NRS 661.025 - Requirements for stockholders’ or members’ equity determined by Commissioner; deposit liability; acceptance of deposits.

NV Rev Stat § 661.025 (2019) (N/A)

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1. The stockholders’ or members’ equity of any state bank must, subject to the limitations set forth in NRS 661.015, be at least 6 percent of the total deposit liability of the bank as determined by the Commissioner. In determining the amount of stockholders’ or members’ equity that will be required, the Commissioner shall give due consideration to the character and liquidity of the assets of the bank and to the standards regarding equity requirements established by other state and federal banking supervising agencies.

2. The Commissioner shall, to determine the requirements for stockholders’ or members’ equity for any state bank, include undivided profits, capital notes, debentures and any reserve for losses.

3. The deposit liability for the purposes of this section must be the average of daily deposit liabilities for the preceding 60 calendar days.

4. This section does not prohibit the acceptance of deposits by any bank while it is proceeding expeditiously, as determined by the Commissioner, to comply with the provisions of this section.

(Added to NRS by 1971, 974; A 1983, 1731; 1987, 1907; 1997, 980)

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NRS 661.015 - Organization: Minimum initial stockholders’ or members’ equity required; insurance of deposit accounts by Federal Deposit Insurance Corporation.

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NRS 661.035 - Amendment of articles of incorporation to increase or reduce authorized stock; approval by Commissioner.