NRS539.505. Bond fund: Investment and transfer of surplus money.

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1. Surplus money in the bond fund may be placed at interest or invested in approved interest-bearing securities.

2. If, after a full redemption of any bond issue, a surplus then remains in the bond fund, such surplus may, by resolution of the board of directors, be transferred to the general fund.

[Part 23:64:1919; A 1921, 118; 1927, 309; 1929, 286; 1955, 27]—(NRS A 1981, 492)

                    
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