reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.3271 - Loans to one borrower.

A savings bank shall not make at one time loans to any one borrower, or under any one transaction, or applicable to any one project, or tract, if the savings bank would be prohibited from making such a loan under federal law applicable to federal savings banks pursuant to 12 C.F.R. § 32.3.
(Added to NRS by 1967, 1023; A 1969, 976; 1977, 511; 1983, 659, 1788; 1987, 1972; 2017, 1942)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.3272 - Payment of charges by savings bank for protection of its investments; required advance monthly payments.

1. A savings bank may pay:
(a) Current or past-due taxes, assessments or other applicable fees levied upon secured property;
(b) Insurance premiums;
(c) Life insurance premiums on policies that a savings bank may require to be assigned as additional collateral; or
(d) Any similar or other charges required for the protection or preservation of its investments or as necessary to discharge any lien.
Such payments shall be added to the unpaid loan balance and shall have the same secured status under the deed of trust provisions as the loan itself. No savings bank may require, as a condition of loan approval or in the extension of any other service, that any kind of insurance coverage be purchased from or through the savings bank or from any agency in which a director or officer of the corporation has any interest.
2. A savings bank may require advance monthly payments on:
(a) Principal.
(b) Interest.
(c) Taxes.
(d) Assessments.
(e) Insurance premiums.
(f) Other statutory charges accruing upon the secured property.
The amount of each such payment and the period over which payment will be made may be agreed upon by the parties. In the absence of such an agreement, each such payment may be equivalent to one-twelfth of the estimated annual amount due. Monthly charges may be adjusted to provide a reasonable method for the payment of estimated taxes, assessments, insurance premiums and other charges. Upon receipt thereof such payments may be carried in a separate trust account or they may be applied to the loan account as a credit upon receipt and debit when disbursed.
(Added to NRS by 1969, 962; A 2017, 1943)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.332 - Property acquired at or by foreclosure or developed by savings bank.

1. A savings bank may hold, manage and convey real property, including apartments and other buildings:
(a) Acquired at or by foreclosure of the real property or a conveyance in lieu of foreclosure; or
(b) Developed or built by the savings bank.
Unless the savings bank has received a written waiver from the Commissioner, the total of money which it has advanced or committed for property which it has developed or built may not exceed twice the sum of its capital, surplus, undivided profits, loan reserve, federal insurance reserve and any other reserves specified by the Commissioner.
2. When a savings bank acquires title to any real property pursuant to subsection 1, the document representing the transaction must be recorded. This subsection does not require recordation of the evidences of any transfer of stock resulting from foreclosure of an interest in a cooperative housing corporation.
(Added to NRS by 1969, 963; A 1979, 711; 1981, 512; 1983, 1789; 1987, 1973; 2017, 1943)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.340 - Minors and married persons; payment as valid discharge of savings bank.

1. Any savings bank may issue deposit accounts or investment certificates to minors with the written consent of their parents, trustees or guardians, and to married persons, each in their own right.
2. Any payment thereon, or delivery thereof, or of any rights thereunder, to a minor of the age of 14 years or over, or to a married person, or a receipt or acquittance signed by the minor and parent, trustee or guardian or by a married person who holds such deposit accounts or investment certificates, is a valid and sufficient release and discharge of the savings bank for any such payment or delivery.
[1:116:1939; 1931 NCL § 974.10]—(NRS A 1977, 497; 2017, 1944)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.360 - Administrators, executors, guardians and trustees; payment as valid discharge of savings bank.

1. A deposit account or investment certificate of any savings bank may be purchased and held by any person as administrator, executor, guardian, or as trustee or other fiduciary, in trust for a named beneficiary or beneficiaries.
2. Any person holding a deposit account as a fiduciary may make payments upon, and withdraw, in whole or in part, the deposit account or investment certificate.
3. The withdrawal value of any such deposit account or investment certificate and interest thereon, or other rights relating thereto, may be paid or delivered to the fiduciary, and the payment or delivery to the fiduciary or a receipt or acquittance signed by the fiduciary, to whom any payment or delivery of rights is made, is a valid and sufficient release and discharge of the savings bank for the payment or delivery so made.
[Part 2:116:1939; 1931 NCL § 974.11]—(NRS A 1969, 977; 1977, 498; 2017, 1944)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.373 - Notice of overdue rental; opening of box; retention of contents in general vaults; delivery of contents to State Treasurer.

