a deputy
				attorney general or a member of the Committee. Before taking the witness stand,
				each person must swear or affirm that the testimony the person is about to give
				will be the truth, the whole truth and nothing but the truth.
3. Hearsay evidence, as that term is used in
				civil actions, may be admitted for the purpose of supplementing or explaining
				other evidence, but it is not sufficient to support findings of fact unless it
				would be admissible over objection in civil actions.
4. The rules of privilege must be applied as
				they are applied in civil actions.
5. Irrelevant, cumulative and unduly
				repetitious evidence is not admissible, nor is incompetent evidence, as that
				term is used in civil actions, with the exception of hearsay evidence as
				provided in subsection 3.
6. The
				parties or their counsel may by written stipulation agree that certain
				specified evidence may be admitted, even though the evidence would otherwise be
				subject to objection.
7. The
				Committee, the hearing officer or any party to a proceeding may cause the
				depositions of witnesses to be taken in such a manner as the Committee or
				hearing officer may prescribe which is consistent with the rules of the court
				for depositions in civil actions in the district courts.
8. The affidavit of any person may be
				admitted in evidence if all the parties stipulate and consent to its
				admission.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.922 - Official notice

Current through June 11, 2024
The Committee or hearing officer may take official notice of
				  the following matters:
1. Rules,
				regulations, official reports, decisions and orders of the Committee and any
				regulatory agency of the State.
2.
				Matters of common knowledge and technical or scientific facts of established
				character.
3. Official documents,
				if pertinent, when properly introduced into the record of formal proceedings by
				reference, if proper and definite reference to the document is made by the
				party offering it and it is published and generally circulated so that all of
				the parties of interest at the hearing have an opportunity to examine it and
				present rebuttal evidence.
4.
				Matters which may be judicially noticed by the courts of the State.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.924 - Briefs

Current through June 11, 2024
1. In any proceeding, the Committee, Director
				or hearing officer may order briefs filed within such time as the Committee,
				Director or hearing officer allows.
2. Briefs must be filed with the Director or
				hearing officer and be accompanied by an acknowledgment of or an affidavit
				showing service on all other parties of record.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.926 - Orders for information

Current through June 11, 2024
The Committee may order any information it deems necessary to
				  determine the matters before it.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.928 - Hearing officer: Proposed decision; findings and conclusions

Current through June 11, 2024
1. Not later than 60 days after the close of
				a hearing conducted by a hearing officer, the hearing officer shall file with
				the Committee a proposed decision that sets forth the findings and conclusions
				of the hearing officer and the reasons and bases for those findings and
				conclusions. The proposed decision must be served on each party.
2. The findings and conclusions of a hearing
				officer are not required to be included in a stipulated agreement.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.930 - Proposed decision of hearing officer: Written objection; reply to objection; action by Committee

Current through June 11, 2024
1. Except as
				otherwise provided in this subsection, a party may file with the Committee a
				written objection to the proposed decision of a hearing officer not later than
				20 days after receipt of the proposed decision. The written objection must
				state with particularity the issues presented, the points of law or fact on
				which the party relies and the relief requested by the party. The Committee
				may, upon good cause shown, allow a party to file a written objection with the
				Committee more than 20 days after receipt of a proposed decision.
2. A party who files a written objection
				shall serve a copy of the written objection on all parties.
3. Except as otherwise provided in this
				subsection, a party may reply to a written objection not later than 15 days
				after receipt of the written objection. A party replying to a written objection
				must serve the reply on all parties. The Director may, upon good cause shown,
				grant an extension of time for a party to file a reply to a written
				objection.
4. If no party files a
				written objection pursuant to subsection 1, the Committee will place the
				proposed decision on the agenda for its next scheduled meeting for action by
				the Committee.
5. If a party files
				a written objection pursuant to subsection 1 within 20 days after receipt of
				the proposed decision or if the Committee chooses to take any action concerning
				the review of the proposed decision, other than to remand the proposed decision
				to the hearing officer for clarification of the decision, the Committee will
				hold a hearing on the proposed decision. The Committee will provide notice of
				the hearing to the parties not later than 15 days before the hearing, unless
				the parties waive the notice in writing or on the record before the
				Committee.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.932 - Hearing before Committee: Basis on record before hearing officer; determination that record is inadequate

