673.274 - Acts prohibited when stock, surplus, undivided profits and reserves below amount specified. - Nevada Statutes

673.274  Acts prohibited when stock, surplus, undivided profits and reserves below amount specified.

      1.  No association whose stock, surplus, undivided profits and reserves are less than the amount specified in NRS 673.273 or approved by the Commissioner may:

      (a) Issue investment certificates or withdrawal accounts except in lieu of investment certificates or withdrawal accounts theretofore issued.

      (b) Receive additional money upon investment certificates or withdrawal accounts other than installment investment certificates or installment withdrawal accounts.

      2.  The provisions of this section do not prohibit the association from crediting to investment certificates the interest earned thereon, or crediting to withdrawable accounts the interest thereon, if the payment of the interest is not otherwise prohibited by the provisions of this chapter.

      (Added to NRS by 1959, 540; A 1969, 974; 1983, 653; 1987, 1967)