Title 55

NRS 662.085 Reserve not required against deposits secured by obligations of or guaranteed by United States; obligations as valid security. 1. A bank shall not be required to maintain a reserve against deposits secured by any obligations of the United States, its agencies or any o…

NRS 662.095 Investment in obligations approved by Federal Housing Administrator, Department of Veterans Affairs, national mortgage association or Federal Home Loan Bank; conditions for making loans; obligations as collateral, deposits or investment of equity; exemption from certa…

NRS 662.097 Investments in securities of management investment trust or management investment company. 1. A bank which is acting as a fiduciary or agent may, in its discretion or at the direction of another person who is authorized to direct the investment of money held by the ba…

NRS 662.101 Investments in loans to finance interests in cooperative housing corporations. 1. A bank may make or invest in a loan to finance a borrower’s interest in or to refinance the borrower’s existing interest in a cooperative housing corporation if the loan is secured by: (…

NRS 662.103 Investment in real property for development: Limitations; filing of disclosure with Commissioner; failure to make disclosure unlawful. 1. A bank may invest in real property for development, directly or through partnerships, joint ventures or other indirect methods. An…

NRS 662.105 Stock options and purchases for directors, officers and employees. Subject to any applicable regulations of the Commissioner, a banking corporation may grant options to purchase, sell or enter into agreements to sell shares of its capital stock to its directors, offic…

NRS 662.115 Issuance of capital notes, debentures and collateralized debt securities and certificates. A bank may issue capital notes, collateralized debt securities, collateralized debt certificates, or debentures, convertible or otherwise, subject to such regulations as the Com…

NRS 662.125 Limitations on lending on security of or acquisition of own stock or members’ interests; sale and ownership of collateral security. 1. Except as otherwise provided in subsection 2, no bank may make any loan or discount on the security of its own stock or members’ inte…

NRS 662.135 Limitations on investment in stock of or membership in other banks and business organizations. 1. Except as otherwise provided in this section and subject to the provisions of NRS 662.065 and 662.125, no bank may make any investment in the stock or become a member of …

NRS 662.145 Limits on amount of loans; exceptions. 1. Subject to the limitations set forth in NRS 662.155, the total outstanding loans of any bank to any person, company, corporation or firm may not at any time exceed 25 percent of the stockholders’ or members’ equity of the bank…

NRS 662.155 Limit on combination of investments and loans involving single obligor, person or entity. 1. The combination of investments in private securities provided for in subsection 5 of NRS 662.065 and outstanding loans provided for in subsection 1 of NRS 662.145, of any bank…

NRS 662.175 Limitations on borrowing money and pledging assets; exceptions; purchase of federal reserve money deemed transfer. 1. Any bank may secure money deposited with a bank by the United States, the State of Nevada or a political subdivision of this state by pledging accepta…

NRS 662.186 Operating cash: Minimum cash and demand balances; reserves. 1. Each bank doing business under the laws of this state shall have on hand, in cash, at least the sum of money determined by the Commissioner as necessary to meet the operating requirements of the bank and a…

NRS 662.205 Membership in Federal Reserve Bank: Authorization; powers, duties and examination of member. 1. As used in this section: (a) “Board of Governors of the Federal Reserve System” means the Board of Governors of the Federal Reserve System created and described in the Fede…

NRS 662.215 Authorization; deposits; requirements of receipt or passbook; quarterly or annual statements required; issuance of time certificates. 1. Any bank organized under the provisions of chapters 657 to 671, inclusive, of NRS may carry on a savings business as prescribed in …

NRS 662.225 Checks payable in exchange. In order to prevent accumulation of unnecessary amounts of currency in the vaults of the banks chartered by this state, all checks drawn on such banks shall be payable, unless specified on the face thereof to the contrary by the maker or ma…

NRS 662.231 “Business of a trust company” and “trust company business” defined. As used in NRS 662.231 to 662.245, inclusive, “business of a trust company” or “trust company business” has the meaning ascribed to it in NRS 669.029. (Added to NRS by 1999, 840)

NRS 662.235 Powers and duties when carrying on trust company business; segregation of assets and recordkeeping. 1. Any bank organized under chapters 657 to 671, inclusive, of NRS may state in its articles of incorporation that it will carry on a trust company business in connecti…

NRS 662.239 Conditions and limitations on maintaining trust offices in Nevada and other states; regulations. 1. A bank organized under chapters 657 to 671, inclusive, of NRS may maintain trust offices in this or other states with the written consent of the Commissioner. 2. Any ac…

NRS 662.245 Conditions and limitations on certain foreign organizations acting as fiduciary; fees; bond; requirements for service of process; regulations. 1. Except as otherwise provided in NRS 669.207, an organization that does not maintain an office in this State to conduct the…

NRS 662.255 Voluntary closure on Saturdays, Sundays and holidays; transaction of business. 1. A bank may elect to close on Saturdays, Sundays or legal holidays. Except as otherwise provided in subsection 2 and NRS 104.4303, if a bank elects not to close on a Saturday, Sunday or l…

NRS 662.265 Emergency closure: Definitions. As used in NRS 662.275 to 662.305, inclusive, unless the context otherwise requires: 1. “Bank” includes national banks to the extent that NRS 662.275 to 662.305, inclusive, do not conflict with or infringe upon federal law. 2. “Emergenc…

NRS 662.275 Emergency closure: Powers of Commissioner. 1. Whenever the Commissioner is of the opinion that an emergency exists, or that there is a reasonable probability that an emergency may develop, in this state or any part of this state, the Commissioner may, by proclamation,…

