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Nevada Revised Statutes Title 55. Banks and Related Organizations § 677.247. Applicant required to obtain insurance of deposits; regulations

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

1. An applicant for an authorization to engage in the business regulated pursuant to this chapter must obtain:

(a) The insurance of deposits provided pursuant to the provisions of the Federal Deposit Insurance Act, 12 U.S.C. §§ 1811 et seq.;

(b) The insurance of deposits provided pursuant to the provisions of the National Housing Act, 12 U.S.C. §§ 1701 to 1743, inclusive; or

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

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

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 55. Banks and Related Organizations § 677.247. Applicant required to obtain insurance of deposits; regulations - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-55-banks-and-related-organizations/nv-rev-st-677-247/

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