1. If the rental due on a safe-deposit box has not been paid for 90 days, the lessor may send a notice by registered or certified mail to the last known address of the lessee stating that the safe-deposit box will be opened and its contents stored at the expense of the lessee unless payment of the rental is made within 30 days. If the rental is not paid within 30 days after the mailing of the notice, the box may be opened in the presence of any officer of the lessor and a notary public. The contents must be sealed in a package by the notary public, who shall write on the outside the name of the lessee and the date of the opening of the box in the presence of the officer. The notary public and the officer shall execute a certificate reciting the name of the lessee, the date of the opening of the box and a list of its contents. The certificate must be included in the package, and a copy of the certificate must be sent by registered or certified mail to the last known address of the lessee. If the contents of the safe-deposit box have been unclaimed by the owner for 3 years or less, the package must then be placed in the general vaults of the lessor at a rental not exceeding the rental previously charged for the box, until such time that the contents will have been unclaimed by the owner for more than 3 years, at which time the lessor shall deliver the package to the State Treasurer in his or her capacity as the Administrator of Unclaimed Property pursuant to the provisions of chapter 120A of NRS.
2. If the contents of a safe-deposit box that has been opened pursuant to subsection 1 have been unclaimed by the owner for more than 3 years, the lessor shall deliver the package to the State Treasurer in his or her capacity as the Administrator of Unclaimed Property pursuant to the provisions of chapter 120A of NRS.
(Added to NRS by 1985, 2248; A 1995, 283; 2001, 1651, 2929)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.430 - Annual reports: Filing; form and contents; fees; penalty; regulations.

1. Each savings bank doing business in this State shall file annually with the Commissioner on or before March 1, a report containing the information set forth in subsection 2.
2. The annual report must contain, in such form and detail as the Commissioner may prescribe, the following:
(a) The amount of authorized capital by classes and the par value of each class of stock.
(b) A statement of its assets, liabilities and capital accounts as of the immediately preceding December 31.
(c) Any other facts which the Commissioner requires.
3. The Commissioner may impose and collect a fee of not more than $10 for each day the annual report is overdue. The Commissioner shall adopt regulations establishing the amount of the fee that may be imposed pursuant to this subsection.
4. Every savings bank shall pay to the Commissioner for supervision and examination a fee based on the rate established and, if applicable, adjusted pursuant to NRS 658.101.
[Part 21:51:1931; 1931 NCL § 970.20]—(NRS A 1957, 757; 1961, 773; 1963, 470; 1965, 1139; 1967, 979; 1969, 978; 1973, 728; 1977, 499; 1979, 1296; 1983, 1792; 1987, 1975, 2226; 1989, 921; 2003, 3233; 2005, 1878; 2007, 2152; 2017, 399, 1944)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.440 - Commissioner may require further information.

Each such foreign or domestic savings bank, association, company or corporation shall cause to be supplied to the Commissioner at any time, upon his or her demand, any information which he or she may require as to its condition, affairs or methods.
[Part 21:51:1931; 1931 NCL § 970.20]—(NRS A 1961, 773; 1983, 1793; 1987, 1976; 2017, 1945)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.450 - Hearings, investigations and examinations by Commissioner; confidentiality of examination reports and certain other information; powers of Commissioner; biennial examination required.

1. The Commissioner may conduct or cause to be conducted such hearings, investigations or examinations of the books and records, wherever they may be, relating to the affairs of such organizations as he or she may deem expedient and in aid of the proper administration of the provisions of this chapter.
2. Except as otherwise provided in NRS 673.480, all examination reports and all information obtained by the Commissioner in conducting hearings, investigations or examinations under the provisions of this chapter, including all related correspondence and memoranda, and information obtained by the Commissioner from other state or federal bank regulatory authorities with whom the Commissioner has entered into agreements for the confidential sharing of such information, and information obtained by the Commissioner relating to the examination and supervision of any corporation which is an affiliate of a savings bank is confidential and privileged information and must not be made public or otherwise disclosed to any person, firm, corporation, agency, association, governmental body, court or other entity.
3. Any information submitted by a person to the Commissioner for any purpose under this chapter shall not be construed as waiving, destroying or otherwise affecting any privilege such person may claim with respect to such information under federal or state law as to any person or entity other than the Commissioner.
4. In connection with the conduct of any hearing, investigation or examination, the Commissioner or other person designated by him or her to conduct it may:
(a) Compel the attendance of any person by subpoena.
(b) Administer oaths.
(c) Examine any person under oath concerning the business and conduct of affairs of any savings bank subject to the provisions of this chapter, and require the production of any books, papers, records, money and securities relevant to the inquiry. Any willful false swearing is perjury and is punishable as such.
5. The Commissioner shall conduct at least once every 2 years an examination of the books and records of each savings bank licensed under this chapter.
[Part 22:51:1931; A 1933, 78; 1939, 153; 1931 NCL § 970.21]—(NRS A 1961, 773; 1969, 979; 1979, 1297; 1983, 1793; 1987, 1976; 2017, 1945)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.451 - Authorization of Commissioner to investigate business; free access required; compelling attendance of witnesses.

