Nev. Rev. Stat. § 645.842
Creation; use; balances; interest and income
Effective Oct 1, 2010(Added to NRS by 1967, 1043; A 1973, 1763; 1979, 119; 1981, 1615; 2003, 1296; 2005, 665; 2010, 26th Special Session, 24)
- 1. The Real Estate Education, Research and Recovery Fund is hereby created as a special revenue fund.
2. A balance of not less than $300,000 must be maintained in the Fund, to be used for satisfying claims against persons licensed under this chapter, as provided in NRS 645.841 to 645.8494, inclusive. Any balance over $300,000 remaining in the Fund at the end of any fiscal year must be set aside and used:
- (a) By the Administrator, after approval of the Commission, for real estate education and research; or
- (b) For any other purpose authorized by the Legislature.
- 3. The interest and income earned on the money in the Fund, after deducting any applicable charges, must be credited to the Fund.
(Added to NRS by 1967, 1043; A 1973, 1763; 1979, 119; 1981, 1615; 2003, 1296; 2005, 665; 2010, 26th Special Session, 24)