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

Nev. Rev. Stat. § 353B.155
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
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.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-353B.htmlFetched: 10/4/2026

Starting a business in Nevada? Nevada LLC guide: costs and requirements