# Nevada SB375: AN ACT relating to credit unions; authorizing a credit union which is a low-income credit union to issue shares to nonmembers under certain circumstances; authorizing the Commissioner of Financial Institutions to temporarily suspend certain regulations under certain circumstances; requiring the Commissioner to approve or deny an application to open an additional office within 60 days after receipt of the application; revising requirements for the par value of shares of a credit union; revising provisions relating to certain operations of a credit union; revising requirements for the board of directors of a credit union; revising provisions relating to membership in a credit union; revising provisions relating to certain reserves, loans and investments of a credit union; and providing other matters properly relating thereto. Nevada SB375, AN ACT relating to credit unions; authorizing a credit union which is a low-income credit union to issue shares to nonmembers under certain circumstances; authorizing the Commissioner of Financial Institutions to temporarily suspend certain regulations under certain circumstances; requiring the Commissioner to approve or deny an application to open an additional office within 60 days after receipt of the application; revising requirements for the par value of shares of a credit union; revising provisions relating to certain operations of a credit union; revising requirements for the board of directors of a credit union; revising provisions relating to membership in a credit union; revising provisions relating to certain reserves, loans and investments of a credit union; and providing other matters properly relating thereto., is a 83rd Regular Session (2025) Senate bill sponsored by Julie Pazina (Democratic); status signed, last action 2025-05-31 (Approved by the Governor. Chapter 206.); PRIA reads it as touching household money (as of 2026-11-01). - Canonical: https://policyrisk.com/state-bill/NV-SB375-83rd2025 - As of: 2026-11-01 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Nevada SB375 - State: Nevada - Session: 83rd Regular Session (2025) - Title: AN ACT relating to credit unions; authorizing a credit union which is a low-income credit union to issue shares to nonmembers under certain circumstances; authorizing the Commissioner of Financial Institutions to temporarily suspend certain regulations under certain circumstances; requiring the Commissioner to approve or deny an application to open an additional office within 60 days after receipt of the application; revising requirements for the par value of shares of a credit union; revising provisions relating to certain operations of a credit union; revising requirements for the board of directors of a credit union; revising provisions relating to membership in a credit union; revising provisions relating to certain reserves, loans and investments of a credit union; and providing other matters properly relating thereto. - Status: signed - Chamber: Senate - Introduced: 2025-03-17 - Last action: 2025-05-31, Approved by the Governor. Chapter 206. - Sponsor: Julie Pazina (Democratic) - Cosponsors: 0 - Subjects: BDR 55-605 - Touches household money: yes - Roll calls: 2 (63 yes, 0 no in all) - Economic provisions PRIA read: 8 ## Summary No summary available. ## Bill overview: provisions PRIA read - Faster decisions on new branches: benefit, low. A credit union may open offices away from its main office with the Commissioner’s approval. The Commissioner must approve or deny an application within 60 days of receiving it. The old rule that a new office had to be reasonably necessary to serve members is removed. - Lower costs to join credit unions: benefit, low. A credit union may run open promotions that pay a new member’s entrance fee or the cost of required shares or the first installment. The minimum par value for a share is $1 or a multiple of $1. The bylaws may set a fixed par value or let the board change it by resolution. Boards may appoint members… - Modern rules for meetings and voting: benefit, low. Members have a reasonable chance to take part and vote at meetings. Unless the articles or bylaws say otherwise, you may join annual or special meetings by phone, video, or similar tech, and that counts as being present. Directors may also meet by phone or video, and that counts as in-person. The b… - Nonmembers may hold shares: benefit, low. A low‑income credit union approved under 12 C.F.R. 701.34 may issue shares to nonmembers. Nonmember shares cannot be more than 20% of the credit union’s unimpaired capital and surplus unless the Commissioner gives written approval for more. - New loan limits and co-borrowers: mixed, medium. Starting Oct 1, 2025, a credit union cannot lend to one member more than 10% of the credit union’s unimpaired capital and surplus. Starting Oct 1, 2025, nonmembers may co-apply, co-borrow, co-sign, or guarantee a member’s loan, but they do not get other member services unless they later join. Start… - Regulator can pause rules in emergencies: mixed, medium. The Commissioner may temporarily suspend a regulation after a state emergency or disaster is