NAC685A.400. Deposit or investment of money; audit of accounts.

     1. The money maintained by an organization must be:

     (a) Deposited in a bank chartered by this State;

     (b) Deposited in a bank that is a member of the United States Federal Reserve System;

     (c) Invested in public obligations as described in NRS 682A.060; or

     (d) Invested in federal agency securities as described in NRS 682A.070.

     2. The board of directors shall engage a certified public accountant to audit the accounts of the organization and prepare an audit report before the annual meeting of the board, or more often if necessary or required by the Commissioner.

     (Added to NAC by Comm’r of Insurance, eff. 3-20-96; A by R090-03, 10-30-2003)