673.302 - Limitation on borrowing. - Nevada Statutes

673.302  Limitation on borrowing.  The aggregate amount of all borrowings of any association in force at any one time, excluding borrowings from the Federal Home Loan Banks, the Federal Deposit Insurance Corporation or other similar federal agencies, must not exceed 5 percent of the total assets of the association without the approval of the Commissioner. The Commissioner shall not approve any borrowing which would impair the insurance of the association’s accounts by the Federal Deposit Insurance Corporation.

      (Added to NRS by 1967, 1022; A 1983, 656, 1785; 1987, 1969; 1993, 2812)