349.835 - Bonds: Form and terms; sale.
349.835 Bonds: Form and terms; sale.
1. The bonds must be authorized by an order of the Director, and must:
(a) Be in the denominations;
(b) Bear the date or dates;
(c) Mature at the time or times;
(d) Bear interest at a specified rate or rates;
(e) Be in the form;
(f) Carry the registration privileges;
(g) Be executed in the manner;
(h) Be payable at the place or places within or without the State; and
(i) Be subject to the terms of redemption,
Ê which the order authorizing their issue provides.
2. The bonds must be signed by the Director, who may use a facsimile signature for this purpose. If the Director whose signature appears on any bonds ceases to act in that capacity before the delivery of the bonds, his or her signature is valid and sufficient for all purposes as if he or she had remained in office until their delivery.
3. The bonds may be sold in one or more series above, at or below par and at public or private sale at such prices, at such times and in such manner as the Director determines.
4. The bonds are fully negotiable under the terms of the Uniform Commercial Code—Investment Securities.
(Added to NRS by 1985, 2019)