277.0695 - Cooperative agreements concerning insurance: Issuance of securities; applicability of other laws concerning securities.
277.0695 Cooperative agreements concerning insurance: Issuance of securities; applicability of other laws concerning securities.
1. NRS 277.067 and 277.069 provide full authority for the exercise of the powers granted in those sections. No other act or law relating to the authorization or issuance of securities that provides for an election applies to any proceedings taken or acts done pursuant to those sections.
2. An issuance of bonds or notes, pledge of revenues, or obligation to contribute money which is made or undertaken pursuant to NRS 277.067 and 277.069 shall be deemed not to create indebtedness for the purposes of any limitation on indebtedness contained in any general or special law or charter.
3. Except as otherwise provided in this section and in NRS 277.067 and 277.069, the issuance of any bonds or notes pursuant to NRS 277.069 must be made in accordance with:
(a) The Local Government Securities Law, if the bonds or notes are issued by or on behalf of a municipality as that term is defined in NRS 350.538;
(b) The State Securities Law, if the bonds or notes are issued by or on behalf of an agency of the State; or
(c) The University Securities Law, if the bonds or notes are issued by or on behalf of the Nevada System of Higher Education.
(Added to NRS by 1987, 1679; A 1993, 372; 2005, 363)