Title 55

NRS 673.00575 “Deposit account” defined. “Deposit account” means an account that holds deposits, whether in a commercial, demand, time, checking, savings or similar type of account, or which is evidenced by a certificate of deposit, investment certificate, certificate of indebted…

NRS 673.00577 “Depository institution” defined. “Depository institution” means any state bank or savings bank, association, limited-liability company, corporation or other person organized for the purpose of conducting a banking business, whether chartered by this State, another …

NRS 673.0065 “Director” defined. “Director” means the Director of the Department of Business and Industry. (Added to NRS by 1963, 683; A 1993, 1896)

NRS 673.0075 “Division of Financial Institutions” defined. “Division of Financial Institutions” means the Division of Financial Institutions of the Department of Business and Industry. (Added to NRS by 2017, 1914)

NRS 673.0077 “Federal savings bank” defined. “Federal savings bank” means any type of federal savings association organized pursuant to the Home Owners’ Loan Act of 1933, 12 U.S.C. §§ 1461 to 1468, inclusive. (Added to NRS by 2017, 1914)

NRS 673.008 “Foreign” defined. “Foreign,” used in connection with an association, limited-liability company, corporation or other person organized for the purpose of conducting a banking business, means an association, limited-liability company, corporation or person organized fo…

NRS 673.0155 “Insolvency” or “insolvent” defined. “Insolvency” or “insolvent” means one or more of the following: 1. When a savings bank cannot meet its deposit liabilities as they become due in the regular course of business. 2. When the actual cash market value of the assets of…

NRS 673.016 “Insured depository institution” defined. “Insured depository institution” means a depository institution the deposit accounts of which are insured wholly or in part by the Federal Deposit Insurance Corporation. (Added to NRS by 1959, 538; A 1993, 2806; 2017, 1921)

NRS 673.017 “Investment certificate” defined. 1. “Investment certificate” means any certificate or contract, either paid up or purchasable on an installment basis, which is issued for the purpose of providing a means of investment or savings. 2. An accumulative investment certifi…

NRS 673.0175 “Main office” defined. “Main office” means the office of a savings bank identified as such in the application submitted pursuant to subsection 4 of NRS 673.080 or the location to which the main office is changed pursuant to subsection 14 of NRS 673.080 or other appli…

NRS 673.0185 “Merger” defined. “Merger” means that consolidation of corporate structures which results in the uniting of substantially all the assets and liabilities of one state-chartered savings bank with those of another such savings bank or state bank or with those of a feder…

NRS 673.0313 “Savings association” defined. “Savings association” means a savings association, savings and loan association or other depository institution chartered under this chapter before June 3, 2017. (Added to NRS by 2017, 1915)

NRS 673.0317 “Savings bank” defined. “Savings bank” means a depository institution subject to the provisions of this chapter to conduct the business of a savings bank. (Added to NRS by 1959, 537; A 1977, 488; 2017, 1921)

NRS 673.0321 “Service office” defined. “Service office” means any office or other place of business in this State where the functions of a savings bank that do not involve receiving deposits, paying checks or lending money are performed. (Added to NRS by 1967, 1019; A 1983, 1771;…

NRS 673.0323 “State bank” or “commercial bank” defined. “State bank” or “commercial bank” means a limited-liability company, corporation or other person organized for the purpose of conducting a banking business that is chartered by this State to conduct the business of banking a…

NRS 673.034 “Withdrawal value” defined. “Withdrawal value” means the amount credited to a deposit account, less lawful deductions therefrom, as shown by the records of the savings bank. (Added to NRS by 1959, 540; A 2017, 1922) ADMINISTRATION AND ENFORCEMENT

NRS 673.035 Administration of chapter. The Commissioner shall administer the provisions of this chapter, subject to administrative supervision by the Director. He or she shall make the decisions, determinations and enter the consents and orders necessary or reasonably appropriate…

NRS 673.03531 Certain relationships between employees of Division of Financial Institutions and savings bank prohibited; termination of prohibited relationship. 1. Except as provided in subsections 3 and 4, an officer or employee of the Division of Financial Institutions shall no…

NRS 673.039 Records of Commissioner. The Commissioner shall: 1. Keep in his or her office: (a) For no less than 5 years, every report made by a savings bank. (b) The original application of every savings bank in a permanent file. (c) Other administrative documents in the manner p…

NRS 673.040 Commissioner to supervise and make policy. The Commissioner shall supervise and make all policy with regard to all foreign and domestic savings banks, companies and corporations governed by this chapter and doing business in this state. [Part 22:51:1931; A 1933, 78; 1…

NRS 673.043 Regulations; authority of Commissioner to waive, modify or alter any requirement of chapter. 1. The Commissioner may adopt such regulations as may be reasonable or necessary to carry out the purposes of this chapter. 2. The Commissioner may, by regulation, waive, modi…

NRS 673.0435 Commissioner may secure injunctions and restraining orders. The Commissioner may cause appropriate legal action to be taken in the district court of any county to secure an injunction or order restraining a violation of any provision of this chapter. (Added to NRS by…

NRS 673.044 Notices. All notices must be in writing. All notices issued or required to be issued by the Commissioner must be sent by registered or certified mail and become effective upon their deposit in the mails. (Added to NRS by 1963, 472; A 1983, 1774; 1987, 1957)