1. For the purpose of discovering violations of this chapter or of securing information lawfully required under this chapter, the Commissioner or his or her duly authorized representatives may at any time investigate the business and examine the books, accounts, papers and records used therein of:
(a) Any savings bank;
(b) Any other person engaged in an activity regulated pursuant to the provisions of this chapter; and
(c) Any person whom the Commissioner has reasonable cause to believe is violating or is about to violate any provision of this chapter, whether or not the person claims to be within the authority or beyond the scope of this chapter.
2. For the purpose of examination, the Commissioner or his or her authorized representatives must have and be given free access to the offices and places of business, files, safes and vaults of such persons.
3. The Commissioner may require the attendance of any person and examine him or her under oath regarding:
(a) Any transaction or business regulated pursuant to the provisions of this chapter; or
(b) The subject matter of any audit, examination, investigation or hearing.
(Added to NRS by 2005, 1873; A 2017, 1946)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.453 - Enforcement of subpoena by district court.

1. In case of the refusal of any person to attend or testify or produce any papers required by the subpoena directed to be served under the provision of NRS 673.450, the Commissioner may report to the district court in and for the county in which the examination, hearing or investigation is pending by petition, setting forth that:
(a) Due notice has been given of the time and place of attendance of the person or the production of the books and papers;
(b) The person has been subpoenaed in the manner prescribed in this chapter; and
(c) The person has failed and refused to attend or produce the papers required by subpoena before the Commissioner in the examination, hearing or investigation named in the subpoena, or has refused to answer questions propounded to him or her in the course of such examination, hearing or investigation,
and asking an order of the court compelling the person to attend and testify or produce the books or papers before the Commissioner.
2. The court, upon petition of the Commissioner, shall enter an order directing the person to appear before the court at a time and place to be fixed by the court in such order, the time to be not more than 10 days from the date of the order, and then and there show cause why he or she has not attended or testified or produced the books or papers before the Commissioner. A certified copy of the order must be served upon the person. If it appears to the court that the subpoena was regularly issued by the Commissioner, the court shall thereupon enter an order that the person appear before the Commissioner at the time and place fixed in the order and testify or produce the required books or papers; and upon failure to obey the order the person shall be dealt with as for contempt of court.
(Added to NRS by 1969, 964; A 1983, 1794; 1987, 1977)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.455 - Examination of holding companies.

1. The Commissioner may, at the time of examining a savings bank, inspect the books, ledgers and minutes of any corporation which is registered or required to be registered under section 5 of the Bank Holding Company Act of 1956, 12 U.S.C. § 1844, or section 10 of the Home Owners’ Loan Act of 1933, 12 U.S.C. § 1467a, as a holding company whenever, in his or her discretion, he or she considers it advisable to ascertain facts which may relate to transactions between the holding company and the affiliated savings bank. The provisions of NRS 673.450 apply to the examination of such corporation.
2. Upon making findings to that end, the Commissioner may order the discontinuance of borrowing or lending, selling or buying of assets, extending credit or guaranteeing obligations of the holding company which has been undertaken without the written approval of the Commissioner.
3. No unreasonable supervisory fees may be imposed upon any savings bank by a holding company which controls the savings bank.
(Added to NRS by 1969, 963; A 1983, 1794; 1987, 1977; 2017, 1946)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.460 - Examinations outside State; fees and traveling expenses; regulations.

1. Whenever in connection with an examination it is necessary or expedient that the Commissioner or his or her designee, or both, leave this State, there must be assessed against the organization under examination a fee of not more than the per diem allowance and travel expenses provided for state officers and employees generally for each person while outside the State in connection with an examination, together with all actual and necessary expenses.
2. The fee charged must be remitted to the Commissioner. The Commissioner shall adopt regulations establishing the amount of the fee required pursuant to this section.
[Part 22:51:1931; A 1933, 78; 1939, 153; 1931 NCL § 970.21]—(NRS A 1959, 545; 1961, 774; 1965, 1140; 1983, 1795; 1987, 1978; 2003, 3234; 2005, 1879; 2017, 1946)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.470 - Other examinations acceptable in lieu of examination by Commissioner.

In lieu of making any examination, the Commissioner may accept any examination of any savings bank made by the Board of Governors of the Federal Reserve System, any Federal Home Loan Bank or Federal Reserve Bank, or the Federal Deposit Insurance Corporation, or may examine any such institution in conjunction with the Board of Governors of the Federal Reserve System, a Federal Home Loan Bank or Federal Reserve Bank, or the Federal Deposit Insurance Corporation.
[Part 22:51:1931; A 1933, 78; 1939, 153; 1931 NCL § 970.21]—(NRS A 1961, 774; 1983, 1795; 1987, 1978; 1993, 2812; 2017, 1947)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.483 - Audit of books and accounts.