Current through June 11, 2024
The hearing held before the Committee pursuant to NAC 354.930
				  must be based on the record made before the hearing officer. If the Committee
				  determines the record is inadequate, the Committee may remand the matter to the
				  hearing officer for further proceedings or open the record and hear new
				  evidence.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.934 - Hearing before Committee: Action by Committee; issuance of written order

Current through June 11, 2024
1. After the close of oral argument, the
				Committee will:
(a) Make a final decision that
				adopts, reverses or modifies, in whole or in part, the proposed decision of the
				hearing officer; or
(b) Remand the
				matter to the hearing officer for further proceedings.
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.936 - Final decision of Committee

Current through June 11, 2024
1. The staff shall,
				pursuant to the direction and with the approval of the Committee, prepare the
				Committee's final decision on the issues presented in a hearing conducted by
				the Committee. The draft of each decision must be approved by the Chair of the
				Committee before being issued.
2.
				The Committee's final decision will be written and will include separate
				findings and conclusions based upon substantial evidence or matters officially
				noticed. After the hearing is completed, the Committee may request a party to
				prepare proposed findings and conclusions.
3. The staff shall serve a copy of the
				Committee's final decision on each party of record.
Added to NAC by Com.
				  on Local Gov't Finance by R042-09, eff. 6-30-2010
NRS 354.107
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.938 - Petition for reconsideration: Grounds; filing and contents; answer; grant or denial

Current through June 11, 2024
1. A party who
				believes that a decision of the Committee, or any portion thereof, is:
(a) Unlawful;
(b) Unreasonable; or
(c) Based on findings or conclusions that are
				erroneous, may file a petition for reconsideration. The petition must be filed
				with the Committee and served on all parties within 15 days after the date of
				service of the decision.
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.940 - Advisory opinions: Petition

Current through June 11, 2024
1. Any person may
				petition for an advisory opinion concerning matters within the jurisdiction of
				the Committee.
2. All petitions
				must be in writing, be addressed to the Director and set forth at least the
				following:
(a) A statement that an advisory
				opinion is requested;
(b) A
				succinct statement of all the facts and circumstances necessary to dispose of
				the petition;
(c) A clear, simple
				statement of the issue or question to be resolved;
(d) A statement of all statutes, rules,
				agency decisions or other authorities which the petitioner believes may be
				relevant in disposing of the petition; and
(e) A statement with supporting arguments and
				authorities of the petitioner's opinion of a proper disposition of the
				petition.
Nevada Administrative Code › Chapter 354 - Local Financial Administration › DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIAL ASSISTANCE; SEVERE FINANCIAL EMERGENCY › Proceedings Before the Committee on Local Government Finance › Section 354.942 - Advisory opinions: Form; contents; issuance; delivery; appeals

Current through June 11, 2024
1. Advisory opinions must:
(a) Be written;
(b) Include a statement of facts, question,
				analysis and opinion;
(c) Be issued
				by the Director within 45 days after the filing of the petition unless the
				Director in writing orders an extension of time up to a maximum of 60 days
				after filing; and
(d) Be delivered
				to the petitioner in person or by certified mail.
Nevada Administrative Code › Chapter 354 - Local Financial Administration › Section 354.Sec. 1 - NEW

