The State Board, in the name and on behalf of the system of public schools in this State, may:

1. Cause to be formed a nonprofit corporation pursuant to chapter 82 of NRS for the acquisition of money and personal property for awards in recognition of exceptional teachers, pupils and public schools and for special projects regarding educational enhancement, including, but not limited to, any unique educational activity which is conducted by officials of the public schools to improve the educational performance of or learning opportunities for pupils or teachers in the public schools.

2. Determine the name of the corporation.

3. Specify that the corporation is formed for charitable and educational purposes, subject to the basic purpose of the corporation as set forth in subsection 1.

4. Specify any incidental powers which the corporation may exercise, including:

(a) The power to solicit and receive contributions, gifts, grants, devises and bequests of money and personal property, or any combination thereof;

(b) Any of the powers enumerated in NRS 82.121 except that the corporation may not receive or hold real property; and

(c) The power to do all acts as may be necessary, convenient or desirable to carry out the purposes for which the corporation is formed.

5. Provide for:

(a) The location and relocation of the office of the corporation;

(b) Upon the dissolution of the corporation and the liquidation of its obligations, the distribution of its assets to the system of public schools in this State;

(c) The perpetual existence of the corporation;

(d) The governing body of the corporation and the appointment and reappointment of members thereto; and

(e) The adoption of the bylaws for the corporation and any amendments thereto.

(Added to NRS by 1987, 666; A 1991, 1314)