NRS 673.045 Amendment or alteration of license by Commissioner; appeal. The Commissioner may, for reasonable cause and upon 15 days’ notice, amend or alter any license issued by him or her, but the savings bank may appeal the order of the Commissioner in the manner provided in th…

NRS 673.046 Application for license: Additional requirements; fingerprints; grounds for refusal to issue license. 1. In addition to any other requirements set forth in this chapter, each applicant must submit: (a) Proof satisfactory to the Commissioner that the applicant: (1) Has…

NRS 673.048 Suspension or revocation of license: Additional grounds. In addition to any other lawful reasons, the Commissioner may suspend or revoke a license if the licensee has engaged in any act that would be grounds for denying a license pursuant this chapter. (Added to NRS b…

NRS 673.049 Authority of Commissioner to issue subpoenas and require attendance of parties. The Commissioner may issue subpoenas and require the attendance of parties for examination. (Added to NRS by 1957, 765; A 1961, 776; 1983, 1800; 1987, 1983)

NRS 673.055 Savings associations automatically converted into savings banks; issuance by Commissioner of savings bank charters to converted entities; rights, powers, privileges, immunities and exceptions provided to converted entities. 1. Every savings association chartered under…

NRS 673.060 Deposit of money in State Treasury; payment of expenses; exceptions. Except as otherwise provided in NRS 673.080, 673.112 and 673.2176: 1. All fees, charges for expenses, assessments and other money collected under the provisions of this chapter from foreign and domes…

NRS 673.065 Applicability of provisions concerning Regulatory Experimentation Program for Product Innovation. Except as otherwise required by the Director of the Department of Business and Industry pursuant to NRS 657A.430 or 657A.620, the provisions of this chapter do not apply …

NRS 673.070 Incorporation of domestic savings banks: Procedure; applicability of chapter 78 of NRS; limitations on advertising for savings banks. 1. Savings banks, except state banks and trust companies organized pursuant to chapters 657 to 671, inclusive, of NRS, licensed broker…

NRS 673.080 Articles to be approved by Commissioner; application; permission to organize; fees; conditions; regulations; withdrawal of application. 1. The Secretary of State shall not issue any certificate to a savings bank or company authorizing it to do business until the artic…

NRS 673.090 Provisions of chapter abridge, enlarge and modify powers and privileges of foreign and domestic savings banks. The powers, privileges, duties and restrictions conferred and imposed upon any such savings bank, company or corporation, whether foreign or domestic, existi…

NRS 673.111 Required filings before savings bank begins business: Statement concerning directors, managers and officers; proof of approval of Federal Deposit Insurance Corporation to insure its deposit accounts. Before a savings bank begins business, the savings bank must file wi…

NRS 673.112 Branch offices: Definition; establishment and regulation; revocation of approval by Commissioner; advertisement; fees; regulations. 1. A branch office is a legally established place of business of a savings bank, other than the main office, which is authorized by the …

NRS 673.113 Surety bond of savings bank. 1. Every savings bank shall maintain bond coverage in such amounts and form which is acceptable to the Commissioner and the Federal Deposit Insurance Corporation. The bond coverage may allow for a deductible amount or provision adopted und…

NRS 673.114 Service offices: Authority to establish and maintain; notification to Commissioner required; service office does not constitute branch office. 1. A savings bank organized under this chapter may establish and maintain one or more service offices within or outside this …

NRS 673.115 Restrictions on advertising. 1. A savings bank shall not issue or publish, or cause or permit to be issued or published, any advertisement that it is doing or is permitted to do any business which is prohibited by law to a savings bank, or which misrepresents the natu…

NRS 673.117 Use or change of business name; prohibitions. 1. A licensee must obtain the approval of the Commissioner before using or changing a business name. 2. A licensee shall not: (a) Use any business name which is identical or similar to a business name used by another licen…

NRS 673.207 Directors: Number; filling of vacancies; amendment of bylaws. 1. The business and affairs of every savings bank must be managed and controlled by a board of not less than five nor more than 25 directors, a majority of which must not be full-time officers of the saving…

NRS 673.208 Persons requiring Commissioner’s approval to serve as director. No person is eligible to serve as a director of a savings bank without the written permission of the Commissioner if he or she: 1. Has been adjudicated bankrupt or has taken the benefit of any assignment …

NRS 673.209 Removal of director, officer or employee on objection of Commissioner. If the Commissioner notifies the board of directors of any savings bank, in writing, that he or she has information that any director, officer or employee of the savings bank is failing in the perf…

NRS 673.211 Removal of director for cause. 1. Any director may be removed from office, if he or she has become ineligible pursuant to NRS 673.209, by an affirmative vote of two-thirds of the members of the board of directors at any regular meeting of the board of directors or at …

NRS 673.212 Standard of conduct in discharge of duties of directors and officers. Directors and officers of a savings bank shall discharge the duties of their respective positions in good faith and with the diligence, care and skill which ordinary, prudent persons would exercise …

NRS 673.214 Election of officers. The board of directors of a savings bank shall elect the officers named in the bylaws of the savings bank, which officers shall serve at the pleasure of the board of directors. (Added to NRS by 1967, 1021; A 2017, 1931)

NRS 673.215 Directors: Meetings; quorum. 1. The board of directors of each savings bank shall hold a regular meeting at least once each quarter, at a time to be designated by it in accordance with its bylaws. 2. Special meetings of the board of directors may be held upon notice t…