Nev. Rev. Stat. § 661.035

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 661.035 - Amendment of articles of incorporation to increase or reduce authorized stock; approval by Commissioner

1. A banking corporation may, with the approval of the Commissioner, amend its articles of incorporation to authorize an increase or reduction in its authorized stock.

2. The Commissioner shall not approve an amendment of the articles of incorporation that reduces the authorized stock of the corporation unless the Commissioner finds that the security of the existing creditors of the corporation will not be impaired.

NRS 661.035

Added to NRS by 1971, 974; A 1983, 1732; 1987, 211, 1907; 1995, 478; 1997, 981

Added to NRS by 1971, 974; A 1983, 1732; 1987, 211, 1907; 1995, 478; 1997, 981