Section 519A.600 - Use of money held in bond pool; interest earned on money; transfer of administrative expenses1. All money held in the bond pool must be used only for the purposes of the bond pool, including administrative expenses.2. All interest earned on money held in the bond pool must be added to the bond pool and be used solely for the purposes of the bond pool. Participants are not entitled to receive any interest on deposits or premiums paid into the pool.3. Except as otherwise provided in this subsection, administrative expenses, calculated at a rate of 3 percent of the aver age total active bond amount held in the bond pool at the end of each of the 4 immediately preceding fiscal quarters, may be transferred annually from the bond pool to the Account for the Division of Minerals created pursuant to NRS 513.103. The amount transferred must be based on the actual administrative expenses incurred by the Division and may not exceed the amount resulting from the calculations made pursuant to this subsection.4. As used in this section, "total active bond amount" means the total amount of money held in the bond pool that has not been re quested to be returned to a participant.Nev. Admin. Code § 519A.600
Added to NAC by Dep't of Minerals, eff. 10-9-90; A by R108-13, eff. 10/24/2014