Skip to main content
Find a Lawyer

Nevada Revised Statutes Title 55. Banks and Related Organizations § 677.241. Power of licensee to obtain benefits of federal programs or enter into contract with private insurer; regulations

Current as of January 01, 2025 | Updated by Findlaw Staff

1. Subject to the prior approval of the Commissioner, a licensee may, by a majority vote of its board of directors:

(a) Enter into a contract, incur an obligation and perform other acts necessary to obtain a membership or other benefit that is available to a thrift company or its customers, stockholders, conservators, receivers or liquidators pursuant to the provisions of:

(1) The Federal Deposit Insurance Act, 12 U.S.C. §§ 1811 et seq.;

(2) The National Housing Act, 12 U.S.C. §§ 1701 to 1743, inclusive; or

(3) A contract for the insurance of deposits that is issued by a private insurer and approved by the Commissioner and the Commissioner of Insurance.

(b) Subscribe for and acquire any stock, debentures, bonds or other types of securities of the Federal Deposit Insurance Corporation.

2. The Commissioner shall adopt regulations prescribing the requirements that must be complied with before a contract issued pursuant to subparagraph (3) of paragraph (a) of subsection 1 will be approved by the Commissioner.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Nevada Revised Statutes Title 55. Banks and Related Organizations § 677.241. Power of licensee to obtain benefits of federal programs or enter into contract with private insurer; regulations - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-55-banks-and-related-organizations/nv-rev-st-677-241/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard