673.455 - Examination of holding companies. - Nevada Statutes

673.455  Examination of holding companies.

      1.  The Commissioner may, at the time of examining a savings and loan association, inspect the books, ledgers and minutes of any corporation which is registered or required to be registered under section 408 of the National Housing Act as a holding company whenever, in his or her discretion, he or she considers it advisable to ascertain facts which may relate to transactions between the holding company and the affiliated association. The provisions of NRS 673.450 apply to the examination of such corporation.

      2.  Upon making findings to that end, the Commissioner may order the discontinuance of borrowing or lending, selling or buying of assets, extending credit or guaranteeing obligations of the holding company which has been undertaken without the written approval of the Commissioner.

      3.  No unreasonable supervisory fees may be imposed upon any association by a holding company which controls an association.

      (Added to NRS by 1969, 963; A 1983, 1794; 1987, 1977)