1.  Upon receiving approval pursuant to subsection 2, a relative or a fictive kin with whom a child is placed pursuant to paragraph (b) of subsection 6 of NRS 432B.390 may establish an individual development account for the child. The relative or fictive kin may deposit into the individual development account money received by the relative or fictive kin to pay for the cost of providing care to the child, if such use does not conflict with or prevent the relative or fictive kin from providing care to the child.

Ask a criminal law question, get an answer ASAP!
Click here to chat with a criminal defense lawyer and protect your rights.

2.  Before establishing an individual development account pursuant to subsection 1, a relative or fictive kin must receive the approval of an agency which provides child welfare services to establish the individual development account and deposit a portion of the money received into such an account. An agency which provides child welfare services shall grant such approval to the relative or fictive kin if the agency which provides child welfare services determines that the depositing of money into the individual development account:

(a) Does not conflict with or prevent the relative or fictive kin from providing care to the child; and

(b) Is in the best interests of the child.

3.  The money deposited into the individual development account and any matching funds and interest deposited into the individual development account pursuant to NRS 422A.487 to 422A.497, inclusive, is the property of the child for whom the individual development account was established.

4.  The child:

(a) May access the money deposited in the individual development account and any matching funds and interest deposited into the individual development account pursuant to NRS 422A.487 to 422A.497, inclusive, upon reaching 18 years of age or upon being declared emancipated pursuant to NRS 129.080 to 129.140, inclusive, whether or not the child was part of the foster care system or child welfare system upon reaching 18 years of age or the child moved outside of the State before reaching 18 years of age or before being declared emancipated; and

(b) Upon obtaining access to the money pursuant to paragraph (a), must use the money deposited in the individual development account and any matching funds and interest deposited into the individual development account pursuant to NRS 422A.487 to 422A.497, inclusive, only for the purposes set forth in NRS 422A.494.

5.  Nothing in this section shall be construed as preventing:

(a) A child who is placed with a relative or a fictive kin pursuant to paragraph (b) of subsection 6 of NRS 432B.390 from maintaining a bank account and managing personal income, consistent with the age and developmental level of the child; or

(b) The relative or fictive kin with whom a child is placed pursuant to paragraph (b) of subsection 6 of NRS 432B.390 from establishing a savings account for the child into which the relative or fictive kin deposits the personal income or money of the relative or fictive kin.