2022 Nevada Revised Statutes
Chapter 422A - Welfare and Supportive Services
NRS 422A.496 - Selection of one or more fiduciary organizations to administer money in Program. [Effective January 1, 2022.]
The State Treasurer may select one or more fiduciary organizations to administer any money received from the State Treasurer pursuant to NRS 422A.495. In making the selections, the State Treasurer shall consider, without limitation, the following factors:
1. The ability of the fiduciary organization to implement and administer the Program, including, without limitation, the ability to:
(a) Verify that a person qualifies to become an account holder;
(b) Certify that the money in an individual development account is used only for authorized purposes; and
(c) Exercise general fiscal accountability;
2. The capacity of the fiduciary organization to provide or raise matching funds for the deposits of account holders;
3. The capacity of the fiduciary organization to provide support and general assistance to an account holder to increase the financial independence of the account holder and the household of the account holder; and
4. The connections that the fiduciary organization has to other activities and programs that are designed to increase the financial independence of persons who qualify to become account holders pursuant to NRS 422A.493 through:
(a) Education and training;
(b) Home ownership; and
(c) Small business development.
(Added to NRS by 2021, 1555, effective January 1, 2022)