1. Each savings bank shall, at least once each year, cause its books and accounts to be audited at its own expense by a certified public accountant or firm of such accountants selected by the savings bank and approved by the Commissioner.
2. The Commissioner may prescribe the scope of the audit.
3. A certified copy of the audit, including the management and internal control letters relating to the audit, must be furnished to the Commissioner.
(Added to NRS by 1963, 471; A 1977, 513; 1983, 1795; 1987, 1978; 2017, 1948)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.484 - Suspension or revocation of charter: Grounds; notice and hearing.

The Commissioner may after notice and hearing suspend or revoke the charter of any savings banks for:
1. Repeated failure to abide by the provisions of this chapter or the regulations adopted thereunder.
2. Failure to pay a tax as required pursuant to the provisions of chapter 363A or 363C of NRS.
(Added to NRS by 1967, 980; A 1977, 96; 1983, 1796; 1987, 1978; 2003, 20th Special Session, 226; 2015, 2948; 2017, 1948)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.4843 - Authority of Commissioner to order discontinuance of unlawful or unsafe practices; special meetings of directors concerning noncompliance.

1. If the Commissioner finds as the result of any examination or from any report made to him or her or to any savings bank doing business in this state or from any report made to any of its investors that the savings bank is violating the provisions of its articles of incorporation, charter, bylaws, or any law of this state, or is conducting its business in an unsafe or injurious manner, he or she may by an order addressed to such savings bank direct a discontinuance of such violations or unsafe or injurious practices and a conformity with all the requirements of law.
2. If a savings bank does not comply with such order, the Commissioner may order the corporate secretary to call a special directors’ meeting to consider the matter of noncompliance.
3. The meeting must be held no later than 60 days after issuance of the order to hold the meeting, unless otherwise restrained by court order or by the board. The business of the meeting must be limited to the matter of noncompliance and remedies therefor and the notice of such meeting must set forth in detail the Commissioner’s discontinuance order and order to call a directors’ meeting.
4. Action taken at the meeting is binding upon the officers of the savings bank.
(Added to NRS by 1957, 763; A 1961, 774; 1969, 979; 1983, 1796; 1987, 1979; 2017, 1949)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.4845 - Procedure; approval by savings bank and Commissioner; fee; regulations.

1. A savings bank may reorganize, merge or consolidate with another state or federal savings bank, national bank, state bank or other insured depository institution, if the reorganization, merger or consolidation is based upon a plan which has been adopted by the board of directors and approved at a regular or special stockholders’ meeting which has been called to consider the action. The approval must rest on a favorable vote of a majority of the voting power of the savings bank as established by its articles.
2. Any such plan for reorganization, merger or consolidation must be approved by the Commissioner, who shall satisfy himself or herself that the plan, if approved, would be equitable for the stockholders of the affected savings bank and other institutions subject to his or her jurisdiction and would not impair the usefulness or success of other properly conducted savings banks in the community. In submitting an application for approval of any such plan, each savings bank proposing to reorganize, merge or consolidate must provide a comprehensive review of its present financial statement and a projected view of the financial statement of the reorganized, merged or consolidated savings bank, bank or other depository institution.
3. Unless its action is specifically authorized by or taken in conformity with this chapter, no savings bank may, directly or indirectly:
(a) Reorganize, merge or consolidate.
(b) Assume liability to pay deposit accounts or other liabilities of any financial institution or any other organization, person or entity.
(c) Transfer assets to any financial institution or any other organization, person or entity in consideration of the transferee’s assumption of liability for any portion of the transferor’s deposit accounts, deposits or other liability.
(d) Acquire the assets of any financial institution or any other organization, person or entity.
4. Each application which is made under this section must be accompanied by a fee payment of not more than $300. The responsibility for payment of the fee must be shared equally by the savings banks participating in each proposed plan.
5. The Commissioner shall adopt regulations establishing the amount of the fee required pursuant to this section.
(Added to NRS by 1969, 966; A 1977, 500, 1262; 1981, 1316; 1983, 1796; 1987, 1978; 2005, 1879; 2017, 1949)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5911 - Procedure; applicable law; power to sell and transfer assets.

