2005 Nevada Revised Statutes - Chapter 226 — State Treasurer

CHAPTER 226 - STATE TREASURER

 

NRS 226.010 Qualificationsof State Treasurer.

NRS 226.020 Election;term of office.

NRS 226.030 Office.

NRS 226.040 Absencefrom State limited.

NRS 226.050 Oathand bond.

NRS 226.080 Useof facsimile signature; combination of facsimile signature with facsimilesignature of State Controller or other state officer or employee authorized toadminister bank account.

NRS 226.090 Salary.

NRS 226.100 Appointmentof deputies and assistants; restrictions on other employment of Chief Deputy.

NRS 226.110 Generalpowers and duties.

NRS 226.115 StateTreasury designated.

NRS 226.120 Reports.

NRS 226.130 Inspectionof records.

NRS 226.140 Paymentof warrants; exhaustion of money to pay warrant; notice.

NRS 226.150 Liabilityfor failure to pay warrants.

NRS 226.160 Depositof public money; custody of bonds and securities.

NRS 226.170 Refusalto redeem warrant.

NRS 226.175 Accountfor the Rebate of Governmental Services Tax to Senior Citizens.

NRS 226.180 Dutiesas ex officio State Disbursing Officer for Federal Government.

NRS 226.190 Administrationof oaths.

NRS 226.200 Performanceof other duties.

NRS 226.210 Prohibitionagainst purchasing, selling or transferring warrants, scrip or evidence ofindebtedness; penalties.

NRS 226.220 Prohibiteduse of public money; responsibility on bond.

NRS 226.230 Penalties.

_________

NRS 226.010 Qualificationsof State Treasurer. No person shall be eligibleto the Office of State Treasurer unless:

1. He shall have attained the age of 25 years at thetime of such election; and

2. He is a qualified elector and has been a citizenresident of this State for 2 years next preceding the election.

[Part 2:108:1866; A 1953, 711; 1955, 459]

NRS 226.020 Election;term of office.

1. The State Treasurer shall be elected by thequalified electors of the State.

2. The State Treasurer shall be chosen at the generalelection of 1866, and every 4th year thereafter, and shall hold his office forthe term of 4 years from the time of his installment and until his successorshall be qualified.

[Part 1:108:1866; B 2599; BH 1636; C 1782; RL 2765; NCL 4765] + [Part 9:108:1866; B 2607; BH 1644; C 1790; RL 2773;NCL 4773] + [Part 10:108:1866; B 2608; BH 1645; C 1791; RL 2774; NCL 4774]

NRS 226.030 Office. The State Treasurer shall keep his office at the seat ofgovernment.

[Part 10:108:1866; B 2608; BH 1645; C 1791; RL 2774; NCL 4774] + [Part 1:14:1866; A 1867, 113; B 2838; BH 1837; C 1984; RL 4360; NCL 7531](NRS A 1969, 196)

NRS 226.040 Absencefrom State limited. The State Treasurer shallnot absent himself from the State for more than 90 days at any one time withoutleave of absence from the Legislature.

[Part 1:14:1866; A 1867, 113; B 2838; BH 1837; C 1984; RL 4360; NCL 7531]

NRS 226.050 Oathand bond. The State Treasurer shall becommissioned by the Governor, but before such commission shall issue and beforeentering upon the duties of his office, he shall:

1. Take the oath of office prescribed by law, to beendorsed upon his commission; and

2. Execute and deliver to the Governor a bond, payableto the State, in an amount which shall be determined by the State Board ofExaminers, conditioned for the faithful performance of all duties which may berequired of him by law and for the delivery by him to his successor of allbooks, papers, records, moneys, vouchers, sureties, funds and securities,evidences of debt, and effects belonging to his office or to the State ofNevada. The official bond shall be executed by a surety company or companiesauthorized to do business in the State of Nevada.

[2:14:1866; A 1928, 61; NCL 7532](NRS A 1975, 339)

NRS 226.080 Useof facsimile signature; combination of facsimile signature with facsimilesignature of State Controller or other state officer or employee authorized toadminister bank account.

1. The State Treasurer may use a facsimile signaturein place of his handwritten signature if:

(a) The facsimile signature is:

(1) Produced by the most efficient device orother method of facsimile reproduction reasonably available; and

(2) Made and used only under the personaldirection and supervision of the State Treasurer; and

(b) The device or other method of facsimilereproduction is kept securely locked at all times when not in use in such amanner as to prevent any misuse, fraudulent use or other improper use. If thedevice or other method of facsimile reproduction is of such a nature that:

(1) The facsimile image or impression isseverable from the device or other method of facsimile reproduction, thefacsimile image or impression must be kept in a separate secure place in theOffice of the State Treasurer; and

(2) Any registered key, password or othersecuring device or procedure is severable from the device or other method offacsimile reproduction, the registered key, password or other securing deviceor procedure must be locked in a vault.