declared, or when the Commissioner finds it is in the public interest. Each order lasts up to 90 days and may be extended once for up to 90 more days. The order must name the rule, state the reason, give st… - More investments and property rules: mixed, medium. Starting Oct 1, 2025, credit unions may buy municipal bonds issued outside Nevada if they document the bond is investment grade by a rating the Commissioner approves from Moody’s, S&P, or Fitch. Total municipal holdings cannot be more than 75% of net worth, and no single issuer can be more than 25%… - Stronger reserves and federal alignment: mixed, medium. Credit unions must keep a regular reserve that follows federal rule 12 C.F.R. Part 702. If a credit union is privately insured, it must notify or seek approval from the Commissioner in the same cases a federally insured credit union would with the NCUA. Each credit union must also keep special rese… ## Sponsors and cosponsors - Sponsor: Julie Pazina (Democratic), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-05-22 | House | Final Passage - Assembly (1st Reprint) | pass | 42 | 0 | | | 2025-04-21 | Senate | Final Passage - Senate (1st Reprint) | pass | 21 | 0 | | ## Actions (19) - 2025-05-31: Approved by the Governor. Chapter 206. (legislature) - 2025-05-27: Enrolled and delivered to Governor. (legislature) - 2025-05-23: To enrollment. (Senate) - 2025-05-22: In Senate. (Senate) - 2025-05-22: Read third time. Passed. Title approved. (Yeas: 42, Nays: None.) To Senate. (House) - 2025-05-21: Taken from General File. Placed on General File for next legislative day. (House) - 2025-05-20: Read second time. (House) - 2025-05-19: From committee: Do pass. (House) - 2025-04-24: Read first time. Referred to Committee on Commerce and Labor. To committee. (House) - 2025-04-24: In Assembly. (House) - 2025-04-23: To Assembly. (Senate) - 2025-04-23: From printer. To engrossment. Engrossed. First reprint. (Senate) - 2025-04-21: Read third time. Passed, as amended. Title approved. (Yeas: 21, Nays: None.) To printer. (Senate) - 2025-04-18: Reprinting dispensed with. (Senate) - 2025-04-18: Read second time. Amended. (Amend. No. 316.) (Senate) - 2025-04-18: Placed on Second Reading File. (Senate) - 2025-04-18: From committee: Amend, and do pass as amended. (Senate) - 2025-03-18: From printer. To committee. (Senate) - 2025-03-17: Read first time. Referred to Committee on Commerce and Labor. To printer. (Senate) ## Bill text - As Enrolled: [PDF](https://www.leg.state.nv.us/Session/83rd2025/Bills/SB/SB375_EN.pdf) - As Introduced: [PDF](https://www.leg.state.nv.us/Session/83rd2025/Bills/SB/SB375.pdf) - Reprint 1: [PDF](https://www.leg.state.nv.us/Session/83rd2025/Bills/SB/SB375_R1.pdf) ## Related bills - SB217: AN ACT relating to health care; prohibiting a governmental entity from substantially burdening certain activity relating to assisted reproduction under certain… (vetoed) - AB499: AN ACT relating to elections; requiring, with certain exceptions, a registered voter show photo identification to vote in person; requiring the Department of M… (vetoed) - AB397: AN ACT relating to higher education; revising provisions governing certain waivers of fees provided by the Board of Regents of the University of Nevada; revisi… (vetoed) - AB259: AN ACT relating to health care; prohibiting certain actions related to pricing and reimbursement for certain drugs; creating a cause of action for violating su… (vetoed) - AB188: AN ACT relating to the Public Employees' Benefits Program; requiring the Board of the Public Employees' Benefits Program to report certain information relating… (vetoed) - SB352: AN ACT relating to health care; prohibiting certain health insurers and providers of health care from engaging in certain discriminatory actions; and providing… (vetoed) ## Sources - [As Enrolled (PDF)](https://www.leg.state.nv.us/Session/83rd2025/Bills/SB/SB375_EN.pdf) - [As Introduced (PDF)](https://www.leg.state.nv.us/Session/83rd2025/Bills/SB/SB375.pdf) - [Reprint 1 (PDF)](https://www.leg.state.nv.us/Session/83rd2025/Bills/SB/SB375_R1.pdf) ## Related - [SB217: AN ACT relating to health care; prohibiting a governmental entity from substant…](https://policyrisk.com/state-bill/NV-SB217-83rd2025) - [AB499: AN ACT relating to elections; requiring, with certain exceptions, a registered…](https://policyrisk.com/state-bill/NV-AB499-83rd2025) - [AB397: AN ACT relating to higher education; revising provisions governing certain waiv…](https://policyrisk.com/state-bill/NV-AB397-83rd2025) - [AB259: AN ACT relating to health care; prohibiting certain actions related to pricing…](https://policyrisk.com/state-bill/NV-AB259-83rd2025) - [AB188: AN ACT relating to the Public Employees' Benefits Program; requiring the Board…](https://policyrisk.com/state-bill/NV-AB188-83rd2025) - [SB352: AN ACT relating to health care; prohibiting certain health insurers and provide…](https://policyrisk.com/state-bill/NV-SB352-83rd2025) - [Nevada bills](https://policyrisk.com/states/nevada/bills) - [Nevada state hub](https://policyrisk.com/states/nevada) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/NV-SB375-83rd2025 (as of 2026-11-01).