Nevada § 672.710 Loans to members: Application; approval; limitations; participation loans; payment

Nevada Statutes

§ 672.710 — Loans to members: Application; approval; limitations; participation loans; payment

Nevada § 672.710

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 672Credit

LOANS; INVESTMENTS

This text of Nevada § 672.710 (Loans to members: Application; approval; limitations; participation loans; payment) 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. § 672.710 (2026).

Text

1.A credit union may make loans to members in accordance with the provisions of the bylaws upon receipt of approval by the credit committee or loan officer at a rate of interest agreed upon by the credit union and member.

2.Every application for a loan must be made in writing upon a form furnished by the credit union which has been approved by the board. The application must include the purpose for which the loan is desired and the security, if any, offered.

3.A loan must not be made to any member in an aggregate amount in excess of 10 percent of the credit union’s unimpaired capital and surplus.

4.A credit union may participate with other credit unions, corporations or financial institutions in making loans to credit union members.

5.A member may receive a loan in installments or in

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1. A credit union may make loans to members in accordance with the provisions of the bylaws upon receipt of approval by the credit committee or loan officer at a rate of interest agreed upon by the credit union and member.
2. Every application for a loan must be made in writing upon a form furnished by the credit union which has been approved by the board. The application must include the purpose for which the loan is desired and the security, if any, offered.
3. A loan must not be made to any member in an aggregate amount in excess of 10 percent of the credit union’s unimpaired capital and surplus.
4. A credit union may participate with other credit unions, corporations or financial institutions in making loans to credit union members.
5. A member may receive a loan in installments or in one sum and may pay the whole or any part of his or her loan on any day on which the office of the credit union is open for business.