355.200 - Depositary bonds. - Nevada Statutes

355.200  Depositary bonds.

      1.  Whenever by the terms of any general or special law depositaries of public or other funds are required by law to give security therefor, the bonds of any Federal Home Loan Bank or the bonds of the Home Owners’ Loan Corporation, or consolidated Federal Home Loan Bank bonds, debentures or notes may be used as security for any depositary bonds or obligations wherein any kind of bonds or other security are required or may by law be deposited as security.

      2.  Whenever collateral must or may be furnished by any depositary of the State of Nevada as security for the deposit of any funds whatever, or whenever collateral must or may be deposited with any official of the State of Nevada pursuant to any statute of this state, notes and bonds insured and debentures issued by the Federal Housing Administrator and obligations of national mortgage associations shall be considered eligible collateral for such purposes.

      [4:58:1935; added 1937, 147; A 1939, 43; 1931 NCL § 3652.03a] + [2:61:1935; 1931 NCL § 3695.02]