Nevada § 353.280 - Authorized investments; interest; investment in reverse-repurchase agreement prohibited
Full text of Nevada Nevada Revised Statutes § 353.280 — Authorized investments; interest; investment in reverse-repurchase agreement prohibited, with citation guidance and answers to common questions.
§ 353.280. Authorized investments; interest; investment in reverse-repurchase agreement prohibited
1. When state money is placed in escrow, the escrow agent is authorized to invest
that money in: (a) United States Government securities. (b) United States Postal Service obligations. (c) Federal National Mortgage Association obligations whose maturity date is before
the end of the escrow period. (d) Money market mutual funds that: (1) Are registered with the Securities and Exchange Commission; (2) Are rated by a nationally recognized rating service as “AAA” or its equivalent;
and (3) Invest only in securities issued or guaranteed as to payment of principal and
interest by the Federal Government, or its agencies or instrumentalities, or in repurchase
agreements that are fully collateralized by such securities. The interest from the securities must be credited to the proper state agency. 2. The escrow agent shall not invest state money pursuant to a reverse-repurchase
agreement.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 353.280
What does Nevada Revised Statutes § 353.280 cover?
Section 353.280 ("Authorized investments; interest; investment in reverse-repurchase agreement prohibited") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 353.280?
A common citation format is "Nevada Revised Statutes § 353.280" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 353.280 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.