Current through June 11, 2024
1. The written
		  notice of the Department that a local government has been placed on fiscal
		  watch provided pursuant to NRS 354.675  must include, without limitation, a
		  request for any documentation necessary to monitor and determine the severity
		  of the conditions identified in paragraphs (a) to (aa), inclusive, of
		  subsection 2 of NRS 354.685  which the Department has found to exist in the
		  local government. During the period the local government is on fiscal watch,
		  the Department and the Committee may make additional written requests for
		  documentation as needed to monitor such conditions or to provide technical
		  financial assistance. The documentation which the Department and the Committee
		  are authorized to request includes, without limitation:
(a) A projected timeline for the submittal of
		  reports and documentation;
(b)
		  Amended final budgets, including, without limitation, budgets impacted by
		  recent legislation;
(c) Monthly
		  projected expenditures and revenues by fund and fund type for a period of not
		  less than 2 years;
(d) Monthly
		  historical expenditures and revenues by fund and fund type for a period of not
		  less than 2 years;
(e) Projected
		  monthly cash flows for a period of not less than 2 years after the date that
		  the local government is placed on fiscal watch;
(f) A projected timeline for an annual
		  audit;
(g) A projected timeline for
		  corrective actions on any audit findings as addressed in the final audit of the
		  local government;
(h) Quarterly
		  budget compared to actual revenues and expenditures by fund and fund
		  type;
(i) Monthly bank
		  reconciliations;
(j) A plan of
		  action to correct the conditions noted in the written notice of fiscal
		  watch;
(k) Proof that the notice of
		  fiscal watch and a plan of corrective action were presented to the governing
		  body of the local government as reflected in the minutes of the governing body,
		  which proof must be provided in the form of such minutes;
(l) Live testimony of the officers of the
		  local government, including, without limitation, elected officers, who shall
		  appear before the Committee, if requested; and
(m) Other reports or documentation as deemed
		  necessary by the Department or the Committee.
Nevada Administrative Code › Chapter 355 - Public Investments › Section 355.Sec. 1 - NEW

Current through June 11, 2024
The Board shall ensure that no initial single investment or
			 position in a business exceeds 25 percent of the total amount of funds
			 available to the Corporation.
Added
			 to NAC by St. Bd. of Finance by
			 R046-23A,
			 eff. 1/5/2024
NRS
				355.285
Nevada Administrative Code › Chapter 355 - Public Investments › INVESTMENTS AND LOANS BY LOCAL GOVERNMENTS › Section 355.100 - Loans from investment portfolios of certain cities or consolidated municipalities

Current through June 11, 2024
1. The State Board
			 of Finance will not authorize the governing body of a city or consolidated
			 municipality whose population is 25,000 or more but less than 150,000 to lend
			 securities from its investment portfolio pursuant to
			 NRS
			 355.178 unless the city or consolidated
			 municipality:
(a) Has adopted a written policy
			 for investment which:
(1) Sets forth the
			 procedures to be used for such lending; and
(2) Has been approved by the State Board of
			 Finance; and
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.200 - Definitions

Current through June 11, 2024
As used in NAC
				355.200 to
				355.340, inclusive, and section
				1, unless the context otherwise requires, the words and terms defined in NAC
				355.210 and
				355.220 have the meanings
				ascribed to them in those sections.
Added to NAC by St.
				Treasurer by R128-11, eff. 2-20-2013; A by
				R046-23A,
				eff. 1/5/2024
NRS 355.285
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.220 - "Corporation" defined

Current through June 11, 2024
"Corporation" means the Nevada Capital Investment Corporation
				formed by the State Treasurer pursuant to subsection 1 of
				NRS
				355.270.
Added to NAC by St.
				Treasurer by R128-11, eff. 2-20-2013
NRS
				  355.285
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.230 - "Fund of Funds Manager" defined (Repealed)

Current through June 11, 2024
Added to NAC by St.
				Treasurer by R128-11, eff. 2-20-2013; R by
				R046-23A,
				eff. 1/5/2024
NRS 355.285
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.240 - Corporation: Name; governance and officers; quorum; majority vote required to exercise power or function

