1. There is hereby created an award to be known as the Nevada Medal of Distinction.
2. Each year the Nevada Medal of Distinction must be awarded to:
(a) One person who is living and has made a significant and lasting contribution to the State of Nevada; and
(b) One person who is deceased and during his or her lifetime made a significant and lasting contribution to the State of Nevada.
3. The Nevada Medal of Distinction may not be awarded to a person more than once or to an elected officer during his or her term.