Secured loans or obligations of any one person as primary obligor made or held by a licensee may not, in any event, exceed in the aggregate 25 percent of the stockholders’ equity of the licensee. Loans secured by deposits with the licensee must not be included in applying this limitation.
NRS 677.770
Limitations on amount of secured loans or obligations of any one obligor
Known as the Nevada Thrift Companies Act
The act spans §§ 677–677 (106 sections).
(Added to NRS by 1975, 1843; A 1985, 2208; 1987, 1245; 1989, 1101; 1993, 2817; 1997, 1023)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.