678.470 - Receiving and paying out deposits; borrowing, selling and purchasing assets. - Nevada Statutes

678.470  Receiving and paying out deposits; borrowing, selling and purchasing assets.  A credit union may, subject to the regulations or approval of the Commissioner:

      1.  Receive from its members or from the members of another credit union deposits which are payable on demand and honor requests for withdrawals in the form of checks or drafts.

      2.  Receive deposits from the State Treasurer which are payable on demand pursuant to the provisions of chapter 356 of NRS.

      3.  Borrow from any source in accordance with the policy established by the board of directors and discount and sell any eligible obligations.

      4.  Sell all or any part of its assets or purchase all or any part of the assets of another credit union.

      (Added to NRS by 1975, 386; A 1981, 1368; 1983, 1835; 1987, 2018)