NRS 662.285 Emergency closure: Powers of bank’s officers. 1. Whenever the officers of a bank are of the opinion that an emergency exists, or that there is a reasonable probability that an emergency may develop, which affects or may affect one or more or all of a bank’s offices, t…

NRS 662.295 Emergency closure: Notification of Commissioner or Comptroller of the Currency. A bank closing an office or offices pursuant to subsection 1 of NRS 662.285 shall give as prompt notice of its action as conditions will permit, by any means available, to the Commissioner…

NRS 662.305 Emergency closure: Effect of closing. 1. Any day on which a bank, or any one or more of its offices, is closed during all or any part of its normal banking hours pursuant to the authorization granted under NRS 662.265 to 662.305, inclusive, shall be, with respect to s…

NRS 663.045 Depository collateral not required for insured deposits. Notwithstanding any provision of law of this state or of any political subdivision thereof requiring security for deposits in the form of collateral or surety bond or in any other form, security for such deposit…

NRS 663.055 Unlawful to receive deposit after revocation of authority to transact banking business. Any bank or credit union or officer of any bank or credit union whose authority to transact a banking business has been revoked as provided in this title, receiving any deposit of …

NRS 663.065 Deposits and safe-deposit boxes of minors. 1. When any deposit is made in a bank or credit union by a minor, the bank or credit union may pay to such depositor such sums as may be due him or her, and the receipt of such minor to such bank or credit union is valid. 2. …

NRS 663.075 School thrift or savings plans. 1. A bank or credit union may arrange for the collection of savings from school children by the principal of the school, by the teachers, or by collectors pursuant to regulations issued by the Commissioner and approved, in the case of p…

NRS 663.085 Safe-deposit boxes: Notice of overdue rental; opening of box; retention of contents in general vaults; delivery of contents to State Treasurer. 1. If the rental due on a safe-deposit box has not been paid for 90 days, the lessor may send a notice by registered or cert…

NRS 664.015 Division of Financial Institutions may authorize restriction of withdrawals; procedure; segregation of new deposits. 1. The Division of Financial Institutions may, upon a proper application in writing showing good cause therefor, authorize any bank in this state or or…

NRS 664.025 Cashier’s check acceptable in lieu of certified check. Any time that a certified check is required in any legal document or transaction, the effectiveness of which document or transaction is governed by the laws of this state, a bank may issue a cashier’s check which …

NRS 665.015 Commissioner to provide forms for examinations and reports; preservation of reports. 1. For the purpose of carrying into effect the provisions of chapters 657 to 671, inclusive, of NRS, the Commissioner shall provide the necessary forms for all examinations and report…

NRS 665.025 Commissioner to make examinations of banks. The Commissioner shall make a thorough examination of and into the affairs of every bank doing business under chapters 657 to 671, inclusive, of NRS, as often as the Commissioner may deem necessary, but at least once within …

NRS 665.035 Reports of examination. 1. The results of the examinations and inquiries must be reduced to a written report and signed by the Commissioner or the Commissioner’s deputies. 2. The report must contain a true and detailed statement of the condition of a bank, and must al…

NRS 665.045 Service and availability of copies of report; correction of conditions. Upon the preparation of the report as provided in NRS 665.035, the Commissioner shall forthwith serve a copy thereof on the president or secretary of the board of directors of the banking corporat…

NRS 665.075 Nature, review and disclosure of contents of report. 1. The report of examination made by an examiner of the Division of Financial Institutions is designed for use in the supervision of the bank. The bank’s copy of the report is the property of the Commissioner and is…

NRS 665.086 Examination of records of holding company controlling depository institution; required action to maintain solvency or prevent failure of subsidiary. If the Commissioner finds that it is in the public interest and necessary to protect the depositors and other customers…

NRS 665.095 Certified copies of records as evidence. In all civil actions in the courts of this state wherein any of the records of the Commissioner are involved as evidence or otherwise, a certified copy of such a record signed and sealed by the Commissioner, is admissible in ev…

NRS 665.105 Reports to Commissioner: General requirements. 1. Every bank shall make at least four reports each year to the Commissioner at the same times and substantially in the form of similar reports required by the Comptroller of the Currency, the Federal Reserve Bank or the …

NRS 665.115 Penalties for failure to make reports; collection of penalties by civil actions; disposition of money collected. 1. Every bank which fails to make and transmit or to publish any report required under chapters 657 to 671, inclusive, of NRS is subject to a penalty of $5…

NRS 665.125 Powers and duties concerning examinations. 1. The examiners of financial institutions shall verify all reports made to the Commissioner by the officers and directors of any banking corporation, as required by chapters 657 to 671, inclusive, of NRS or by the Commission…

NRS 665.130 Receipt and certification of reports; disclosure of information prohibited; exception. The Commissioner shall receive and place on file in the Commissioner’s office all reports required by law and shall certify all reports required to be published. The reports filed w…

NRS 665.133 Disclosure of reports and other information obtained from depository institutions; use of information. 1. The records and information described in NRS 665.130 may be disclosed to: (a) An agency of the Federal Government or of another state which regulates the financia…

NRS 665.135 Administration of oaths and summoning of witnesses for purposes of examination. In making the examinations required by chapters 657 to 671, inclusive, of NRS, the Commissioner and any appointed examiner may administer oaths to examine any officer, director, manager, a…