1. There is hereby created the Placement Prevention Revolving Account in the amount of $25,000 to be used for the payment of claims in a county whose population is less than 100,000 of recipients of goods or services from the Division and vendors providing goods or services to those recipients pursuant to procedures established by the Division.

2. Upon written request from the Administrator, the State Controller shall draw a warrant from money already authorized for the use of the Division in the sum of $25,000. When the warrant is paid, the Administrator shall deposit the money in a financial institution qualified to receive deposits of public money. All money deposited in the Placement Prevention Revolving Account pursuant to this section must be secured with a depository bond that is satisfactory to the State Board of Examiners, unless it is otherwise secured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or a private insurer approved pursuant to NRS 672.755.

3. After an expenditure of money from the Placement Prevention Revolving Account, the Administrator shall present a claim to the State Board of Examiners to maintain a balance of $25,000. If the claim is approved by the State Board of Examiners, the State Controller shall draw a warrant from money already authorized for the use of the Division in the amount of the claim in favor of the Placement Prevention Revolving Account, and the State Treasurer shall pay the warrant.

4. Money in the Placement Prevention Revolving Account created pursuant to subsection 1 does not revert to the State General Fund at the end of the fiscal year, and the balance in the Account must be carried forward.

5. Purchases made by the Division pursuant to this section are exempt from the State Purchasing Act.

6. The board of county commissioners of a county whose population is 100,000 or more may establish a fund or account to be used for the payment of claims of recipients of goods or services from the agency which provides child welfare services and vendors providing goods or services to those recipients pursuant to procedures established by the agency which provides child welfare services.

(Added to NRS by 1997, 3058; A 1999, 1496; 2001 Special Session, 33)