Nevada Banks and Related Organizations; Other Financial Institutions

Sec. § 661.105
Preferred stock: Conditions for issuance; inclusion in determination of compliance with requirements for stockholders’ equity.


1.

A banking corporation organized under the laws of this state may, with the approval of the Commissioner, issue preferred stock of one or more classes, in such amount and with such par value as is approved by the Commissioner, unless such an issuance is prohibited by the provisions of chapter 78 of NRS.

2.

Any preferred stock lawfully issued by a banking corporation organized under the laws of this state must be included in determining whether the banking corporation has complied with the minimum requirements for stockholders’ equity provided by chapters 657 to 671, inclusive, of NRS.
Source

Last accessed
Feb. 5, 2021