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NRS 99.065 - Public securities: Compound interest authorized; repayment.

NV Rev Stat § 99.065 (2019) (N/A)
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1. Bonds or other securities issued by this state or any of its political subdivisions may provide for the payment of compound interest. The amount of the compound interest must be treated as interest and not as an addition to the principal of the bond or other security.

2. If interest is compounded on some or all of an issue of securities, repayment of the securities:

(a) Must commence no later than the 15th year after issue; and

(b) If in installments, must be made no less often than annually.

(Added to NRS by 1985, 1076; A 1989, 147; 2011, 3327)

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NRS 99.060 - Definitions relating to public securities.
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NRS 99.067 - Public securities: Interest rate for securities issued on or before June 30, 2011.