Nevada Revised Statutes Title 23. Public Officers and Employees § 287.029. Money for coverage for group insurance for officers and employees of school district provided through self-insurance reserve fund or other self-funded system to be deposited in trust fund or held in trust; limitations on use of such money

(a) Provides group life, accident or health coverage through a self-insurance reserve fund as described in paragraph (c) of subsection 1 of NRS 287.010; or

(b) Establishes or carries into effect any other system of self-funded life, accident or health coverage,

(a) Must be used only for the purpose of funding, maintaining, operating and administering the program or system of group insurance;

(b) Must not be loaned to the school district or the board of trustees of the school district or its agent or any other governmental entity; and

(c) May be invested in any reasonable and prudent manner, except that such money must not be invested to purchase any obligations of the school district or the board of trustees of the school district or its agent. All interest and income earned on the money in the fund must be deposited in the fund.