2. Except as otherwise required by specific statuteand subject to the conditions of subsection 1 and the consent of each, theState Treasurer and the State Controller, or the State Treasurer and any otherofficer or employee of state government who is authorized to administer a bankaccount, may combine their facsimile signatures for use in a device or othermethod of facsimile reproduction. The facsimile image or impression of suchcombined signatures must be kept in the Office of the State Treasurer as providedin paragraph (b) of subsection 1.

[1:2:1943; 1943 NCL 7562.01](NRS A 1961, 51; 1965,34; 2001, 2901)

NRS 226.090 Salary.

1. Until the first Monday inJanuary 2007, the State Treasurer is entitled to receive an annual salary of$80,000. From the first Monday in January 2007, until the first Monday inJanuary 2011, the State Treasurer is entitled to receive an annual salary of$97,000.

2. On the first Monday in January 2011 and on thefirst Monday of every fourth year thereafter, the salary of the State Treasurermust be increased by an amount equal to the cumulative percentage increase inthe salaries of the classified employees of this State during the immediately precedingterm of the State Treasurer.

[5:295:1953; A 1955, 527] + [Part 4:320:1955] +[11:320:1955] + [13:320:1955](NRS A 1957, 541; 1961, 306; 1965, 970; 1969,791; 1971, 2207; 1977, 1015; 1981, 1370; 1985, 1610; 1989, 1897; 1997, 1227; 2005, 1183)

NRS 226.100 Appointmentof deputies and assistants; restrictions on other employment of Chief Deputy.

1. The State Treasurer may appoint and employ a ChiefDeputy, two Senior Deputies, an Assistant Treasurer, a Deputy of DebtManagement, a Deputy of Investments, a Deputy of Cash Management, a Deputy ofUnclaimed Property and an Assistant to the State Treasurer in the unclassifiedservice of the State.

2. Except as otherwise provided in NRS 284.143, the Chief Deputy StateTreasurer shall devote his entire time and attention to the business of hisoffice and shall not pursue any other business or occupation or hold any otheroffice of profit.

[Part 1:93:1945; 1943 NCL 7405](NRS A 1967, 1488;1971, 1424; 1977, 560; 1981, 1271; 1997, 616, 1741; 1999, 72; 2001, 2902; 2003, 2813)

NRS 226.110 Generalpowers and duties. The State Treasurer:

1. Shall receive and keep all money of the State whichis not expressly required by law to be received and kept by some other person.

2. Shall receipt to the State Controller for all moneyreceived, from whatever source, at the time of receiving it.

3. Shall establish the policies to be followed in theinvestment of money of the State, subject to the periodic review and approvalor disapproval of those policies by the State Board of Finance.

4. May employ any necessary investment and financialadvisers to render advice and other services in connection with the investmentof money of the State.

5. Shall disburse the public money upon warrants drawnupon the Treasury by the State Controller, and not otherwise. The warrants mustbe registered and paid in the order of their registry. The State Treasurer mayuse any sampling or postaudit technique, or both, which he considers reasonableto verify the proper distribution of warrants.

6. Shall keep a just, true and comprehensive accountof all money received and disbursed.

7. Shall deliver in good order to his successor inoffice all money, records, books, papers and other things belonging to hisoffice.

8. Shall fix, charge and collect reasonable fees for:

(a) Investing the money in any fund or account which iscredited for interest earned on money deposited in it; and

(b) Special services rendered to other state agenciesor to members of the public which increase the cost of operating his office.

9. Serves as the primary representative of the Statein matters concerning any nationally recognized bond credit rating agency forthe purposes of the issuance of any obligation authorized on the behalf and inthe name of the State, except as otherwise provided in NRS 538.206 and except for thoseobligations issued pursuant to chapter 319 ofNRS and NRS 349.400 to 349.987, inclusive.

10. Is directly responsible for the issuance of anyobligation authorized on the behalf and in the name of the State, except asotherwise provided in NRS 538.206 andexcept for those obligations issued pursuant to chapter319 of NRS and NRS 349.400 to 349.987, inclusive. The State Treasurer:

(a) Shall issue such an obligation as soon aspracticable after receiving a request from a state agency for the issuance ofthe obligation.

(b) May, except as otherwise provided in NRS 538.206, employ necessary legal,financial or other professional services in connection with the authorization,sale or issuance of such an obligation.

