1. There is hereby created the Committee on the Estate Tax Account for the Endowment of the Nevada System of Higher Education, composed of:
(a) Two members of the Board of Regents of the University of Nevada, appointed by the Chair of the Board with the approval of the other members.
(b) Two members who are administrators of the Nevada System of Higher Education, appointed by the Chancellor of the Nevada System of Higher Education.
(c) Two members who are members of the faculty of the Nevada System of Higher Education, appointed by the faculty.
(d) One member who is a student, appointed by the student governments of the Nevada System of Higher Education.
2. If any authority having the power to appoint a member of the Committee ceases to exist, the Governor shall exercise that power in a manner consistent with the intent of this section.
3. The member of the Committee who is appointed pursuant to paragraph (d) of subsection 1 shall serve a term of 1 year. All other members of the Committee shall serve terms of 3 years.
4. The Committee shall make recommendations to the Board of Regents of the University of Nevada concerning the expenditure of the money in the Estate Tax Account in the Endowment Fund.
(Added to NRS by 1987, 2111; A 1993, 398; 2005, 366)