1. 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.
2. A charter contract may not be used as security for any loan and shall be deemed to have no monetary value.
3. For the purpose of this section, an amendment to a 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 charter contract.
(Added to NRS by 2017, 3375; A 2017, 3402, effective January 1, 2020)
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