NAC695D.250. Investment of money.

     1. An organization may invest its money only in cash, cash equivalents or the securities described in NRS 682A.060 and 682A.190.

     2. Any investment made by an organization:

     (a) Must be authorized or ratified by its board of directors or by a committee charged with the supervision of such investments;

     (b) Must be interest-bearing, interest-accruing, entitled to dividends or otherwise produce income;

     (c) Must not be in default in any respect;

     (d) Must not be purchased at a price above its fair or market value; and

     (e) Must comply with the provisions of NRS 682A.050, to the extent those provisions are applicable.

     3. An organization may receive for its use and benefit the interest or other income accruing on its investments.

     (Added to NAC by Comm’r of Insurance, eff. 12-2-88)