Nevada § 672.850 Organization and operation; rights and powers

Nevada Statutes

§ 672.850 — Organization and operation; rights and powers

Nevada § 672.850

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 672Credit

CENTRAL CREDIT UNIONS

This text of Nevada § 672.850 (Organization and operation; rights and powers) 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. § 672.850 (2026).

Text

1. 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. 2. 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:

(a)Make loans to other credit unions;

(b)Purchase shares and make deposits in other credit unions;

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

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

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1. 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.
2. 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:
(a) Make loans to other credit unions;
(b) Purchase shares and make deposits in other credit unions;
(c) Obtain the assets and liabilities of any credit union operating in this state which enters into liquidation;
(d) Invest in and grant loans to associations of credit unions or organizations chartered to provide exclusive service to credit unions; and
(e) Borrow money from any source and issue notes or debentures.