349.910 - General powers of Director; promotion of funds for venture capital; liberal construction. - Nevada Statutes

349.910  General powers of Director; promotion of funds for venture capital; liberal construction.

      1.  The Director has all the powers necessary to accomplish the purposes set forth in NRS 349.900 to 349.929, inclusive, but these powers must be exercised for the health, safety, convenience, prosperity and welfare of the inhabitants of this state and for the economic diversification and development of the State and the marketing and development of tourism.

      2.  Within the limits of the financial resources available to the Director, and without issuing bonds, the Director may promote the establishment of any privately financed fund for venture capital designed to accomplish the legislative goals set forth in NRS 349.900 or to assist the Director in achieving the purposes of NRS 349.900 to 349.929, inclusive. The State must not have a financial interest in the fund and must not be obligated to pay any money or assume any liability in connection with it.

      3.  The Legislature intends that NRS 349.900 to 349.929, inclusive, be liberally construed in conformity with the purposes set forth in NRS 349.900.

      (Added to NRS by 1987, 1406; A 1989, 1668)