NRS 353B.155
Duty of Board to promote and market use of Trust Fund and solicit certain opinions

  • authority to limit qualified beneficiaries.

1.

The Board shall actively promote and market use of the Trust Fund.

2.

The Board shall, before it enters into a prepaid tuition contract with a purchaser, solicit the opinion of:

(a)

The Securities and Exchange Commission regarding the application of federal law regarding securities to the Trust Fund; or

(b)

An independent legal counsel to ensure that the method of structuring and offering the Trust Fund is in compliance with federal law regarding securities.

3.

The Board may:

(a)

Require a reasonable length of residence in the State to become a qualified beneficiary.

(b)

Restrict the number of qualified beneficiaries.

Source: Section 353B.155 — Duty of Board to promote and market use of Trust Fund and solicit certain opinions; authority to limit qualified beneficiaries., https://www.­leg.­state.­nv.­us/NRS/NRS-353B.­html#NRS353BSec155.

Last Updated

Feb. 5, 2021

§ 353B.155’s source at nv​.us