1. Except as otherwise provided in this section, a savings bank may go into voluntary liquidation pursuant to the provisions of NRS 78.580 or 86.491.
2. If the voluntary liquidation of the savings bank results from a vote or agreement of the stockholders or members of the savings bank, a certified copy of all proceedings of the meeting at which that action is taken, verified by the oath of the president or a manager, must be transmitted to the Commissioner for the Commissioner’s approval. If the Commissioner approves the liquidation, the Commissioner shall issue to the savings bank, under the Commissioner’s seal, a permit for that purpose. No permit may be issued by the Commissioner until the Commissioner is satisfied that provision has been made by the savings bank to satisfy and pay off all depositors and all creditors of the savings bank. If the Commissioner is not satisfied, the Commissioner shall not issue a permit, but the Commissioner may take possession of the savings bank, its assets and business, and liquidate the savings bank in the manner provided by this chapter.
3. When the Commissioner approves the voluntary liquidation of a savings bank pursuant to subsection 2, the directors or managers of the savings bank shall cause to be published, in a newspaper in the city, town or county in which the main office of the savings bank is located, a notice that the savings bank is closing its affairs and going into liquidation, and that its depositors and creditors are to present their claims for payment.
4. When any savings bank is in the process of voluntary liquidation, it is subject to examination by the Commissioner, and the savings bank shall furnish such reports, from time to time, as may be called for by the Commissioner.
5. All unclaimed deposits and dividends remaining in the hands of the savings bank are subject to the provisions of this chapter.
6. Any savings bank that is in the process of voluntary liquidation may sell and transfer to any other state bank, national bank or federal savings bank all or any portion of its assets of every kind upon such terms as may be agreed upon and approved by the Commissioner and by a majority vote of the savings bank’s board of directors or of its managers. A certified copy of the minutes of any meeting at which that action is taken, under the oath of the president or a manager, and a copy of the contract of sale and transfer must be filed with the Commissioner.
7. If a voluntary liquidation or the sale and transfer of the assets of any savings bank is approved by the Commissioner, a certified copy of that approval under seal of the Commissioner, filed in the Office of the Secretary of State, authorizes the cancellation of the articles of incorporation or organization of the savings bank, subject to its continued existence, as provided by law.
(Added to NRS by 2017, 1916)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5912 - Federal Deposit Insurance Corporation authorized to act as receiver or liquidator of closed savings bank having insured deposits; no bond required.

1. The Federal Deposit Insurance Corporation created by the Federal Deposit Insurance Act, 12 U.S.C. § 1811, may act without bond as receiver or liquidator of any savings bank which:
(a) Has been closed because of inability to meet the demands of its depositors; or
(b) Is insured by the Federal Deposit Insurance Corporation and has been taken possession of by the Commissioner pursuant to NRS 658.151.
2. The appropriate state authority having the right to appoint a receiver or liquidator of a savings bank may, upon such closing, tender to the Federal Deposit Insurance Corporation the appointment as receiver or liquidator of such savings bank. If the Federal Deposit Insurance Corporation accepts the appointment, it shall have and possess all the powers and privileges provided by the laws of this State with respect to a receiver or liquidator, respectively, of a savings bank, its depositors and other creditors, and is subject to all the duties of such receiver or liquidator, except insofar as such powers, privileges or duties are in conflict with the provisions of the Federal Deposit Insurance Act.
(Added to NRS by 2017, 1917)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5913 - Acceptance of appointment as receiver or liquidator; possession of and title to assets, business and property rests in Federal Deposit Insurance Corporation.

Upon the acceptance of the appointment as receiver or liquidator by the Federal Deposit Insurance Corporation, the possession of and title to all the assets, business and property of such savings bank of every kind and nature shall pass to and vest in the Federal Deposit Insurance Corporation without the execution of any instruments of conveyance, assignment, transfer or endorsement.
(Added to NRS by 2017, 1917)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5914 - Enforcement of individual liability of stockholders or members and directors or managers of savings bank in receivership or liquidation.

Among its other powers, the Federal Deposit Insurance Corporation, in the performance of its powers and duties as receiver or liquidator, may, upon the order of a court of record of competent jurisdiction, enforce the individual liability of the stockholders or members and directors or managers of any such savings bank.
(Added to NRS by 2017, 1917)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5915 - Payment of insured deposits; subrogation.

1. When any state savings bank has been closed as provided in NRS 673.5912, and the Federal Deposit Insurance Corporation pays, or makes available for payment, the insured deposit liabilities of such closed savings bank, the Federal Deposit Insurance Corporation, whether or not it has become receiver or liquidator of such closed savings bank, must be subrogated to all rights against such closed bank of the owners of such deposits in the same manner and to the same extent as subrogation of the Federal Deposit Insurance Corporation is provided for in the Federal Deposit Insurance Act in the case of the closing of a national bank.
2. The rights of depositors and other creditors of such closed savings bank will be determined in accordance with the applicable provisions of the laws of this State.
(Added to NRS by 2017, 1918)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5916 - Loans to closed savings banks by Federal Deposit Insurance Corporation; sale of assets of savings banks to Federal Deposit Insurance Corporation.

