233C.100 - Creation; administration. [Expires by limitation if the Trustee fails to accept administration of the Account or fails to administer the Account after acceptance.] - Nevada Statutes

233C.100  Creation; administration. [Expires by limitation if the Trustee fails to accept administration of the Account or fails to administer the Account after acceptance.]

      1.  The Account for Local Cultural Activities is hereby created in the State General Fund. The Account must be administered by the Trustee of the Music Performance Trust Funds, 1501 Broadway, New York City, New York.

      2.  If the Trustee signifies acceptance in writing to the Secretary of State and furnishes a copy of that acceptance to the State Controller, money from the Account must be paid out on claims by the Trustee as other claims against the State are paid.

      (Added to NRS by 1987, 1788; A 1991, 1757)