Title 55

NRS 673.260 Annual license: Fees; renewal; penalty; regulations. 1. The license specified in NRS 673.250 authorizes the company, savings bank or corporation to whom it is issued to sell its approved securities and contracts within this State for the remainder of the fiscal year e…

NRS 673.2755 Investment certificates: Rights and liabilities of holders; types of certificates; limitation on approval. 1. A savings bank may issue investment certificates, with or without passbooks. The holders of investment certificates are not liable for debts or assessments, …

NRS 673.2758 Requirements. A reserve for losses shall be maintained by each savings bank, which shall allow for the write-down of assets to their fair market value in accordance with generally accepted accounting principles to the same extent that such principles are used to dete…

NRS 673.276 Permissible investments. A savings bank may invest in: 1. Without limit, obligations of, or obligations guaranteed as to principal and interest by, the United States or any state. 2. Obligations of the United States Postal Service, whether or not guaranteed as to prin…

NRS 673.2765 Investments in certain related service companies, operating subsidiaries or financial subsidiaries. A savings bank may invest in the capital stock, obligations or other securities of a related service company, operating subsidiary or financial subsidiary, subject to …

NRS 673.2766 Investments in real property for subdivision or residential development. 1. Any investment in real property for purposes of subdivision or for residential development must not exceed the market value or appraisal valuation as evidenced by an appraisal report prepared…

NRS 673.278 Power to make loans includes power to purchase loans and make loans upon security of other loans. The power of a savings bank to make loans shall include: 1. The power to purchase loans of any type that the savings bank may make. 2. The power to make loans upon the se…

NRS 673.279 Purchases of real property contracts; conditions. A savings bank may invest its funds in the purchase of real property contracts under the following conditions only: 1. That it must acquire the merchantable title to the property covered by such contracts. 2. That the …

NRS 673.280 Certain federal obligations are legal investments. Any savings bank may invest its funds, or money in its custody, in the bonds of any Federal Home Loan Bank or Federal Reserve Bank, or in consolidated Federal Home Loan Bank or Federal Reserve Bank bonds, debentures o…

NRS 673.300 Savings bank may become member and stockholder of Federal Home Loan Bank, borrow money and invest in bonds. 1. Any savings bank which may now or hereafter be eligible to become a member of any Federal Home Loan Bank according to the terms of the Federal Home Loan Bank…

NRS 673.301 Savings bank may issue capital notes; voting rights of holders. The power of a savings bank to borrow money and contract debts shall include the power to issue capital notes evidencing such borrowings and to subordinate the same to investment certificates and other li…

NRS 673.302 Limitation on borrowing. The aggregate amount of all borrowings of any savings bank shall not exceed an amount which would impair the insurance of the accounts of the savings bank by the Federal Deposit Insurance Corporation. (Added to NRS by 1967, 1022; A 1983, 656, …

NRS 673.310 Loans and advances of credit insured by Federal Housing Administration or Department of Veterans Affairs. 1. Subject to such regulations as may be prescribed by the Federal Housing Administration or Department of Veterans Affairs, savings banks may: (a) Make such loan…

NRS 673.315 Investment in Federal National Mortgage Association, Federal Home Loan Mortgage Corporation and SLM Corporation. 1. Notwithstanding any other provision of law, any savings bank organized under the laws of this State, which has as one of its principal purposes the maki…

NRS 673.316 Additional advances or loans to borrower; renewal or extension of loans; loans on property sold by savings bank. 1. Any savings bank may: (a) Make additional advances or loans for the purpose of preserving the security of the loan or for the purpose of protecting the …

NRS 673.318 Appraisal or evaluation of real estate at time of acquisition. Every savings bank shall appraise or evaluate each parcel of real estate at the time of acquisition thereof, except where such appraisal or evaluation is not required under federal law. (Added to NRS by 19…

NRS 673.324 Permissible loans. 1. A savings bank may make any loan which: (a) Is secured by real property; (b) Is secured by personal property, including, without limitation, stock or other securities; (c) Results from a credit card issued by the savings bank; (d) Is unsecured; (…

NRS 673.3244 Loans to directors, officers, shareholders or company owned or controlled by savings bank. No savings bank may make any loan to a director, officer or principal shareholder of the savings bank or any company owned or controlled by the savings bank if such a loan woul…

NRS 673.3255 Loans to finance interest in cooperative housing corporation; first security interests. 1. A savings bank may make or invest in a loan to finance a borrower’s interest in or to refinance his or her existing interest in a cooperative housing corporation if the loan is…

NRS 673.3271 Loans to one borrower. A savings bank shall not make at one time loans to any one borrower, or under any one transaction, or applicable to any one project, or tract, if the savings bank would be prohibited from making such a loan under federal law applicable to feder…

