354.686 - Severe financial emergency: Request by local government involved in litigation or threatened litigation for order that Department of Taxation take over management of local government; issuan - Nevada Statutes - USA Laws Searching

Statutes > Nevada Statutes > TITLE 31 - PUBLIC FINANCIAL ADMINISTRATION > Chapter 354 - Local Financial Administration > DELINQUENT DOCUMENTS AND PAYMENTS; TECHNICAL FINANCIALASSISTANCE; SEVERE FINANCIAL EMERGENCY > 354.686 - Severe financial emergency: Request by local government involved in litigation or threatened litigation for order that Department of Taxation take over management of local government; issuan

354.686 - Severe financial emergency: Request by local government involved in litigation or threatened litigation for order that Department of Taxation take over management of local government; issuan

354.686  Severe financial emergency: Request by local government involved in litigation or threatened litigation for order that Department of Taxation take over management of local government; issuance of order.

      1.  If the governing body of a local government determines by the affirmative vote of a majority of its members that, because the local government is involved in litigation or threatened litigation, the local government is or will be in a severe financial emergency, the governing body may submit a request to the Nevada Tax Commission for an order that the Department, as soon as practicable, take over the management of the local government pursuant to the provisions of NRS 354.655 to 354.725, inclusive.

      2.  If the Nevada Tax Commission receives a request pursuant to subsection 1, the Nevada Tax Commission shall order the Department to take over the management of the local government.

      (Added to NRS by 2005, 1392)

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