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NRS 271.333 - Neighborhood improvement projects: Contract with nonprofit association to provide for internal controls and audits; authority of governing body to take control of certain assets of association.

NV Rev Stat § 271.333 (2019) (N/A)
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1. A contract executed pursuant to NRS 271.332 must specify the approvals required for expenditures and provide for internal controls adequate to protect the assets of the improvement district. The contract must provide for audits of the association by the governing body at the discretion of the governing body.

2. If an audit finds a misuse of money or any fraud in the activities of the association, the governing body may take control of any assets of the association related to the improvement district.

(Added to NRS by 1999, 2862)

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NRS 271.332 - Neighborhood improvement projects: Governing body authorized to contract for provision of improvements with nonprofit association; requirements for association; extension of terms of contract; contract to ensure type and level of services continue.
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NRS 271.335 - Construction contracts.