NRS 658.115
Summary orders of Commissioner.


1.

The Commissioner shall make summary orders in writing as provided in subsections 2 to 5, inclusive.

2.

If a bank, a member of its board of directors or any manager, officer, employee, member or stockholder violates the articles of incorporation or organization of the bank or any law related to banking, or, in the opinion of the Commissioner, is conducting its business in an unauthorized or unsafe manner, the Commissioner shall forthwith issue an order, in writing, directing the discontinuance of the unauthorized or unsafe practices.

3.

If it appears to the Commissioner that the stockholders’ or members’ equity of any bank has been reduced below the requirements of law, or that the articles of incorporation of the bank have been unlawfully amended to reduce the authorized stock of the bank in violation of NRS 661.035, the Commissioner shall forthwith issue an order directing the bank to make good the deficiency forthwith or within a time specified in the order.

4.

If it appears to the Commissioner that the total reserves or reserves on hand of any bank are below the amount required by law to be maintained, or that a bank is not keeping its reserves on hand as required by chapters 657 to 671, inclusive, of NRS, the Commissioner shall forthwith issue an order directing the bank to make good its reserves forthwith, or within the time specified within the order, or that it keep its reserves on hand as required by this title.

5.

If it appears to the Commissioner that any bank to which chapters 657 to 671, inclusive, of NRS are applicable does not keep its books or accounts in such a manner as to enable the Commissioner readily to ascertain its true condition, the Commissioner shall issue an order requiring the bank, or the officers or managers thereof, or any of them, to open and keep its books or accounts as he or she may, in the Commissioner’s discretion, determine and prescribe for the purpose of keeping accurate and convenient records of the transactions and accounts of the bank.

Source: Section 658.115 — Summary orders of Commissioner., https://www.­leg.­state.­nv.­us/NRS/NRS-658.­html#NRS658Sec115.

658.015
Administration of provisions of certain chapters.
658.021
Commissioner: Qualifications
658.025
Commissioner prohibited from having interest in bank or regulated corporation.
658.035
Oath of Commissioner.
658.045
Office.
658.055
Deputy commissioners
658.065
Oath of deputy commissioners.
658.085
Advisory capacity of State Board of Finance.
658.091
Deposit, use and disposition of money
658.096
Fees charged by Commissioner
658.098
Assessment for cost of legal services provided to Commissioner and Division of Financial Institutions
658.101
Rates charged by Commissioner for supervision and examination
658.105
Powers of Commissioner.
658.115
Summary orders of Commissioner.
658.125
Appeals to State Board of Finance.
658.135
Attestation of licenses, orders and certificates.
658.145
Power of Commissioner to offer rewards.
658.151
Power of Commissioner to take possession of business and property of depository institution
658.155
Penalty: Neglect of duty under certain chapters
658.165
Officers and employees of Division of Financial Institutions prohibited from having interest in certain banks
658.175
State Board of Finance bound by limitations imposed on Commissioner as to certification of new banks and establishment of branch banks.
658.185
Incidental powers of Commissioner.
658.190
Regulations concerning nontraditional mortgage loan products and certain lending practices.
658.195
Right to sue and defend in actions involving banks
658.200
Nontraditional mortgage loan products
658.210
Residential mortgage loan originator acting on behalf of privately insured institution or organization required to be licensed as mortgage loan originator.
Last Updated

Jun. 24, 2021

§ 658.115’s source at nv​.us