1. Just compensation shall be paid upon the removal of any outdoor advertising sign, display or device lawfully erected and maintained and removed in accordance with the requirements of NRS 410.340 . 2. Such compensation shall be paid for the following: (a) The taking from the owner of such sign, display or device of all right, title, leasehold and interest in and to such sign, display or device; and (b) The taking from the owner of the real property on which the sign, display or device is located of the right to erect and maintain such existing signs, displays and devices. 3. Such compensation shall be paid by the State from the State Highway Fund, if a proportionate part of such compensation is reimbursable from federal funds in accordance with 23 U.S.C. 131.
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