NRS709.230. Agreement to pay annually 2 percent of net profits for benefit of county school district fund.

      1.  The grantee of any franchise secured under the provisions of NRS 709.180 to 709.280, inclusive, shall, within 30 days after such franchise is granted, file with the county recorder of such county an agreement, properly executed by the grantee, to pay annually, on the first Monday of July of each year, to the county treasurer of the county, for the benefit of the county school district fund, 2 percent of the net profits made by such grantee in the operation of such electric light, heat and power lines within the county.

      2.  No right or privilege shall be exercised under the franchise until the agreement is filed.

      [6:102:1919; 1919 RL p. 2809; NCL § 3202]