NAC353B.665. Distributions: Procedure; classification; restriction.

     1. An account owner may request a distribution of money from the account by submitting to the Plan Investment Manager not less than 3 business days before the date of the requested distribution a completed distribution request form and such other information as required by the Board or a Plan Investment Manager. The Plan Investment Manager will begin processing properly completed distribution request forms upon receipt. A designated beneficiary may not withdraw money from an account.

     2. A distribution from an account will be classified as a:

     (a) Nonqualified withdrawal;

     (b) Qualified withdrawal;

     (c) Qualified withdrawal because of the death or disability of, or a scholarship awarded to, a beneficiary; or

     (d) Rollover distribution.

     3. A distribution may only be arranged by the account owner and only in accordance with NAC 353B.665 to 353B.695, inclusive.

     (Added to NAC by St. Treasurer by R185-01, eff. 4-5-2002; A by R054-09, 10-27-2009)