Current through June 11, 2024
1. The name of the
			 corporation for public benefit formed by the State Treasurer pursuant to
			 subsection 1 of
			 NRS
			 355.270 is the Nevada Capital Investment
			 Corporation.
2. The Corporation
			 must be governed by the Board appointed pursuant to subsection 2 of
			 NRS
			 355.270. The Chair of the Board is the State
			 Treasurer, and the Vice Chair is the member appointed by the Governor pursuant
			 to subparagraph (1) of paragraph (a) of subsection 2 of
			 NRS
			 355.270.
3. A majority of the members of the Board who
			 are currently serving constitutes a quorum for the transaction of business at a
			 meeting of the Board.
4. The
			 affirmative vote of a majority of the members of the Board present at a meeting
			 at which a quorum is present, with the State Treasurer voting with the
			 majority, is necessary to exercise a power or function of the Board.
Added to NAC by St.
				Treasurer by R128-11, eff. 2-20-2013
NRS
				  355.285
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.250 - Business Leadership Council: Establishment; members; powers

Current through June 11, 2024
1. Pursuant to
			 subsection 4 of NRS
			 355.285, the Business Leadership Council is
			 hereby established.
2. The Board
			 may appoint to the Business Leadership Council leaders of businesses located in
			 this State and representatives of business development groups in this State.
			 The Board may appoint up to nine members of the Council as it deems
			 appropriate.
3. The Business
			 Leadership Council may:
(a) Provide strategic
			 advice and guidance to the Board.
(b) Nurture and mentor businesses seeking or
			 receiving an investment from the Corporation.
(c) Provide businesses seeking or receiving
			 an investment from the Corporation with access to the local and international
			 business relationships of the members of the Council.
(d) Collaborate with the Nevada System of
			 Higher Education, other educational institutions and the Board to develop
			 internship programs pursuant to which students are partnered with businesses in
			 which the Corporation invests.
(e)
			 Establish any subcommittees necessary to carry out the business of the Council,
			 as specified by the Board.
(f)
			 Provide any other support requested by the Board or the officers of the
			 Corporation to further the goals of the Corporation.
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.260 - Confidentiality of information

Current through June 11, 2024
A member of the Board or an officer, employee or agent of the
				Corporation shall not disclose financial or proprietary information of a
				business seeking or receiving an investment from the Corporation, or otherwise
				related to the investments of the Corporation, without the consent of the
				person or entity that submitted the information, unless:
1. The information is disclosed to:
(a) A member of the Board; or
(b) An officer, employee or agent of the
			 Corporation who needs to know the information to carry out his or her duties;
			 or
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.270 - Duties of Board

Current through June 11, 2024
The Board shall:
1.
			 Adopt a policy concerning the appropriate training of workers and the payment
			 of fair wages and benefits by contractors retained by a business in which the
			 Corporation directly invests. The officers of the Corporation shall prepare and
			 submit to the Board a draft of such a policy. In drafting the policy, the
			 officers of the Corporation shall:
(a) Define
			 "appropriate training of workers" and "fair wages and benefits" in such a
			 manner that recognizes the practicalities of all markets.
(b) Define "fair wages and benefits" based
			 upon the following criteria:
(1) The nature of
			 a project;
(2) The nature of the
			 jobs or trades required for a project and comparable job or trade
			 classifications;
(3) The scope and
			 complexity of the work; and
(4) Any
			 other factors affecting the relevant markets in the locality in which the
			 business receiving an investment is located.
(c) Consider local practices concerning
			 specific trades and types of projects to determine a practical standard for
			 determining fair wages in lieu of the standard wage paid for such trade and
			 projects. In addition, the policy may require a business in which the
			 Corporation invests to engage in broad outreach and a competitive bidding
			 process which invites local trades to suggest contractors whom the local trades
			 believe to be responsible and qualified for a specific project.
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.280 - Duties of officers of Corporation

