667.065 - Payment of insured deposits; subrogation. - Nevada Statutes

667.065  Payment of insured deposits; subrogation.

      1.  When any state bank has been closed as provided in NRS 667.035, and the Federal Deposit Insurance Corporation pays, or makes available for payment, the insured deposit liabilities of such closed bank, the Federal Deposit Insurance Corporation, whether or not it has become receiver or liquidator of such closed bank, shall be subrogated to all rights against such closed bank of the owners of such deposits in the same manner and to the same extent as subrogation of the Federal Deposit Insurance Corporation is provided for in the Federal Deposit Insurance Act in the case of the closing of a national bank.

      2.  The rights of depositors and other creditors of such closed bank shall be determined in accordance with the applicable provisions of the laws of this state.

      (Added to NRS by 1971, 1002)