Nevada § 226.784 - Executive Director: Appointed by Governor; duties; powers; compensation

§ 226.784. Executive Director: Appointed by Governor; duties; powers; compensation

1. The Governor shall, to the extent that money is available from public or private

sources for administrative costs, appoint an Executive Director of the Bank. The Executive Director is in the unclassified service of the State and serves at

the pleasure of the Governor. 2. The Executive Director shall administer, manage and conduct the business and affairs

of the Bank subject to the direction of the Board of Directors, any conditions that

the Board of Directors may from time to time prescribe or as delegated by the Board

of Directors. Except as otherwise provided in this subsection, the Executive Director may exercise

any power, function or duty conferred by law on the Bank in connection with the administration,

management and conduct of the business and affairs of the Bank, including, without

limitation: (a) Hiring, to the extent that money is available from public or private sources for

administrative costs, such employees in either the classified or unclassified service

of the State as are necessary to carry out the statutory purposes and powers of the

Bank. (b) Entering into contracts concerning investments, guarantees or credit enhancements. (c) Establishing procedures, guidelines, criteria, terms, conditions or other requirements

of any contract, bond, loan, grant or program in order to carry out the intents and

purposes of the Bank in authorizing the contract, bond, loan, grant or other program. (d) Declining to guarantee any risk or to enter into any contract. (e) Reinsuring any risk or any part of any risk, as provided in NRS 226.799 . (f) Making rules for payments through the Bank and determining to whom and through

whom the payments are to be made. (g) Investing and reinvesting any money belonging to the Bank. (h) Entering into any contract or agreement, executing any instrument, conducting

all business and affairs and performing any act necessary or convenient to carrying

out the statutory purposes and powers of the Bank. (i) Executing any instrument or performing any act necessary or convenient to carry

out his or her duties pursuant to NRS 226.700 to 226.832 , inclusive. 3. The Executive Director and any employees hired pursuant to this section must be

paid by the Bank from money allocated to the Bank and appropriated or authorized by

the Legislature or the Interim Finance Committee.