349.2275 - Variable rates of interest: Exemption from limitations; conclusive findings of Commission that procedure for determination of rates is reasonable. - Nevada Statutes

349.2275  Variable rates of interest: Exemption from limitations; conclusive findings of Commission that procedure for determination of rates is reasonable.  In fixing the rate or rates of interest for state securities pursuant to subsection 1 of NRS 349.227 or the rate or rates of interest imposed on the Commission for reimbursement of any advances made under an agreement pursuant to subsection 2 of NRS 349.227, the Commission is not subject to any limitations on rates of interest provided by statute, including NRS 349.076, or provided in the bond question authorizing the issuance of those securities. The act or resolution fixing that rate or rates of interest must contain the findings of the Commission that the procedure specified in the act or resolution for determining that rate or rates is reasonable under existing or anticipated conditions in the market and is necessary and advisable for marketing the securities. These findings are conclusive. This section does not prohibit the Commission from fixing a maximum rate of interest in that act or resolution.

      (Added to NRS by 1985, 2088)