Nevada § 661.085 Impaired stockholders’ or members’ equity: Duty of Commissioner to give notice; duty of officers and directors to require bank to make impairment good; power of Commissioner to take possession of bank

Nevada Statutes

§ 661.085 — Impaired stockholders’ or members’ equity: Duty of Commissioner to give notice; duty of officers and directors to require bank to make impairment good; power of Commissioner to take possession of bank

Nevada § 661.085

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 661Organizational

OWNERSHIP AND CONTROL

This text of Nevada § 661.085 (Impaired stockholders’ or members’ equity: Duty of Commissioner to give notice; duty of officers and directors to require bank to make impairment good; power of Commissioner to take possession of bank) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 661.085 (2026).

Text

1.If the stockholders’ or members’ equity of any bank has become impaired, the Commissioner shall notify the officers and directors of the bank to require the bank to make the impairment good within 3 months after receiving notice from the Commissioner.

2.The officers and directors of the bank who receive the notice shall immediately require the bank to make the impairment good.

3.If, within 3 months after the officers and directors of the bank receive the notice from the Commissioner, the bank fails to make the impairment good, the Commissioner may forthwith take possession of the property and business of the bank until its affairs are finally liquidated as provided by law.

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1. If the stockholders’ or members’ equity of any bank has become impaired, the Commissioner shall notify the officers and directors of the bank to require the bank to make the impairment good within 3 months after receiving notice from the Commissioner.
2. The officers and directors of the bank who receive the notice shall immediately require the bank to make the impairment good.
3. If, within 3 months after the officers and directors of the bank receive the notice from the Commissioner, the bank fails to make the impairment good, the Commissioner may forthwith take possession of the property and business of the bank until its affairs are finally liquidated as provided by law.