Except as otherwise provided by a specific statute, securities issued by the State may be sold at par, above par or below par at a discount of not more than 9 percent of the principal amount, but the effective interest rate must not exceed the limit provided in NRS 349.076.
NRS 349.077
Discounts
Known as the State Securities Law
The act spans §§ 349–349 (273 sections).
(Added to NRS by 1967, 218; A 1969, 1288; 1971, 2110; 1975, 857; 1981, 1399; 1983, 570)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.