NAC355.240. Corporation: Name; governance and officers; quorum; majority vote required to exercise power or function.

     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)