Nevada Revised Statutes Title 31. Public Financial Administration § 356.005. Deposit of public money in bank, credit union, savings and loan association or savings bank

1. The State, a local government or an agency of either, if specifically authorized by statute or a state agency if approved by the State Board of Finance, may deposit public money in any insured state or national bank, in any insured credit union, in any insured savings and loan association or in any insured savings bank.

2. Deposits made by the State in an insured credit union, savings and loan association or savings bank which is a mutual association must be evidenced by an instrument which acknowledges that the State is not a member of the association by virtue of the deposit.

3. In addition to any public money deposited pursuant to subsection 1 and unless otherwise limited by law, a local government, a political subdivision or an agency of either is authorized to deposit public money in any state or national bank, credit union, savings and loan association or savings bank if:

4. As used in this section, “depository institution” has the meaning ascribed to it in NRS 657.037.