NRS 673.3272 Payment of charges by savings bank for protection of its investments; required advance monthly payments. 1. A savings bank may pay: (a) Current or past-due taxes, assessments or other applicable fees levied upon secured property; (b) Insurance premiums; (c) Life insu…

NRS 673.332 Property acquired at or by foreclosure or developed by savings bank. 1. A savings bank may hold, manage and convey real property, including apartments and other buildings: (a) Acquired at or by foreclosure of the real property or a conveyance in lieu of foreclosure; o…

NRS 673.340 Minors and married persons; payment as valid discharge of savings bank. 1. Any savings bank may issue deposit accounts or investment certificates to minors with the written consent of their parents, trustees or guardians, and to married persons, each in their own righ…

NRS 673.360 Administrators, executors, guardians and trustees; payment as valid discharge of savings bank. 1. A deposit account or investment certificate of any savings bank may be purchased and held by any person as administrator, executor, guardian, or as trustee or other fiduc…

NRS 673.373 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 certified mail to the la…

NRS 673.430 Annual reports: Filing; form and contents; fees; penalty; regulations. 1. Each savings bank doing business in this State shall file annually with the Commissioner on or before March 1, a report containing the information set forth in subsection 2. 2. The annual report…

NRS 673.440 Commissioner may require further information. Each such foreign or domestic savings bank, association, company or corporation shall cause to be supplied to the Commissioner at any time, upon his or her demand, any information which he or she may require as to its cond…

NRS 673.450 Hearings, investigations and examinations by Commissioner; confidentiality of examination reports and certain other information; powers of Commissioner; biennial examination required. 1. The Commissioner may conduct or cause to be conducted such hearings, investigatio…

NRS 673.451 Authorization of Commissioner to investigate business; free access required; compelling attendance of witnesses. 1. For the purpose of discovering violations of this chapter or of securing information lawfully required under this chapter, the Commissioner or his or he…

NRS 673.453 Enforcement of subpoena by district court. 1. In case of the refusal of any person to attend or testify or produce any papers required by the subpoena directed to be served under the provision of NRS 673.450, the Commissioner may report to the district court in and fo…

NRS 673.455 Examination of holding companies. 1. The Commissioner may, at the time of examining a savings bank, inspect the books, ledgers and minutes of any corporation which is registered or required to be registered under section 5 of the Bank Holding Company Act of 1956, 12 U…

NRS 673.460 Examinations outside State; fees and traveling expenses; regulations. 1. Whenever in connection with an examination it is necessary or expedient that the Commissioner or his or her designee, or both, leave this State, there must be assessed against the organization un…

NRS 673.470 Other examinations acceptable in lieu of examination by Commissioner. In lieu of making any examination, the Commissioner may accept any examination of any savings bank made by the Board of Governors of the Federal Reserve System, any Federal Home Loan Bank or Federal…

NRS 673.480 Authority of Commissioner to make information available to other officers and agencies; documents, reports and information remain property of Division of Financial Institutions or Commissioner; disclosures by savings bank. 1. Before disclosing or furnishing any docume…

NRS 673.483 Audit of books and accounts. 1. Each savings bank shall, at least once each year, cause its books and accounts to be audited at its own expense by a certified public accountant or firm of such accountants selected by the savings bank and approved by the Commissioner. …

NRS 673.4835 Independent audit and examination: Payment of assessment; cooperation. Each savings bank shall pay the assessment levied pursuant to NRS 658.055 and cooperate fully with the audits and examinations performed pursuant thereto. (Added to NRS by 1987, 827; A 2017, 1948)…

NRS 673.484 Suspension or revocation of charter: Grounds; notice and hearing. The Commissioner may after notice and hearing suspend or revoke the charter of any savings banks for: 1. Repeated failure to abide by the provisions of this chapter or the regulations adopted thereunder…

NRS 673.4843 Authority of Commissioner to order discontinuance of unlawful or unsafe practices; special meetings of directors concerning noncompliance. 1. If the Commissioner finds as the result of any examination or from any report made to him or her or to any savings bank doing…

NRS 673.4845 Procedure; approval by savings bank and Commissioner; fee; regulations. 1. A savings bank may reorganize, merge or consolidate with another state or federal savings bank, national bank, state bank or other insured depository institution, if the reorganization, merger…

NRS 673.5911 Procedure; applicable law; power to sell and transfer assets. 1. Except as otherwise provided in this section, a savings bank may go into voluntary liquidation pursuant to the provisions of NRS 78.580 or 86.491. 2. If the voluntary liquidation of the savings bank res…

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…