11. May organize and facilitate statewide pooledfinancing programs, including lease purchases, for the benefit of the State andany political subdivision, including districts organized pursuant to NRS 450.550 to 450.750, inclusive, and chapters 244A, 309,318, 379, 474, 541, 543 and 555 ofNRS.

12. Shall serve as the Administrator of UnclaimedProperty.

[4:14:1866; A 1897, 24; C 1987; RL 4363; NCL 7534](NRS A 1977, 560; 1981, 414, 497; 1983, 1583; 1995, 2235; 1997, 1286; 1999, 72, 801, 802; 2001, 2902)

NRS 226.115 StateTreasury designated. All moneys, funds andproperty of the State of Nevada, in the custody and control of the StateTreasurer or his office by virtue of his official position as State Treasurer,are hereby designated as the State Treasury of the State of Nevada.

(Added to NRS by 1957, 153)

NRS 226.120 Reports. The State Treasurer shall:

1. Provide information to either house of theLegislature, whenever required, upon any subject connected with the Treasury orany duty of his office.

2. Prepare and submit an annual report of theoperations of his office to the Governor and the Legislative Commission within60 working days after:

(a) The close of a fiscal year; or

(b) The latest date established by the Legislature toclose accounts for a fiscal year,

whicheveroccurs later for that fiscal year.

[5:14:1866; A 1931, 200; 1931 NCL 7535](NRS A1965, 34; 1971, 372; 1977, 560; 1981, 343; 2001, 2903)

NRS 226.130 Inspectionof records.

1. The books, papers and transactions of the Office ofthe State Treasurer shall be open at all times for the inspection of theGovernor, the State Controller, the State Board of Examiners, either house ofthe Legislature, or of any committee thereof, or person authorized by law.

2. For any failure (except it be unavoidable) tocomply with the provisions of this section, the State Treasurer shall forfeithis office, and the Governor shall declare the same vacant, and shall appoint asuccessor.

[6:14:1866; A 1873, 175; B 2843; BH 1842; C 1989; RL 4365; NCL 7536](NRS A 1965, 34; 1971, 372)

NRS 226.140 Paymentof warrants; exhaustion of money to pay warrant; notice.

1. The State Treasurer shall pay all warrants drawnupon him by the State Controller, out of the proper fund, as directed, in theorder in which the same are presented.

2. If there be no money to pay any warrant whenpresented, the State Treasurer shall endorse thereon the words not paid forwant of funds, and shall note the date of presentation, and attest theendorsement made, by his official signature. He shall at the same time make anentry of the date of presentation, number and amount of the warrant in theregister required by law to be kept by him. So soon as money accumulates or isreceived into the state treasury, applicable to and sufficient for the paymentof any outstanding warrant or warrants so presented for payment and not paidfor want of funds, the State Treasurer shall post a notice in writing in aconspicuous place in his office, setting forth the number and amount of hiswarrant or warrants, and the fact that there is money in the State Treasury topay the same. From the time of the posting of such notice no interest shall beallowed or paid upon any warrant which by law is or may be entitled to bearinterest.

[1:54:1869; B 2849; BH 1847; C 1994; RL 4370;NCL 7541]

NRS 226.150 Liabilityfor failure to pay warrants. Any failure,neglect or refusal on the part of the State Treasurer to pay any warrant whenpresented, there being money in the State Treasury to pay the same, or to postthe notice within 5 days, as required in NRS226.140, after there shall have been received into the State Treasury moneyapplicable and sufficient to pay any warrant or warrants presented and not paidfor want of funds, or after having received the money and posted the notice onpresentation for payment, to pay the warrants so posted, shall subject him todamages to the person or persons aggrieved to an amount equal to trebleinterest on the sum specified in the warrant or warrants not paid onpresentation, as provided in this section, such interest being computed at therate of 3 percent per month during the time such warrant or warrants remainunpaid. In any suit brought to recover the same, judgment shall be rendered tocover the damages at the time of the entry thereof and for costs.

[2:54:1869; B 2850; BH 1848; C 1995; RL 4371;NCL 7542]

NRS 226.160 Depositof public money; custody of bonds and securities.

1. The State Treasurer shall deposit all moneys underhis control in the manner provided in chapter 356of NRS.

2. The State Treasurer shall securely keep in the safeand vault provided for him for that purpose, in his office at the seat ofgovernment, all bonds and securities of the state pertaining to his office, andshall not deposit any part or portion of the same with any individual,copartnership or corporation.

3. He shall not use the public moneys, or any partthereof, or allow anyone else to do so, except in the payment of bonds, couponsor warrants properly drawn upon him by the State Controller.

