NRS 388A.275 - Written charter or charter contract not assignable or transferable; written charter or charter contract may not be used as security for loan. [Effective through December 31, 2019.]

NV Rev Stat § 388A.275 (2019) (N/A)

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1. A written charter issued by the sponsor of a charter school to the governing body of the charter school is not assignable or transferable and may not be delegated to a third party.

2. A charter contract entered into between the governing body of a charter school and the sponsor of the charter school is not assignable or transferable and may not be delegated to a third party.

3. A written charter or charter contract may not be used as security for any loan and shall be deemed to have no monetary value.

4. For the purpose of this section, an amendment to a written charter or charter contract which consolidates two or more charter schools, the restart of a charter school pursuant to NRS 388A.300 and the reconstitution of the governing body of a charter school pursuant to NRS 388A.330 do not constitute the assignment, transfer or delegation of a written charter or charter contract.

(Added to NRS by 2017, 3375)

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NRS 388A.274 - Application to be rated using alternative performance framework; sponsor of charter school authorized to require charter school to take certain actions; evaluation of application; proposed sponsor to include certain language in charter contract upon approval. [Effective January 1, 2020.]

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NRS 388A.275 - Charter contract not assignable or transferable; charter contract may not be used as security for loan. [Effective January 1, 2020.]