Current through June 11, 2024
The officers of the Corporation shall:
1. Maintain custody of all funds, securities,
			 contracts, bills of exchange and promissory notes of the Corporation, and any
			 assignments of property or money, stocks, bonds, certificates, vouchers, deeds,
			 evidences of indebtedness, indentures and any other property belonging to, or
			 owed by, the Corporation.
2. Carry
			 out the investments of the Corporation by transferring money from the State
			 Permanent School Fund to external asset managers with whom the Corporation is
			 placing investments.
3. On behalf
			 of the Corporation, sign all papers required by law, the bylaws of the
			 Corporation or the Board, or designate a signatory to sign such
			 papers.
4. On behalf of the
			 Corporation, endorse for collection checks, notes and other
			 obligations.
5. Deposit all money
			 to the credit of the Corporation in the banks or depository institutions
			 designated by the Board.
6. Sign
			 all receipts and vouchers for payment made by the Corporation.
7. Enter regularly into the books of the
			 Corporation full and accurate accounts of all money received and paid by the
			 Corporation and, whenever requested by the Board, render a statement of the
			 cash account of the Corporation.
8.
			 Upon reasonable notice and during business hours, provide access to the books
			 of account of the Corporation to a member of the Board who requests such
			 access.
9. If required by the
			 Board, give bond to the Corporation conditioned on the faithful performance of
			 the officer's duties in such a sum, and with such security, as required by the
			 Board. The Corporation shall bear the expense of such a bond.
10. Keep the minutes of all meetings of the
			 Board in accordance with chapter 241 of NRS.
11. If designated by the Board, attend, act
			 and vote at a meeting of the stockholders of a corporation in which the
			 Corporation holds stock. At such a meeting, the officer designated by the Board
			 possesses and may exercise any rights and powers incident to the ownership of
			 such stock.
12. Perform any other
			 duties established by the bylaws of the Corporation.
Added to NAC by St.
				Treasurer by R128-11, eff. 2-20-2013; A by
				R046-23A,
				eff. 1/5/2024
NRS 355.285
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.290 - Standard of conduct in discharge of duties and making decisions concerning investments; conflicts of interest; Corporation may not finance or influence political activities

Current through June 11, 2024
1. Members of the
			 Board and officers, employees and agents of the Corporation shall discharge the
			 duties of their respective positions in a nonpartisan manner, in good faith and
			 with the degree of diligence, care and skill which an ordinarily prudent person
			 would exercise in a similar position under similar circumstances. In
			 discharging their duties, members of the Board and officers, employees and
			 agents of the Corporation may rely on:
(a) An
			 opinion of legal counsel for the Corporation concerning matters reasonably
			 believed to be within the professional competence of the legal
			 counsel.
(b) A report of an
			 independent auditor selected by the Board who provides a report on matters
			 reasonably believed to be within the professional competence of the
			 auditor.
(c) Financial statements
			 of the Corporation which the officer of the Corporation having charge of the
			 books or accounts of the Corporation represents to be correct or which a
			 certified public accountant has certified in writing to reflect fairly the
			 financial condition of the Corporation.
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.300 - Authorized sources of money; agreements with public or private investors; restriction on acceptance of certain investments

Current through June 11, 2024
1. The
			 Corporation may obtain money from:
(a) The
			 State Permanent School Fund which is transferred to the Corporation by the
			 State Treasurer pursuant to
			 NRS
			 355.280.
(b) Subject to the requirements of
			 subsections 2 and 3, investments from the Nevada System of Higher Education and
			 other public entities and investments from private individuals, organizations
			 and businesses.
(c) Gifts, grants
			 and donations from any source.
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.310 - Fund of Funds Manager: Selection; duties; fee structure (Repealed)

Current through June 11, 2024
Added to NAC by St.
				Treasurer by R128-11, eff. 2-20-2013; R by
				R046-23A,
				eff. 1/5/2024
NRS 355.285
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.320 - Use of earnings of certain funds to defray fees of Fund of Funds Manager (Repealed)

