Nevada Revised Statutes Title 31. Public Financial Administration § 356.133. Collateral required for uninsured deposits: Types; pledge; fair market value; review; reports by depository; deposit of additional securities

1. All money deposited by a county treasurer that is not within the limits of insurance provided by an instrumentality of the United States must be secured by collateral composed of the following types of securities:

2. Collateral deposited by the depository bank, credit union, savings and loan association or savings bank must be pledged with the county treasurer or with a trust company, a broker-dealer registered under 15 U.S.C. § 78o(b)(1), a Federal Home Loan Bank or any insured bank, insured credit union, insured savings and loan association or insured savings bank, other than the depository bank, credit union, savings and loan association or savings bank, which will accept the securities in trust for the purposes of this section.

3. The fair market value of the deposit of securities as collateral by each depository bank, credit union, savings and loan association or savings bank must be at least the amount required pursuant to NRS 356.300 to 356.390, inclusive.

4. All securities to be used as such collateral are subject to review by the county treasurer and the board of county commissioners. The depository bank, credit union, savings and loan association or savings bank shall submit reports to the State Treasurer as required pursuant to NRS 356.300 to 356.390, inclusive. The State Treasurer will provide periodic reports to the county treasurer showing the securities which constitute the collateral and their fair market value.

5. The county treasurer or the board of county commissioners may, from time to time, require the deposit of additional securities as collateral if, in their judgment, the additional securities are necessary to secure the county treasurer's deposit.