[3:54:1869; A 1869, 139; 1873, 171; B 2851; BH 1849; C 1996; RL 4372; NCL 7543](NRS A 1959, 568)

NRS 226.170 Refusalto redeem warrant. The State Treasurer shallrefuse to redeem any warrants, scrip, orders or other evidence of indebtednessagainst the state whenever it shall come to his knowledge that such warrants,scrip or other evidence of indebtedness have been purchased, sold, received ortransferred in violation of law.

[Part 98:108:1866; B 2696; BH 1733; C 1879; RL 2845; NCL 4845]

NRS 226.175 Accountfor the Rebate of Governmental Services Tax to Senior Citizens. There is hereby created an Account for the Rebate of theGovernmental Services Tax to Senior Citizens within the State General Fund. TheState Treasurer shall administer the Account.

(Added to NRS by 2003, 3491)

NRS 226.180 Dutiesas ex officio State Disbursing Officer for Federal Government. The State Treasurer is ex officio State Disbursing Officerfor the Federal Government. As such, he shall:

1. Act for the Federal Government with respect to allfinancial matters required of him by the Federal Government.

2. Keep proper books and accounts and prepare vouchersand receipts relating thereto.

3. Keep books of account and sign and pay all warrantsrelating to all state payroll deductions at the time and in the mannerrequired, according to federal law and regulation.

4. Perform such other duties in connection with theduties designated in subsections 1, 2 and 3 as may be required in the properexercise thereof.

5. Adopt such regulations as are necessary to carryout the provisions of this section.

[Part 4:320:1955](NRS A 1991, 1696)

NRS 226.190 Administrationof oaths. The State Treasurer shall have powerto administer all oaths or affirmations required or allowed by law in matterstouching the duties of his office.

[Part 10:14:1866; B 2847; BH 1846; C 1993; RL 4369; NCL 7540]

NRS 226.200 Performanceof other duties. The State Treasurer shall performall duties not enumerated in this chapter which may be enjoined by law.

[Part 10:14:1866; B 2847; BH 1846; C 1993; RL 4369; NCL 7540]

NRS 226.210 Prohibitionagainst purchasing, selling or transferring warrants, scrip or evidence ofindebtedness; penalties.

1. Except as provided in subsection 3, the StateTreasurer is expressly prohibited:

(a) From purchasing or selling, or in any mannerreceiving to his own use or benefit, or to the use and benefit of any person orpersons whatever, any state warrants, scrip, orders, demands, claim or claims,or other evidence of indebtedness against the State; or

(b) From purchasing or being interested, or receiving,selling, or transferring, or causing to be purchased, received, sold ortransferred, either in person or by agent or attorney, or by or through theagency or means of any person or persons whatever, any interest, claim, demandor other evidence of indebtedness against the State, either directly orindirectly; nor shall any clerk or employee of the State Treasurer be allowedto make any such purchase, sale or transfer, or to receive any agency fromother parties to purchase, sell, transfer or bargain, in any manner, for anystate warrants, scrip, demands or other evidence of indebtedness against theState.

2. Any person violating any of the provisions ofsubsection 1 shall be guilty of a gross misdemeanor. A conviction shall operateas a forfeiture of office, and the party convicted shall forever bedisqualified from holding any office of honor, profit or trust in this state.

3. Nothing in this section shall prevent the StateTreasurer, his clerks and employees from selling or transferring only suchwarrants or scrip as they may receive for their services, but none other.

[Part 71:108:1866; B 2669; BH 1706; C 1852; RL 2824; NCL 4824] + [Part 72:108:1866; B 2670; BH 1707; C 1853; RL 2825; NCL 4825] + [Part 74:108:1866; B 2672; BH 1709; C 1855; RL 2826; NCL 4826](NRS A 1959, 5)

NRS 226.220 Prohibiteduse of public money; responsibility on bond. TheState Treasurer is made responsible upon his official bond for all moneys receivedby him belonging to the State, and is prohibited from using or loaning or borrowingthe same, for any purpose whatever, except as provided by law.

[7:14:1866; B 2844; BH 1843; C 1990; RL 4366;NCL 7537]

NRS 226.230 Penalties. If the State Treasurer shall willfully neglect or refuseto perform any duty enjoined by law, or, by color of his office, shallknowingly do any act not authorized by law, or in any other manner than isauthorized by law, he shall be deemed guilty of a misdemeanor and shall befurther punished as provided in NRS 197.230.

[8:14:1866; B 2845; BH 1844; C 1991; RL 4367;NCL 7538](NRS A 1967, 532)

 

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