Title 55

NRS 673.5912 Federal Deposit Insurance Corporation authorized to act as receiver or liquidator of closed savings bank having insured deposits; no bond required. 1. The Federal Deposit Insurance Corporation created by the Federal Deposit Insurance Act, 12 U.S.C. § 1811, may act wi…

NRS 673.5913 Acceptance of appointment as receiver or liquidator; possession of and title to assets, business and property rests in Federal Deposit Insurance Corporation. Upon the acceptance of the appointment as receiver or liquidator by the Federal Deposit Insurance Corporation…

NRS 673.5914 Enforcement of individual liability of stockholders or members and directors or managers of savings bank in receivership or liquidation. Among its other powers, the Federal Deposit Insurance Corporation, in the performance of its powers and duties as receiver or liqu…

NRS 673.5915 Payment of insured deposits; subrogation. 1. When any state savings bank has been closed as provided in NRS 673.5912, and the Federal Deposit Insurance Corporation pays, or makes available for payment, the insured deposit liabilities of such closed savings bank, the …

NRS 673.5916 Loans to closed savings banks by Federal Deposit Insurance Corporation; sale of assets of savings banks to Federal Deposit Insurance Corporation. 1. Any savings bank which is, or may hereafter be, closed on account of inability to meet the demands of its depositors, …

NRS 673.5917 Commissioner to furnish copies of examinations and reports to Federal Deposit Insurance Corporation. 1. The Commissioner shall furnish to the Federal Deposit Insurance Corporation, or to any official or examiner thereof, a copy of all examinations made of any savings…

NRS 673.5918 Deposit of books, papers and records with Commissioner upon final liquidation. All books, papers and records of a savings bank which has been finally liquidated must be deposited by the receiver in the Office of the Commissioner. (Added to NRS by 2017, 1918)

NRS 673.5919 Destruction of records of liquidated insolvent savings banks. 1. Except as otherwise provided in subsections 2 and 3, after the expiration of 10 years from the filing by the Commissioner of a final report of liquidation of any insolvent savings bank, the Commissioner…

NRS 673.5921 Termination of trusteeship under security instruments upon insolvency; appointment of successor trustee by petition to district court or pursuant to security instrument. 1. Except as otherwise provided in subsection 2, if any savings bank that has been or is appointe…

NRS 673.5922 Petition for appointment of successor trustee by district court: Order to appear and show cause why successor trustee should not be appointed; publication and contents of notice. 1. In all cases to which subsection 1 of NRS 673.5921 is applicable, the district court …

NRS 673.5923 Appointment of successor trustee when no objection made. If, upon the day fixed in the order and notice, no person appears and objects to the appointment of a substitute trustee, the district court shall, upon such terms as it deems advisable to serve the best intere…

NRS 673.5924 Hearing on objections to appointment of successor trustee; appeal from order. If, upon the day fixed in the order and notice, objection is made to the appointment of a new trustee, the court shall hear and determine the matter. An appeal may be taken from the decisio…

NRS 673.5925 Recordation of order appointing successor trustee. The final order of appointment of any such new trustee upon its entry must be recorded in the office of the county recorder in the county or counties in which the instrument under which such appointment has been made…

NRS 673.5926 Petition and order may relate to all instruments in which former trustee was named. The petition and the order appointing such new trustee may include, relate to and apply to any number of indentures, deeds of trust or other instruments, wherein the same trustee is n…

NRS 673.5927 Provisions are in addition to any other remedy provided by law. NRS 673.5921 to 673.5926, inclusive, are in addition to and not in substitution for any other remedy provided by law. (Added to NRS by 2017, 1920)

NRS 673.5928 Validation of sales by liquidator under security instruments giving power of sale. If the Commissioner, the Federal Deposit Insurance Corporation or any liquidating agent appointed pursuant to the provisions of NRS 673.5912 to 673.5917, inclusive, exercises the power…

NRS 673.5929 Conditions under which savings banks may reopen. When the Commissioner or the Federal Deposit Insurance Corporation has taken possession of any savings bank, the savings bank may, with the consent of the Commissioner, resume business upon such terms and conditions as…

NRS 673.5931 Conditions under which savings bank may reorganize before actual dissolution. 1. When any savings bank is authorized to dissolve and has taken the necessary steps to effect dissolution in accordance with the laws of this State or the laws of the United States, but be…

NRS 673.595 Certain foreign savings banks not required to be licensed under chapter; certain foreign savings banks permitted to operate and establish service offices in this State; limitations. 1. Except as otherwise provided in this section, a foreign savings bank shall be consi…

NRS 673.597 Conflict of laws; report to Commissioner of forbidden course or act. 1. If any savings bank, association, company or corporation organized or incorporated under the laws of any governing body other than the State of Nevada is doing business in this state under the pro…

NRS 673.600 Conversion authorized. Any savings bank may convert itself into a federal savings bank pursuant to the Home Owners’ Loan Act of 1933, 12 U.S.C. §§ 1461 to 1468, inclusive, a national bank pursuant to the National Bank Act, 12 U.S.C. §§ 214 to 214d, inclusive, or a sta…

NRS 673.610 Notice of stockholders’ meeting: Service and proof of service. 1. A meeting of the stockholders shall be held upon not less than 10 days’ written notice to each stockholder, served either personally or by mail, postage prepaid, directed to him or her at his or her las…

