673.115 - Restrictions on advertising. - Nevada Statutes

673.115  Restrictions on advertising.

      1.  An association shall not issue or publish, or cause or permit to be issued or published, any advertisement that it is doing or is permitted to do any business which is prohibited by law to an association, or which misrepresents the nature of its stock, investment certificates, savings deposits or the right of investors or depositors in respect thereto.

      2.  An association may set forth in any of its advertisements any of the purposes for which it is organized.

      3.  An association shall not issue, circulate or publish any advertisement after notice in writing from the Commissioner that in his or her opinion the advertisement is unauthorized, false, misleading or likely to deceive the public.

      4.  An association shall not:

      (a) State in any advertisement that it is under state supervision or control.

      (b) Include in any advertisement or in any instrument used by it a replica of the Great Seal of the State of Nevada.

      (c) State or imply in any advertisement that money may be invested with the association at any place other than the principal office or branch of the association.

      (d) Use the word “deposit” or “deposits” in any form of advertising, unless the use of that word is authorized in the advertising of a federal savings and loan association pursuant to federal law.

      5.  No association may offer or deliver any gift or premium to any investor or saver of an investment certificate or to any savings depositor in excess of basic cost to the association of $2.50.

      (Added to NRS by 1957, 762; A 1961, 767; 1969, 973; 1977, 491; 1983, 1779; 1987, 1962)