Current through June 11, 2024
Added to NAC by St.
				Treasurer by R128-11, eff. 2-20-2013; R by
				R046-23A,
				eff. 1/5/2024
NRS 355.285
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.330 - Requirements relating to private equity funds in which Corporation invests

Current through June 11, 2024
1. Funds in which the Corporation invests:
(a) May include qualified private equity
			 funds or other investment funds with an emphasis in venture capital, growth
			 capital, buyout investments, mezzanine financing, distressed debt or secondary
			 investments in private equity.
(b)
			 Must be managed by persons who have at least 10 years of:
(1) Experience in commercial banking, private
			 equity investing, mezzanine funding or venture capital; or
(2) Other relevant investment
			 experience.
Nevada Administrative Code › Chapter 355 - Public Investments › NEVADA CAPITAL INVESTMENT CORPORATION › Section 355.340 - Placement of investments and co-investments; commitment of money for investment opportunities; policies and procedures governing investments

Current through June 11, 2024
1. Subject to the requirements of this
			 section, upon the approval of a majority of the members of the Board currently
			 serving, with the State Treasurer being in the majority, the Corporation shall:
(a) Place direct investments and
			 co-investments with companies, strategic investors, private equity funds,
			 venture capital funds and other fund managers.
(b) Commit money for unique private equity
			 investment opportunities in this State.
Nevada Administrative Code › Chapter 355 - Public Investments › INVESTMENTS IN COMPANIES WHICH BOYCOTT ISRAEL › Section 355.500 - Publicly available information State Treasurer will review and rely upon in identifying scrutinized companies

Current through June 11, 2024
The publicly available information regarding companies which
				are engaging in a boycott of Israel that the State Treasurer will review and
				rely upon as required by
				NRS
				355.335 includes, without limitation:
1. Information obtained through asset
			 managers with whom the State Treasurer has entered into a contract;
2. Information obtained through an investment
			 of the State Treasurer in conjunction with other institutions or organizations,
			 including, without limitation, a mutual fund or commingled trust
			 fund;
3. Information obtained
			 through institutional investors that have divested from or engaged with
			 companies that have economic prohibitions against Israel;
4. Any list of companies who are engaging in
			 a boycott of Israel that has been created by a governmental entity;
			 and
5. Any information or guidance
			 from the Federal Government relating to companies who are engaging in a boycott
			 of Israel.
Added to NAC
				by St. Bd. of Finance by
				R141-18A,
				eff. 8/21/2019
NRS
				355.350
Nevada Administrative Code › Chapter 355 - Public Investments › INVESTMENTS IN COMPANIES WHICH BOYCOTT ISRAEL › Section 355.505 - Initial identification of scrutinized company; notice; written response; effect of failure to file response; determination on response

Current through June 11, 2024
1. Upon reviewing
			 publicly available information regarding companies which are engaging in a
			 boycott of Israel, the State Treasurer will initially identify any company in
			 which a public fund has direct holdings or indirect holdings that appears to be
			 a scrutinized company.
2. Within 30
			 days after the date on which the State Treasurer initially identifies a company
			 as a scrutinized company pursuant to subsection 1, the State Treasurer will
			 provide written notice to the company of that initial identification. Such
			 notice will be sent by registered mail to the legal address of the company and
			 will include, without limitation:
(a) A
			 statement of the reasons why the State Treasurer initially identified the
			 company as a scrutinized company;
(b) Notice that final identification of the
			 company as a scrutinized company will result in inclusion of the company on the
			 list of all scrutinized companies created pursuant to subsection 2 of
			 NRS
			 355.335; and
(c) Notice that inclusion of the company on
			 the list of all scrutinized companies created pursuant to subsection 2 of
			 NRS
			 355.335 may:
(1) Result in the sale, redemption,
			 divestment or withdrawal of all direct holdings of the company by the State
			 Treasurer from the assets under his or her management; and
(2) Prohibit the State Treasurer from
			 acquiring securities of the company as part of the direct holdings of the
			 Office of the State Treasurer.
Nevada Administrative Code › Chapter 355 - Public Investments › INVESTMENTS IN COMPANIES WHICH BOYCOTT ISRAEL › Section 355.510 - Notice of appeal by scrutinized company; hearing; effect of reversal or affirmation of determination

