Duty of Board to promote and market use of Trust Fund and solicit certain opinions; authority to limit qualified beneficiaries.

  1. Law
  2. Nevada Revised Statutes
  3. College Savings Programs and Education Savings Accounts
  4. Duty of Board to promote and market use of Trust Fund and solicit certain opinions; authority to limit qualified beneficiaries.

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1. The Board shall actively promote and market use of the Trust Fund.

2. The Board shall, before it enters into a prepaid tuition contract with a purchaser, solicit the opinion of:

(a) The Securities and Exchange Commission regarding the application of federal law regarding securities to the Trust Fund; or

(b) An independent legal counsel to ensure that the method of structuring and offering the Trust Fund is in compliance with federal law regarding securities.

3. The Board may:

(a) Require a reasonable length of residence in the State to become a qualified beneficiary.

(b) Restrict the number of qualified beneficiaries.

(Added to NRS by 1997, 3485; A 2001, 2166)


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