1. The Board shall actively promote and market use of the Trust Fund. 2. The Board shall, before it enters into a prepaid tuition contract with a purchaser, solicit the opinion of: (a) The Securities and Exchange Commission regarding the application of federal law regarding securities to the Trust Fund; or (b) An independent legal counsel to ensure that the method of structuring and offering the Trust Fund is in compliance with federal law regarding securities. 3. The Board may: (a) Require a reasonable length of residence in the State to become a qualified beneficiary. (b) Restrict the number of qualified beneficiaries. (Added to NRS by 1997, 3485; A 2001, 2166)
Nevada Legal Code