Nev. Admin. Code § 356.170

Current through October 11, 2024

Section 356.170 - Collateral pools: Withdrawal of public depositor

1. A public depositor may withdraw from a collateral pool at a depository by providing written notification of its intent to withdraw to the State Treasurer and the depository, including, without limitation, the effective date of withdrawal. The effective date of withdrawal must be more than 90 days after the State Treasurer receives written notification from the public depositor pursuant to this subsection.

2. Until the effective date of withdrawal of the public depositor, the depository of the withdrawing public depositor shall:

(a) Maintain the minimum amount of acceptable securities as collateral that is required in the agreement executed pursuant to NAC 356.120;

(b) Continue to provide the reports required pursuant to NAC 356.140; and

(c) Remain liable for any losses incurred by the collateral pool.

Nev. Admin. Code § 356.170

Added to NAC by St. Treasurer by R028-04, eff. 6-30-2004

NRS 356.350, 356.360, 356.390