662.275 - Emergency closure: Powers of Commissioner. - Nevada Statutes

662.275  Emergency closure: Powers of Commissioner.

      1.  Whenever the Commissioner is of the opinion that an emergency exists, or that there is a reasonable probability that an emergency may develop, in this state or any part of this state, the Commissioner may, by proclamation, authorize banks located in the affected area or areas to close any or all of their offices.

      2.  In addition, if the Commissioner is of the opinion that an emergency exists, or that there is a reasonable probability that an emergency may develop, which affects or may affect a particular bank or banks, or a particular office or offices thereof, but not banks located in the area generally, the Commissioner may authorize the particular bank or banks, or office or offices so affected, to close.

      3.  The office or offices so closed must remain closed until the Commissioner proclaims that the emergency has ended, or until such earlier time as the officers of the bank determine that one or more of such offices should reopen. In either event, the bank or office which was closed may remain closed for such further time thereafter as may reasonably be required to reopen.

      (Added to NRS by 1971, 989; A 1983, 1741; 1987, 1919)