Nevada Revised Statutes 277.0695 – Cooperative agreements concerning insurance: Issuance of securities; applicability of other laws concerning securities
1. NRS 277.067 and 277.069 provide full authority for the exercise of the powers granted in those sections. No other act or law relating to the authorization or issuance of securities that provides for an election applies to any proceedings taken or acts done pursuant to those sections.
Terms Used In Nevada Revised Statutes 277.0695
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
2. An issuance of bonds or notes, pledge of revenues, or obligation to contribute money which is made or undertaken pursuant to NRS 277.067 and 277.069 shall be deemed not to create indebtedness for the purposes of any limitation on indebtedness contained in any general or special law or charter.
3. Except as otherwise provided in this section and in NRS 277.067 and 277.069, the issuance of any bonds or notes pursuant to NRS 277.069 must be made in accordance with:
(a) The Local Government Securities Law, if the bonds or notes are issued by or on behalf of a municipality as that term is defined in NRS 350.538;
(b) The State Securities Law, if the bonds or notes are issued by or on behalf of an agency of the State; or
(c) The University Securities Law, if the bonds or notes are issued by or on behalf of the Nevada System of Higher Education.