Nevada § 677.570 Authority of Commissioner to liquidate or conserve company

Nevada Statutes

§ 677.570 — Authority of Commissioner to liquidate or conserve company

Nevada § 677.570

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 677Thrift

Remedial Actions

This text of Nevada § 677.570 (Authority of Commissioner to liquidate or conserve company) 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. § 677.570 (2026).

Text

When the Commissioner takes possession of the property and business of any company for the purpose of liquidation or conservation, he or she may liquidate or conserve the company. In such a liquidation or conservation the Commissioner has the same authority with reference to licensees as are vested in the Commissioner by chapters 657 to 671, inclusive, of NRS with reference to banks and in addition may deposit money coming into his or her hands in the course of liquidation in one or more state or national banks or credit unions.

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When the Commissioner takes possession of the property and business of any company for the purpose of liquidation or conservation, he or she may liquidate or conserve the company. In such a liquidation or conservation the Commissioner has the same authority with reference to licensees as are vested in the Commissioner by chapters 657 to 671, inclusive, of NRS with reference to banks and in addition may deposit money coming into his or her hands in the course of liquidation in one or more state or national banks or credit unions.