Section 701A.750 - Repayment; suspension of payments under certain circumstances; unpaid balance due upon separation from service1. The Director may suspend repayment pursuant to an agreement entered into pursuant to section 6 of this regulation of a loan or other distribution of money from the Account during any period other than when the participant is in paid status as that term is defined in NAC 284.0742. If the Director does not suspend repayment during such period: (a) The Director will bill the participant for the payment due; (b) Payment is due on the 20th day of each month during the period; (c) Payment must be made not later than 15 days after the date on which the payment is due; and (d) If payment is not received by the date on which it is due: (1) The Director may provide notice to the participant by mail that the payment is past due; and (2) The loan or other distribution of money from the Account may be subject to collection proceedings in accordance with the provisions of chapter 353C of NRS. 2. Upon a participant's permanent separation from service, the entire unpaid balance of the loan or other distribution of money from the Account is deemed to be due in its entirety and may be withheld from the final paycheck of or other final payment of money by the State to the participant. Any unpaid balance remaining thereafter must be paid by the participant by check within 60 days after the participant's date of permanent separation from service. If a participant fails to pay the unpaid balance remaining within 60 days after his or her date of permanent separation from service, the unpaid balance remaining is deemed to be past due and the Director will take action to collect the debt in accordance with the provisions of chapter 353C of NRS.Nev. Admin. Code § 701A.750
Added to NAC by Office of Energy by R051-15, eff. 10/27/2015NRS 701A.450, as amended by section 3 of Assembly Bill No. 466, chapter 342, Statutes of Nevada 2015, at page 1920