673.324 - Permissible loans. - Nevada Statutes

673.324  Permissible loans.

      1.  An association may make any loan which:

      (a) Is secured by real property;

      (b) Is secured by personal property;

      (c) Results from a credit card issued by the association;

      (d) Is unsecured;

      (e) Is made to the United States, its agencies or any governmental agency of the State of Nevada; or

      (f) Is made at the discretion of the association’s directors, if the loan will not impair the insurability of the association’s accounts by the Federal Deposit Insurance Corporation.

      2.  Additional loans or advances on the same property, without intervening liens, shall be deemed to be first liens for the purpose of this chapter.

      (Added to NRS by 1957, 759; A 1969, 975; 1977, 496; 1983, 657; 1993, 2812)