353B.007 - Insurance coverage to protect prepaid tuition contracts and savings trust accounts. - Nevada Statutes

353B.007  Insurance coverage to protect prepaid tuition contracts and savings trust accounts.  The Board may endorse insurance coverage written exclusively to protect prepaid tuition contracts, and purchasers and beneficiaries of prepaid tuition contracts pursuant to NRS 353B.010 to 353B.190, inclusive, and the regulations adopted pursuant thereto, and savings trust accounts and account owners, and beneficiaries of savings trust accounts pursuant to NRS 353B.300 to 353B.370, inclusive, and the regulations adopted pursuant thereto, which may be issued in the form of a group life policy. The provisions of title 57 of NRS are not applicable to the Board in carrying out the provisions of this section.

      (Added to NRS by 2001, 2160)

      NRS 353B.009  Money on deposit in prepaid tuition contract or savings trust account not considered asset of parent, guardian or student for purposes of determining certain eligibility.  Notwithstanding the provisions of any specific statute to the contrary, no money on deposit in a prepaid tuition contract pursuant to NRS 353B.010 to 353B.190, inclusive, or a savings trust account pursuant to NRS 353B.300 to 353B.370, inclusive, may be considered an asset of a parent, guardian or student for the purpose of determining the eligibility of a person for a grant, scholarship or work opportunity that is based on need and offered or administered by a state agency, except as otherwise required by the source of the funding of the grant, scholarship or work opportunity.

      (Added to NRS by 2001, 2160)