Nevada § 673.5916 Loans to closed savings banks by Federal Deposit Insurance Corporation; sale of assets of savings banks to Federal Deposit Insurance Corporation

Nevada Statutes

§ 673.5916 — Loans to closed savings banks by Federal Deposit Insurance Corporation; sale of assets of savings banks to Federal Deposit Insurance Corporation

Nevada § 673.5916

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 673Savings

Liquidation of Insured Savings Banks

This text of Nevada § 673.5916 (Loans to closed savings banks by Federal Deposit Insurance Corporation; sale of assets of savings banks to Federal Deposit Insurance Corporation) 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. § 673.5916 (2026).

Text

1.Any savings bank which is, or may hereafter be, closed on account of inability to meet the demands of its depositors, by action of the Commissioner, by action of a court, by action of its directors or due to its insolvency or suspension, the Commissioner, or the receiver or liquidator of the savings bank with the permission of the Commissioner, may borrow from the Federal Deposit Insurance Corporation and furnish any part or all of the assets of the savings bank to the Federal Deposit Insurance Corporation as security for a loan from it, but where the Federal Deposit Insurance Corporation is acting as the receiver or liquidator, the order of a court of record of competent jurisdiction must be first obtained approving the loan.

2.The Commissioner, or the receiver or liquidator of any sa

Free access — add to your briefcase to read the full text and ask questions with AI

1. Any savings bank which is, or may hereafter be, closed on account of inability to meet the demands of its depositors, by action of the Commissioner, by action of a court, by action of its directors or due to its insolvency or suspension, the Commissioner, or the receiver or liquidator of the savings bank with the permission of the Commissioner, may borrow from the Federal Deposit Insurance Corporation and furnish any part or all of the assets of the savings bank to the Federal Deposit Insurance Corporation as security for a loan from it, but where the Federal Deposit Insurance Corporation is acting as the receiver or liquidator, the order of a court of record of competent jurisdiction must be first obtained approving the loan.
2. The Commissioner, or the receiver or liquidator of any savings bank with the permission of the Commissioner, upon the order of a court of record of competent jurisdiction, may sell to the Federal Deposit Insurance Corporation any part or all of the assets of the savings bank.
3. The provisions of this section do not limit the power of any savings bank, the Commissioner, receivers or liquidators to pledge or sell assets in accordance with any other existing law.