If a Nevada court ordered restitution to you in a securities case brought by the state, and the money was never fully paid, you may be able to ask the state for part of it: up to $25,000, or 25% of what is unpaid, whichever is less.
The Fund for the Compensation of Victims of Securities Fraud. Nevada created it in Senate Bill 76 of 2025. It is now part of Nevada's securities law, NRS chapter 90, at sections 90.701 to 90.709. It took effect for all purposes on January 1, 2026 (SB 76, section 13).
It pays from a state fund, not from the wrongdoer. The fund is fed by gifts, grants and donations the Division accepts, interest earned, and money paid back by people who later recover (NRS 90.705, 90.710).
"a person to whom a court orders restitution pursuant to NRS 90.640 may, not later than 12 months after the date on which such restitution is ordered, apply to the Administrator for compensation from the Fund."NRS 90.703(1)
In plain English: you need a restitution order from a Nevada court under NRS 90.640. That is the section that lets a Nevada district court, when the state's Securities Administrator shows that someone broke Nevada's securities law, order remedies including "restitution to investors" (NRS 90.640(1)(a)(4)).
The Securities Division sets the rest of the eligibility rules by regulation (NRS 90.708(1)). The statute itself does not say an applicant must live in Nevada. Check the Division's regulations before relying on anything.
Older or vulnerable investors: under NRS 90.640, if the violation was committed against an older person or a vulnerable person, the restitution ordered must be twice what it would otherwise be.
"such compensation must not exceed the lesser of $25,000 or an amount equal to 25 percent of the amount of unpaid restitution awarded by a court."NRS 90.708(4)
Example (arithmetic only): unpaid restitution of $60,000 → 25% is $15,000, so the most is $15,000. Unpaid restitution of $200,000 → 25% is $50,000, so the cap of $25,000 applies.
Apply within 12 months after the date the court orders restitution. The Administrator may waive the time limit "for good cause shown" (NRS 90.703(1)). If you are turned down, you can appeal under the Division's regulations (NRS 90.703(3)).
What you submit is confidential. It may be disclosed only at your (or your lawyer's) request, in the necessary administration of the law, or on a court order (NRS 90.703(5)).
If you later collect any of the unpaid restitution, you must tell the Division and pay the fund back the smaller of what the fund paid you or what you recovered, less lawyer's fees and costs. The State steps into your right to collect, up to the amount it paid (NRS 90.707).
Besides Nevada, seven states run a fund that pays part of the restitution a securities-fraud victim was ordered to receive but never got. Every one requires a final order or judgment awarding you restitution first; none pays ordinary market losses. Read from each state's own law on October 11, 2026 (list of states: North American Securities Administrators Association).
| State (since) | Most it pays | Senior / vulnerable | Apply within | Who qualifies (key limits) | The law |
|---|---|---|---|---|---|
| Indiana (2010) | lesser of $15,000 or 25% of unpaid restitution | no higher cap stated | 180 days after the final order (up to 2 years for good cause) | violation after July 1, 2010, generally in Indiana; FINRA arbitration awards do not qualify | Indiana Code 23-20 |
| Montana (2011) | lesser of $25,000 or 25% of unpaid restitution | lesser of $50,000 or 50% for a vulnerable person | ask the Commissioner of Securities and Insurance | Montana resident (or domiciled) when the offense happened; this part of the law is set to end June 30, 2027 | MCA 30-10-1004 to 30-10-1006 |
| Vermont (2019) | lesser of $25,000 or 25% of unpaid restitution | lesser of $50,000 or 50% for a vulnerable person (includes anyone 60 or older) | 2 years after the payment deadline in the final order | Vermont resident at the time of the fraud; violations on or after July 1, 2019 | 9 V.S.A. § 5616 |
| Ohio (2021) | lesser of $25,000 or 25% of the loss stated in the final order | no higher cap stated | 180 days after the final order (up to 2 years for good cause) | Ohio resident (or domiciled); order from the Ohio Division of Securities or a court case the Division brought | Ohio Rev. Code 1707.47–1707.471 |
| Maine (2021) | lesser of $15,000 or 25% of unpaid restitution | lesser of $30,000 or 50% for an eligible adult (as the law defines it) | 1 year after the final order (may be extended for good cause) | Maine resident (or domiciled) at the time of the violation; caps may be waived for good cause | 32 M.R.S. §§ 16522–16525 |
| North Dakota (2023) | only for an eligible adult (seniors and vulnerable adults, N.D.C.C. 10-04-08.5) | lesser of $50,000 or 50% of unpaid restitution | 2 years after the final order (may be extended for good cause) | North Dakota resident, or a nonresident hurt by a violation in North Dakota whose home state offers the same; orders issued after the 2023 law took effect | Senate Bill 2325 (2023), N.D.C.C. ch. 10-04 |
| Florida (fund expanded 2024) | lesser of the unpaid damages or $15,000 | $25,000 for a specified adult (as defined in s. 517.34); $250,000 total against any one wrongdoer | 1 year after the final judgment | Florida resident (or domiciled) at the time; judgment or restitution order for a violation of s. 517.07 or 517.301 | Fla. Stat. 517.131–517.141 (Securities Guaranty Fund) |
| Nevada (2026) | lesser of $25,000 or 25% of unpaid restitution | no higher cap in the fund law (restitution itself is doubled for older or vulnerable victims, NRS 90.640) | 12 months after the restitution order (may be waived for good cause) | restitution ordered by a Nevada court under NRS 90.640; the statute does not require Nevada residence | NRS 90.701–90.709 |
Every state has a securities law and a securities regulator that takes fraud complaints and can seek restitution. Kansas considered a fund in 2021 (Senate Bill 30); the bill died in committee in 2022. Find your state's regulator: nasaa.org/contact-your-regulator. Laws change; check the state's own office before relying on any figure.
Built 2026-10-11 · nevada-fund-1b (other states added 2026-10-11) · Read from the statute on October 11, 2026.