Nevada Revised Statutes 225.165 – Secretary of State’s Trust Account for Advance Fees: Establishment; use; regulations
1. The Secretary of State may establish a trust account, designated the Secretary of State’s Trust Account for Advance Fees, with the State Treasurer in which persons who require the services of the Secretary of State may deposit advance fees for payment of those services. Unless the appropriate fee accompanies the request for service, upon providing the service, the Secretary of State shall cause the Account to be debited.
Terms Used In Nevada Revised Statutes 225.165
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
2. The Secretary of State shall prescribe, by regulation:
‘ (a) The services for which advance fees may be deposited with the State Treasurer and paid for upon providing the service; and
(b) The minimum amount of advance fees each person must maintain in the Trust Account.
3. The State Treasurer, upon consultation with the Secretary of State and the State Controller, shall prescribe the procedure for the deposit and withdrawal of money from the Trust Account.