Current through June 11, 2024
1. Within 10 days
			 after the date on which a company received notice of the determination that it
			 was identified as a scrutinized company pursuant to subsection 5 of NAC
			 355.505, the company may file a
			 notice of appeal of the determination with the State Treasurer. A notice of
			 appeal must include, without limitation, a written statement of any reason why
			 the company believes that it is not a scrutinized company and any evidence that
			 substantiates its written statement.
2. Within 20 days after the date on which the
			 State Treasurer receives a notice of appeal pursuant to subsection 1, the State
			 Treasurer or his or her designee will hold a hearing on the appeal. The State
			 Treasurer or his or her designee will serve as the hearing officer for such a
			 hearing.
3. If the State Treasurer
			 or his or her designee reverses the determination on appeal, the company:
(a) Will not be identified as a scrutinized
			 company; and
(b) If the company
			 has been included on the list of scrutinized companies created pursuant to
			 NRS
			 355.335, will be removed from that list not
			 later than 10 days after the date on which the appeal was upheld.
Nevada Administrative Code › Chapter 355 - Public Investments › INVESTMENTS IN COMPANIES WHICH BOYCOTT ISRAEL › Section 355.515 - Removal of company from list of scrutinized companies: Procedure; request; submission of evidence; notice of determination; effect of removal from list

Current through June 11, 2024
1. A scrutinized
			 company may be removed from the list of scrutinized companies created pursuant
			 to
			 NRS
			 355.335:
(a) By the State Treasurer after a review of
			 publicly available information during the annual update of the list as required
			 by subsection 3 of
			 NRS
			 355.335; or
(b) Upon request of the scrutinized company
			 and a determination by the State Treasurer pursuant to the procedure set forth
			 in subsections 2 and 3.
Nevada Administrative Code › Chapter 355 - Public Investments › INVESTMENTS IN COMPANIES WHICH BOYCOTT ISRAEL › Section 355.520 - Factors for consideration by State Treasurer when determining whether to adopt certain findings

Current through June 11, 2024
When determining whether to adopt the findings described in
				subsection 2 of
				NRS
				355.345, the State Treasurer will consider,
				without limitation, investment safety, liquidity and securing a just and
				reasonable investment return while avoiding undue risk.
Added to NAC
				by St. Bd. of Finance by
				R141-18A,
				eff. 8/21/2019
NRS
				355.350
Nevada Administrative Code › Chapter 355 - Public Investments › INVESTMENTS IN COMPANIES WHICH BOYCOTT ISRAEL › Section 355.525 - Duties of State Treasurer to monitor direct investment of assets and take certain action based on maturity date of investment

Current through June 11, 2024
Except as otherwise provided in subsection 2 of
				NRS
				355.345, if the maturity date of any direct
				investment of assets under the management of the State Treasurer:
1. Does not extend more than 3 months after
			 the date on which a company is identified as a scrutinized company, the State
			 Treasurer will monitor the investment until the date on which the security
			 matures and not extend or reinvest with the scrutinized company until the
			 company is no longer identified as a scrutinized company.
2. Extends more than 3 months after the date
			 on which a company is identified as a scrutinized company, the State Treasurer
			 will analyze the complexity of the investment and develop a divestment plan.
			 Such a plan will be based on prudent divestment strategy that preserves the
			 principal value of the investment.
Added to NAC
				by St. Bd. of Finance by
				R141-18A,
				eff. 8/21/2019
NRS
				355.350
Nevada Administrative Code › Chapter 356 - Depositories of Public Money and Securities › Section 356.010 - Definitions

