Assembly Bill No. 247–Committee on
Government Affairs

 

CHAPTER..........

 

AN ACT relating to veterans’ homes; providing for the creation and administration of a trust fund consisting of money belonging to the residents of a veterans’ home; providing for the creation and administration of a reserve cash fund to allow those residents immediate access to their money; providing for the creation and administration of a revolving account for each veterans’ home to be used for the immediate payment of certain expenses of the veterans’ home; authorizing the Executive Director of the Office of Veterans’ Services to transfer money from the Veterans’ Home Account to the revolving accounts under certain circumstances; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

    Section 1. Chapter 417 of NRS is hereby amended by adding

thereto the provisions set forth as sections 2 and 3 of this act.

    Sec. 2.  1.  An administrator for a veterans’ home may

accept money belonging to the residents of the veterans’ home

and, except as otherwise provided in this section, shall deposit that

money in a trust fund which is established in a bank, credit union

or savings and loan association qualified to receive deposits of

public money. The administrator shall account for all such money

of the residents separately. Interest and income earned on the

money in the trust fund, after deducting any applicable charges,

must be accounted for separately and credited to the appropriate

accounts in the trust fund.

    2.  The administrator shall:

    (a) Keep a separate account for each resident who entrusts his

money with the administrator for deposit into the trust fund.

    (b) Keep, or cause to be kept, a full and accurate written

account of the money of each resident of the veterans’ home

accepted pursuant to this section.

    (c) Pay any remaining balance in the account of a resident,

including an amount equal to that portion of money in the reserve

cash fund maintained pursuant to subsection 3 that is attributable

to the resident:

        (1) If the resident leaves the veterans’ home, to the resident

or his legal guardian; or

        (2) Upon the death of the resident, to the person

administering the estate of the resident.

    3.  From the money in the trust fund, the administrator shall

maintain a sum not to exceed $3,000 in a reserve cash fund at the

veterans’ home for immediate use by the residents of the veterans’

home who have an account in the trust fund. The administrator

shall not keep an amount in the reserve cash fund attributable to a

specific resident that is in excess of $50. If a resident withdraws

money from the reserve cash fund, the administrator shall deduct

the amount of the withdrawal from the resident’s account in the

trust fund.

    Sec. 3.  1.  A revolving account up to the amount of $2,000

is hereby created for each veterans’ home, and may be used for

the payment of bills of the veterans’ home requiring immediate

payment and for no other purpose. The administrator of a

veterans’ home shall deposit the money for the revolving account

for the veterans’ home in a bank, credit union or savings and loan

association qualified to receive deposits of public money. The

revolving account must be under the control of the administrator

of the veterans’ home for which the account was created.

    2.  The Executive Director may transfer such amounts of

money from the Veterans’ Home Account to a revolving account

as the Executive Director determines necessary provided that the

balance in the revolving account does not exceed $2,000.

    Sec. 4.  This act becomes effective upon passage and approval.

 

²⁰~~~~~⁰³