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Nevada Revised Statutes Title 31. Public Financial Administration § 353D.200. Board of Trustees: Creation; membership; terms; vacancies; Chair; meetings; quorum; compensation

Current as of January 01, 2025 | Updated by Findlaw Staff

<Section effective July 1, 2025. >

1. There is hereby created the Board of Trustees of the Nevada Employee Savings Trust.

2. The Board consists of:

(a) The State Treasurer or the designee of the State Treasurer;

(b) The Lieutenant Governor or the designee of the Lieutenant Governor;

(c) One member, appointed by the Governor, who represents employers;

(d) One member, appointed by the Governor, who has experience in the field of investments;

(e) One member, appointed by the Majority Leader of the Senate, who represents retirees; and

(f) One member, appointed by the Speaker of the Assembly, who has experience in small business.

3. Each appointed member serves a term of 4 years unless dismissed for cause. Members may be reappointed for additional terms of 4 years in the same manner as the original appointments.

4. Any vacancy occurring in the appointed membership of the Board must be filled in the same manner as the original appointment for the remainder of the unexpired term.

5. The State Treasurer or the designee of the State Treasurer shall serve as the Chair of the Board.

6. The Board shall meet at the call of the Chair as frequently as required to perform its duties.

7. A majority of the members of the Board constitutes a quorum for the transaction of business, and a majority of a quorum present at any meeting is sufficient for any official action taken by the Board.

8. Each member of the Board serves without compensation, except that each member is entitled to receive:

(a) The per diem allowance and travel expenses provided for state officers and employees generally; and

(b) Reimbursement for any other actual and reasonable expense incurred while performing the member's duties.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 31. Public Financial Administration § 353D.200. Board of Trustees: Creation; membership; terms; vacancies; Chair; meetings; quorum; compensation - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-31-public-financial-administration/nv-rev-st-353d-200/

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