Current through June 11, 2024
As used in NAC 356.010 to 356.180, inclusive, unless the context otherwise requires, the words and terms defined in NAC 356.020 to 356.090, inclusive, have the meanings ascribed to them in those sections.
Added to NAC by St. Treasurer by R028-04, eff. 6-30-2004
NRS 356.390
Nevada Administrative Code › Chapter 356 - Depositories of Public Money and Securities › Section 356.020 - "Acceptable securities" defined

Current through June 11, 2024
"Acceptable securities" has the meaning ascribed to it in subsection 2 of NRS 356.360.
Added to NAC by St. Treasurer by R028-04, eff. 6-30-2004
NRS 356.390
Nevada Administrative Code › Chapter 356 - Depositories of Public Money and Securities › Section 356.030 - "Collateral pool" defined

Current through June 11, 2024
"Collateral pool" means the method of securing the repayment of the uninsured balances of the deposits of a participating public depositor at a depository through the total collateral pledged at a third-party depository for the uninsured balances of the deposits of all participating public depositors.
Added to NAC by St. Treasurer by R028-04, eff. 6-30-2004
NRS 356.390
Nevada Administrative Code › Chapter 356 - Depositories of Public Money and Securities › Section 356.050 - "File transfer protocol" defined

Current through June 11, 2024
"File transfer protocol" means the communications protocol approved by the State Treasurer governing the transfer of files from the computer of a public depositor, depository or third-party depository to a computer at the Office of the State Treasurer over a network.
Added to NAC by St. Treasurer by R028-04, eff. 6-30-2004
NRS 356.390
Nevada Administrative Code › Chapter 356 - Depositories of Public Money and Securities › Section 356.080 - "Public money" defined

Current through June 11, 2024
"Public money" has the meaning ascribed to it in NRS 356.330. The term includes, without limitation, savings deposits and demand deposits.
Added to NAC by St. Treasurer by R028-04, eff. 6-30-2004
NRS 356.390
Nevada Administrative Code › Chapter 356 - Depositories of Public Money and Securities › Section 356.100 - Adoption by reference of Operating Circulars of Federal Reserve Banks

Current through June 11, 2024
1. The State Treasurer hereby adopts by reference the Operating Circulars of the Federal Reserve Banks. These publications are available, free of charge, from the Federal Reserve Bank of Boston, 600 Atlantic Avenue, Boston, Massachusetts 02210.
2. The State Treasurer will periodically review the Operating Circulars and determine within 30 days after the review whether any change made to a Circular is appropriate for application in this State. If the State Treasurer does not disapprove a change to a Circular within 30 days after the review, the change is deemed to be adopted by the State Treasurer.
Added to NAC by St. Treasurer by R028-04, eff. 6-30-2004
NRS 356.350, 356.390
Nevada Administrative Code › Chapter 356 - Depositories of Public Money and Securities › Section 356.110 - Collateral pools: General requirements for participation by public depositor

Current through June 11, 2024
1. To participate in a collateral pool at a depository, a public depositor must notify the depository on a form approved by the State Treasurer. The public depositor must provide a copy of the notice to the State Treasurer.
2. Within 5 business days after receipt of the notice described in subsection 1, the depository shall provide to the public depositor a list of the names and titles of all the accounts maintained by the public depositor at the depository. The public depositor shall review the list and, within 5 business days after receipt of the list, notify the depository of any inaccurate or incomplete information relating to the accounts of the public depositor at the depository.
3. Within 5 business days after submission of the form described in subsection 1 to the depository, the public depositor shall provide to the depository written authorization to:
(a) Request any third-party depository that holds collateral pledged on behalf of the public depositor to release all such collateral to the depository; and
(b) Repledge the securities for the benefit of the State Treasurer at the third-party depository selected by the depository.