Nevada § 677.247 Applicant required to obtain insurance of deposits; regulations

Nevada Statutes

§ 677.247 — Applicant required to obtain insurance of deposits; regulations

Nevada § 677.247

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 677Thrift

PROTECTION OF INVESTORS

This text of Nevada § 677.247 (Applicant required to obtain insurance of deposits; regulations) 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. § 677.247 (2026).

Text

1. An applicant for an authorization to engage in the business regulated pursuant to this chapter must obtain:

(a)The insurance of deposits provided pursuant to the provisions of the Federal Deposit Insurance Act, 12 U.S.C. §§ 1811 et seq.;

(b)The insurance of deposits provided pursuant to the provisions of the National Housing Act, 12 U.S.C. §§ 1701 to 1743, inclusive; or

(c)A contract for the insurance of deposits that is issued by a private insurer and approved by the Commissioner and the Commissioner of Insurance. 2. The Commissioner shall adopt regulations prescribing the requirements that must be complied with before a contract issued pursuant to paragraph (c) of subsection 1 will be approved by the Commissioner.

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1. An applicant for an authorization to engage in the business regulated pursuant to this chapter must obtain:
(a) The insurance of deposits provided pursuant to the provisions of the Federal Deposit Insurance Act, 12 U.S.C. §§ 1811 et seq.;
(b) The insurance of deposits provided pursuant to the provisions of the National Housing Act, 12 U.S.C. §§ 1701 to 1743, inclusive; or
(c) A contract for the insurance of deposits that is issued by a private insurer and approved by the Commissioner and the Commissioner of Insurance.
2. The Commissioner shall adopt regulations prescribing the requirements that must be complied with before a contract issued pursuant to paragraph (c) of subsection 1 will be approved by the Commissioner.