1. The Board shall elect one of its members as Treasurer. 2. All money received by the Board shall be turned over to the Treasurer who shall keep books of account and who is authorized to deposit the money in banks, credit unions, savings and loan associations or savings banks in the State of Nevada, and to expend money necessary for the operation of the Board under the terms of this chapter when the expenses have been approved by the Board. 3. All balances at any time in the possession of the Treasurer shall be subject to legislative disposition.
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