Nev. Rev. Stat. § 677.247

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

Section 677.247 - Applicant required to obtain insurance of deposits; regulations

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.

NRS 677.247

Added to NRS by 1985, 2194; A 1987, 2001; 1997, 1016; 2015, 2813

Amended by 2015, Ch. 477,§101.7, eff. 6/9/2015.

Added to NRS by 1985, 2194; A 1987, 2001; 1997, 1016