NRS 673.620 Majority approval of resolution at stockholders’ meeting required; filing of minutes with Commissioner. 1. At a meeting of the stockholders held as provided in NRS 673.610, the stockholders may, by the affirmative vote of the majority of the stockholders present, in p…

NRS 673.630 Filing of charter or certificate with Commissioner; fee; taxation; regulations. 1. After the holding of the meeting of stockholders, the savings bank shall take such action, in the manner prescribed or authorized by the laws of the United States or the rules and regul…

NRS 673.640 When supervision as state savings bank ceases; when property and assets vest in converted entity; enjoyment of property by converted entity. 1. At the time when the conversion becomes effective, the savings bank shall cease to be supervised by this state pursuant to t…

NRS 673.650 Conversion authorized; votes necessary. A federal savings bank, national bank or state bank may convert itself into a savings bank under the laws of this State upon a vote of 51 percent or more of the votes of members of the converting institution cast at any regular …

NRS 673.660 Time for election of directors after conversion; time directors to hold office. At the meeting the members shall also vote upon the directors who shall be the directors of the savings bank after conversion takes effect, to hold office until the next annual meeting and…

NRS 673.670 Filing of verified minutes of stockholders’ meeting. Copies of the minutes of the proceedings of the meeting, verified by the affidavit of the president or vice president and the secretary or an assistant secretary, must be filed in the Office of the Commissioner and,…

NRS 673.680 Verified copy of minutes as presumptive evidence of holding meeting and action taken. The verified copies of the minutes of the meeting, when filed as required by NRS 673.670, shall be presumptive evidence of the holding and action of such meeting. [Part 1:140:1939; 1…

NRS 673.690 Converting institution and directors to take necessary action to incorporate as state savings bank; no minimum amount of capital required. 1. After the meeting, the converting institution shall take such action in the manner prescribed and authorized by the laws of th…

NRS 673.700 Inclusion of statement of conversion in articles permissible. The directors may, if they so desire, insert in the articles of incorporation the following statement: “This savings bank (company or corporation) is incorporated by conversion from a federal savings bank, …

NRS 673.710 Time for filing articles of incorporation with Federal Home Loan Bank or Federal Reserve Bank; number of copies; certification by Secretary of State. Within 10 days after the filing of the articles of incorporation with the Secretary of State, there shall be filed wit…

NRS 673.720 Time of cessation as federal savings bank or state or national bank; time of vesting of property in savings bank under new name and style. Upon the filing of the articles of incorporation with the Secretary of State, the institution ceases to be a federal savings bank…

NRS 673.730 Enjoyment of property by converted savings bank; savings bank as continuation of previous institution. The savings bank shall have, hold and enjoy the property mentioned in NRS 673.720 in its own right as fully and to the same extent as the property was possessed, hel…

NRS 673.740 Acts permitted executors, administrators, fiduciaries and certain other entities without obtaining court approval. Every executor, administrator, trustee, guardian, receiver, fiduciary, public corporation, political subdivision, public instrumentality, charitable, edu…

NRS 673.750 Powers and privileges same as domestic savings bank; conditions. Every federal savings bank incorporated under the provisions of the Home Owners’ Loan Act of 1933, 12 U.S.C. §§ 1461 to 1468, inclusive, as amended or supplemented, having its principal place of business…

NRS 673.773 Definitions. As used in NRS 673.773 to 673.807, inclusive, unless the context otherwise requires, the words and terms defined in NRS 673.777 to 673.797, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2007, 1490)

NRS 673.777 “Designated reporter” defined. “Designated reporter” means a person designated by a savings bank to receive reports of known or suspected exploitation of an older person or vulnerable person pursuant to NRS 673.807. (Added to NRS by 2007, 1490; A 2017, 1954)

NRS 673.783 “Exploitation” defined. “Exploitation” has the meaning ascribed to it in NRS 200.5092. (Added to NRS by 2007, 1490; A 2015, 840)

NRS 673.787 “Older person” defined. “Older person” has the meaning ascribed to it in NRS 200.5092. (Added to NRS by 2007, 1490; A 2015, 840)

NRS 673.793 “Reasonable cause to believe” defined. “Reasonable cause to believe” has the meaning ascribed to it in NRS 200.50925. (Added to NRS by 2007, 1490)

NRS 673.797 “Vulnerable person” defined. “Vulnerable person” has the meaning ascribed to it in NRS 200.5092. (Added to NRS by 2007, 1491; A 2015, 840)

NRS 673.803 Training; reporting to designated reporter. 1. Each savings bank shall provide training concerning the identification and reporting of the suspected exploitation of an older person or vulnerable person to each director, officer and employee of the savings bank who: (a…

NRS 673.807 Designated reporter: Designation; duty to report; immunity. 1. Each savings bank shall designate a person or persons to whom a director, officer or employee of the savings bank must report known or suspected exploitation of an older person or vulnerable person. 2. If …

NRS 673.810 Making false statement concerning financial condition of savings bank. Any person who knowingly makes, utters, circulates or transmits to another, or others, any statement untrue in fact, derogatory to the financial condition of any such savings bank doing business in…

NRS 673.820 Violation of chapter or fraudulent misrepresentation of contract or securities by savings bank; administrative fines. In addition to any other remedy or penalty: 1. Any savings bank which violates any provisions of this chapter or fraudulently misrepresents the terms …