Nevada § 209.194 - Silver State Industries Endowment Fund
Full text of Nevada Nevada Revised Statutes § 209.194 — Silver State Industries Endowment Fund, with citation guidance and answers to common questions.
§ 209.194. Silver State Industries Endowment Fund
1. The Silver State Industries Endowment Fund is hereby created as a trust fund in
the State Treasury. 2. The State Treasurer shall deposit in the Fund: (a) Any money received from any commercial or correctional activities relating to
the use of the modern structures, buildings and other property of the Nevada State
Prison; and (b) Any gifts, grants or donations of money the State Treasurer receives from any
person who wishes to contribute to the Fund. The money described in paragraphs (a) and (b) must be accounted for separately. 3. The interest and income earned on the money in the Fund must be credited to the
Fund. 4. The Fund must be administered by the Silver State Industries Division of the Department. 5. Except as otherwise provided in subsection 6, the money in the Fund must only be
used for the purposes set forth in this subsection. The Silver State Industries Division may use: (a) In addition to any interest earned on the principal of the Fund, not more than
75 percent of the money received during a fiscal year from any commercial or correctional
activities relating to the use of the modern structures, buildings and other property
of the Nevada State Prison for the maintenance of the modern structures, buildings
and other property of the Nevada State Prison; and (b) Not more than 5 percent of the money received during a fiscal year from any commercial
or correctional activities relating to the use of the modern structures, buildings
and other property of the Nevada State Prison to pay administrative costs. 6. At the end of each fiscal year, the State Treasurer shall transfer from the Silver
State Industries Endowment Fund to the Endowment Fund for the Historic Preservation
of the Nevada State Prison created by NRS 381.239 25 percent of all the money received during the fiscal year from any commercial or
correctional activities relating to the use of the modern structures, buildings and
other property of the Nevada State Prison and deposited into and remaining in the
Silver State Industries Endowment Fund. The State Treasurer shall not transfer any interest earned on the principal. 7. As used in this section, “ modern structures, buildings and other property of the Nevada State Prison ” means the structures, buildings and other property described in paragraph (a) of
subsection 1 of NRS 321.004 .
Frequently Asked Questions About Nevada § 209.194
What does Nevada Revised Statutes § 209.194 cover?
Section 209.194 ("Silver State Industries Endowment Fund") 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 § 209.194?
A common citation format is "Nevada Revised Statutes § 209.194" (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 § 209.194 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.