NRS 678.850
Organization and operation

  • rights and powers.


A central credit union may be organized and operated under the provisions of this chapter by any three credit unions incorporated within this state. A central credit union is subject to all provisions not inconsistent with this section and shall use the term “central” in its official name.


A central credit union has all the rights and powers of any other credit union organized under this chapter and, in addition, a central credit union may:


Make loans to other credit unions;


Purchase shares and make deposits in other credit unions;


Obtain the assets and liabilities of any credit union operating in this state which enters into liquidation;


Invest in and grant loans to associations of credit unions or organizations chartered to provide exclusive service to credit unions; and


Borrow money from any source and issue notes or debentures.

Source: Section 678.850 — Organization and operation; rights and powers., https://www.­leg.­state.­nv.­us/NRS/NRS-678.­html#NRS678Sec850.

Last Updated

Jun. 24, 2021

§ 678.850’s source at nv​.us