677.660 - Advertising: Prohibitions; insurance of deposits. - Nevada Statutes

677.660  Advertising: Prohibitions; insurance of deposits.

      1.  A person shall not advertise, print, display, publish, distribute or broadcast or cause or permit to be advertised, printed, displayed, published, distributed or broadcast, in any manner, any statement or representation with regard to the rates, terms or conditions for making or negotiating loans, or with regard to deposits, which is false, misleading or deceptive.

      2.  Except as otherwise provided in this subsection, a licensee shall not use any advertising or make any representations which indicate, imply or might lead a person to believe that it is a bank, a thrift company or a savings bank, unless it is insured by the Federal Deposit Insurance Corporation. The provisions of this subsection do not apply to a thrift company that does not accept money for deposit.

      3.  A licensee whose deposits are insured by the Federal Deposit Insurance Corporation shall include that information in its advertising relating to deposits.

      (Added to NRS by 1975, 1844; A 1985, 348, 2207; 1989, 1099; 1993, 2817; 1997, 1022)

      NRS 677.665  Formation of bank.  A corporation authorized to engage in business pursuant to this chapter may form a bank pursuant to the provisions of subsection 2 of NRS 659.015.

      (Added to NRS by 1997, 1014)