1. Any savings bank which is, or may hereafter be, closed on account of inability to meet the demands of its depositors, by action of the Commissioner, by action of a court, by action of its directors or due to its insolvency or suspension, the Commissioner, or the receiver or liquidator of the savings bank with the permission of the Commissioner, may borrow from the Federal Deposit Insurance Corporation and furnish any part or all of the assets of the savings bank to the Federal Deposit Insurance Corporation as security for a loan from it, but where the Federal Deposit Insurance Corporation is acting as the receiver or liquidator, the order of a court of record of competent jurisdiction must be first obtained approving the loan.
2. The Commissioner, or the receiver or liquidator of any savings bank with the permission of the Commissioner, upon the order of a court of record of competent jurisdiction, may sell to the Federal Deposit Insurance Corporation any part or all of the assets of the savings bank.
3. The provisions of this section do not limit the power of any savings bank, the Commissioner, receivers or liquidators to pledge or sell assets in accordance with any other existing law.
(Added to NRS by 2017, 1918)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5917 - Commissioner to furnish copies of examinations and reports to Federal Deposit Insurance Corporation.

1. The Commissioner shall furnish to the Federal Deposit Insurance Corporation, or to any official or examiner thereof, a copy of all examinations made of any savings bank and of all reports made by the savings bank. The Commissioner shall give access to and disclose to the Federal Deposit Insurance Corporation, or to any official or examiner thereof, all information possessed by the office of the Division of Financial Institutions with reference to the conditions or affairs of any savings bank.
2. Nothing in this section limits:
(a) The duty of any savings bank in this State from complying with the provisions of the Federal Deposit Insurance Act, its amendments or substitutions, or the requirements of the Federal Deposit Insurance Corporation relative to examinations and reports; or
(b) The powers of the Commissioner with reference to examinations and reports pursuant to the provisions of chapters 657 to 671, inclusive, of NRS.
(Added to NRS by 2017, 1918)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5919 - Destruction of records of liquidated insolvent savings banks.

1. Except as otherwise provided in subsections 2 and 3, after the expiration of 10 years from the filing by the Commissioner of a final report of liquidation of any insolvent savings bank, the Commissioner, with the consent of the State Board of Finance, may destroy the records of any insolvent savings bank held in the Office of the Commissioner in connection with the liquidation of the savings bank.
2. If there are any unpaid dividends of the insolvent savings bank, the Commissioner shall preserve the deposit ledger or other evidence of indebtedness of the savings bank which refers to the unpaid dividends until the dividends have been paid.
3. The Commissioner may not destroy any of the formal records of liquidation or any of the records made in the Commissioner’s office with reference to the liquidation of any insolvent savings bank.
(Added to NRS by 2017, 1918)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5921 - Termination of trusteeship under security instruments upon insolvency; appointment of successor trustee by petition to district court or pursuant to security instrument.

1. Except as otherwise provided in subsection 2, if any savings bank that has been or is appointed trustee in any indenture, deed of trust or other instrument of like character, executed to secure the payment of any bonds, notes or other evidences of indebtedness, is taken over for liquidation by the Commissioner, by the Federal Deposit Insurance Corporation or by any other legally constituted authority, the powers and duties of the savings bank as trustee cease upon the entry of an order of the district court appointing a successor trustee pursuant to a petition as provided for in NRS 673.5922 to 673.5927, inclusive.
2. If an indenture, deed of trust or other instrument of like character that appoints a savings bank as trustee pursuant to subsection 1 includes a provision which provides for the appointment of a successor trustee if the savings bank is taken over for liquidation, the powers and duties of the savings bank as trustee cease upon being taken over by the Commissioner, the Federal Deposit Insurance Corporation or any other legally constituted authority and the successor trustee named, or whose selection is provided for, in the instrument immediately assumes the duties as trustee without appointment by the district court pursuant to NRS 673.5922 to 673.5927, inclusive.
(Added to NRS by 2017, 1919)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5922 - Petition for appointment of successor trustee by district court: Order to appear and show cause why successor trustee should not be appointed; publication and contents of notice.

