NRS 673.279
Purchases of real property contracts

conditions.

A savings bank may invest its funds in the purchase of real property contracts under the following conditions only:

1.

That it must acquire the merchantable title to the property covered by such contracts.

2.

That the type of property be such as would be eligible for a mortgage or deed of trust loan under this chapter.

3.

Before making any such purchase, the property shall be appraised or evaluated and the purchase approved in the same manner as in the case of the purchase of loans secured using a mortgage or deed of trust on real estate.

Source: Section 673.279 — Purchases of real property contracts; conditions., https://www.leg.state.nv.us/NRS/NRS-673.html#NRS673Sec279.

673.276
Permissible investments. 673.278
Power to make loans includes power to purchase loans and make loans upon security of other loans. 673.279
Purchases of real property contracts 673.280
Certain federal obligations are legal investments. 673.281
Restrictions on transfer or encumbrance of note and other obligations held by association. 673.300
Savings bank may become member and stockholder of Federal Home Loan Bank, borrow money and invest in bonds. 673.301
Savings bank may issue capital notes 673.302
Limitation on borrowing. 673.310
Loans and advances of credit insured by Federal Housing Administration or Department of Veterans Affairs. 673.315
Investment in Federal National Mortgage Association, Federal Home Loan Mortgage Corporation and SLM Corporation. 673.316
Additional advances or loans to borrower 673.2765
Investments in certain related service companies, operating subsidiaries or financial subsidiaries. 673.2766
Investments in real property for subdivision or residential development.

Last Updated

Feb. 5, 2021

§ 673.279’s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_673.279

Original Source: Section 673.279 — Purchases of real property contracts; conditions., https://www.leg.state.nv.us/NRS/NRS-673.html#NRS673Sec279 (last accessed Feb. 5, 2021).