Nev. Rev. Stat. § 672.850

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 672.850 - Organization and operation; rights and powers
1. A central credit union may be organized and operated under the provisions of this chapter by any three credit unions incorporated within this state. A central credit union is subject to all provisions not inconsistent with this section and shall use the term "central" in its official name.
2. A central credit union has all the rights and powers of any other credit union organized under this chapter and, in addition, a central credit union may:
(a) Make loans to other credit unions;
(b) Purchase shares and make deposits in other credit unions;
(c) Obtain the assets and liabilities of any credit union operating in this state which enters into liquidation;
(d) Invest in and grant loans to associations of credit unions or organizations chartered to provide exclusive service to credit unions; and
(e) Borrow money from any source and issue notes or debentures.

NRS 672.850

Added to NRS by 1975, 393; A 1977, 891
Added to NRS by 1975, 393; A 1977, 891