Nevada Revised Statutes Title 55. Banks and Related Organizations § 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 chapters 657 to 671, inclusive, of NRS.

2. Any bank conducting a savings business may receive deposits on such terms as are authorized by its board of directors.

3. A receipt or a passbook must be issued to each depositor in a bank for all money deposited on open account.

4. The rules and regulations adopted by the bank governing deposits must be:

5. Payments from the account to the depositor must be made only if the depositor authorizes the payments. Banks issuing savings deposit receipts for accounts other than certificates of deposit or passbook accounts shall, not less often than:

deliver or mail to the depositor a statement, showing the balance on deposit in the account and each deposit made by and each payment made to the depositor during the calendar quarter.

6. Chapters 657 to 671, inclusive, of NRS do not prohibit a bank from issuing time certificates of deposit.