673.276 - Permissible investments. - Nevada Statutes

673.276  Permissible investments.  An association may invest in:

      1.  Without limit, obligations of, or obligations guaranteed as to principal and interest by, the United States or any state.

      2.  Obligations of the United States Postal Service, whether or not guaranteed as to principal and interest by the United States.

      3.  Stock of a Federal Home Loan Bank of which the association is eligible to be a member.

      4.  Any obligations or consolidated obligations of any Federal Home Loan Bank or Banks.

      5.  Stock or obligations of the Federal Deposit Insurance Corporation.

      6.  Stock or obligations of a national mortgage association or any successor or successors thereto, including the Federal National Mortgage Association.

      7.  Demand, time or savings deposits with any bank, credit union or trust company whose deposits are insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or a private insurer approved pursuant to NRS 678.755.

      8.  Stock or obligations of any corporation or agency of the United States or any state, or in deposits therewith to the extent that such a corporation or agency assists in furthering or facilitating the association’s purposes or powers.

      9.  Savings accounts of any insured association licensed by the State and of any federal savings and loan association, if the accounts of the savings and loan association are insured by the Federal Deposit Insurance Corporation.

      10.  Bonds, notes or other evidences of indebtedness which are general obligations of any city, town, county, school district or other municipal corporation or political subdivision of any state.

      11.  Capital stock and other securities of:

      (a) A state development corporation organized under the provisions of chapter 670 of NRS.

      (b) A corporation for economic revitalization and diversification organized under the provisions of chapter 670A of NRS, if the association is a member of the corporation, and to the extent of its loan limit established under NRS 670A.200.

      12.  Any other investment at the discretion of the association’s directors if, after the investment is made, the association’s accounts remain insurable by the Federal Deposit Insurance Corporation.

      (Added to NRS by 1961, 782; A 1963, 467; 1967, 1016; 1969, 974; 1971, 272; 1975, 1827; 1977, 493; 1979, 710, 1292; 1981, 281; 1983, 655, 1279; 1985, 2249; 1993, 2811; 1999, 1449)