1. Any savings bank may:
(a) Make additional advances or loans for the purpose of preserving the security of the loan or for the purpose of protecting the property securing the loan.
(b) Make any renewal, extension, advance or loan to the borrower or to any successor in interest in the property securing the loan.
(c) Make loans on property sold by a savings bank or extend credit thereon for the purpose of facilitating the sale of the property regardless of any other provision of this chapter.
2. No advance or loan may be made under the provisions of this section if the advance or loan would increase the total liability to the savings bank making the advance or loan to a level that would be prohibited pursuant to regulations applicable to federally chartered banks as set forth by the Office of the Comptroller of the Currency.
3. For the purpose of preserving the security of any loan or of protecting the property securing any loan made in compliance with this chapter, a savings bank may make additional advances or loans to the borrower or any successor in interest in the property securing the loan. Regardless of any other provision of this chapter, a savings bank may make loans or extend credit for the purpose of facilitating the sale of property acquired by repossession, foreclosure or conveyance in lieu of foreclosure if that activity conforms to generally accepted accounting practices.
(Added to NRS by 1959, 540; A 1963, 467; 1983, 656, 1785; 1987, 1969; 2017, 1939)
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