Nevada § 672.420 Officers: Election; designation; bonds; terms; duties

Nevada Statutes

§ 672.420 — Officers: Election; designation; bonds; terms; duties

Nevada § 672.420

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 672Credit

DIRECTORS, OFFICERS AND COMMITTEES

This text of Nevada § 672.420 (Officers: Election; designation; bonds; terms; duties) 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. § 672.420 (2026).

Text

1. At the organizational meeting and within 30 days following each annual meeting, the directors shall elect, from their own number, the executive officers of the corporation. The officers must be designated as:

(a)Chair of the board;

(b)Vice chair of the board;

(c)Treasurer; and

(d)Secretary. Ê The treasurer and secretary may be the same person. 2. The treasurer or general manager shall give a fidelity bond with good and sufficient surety in an amount and character to be determined by the board in compliance with regulations prescribed by the Commissioner. 3. Each officer shall serve a term of 1 year or until such time as successors are chosen and have qualified. 4. The duties of each office must be as prescribed in the bylaws of the credit union.

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1. At the organizational meeting and within 30 days following each annual meeting, the directors shall elect, from their own number, the executive officers of the corporation. The officers must be designated as:
(a) Chair of the board;
(b) Vice chair of the board;
(c) Treasurer; and
(d) Secretary.
Ê The treasurer and secretary may be the same person.
2. The treasurer or general manager shall give a fidelity bond with good and sufficient surety in an amount and character to be determined by the board in compliance with regulations prescribed by the Commissioner.
3. Each officer shall serve a term of 1 year or until such time as successors are chosen and have qualified.
4. The duties of each office must be as prescribed in the bylaws of the credit union.