(Reprinted with amendments adopted on March 27, 2003)

 

Assembly Bill No. 247–Committee on
Government Affairs

 

(On Behalf of the Office of Veterans’ Services)

 

March 6, 2003

____________

 

Referred to Committee on Government Affairs

 

SUMMARY—Provides for creation and administration of various accounts for veterans’ homes and residents thereof. (BDR 37‑534)

 

FISCAL NOTE:  Effect on Local Government: No.

                           Effect on the State: No.

 

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

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:

 

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

1-2  thereto the provisions set forth as sections 2 and 3 of this act.

1-3  Sec. 2.  1.  An administrator for a veterans’ home may

1-4  accept money belonging to the residents of the veterans’ home

1-5  and, except as otherwise provided in this section, shall deposit that

2-1  money in a trust fund which is established in a bank, credit union

2-2  or savings and loan association qualified to receive deposits of

2-3  public money. The administrator shall account for all such money

2-4  of the residents separately. Interest and income earned on the

2-5  money in the trust fund, after deducting any applicable charges,

2-6  must be accounted for separately and credited to the appropriate

2-7  accounts in the trust fund.

2-8  2.  The administrator shall:

2-9  (a) Keep a separate account for each resident who entrusts his

2-10  money with the administrator for deposit into the trust fund.

2-11      (b) Keep, or cause to be kept, a full and accurate written

2-12  account of the money of each resident of the veterans’ home

2-13  accepted pursuant to this section.

2-14      (c) Pay any remaining balance in the account of a resident,

2-15  including an amount equal to that portion of money in the reserve

2-16  cash fund maintained pursuant to subsection 3 that is attributable

2-17  to the resident:

2-18          (1) If the resident leaves the veterans’ home, to the resident

2-19  or his legal guardian; or

2-20          (2) Upon the death of the resident, to the person

2-21  administering the estate of the resident.

2-22      3.  From the money in the trust fund, the administrator shall

2-23  maintain a sum not to exceed $3,000 in a reserve cash fund at the

2-24  veterans’ home for immediate use by the residents of the veterans’

2-25  home who have an account in the trust fund. The administrator

2-26  shall not keep an amount in the reserve cash fund attributable to a

2-27  specific resident that is in excess of $50. If a resident withdraws

2-28  money from the reserve cash fund, the administrator shall deduct

2-29  the amount of the withdrawal from the resident’s account in the

2-30  trust fund.

2-31      Sec. 3.  1.  A revolving account up to the amount of $2,000

2-32  is hereby created for each veterans’ home, and may be used for

2-33  the payment of bills of the veterans’ home requiring immediate

2-34  payment and for no other purpose. The administrator of a

2-35  veterans’ home shall deposit the money for the revolving account

2-36  for the veterans’ home in a bank, credit union or savings and loan

2-37  association qualified to receive deposits of public money. The

2-38  revolving account must be under the control of the administrator

2-39  of the veterans’ home for which the account was created.

2-40      2.  The Executive Director may transfer such amounts of

2-41  money from the Veterans’ Home Account to a revolving account

2-42  as the Executive Director determines necessary provided that the

2-43  balance in the revolving account does not exceed $2,000.

 

 

3-1  Sec. 4.  This act becomes effective upon passage and approval.

 

3-2  H