356.005 - Deposit of public money in bank, credit union or savings and loan association. - Nevada Statutes

356.005  Deposit of public money in bank, credit union or savings and loan association.

      1.  The State, a local government or an agency of either, if specifically authorized by statute or a state agency if approved by the State Board of Finance, may deposit public money in any insured state or national bank, in any insured credit union or in any insured savings and loan association.

      2.  Deposits made by the State in an insured credit union or savings and loan association which is a mutual association must be evidenced by an instrument which acknowledges that the State is not a member of the association by virtue of the deposit.

      (Added to NRS by 1975, 1795; A 1979, 11, 1889; 1981, 1364)

      NRS 356.007  Preference for bank, credit union or savings and loan association within specially benefited zone.  The State, and the city or county within whose jurisdiction is located a specially benefited zone designated and approved under chapter 274 of NRS, shall give preference in its deposits of public money to banks, credit unions and savings and loan associations qualified to receive public money which are located within the specially benefited zone and are making loans to businesses located within the zone.

      (Added to NRS by 1983, 1996)