NRS 677.247
Applicant required to obtain insurance of deposits

  • regulations.

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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Source: Section 677.247 — Applicant required to obtain insurance of deposits; regulations., https://www.­leg.­state.­nv.­us/NRS/NRS-677.­html#NRS677Sec247.

Last Updated

Feb. 5, 2021

§ 677.247’s source at nv​.us