1. In all cases to which subsection 1 of NRS 673.5921 is applicable, the district court for the county in which such indenture, deed of trust or other instrument of like character is recorded shall, upon the verified petition of any person interested in any such trust, either as trustee, beneficiary or otherwise, which interest must be set out in the petition, issue its order directing service on all interested parties, personally or by the publication in a newspaper published in the county, or in some adjoining county if no newspaper is published in the county where the application is made, of a notice directed to all persons concerned, commanding and requiring all persons having any interest in the trust, to appear in court on a day designated in the order and notice, not less than 30 days after the date of the order and notice, to show cause why a new trustee should not be appointed.
2. Such notice must be published in the manner required by the Nevada Rules of Civil Procedure for service of summons by publication, and shall set forth the names of the parties to the indenture, deed of trust or other such instrument, the date thereof, and the place or places where such instrument is recorded.
(Added to NRS by 2017, 1919)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5923 - Appointment of successor trustee when no objection made.

If, upon the day fixed in the order and notice, no person appears and objects to the appointment of a substitute trustee, the district court shall, upon such terms as it deems advisable to serve the best interest of all interested parties, appoint some competent person, or corporation authorized to act as a trustee, as a substitute trustee. Such appointed trustee is vested with and shall exercise all the powers conferred upon the trustee named in the instrument.
(Added to NRS by 2017, 1919)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5924 - Hearing on objections to appointment of successor trustee; appeal from order.

If, upon the day fixed in the order and notice, objection is made to the appointment of a new trustee, the court shall hear and determine the matter. An appeal may be taken from the decision of the court by any party who made an appearance in the proceeding.
(Added to NRS by 2017, 1920)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5925 - Recordation of order appointing successor trustee.

The final order of appointment of any such new trustee upon its entry must be recorded in the office of the county recorder in the county or counties in which the instrument under which such appointment has been made is recorded, and a minute of the same must be entered by the county recorder on the margin of the record where the original instrument is recorded.
(Added to NRS by 2017, 1920)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5926 - Petition and order may relate to all instruments in which former trustee was named.

The petition and the order appointing such new trustee may include, relate to and apply to any number of indentures, deeds of trust or other instruments, wherein the same trustee is named.
(Added to NRS by 2017, 1920)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5928 - Validation of sales by liquidator under security instruments giving power of sale.

If the Commissioner, the Federal Deposit Insurance Corporation or any liquidating agent appointed pursuant to the provisions of NRS 673.5912 to 673.5917, inclusive, exercises the power of sale set up in any mortgage, deed of trust or other written instrument for the security of the payment of money in which any savings bank then in liquidation was named trustee, the exercise of the power of sale and the acts of resigning the trust, of the Commissioner, the Federal Deposit Insurance Corporation or the appointed liquidating agent have the same effect as if done by the savings bank named as trustee in the mortgage, deed of trust or other instrument.
(Added to NRS by 2017, 1920)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5929 - Conditions under which savings banks may reopen.

When the Commissioner or the Federal Deposit Insurance Corporation has taken possession of any savings bank, the savings bank may, with the consent of the Commissioner, resume business upon such terms and conditions as may be approved by the Commissioner and the Federal Deposit Insurance Corporation.
(Added to NRS by 2017, 1920)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.5931 - Conditions under which savings bank may reorganize before actual dissolution.

1. When any savings bank is authorized to dissolve and has taken the necessary steps to effect dissolution in accordance with the laws of this State or the laws of the United States, but before actual dissolution, a majority of the directors or managers of the savings bank, upon authority in writing of the owners of two-thirds of its stock or two-thirds of the members’ interests and with the approval of the Commissioner, may execute articles of incorporation or organization as provided in this chapter for the organization of a new savings bank. The articles must further set forth the authority derived from the stockholders or members of the savings bank.
2. Upon the filing of articles of incorporation or organization in the same manner as provided for the organization of new savings banks, the reorganized savings bank is a savings bank under the laws of this State. Upon reorganization, all assets, real and personal, of the dissolved savings bank, by operation of law, vest in and become the property of the reorganized savings bank, subject to all liabilities of the savings bank existing before the reorganization.
(Added to NRS by 2017, 1920)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.595 - Certain foreign savings banks not required to be licensed under chapter; certain foreign savings banks permitted to operate and establish service offices in this State; limitations.

1. Except as otherwise provided in this section, a foreign savings bank shall be considered a savings bank subject to the provisions of this chapter for the purpose of engaging in any activities for which a license or other approval by the Commissioner is required pursuant to this chapter, except that a foreign savings bank whose activities are limited to any one or more of those enumerated in NRS 80.015 need not be licensed under this chapter.
2. A foreign savings bank organized under the laws of another state or the United States which is insured by the Federal Deposit Insurance Corporation may operate in this State in accordance with the provisions of this chapter on the same terms as a savings bank organized under this chapter, but only to the extent that the laws of the state under which the foreign savings bank is organized permit a savings bank organized under this chapter to operate in accordance with the laws of that state on the same terms as the foreign savings bank.
3. A foreign savings bank organized under the laws of another state or the United States which is insured by the Federal Deposit Insurance Corporation may establish one or more service offices within this State as allowed by this chapter, but only to the same extent, and subject to the same restrictions, that the laws of the state under which the foreign savings bank is organized allows a savings bank organized under this chapter to establish and maintain one or more service offices within that state.
(Added to NRS by 1969, 962; A 1979, 1297; 1983, 1325, 1803; 1985, 2158; 1989, 627; 1991, 1317; 1995, 1564; 2017, 1950)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.597 - Conflict of laws; report to Commissioner of forbidden course or act.

