1. The Trust Fund for Child Welfare is hereby created. All benefits for survivors or other awards payable to children receiving child welfare services pursuant to NRS 432.010 to 432.085, inclusive, in a county whose population is less than 100,000 must be deposited in the State Treasury for credit to the Fund.
2. The Division shall:
(a) Keep a separate account for each child who receives money.
(b) Deduct from the account any services to the child provided by public money. Any surplus remaining may be expended for extraordinary items deemed beneficial to the child.
(c) Remit any surplus balance to the parent or legal guardian of the child, or to the child if the child is emancipated or has reached the age of 18 years, when the Division is no longer legally responsible for the child.
3. The Division shall pay interest to each child’s separate account maintained in the Trust Fund for Child Welfare at the end of each interest period. Interest must be paid at a rate equal to the average of the interest rates quoted by at least three banking institutions for interest-bearing savings accounts of $3,000 or less on the first day of each interest period. Interest must be paid on the child’s account commencing with the first interest period that the Division is legally responsible for the child. Interest must not be paid for the interest period during which the child ceases to be the legal responsibility of the Division.
4. All benefits for survivors or other awards payable to children receiving child welfare services in a county whose population is 100,000 or more pursuant to NRS 432.010 to 432.085, inclusive, must be deposited in the trust fund for child welfare established in the county treasury. A disbursement from the benefits for survivors or other awards of a child which is deposited in the fund may be made to the agency which provides child welfare services for any child welfare services provided to the child with public money.
5. As used in this section, “interest period” means that period not less frequent than quarterly, as determined by the State Treasurer, for which interest must be paid.
(Added to NRS by 1993, 2700; A 1995, 721; 2001 Special Session, 31)
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.