Nevada § 677.230 Reserves

Nevada Statutes

§ 677.230 — Reserves

Nevada § 677.230

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 677Thrift

FORMATION

This text of Nevada § 677.230 (Reserves) 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. § 677.230 (2026).

Text

1. Except as otherwise provided in subsection 2, the Commissioner may establish the basis upon which reasonable and adequate reserves must be created and maintained, which must be no less than 3 percent of the deposits, in:

(a)Cash and due from federally insured financial institutions in this state, financial institutions insured by a private insurer approved pursuant to NRS 672.755 , or any Federal Reserve Bank;

(b)United States treasury bills or notes;

(c)Short-term obligations of the federal or state government; or

(d)Money deposited in federally insured financial institutions in this state, financial institutions insured by a private insurer approved pursuant to NRS 672.755 , or any Federal Reserve Bank. Ê For the purposes of this subsection, “short-term” means having a maturity of

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1. Except as otherwise provided in subsection 2, the Commissioner may establish the basis upon which reasonable and adequate reserves must be created and maintained, which must be no less than 3 percent of the deposits, in:
(a) Cash and due from federally insured financial institutions in this state, financial institutions insured by a private insurer approved pursuant to NRS 672.755 , or any Federal Reserve Bank;
(b) United States treasury bills or notes;
(c) Short-term obligations of the federal or state government; or
(d) Money deposited in federally insured financial institutions in this state, financial institutions insured by a private insurer approved pursuant to NRS 672.755 , or any Federal Reserve Bank.
Ê For the purposes of this subsection, “short-term” means having a maturity of 2 years or less.
2. The Commissioner shall require a licensee who is insured by the Federal Deposit Insurance Corporation to comply with the reserve requirements established by that insurer.