662.085 - Reserve not required against deposits secured by obligations of or guaranteed by United States; obligations as valid security. - Nevada Statutes

662.085  Reserve not required against deposits secured by obligations of or guaranteed by United States; obligations as valid security.

      1.  A bank shall not be required to maintain a reserve against deposits secured by any obligations of the United States, its agencies or any other obligations guaranteed by the United States Government or any of its agencies equal in par value to the amount of such deposits.

      2.  Such obligations shall be valid security for all loans and deposits.

      (Added to NRS by 1971, 983)