1. If any savings bank, association, company or corporation organized or incorporated under the laws of any governing body other than the State of Nevada is doing business in this state under the provisions of this chapter, and the laws of the other governing body conflict with any of the provisions of this chapter, the provisions of the laws of this governing body prevail as to each conflict.
2. Whenever any foreign organization follows a course or performs any act which is forbidden to any domestic organization under the terms of this chapter, it shall report to the Commissioner all of the facts relating thereto.
[Part 12:51:1931; A 1933, 78; 1955, 589]—(NRS A 1959, 57; 1961, 772; 1969, 978; 1983, 1792; 1985, 2251; 1987, 1986; 2017, 1950)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.600 - Conversion authorized.

Any savings bank may convert itself into a federal savings bank pursuant to the Home Owners’ Loan Act of 1933, 12 U.S.C. §§ 1461 to 1468, inclusive, a national bank pursuant to the National Bank Act, 12 U.S.C. §§ 214 to 214d, inclusive, or a state bank pursuant to chapters 657 to 671, inclusive, of NRS, with the same effect as though originally incorporated under the act or title, as applicable, and the proceedings to effect the conversion shall be as outlined in NRS 673.610 to 673.640, inclusive.
[Part 1:60:1935; 1931 NCL § 973.01]—(NRS A 1977, 503; 2017, 1950)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.610 - Notice of stockholders’ meeting: Service and proof of service.

1. A meeting of the stockholders shall be held upon not less than 10 days’ written notice to each stockholder, served either personally or by mail, postage prepaid, directed to him or her at his or her last known post office address and containing a statement of the time, place and the purpose for which the meeting is called.
2. Proof by affidavit of due service of the notice shall be filed in the office of the corporation before or at the time of the meeting.
[Part 1:60:1935; 1931 NCL § 973.01]—(NRS A 1977, 503)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.620 - Majority approval of resolution at stockholders’ meeting required; filing of minutes with Commissioner.

1. At a meeting of the stockholders held as provided in NRS 673.610, the stockholders may, by the affirmative vote of the majority of the stockholders present, in person or by proxy, declare by resolution the determination to convert the savings bank into a federal savings bank, national bank or state bank.
2. A copy of the minutes of the meeting, verified by the affidavit of the president or vice president and the secretary of the meeting, must be filed in the Office of the Commissioner within 10 days after the date of the meeting. The sworn copy of the proceedings of the meeting, when so filed, is presumptive evidence of the holding and the action of the meeting.
[Part 1:60:1935; 1931 NCL § 973.01]—(NRS A 1961, 779; 1977, 504; 1983, 1804; 1987, 1986; 2017, 1951)
2023 Nevada Revised Statutes › Chapter 673 - Savings Banks › NRS 673.630 - Filing of charter or certificate with Commissioner; fee; taxation; regulations.

1. After the holding of the meeting of stockholders, the savings bank shall take such action, in the manner prescribed or authorized by the laws of the United States or the rules and regulations promulgated pursuant thereto, as shall make it a federal savings bank, national bank or state bank, and there shall thereupon be filed in the Office of the Commissioner a copy of the charter of authorization issued to the institution by the appropriate supervising regulatory body or a certificate showing the organization of the institution as a federal savings bank, national bank or state bank, as applicable, certified by the appropriate supervising regulatory body. Upon filing with the Commissioner, the institution ceases to be a savings bank, but retains all rights, privileges and exemptions of a domestic institution of the same kind and character of its resulting charter.
2. A fee of not more than $100 must accompany the copy of the charter of authorization.
3. Federal savings banks so converted and their members are subject to the same form of taxation and on the same basis as savings banks and their stockholders, and national banks so converted and their members are subject to the same form of taxation and on the same basis as state banks and their stockholders.
4. The Commissioner shall adopt regulations establishing the amount of the fee required pursuant to this section.
[Part 1:60:1935; 1931 NCL § 973.01]—(NRS A 1961, 779; 1969, 981; 1977, 504; 1983, 1804; 1987, 1986; 2005, 1880; 2017, 1951)