235.150 - Nevada Gift and Endowment Fund. - Nevada Statutes

235.150  Nevada Gift and Endowment Fund.

      1.  The Nevada Gift and Endowment Fund is hereby created as a trust fund in the State Treasury.

      2.  The State Treasurer shall deposit in the Fund any money the State Treasurer receives from any person who wishes to contribute to the Fund as a token of appreciation for the benefits the person received as a resident of or visitor to this State or to further the excellent quality of life which is unique to this State.

      3.  The Fund must be administered by a committee consisting of the Governor, the State Treasurer and the Secretary of State.

      4.  The Fund must only be used for the greatest good and highest benefit of the majority of the residents of this State. Any interest earned on money in the Fund must be credited to the Fund. The money which represents the principal of the Fund must not be spent, and only the interest earned on the principal may be used to carry out the provisions of this section.

      5.  During the last week of each October, in conjunction with the celebration of Nevada Day, the Governor shall issue a proclamation declaring the existence of the Fund and the uses and benefits thereof.

      (Added to NRS by 1987, 1677)