Nevada Thrift Companies Act

Sections covered

• NRS 677.010Short title
• NRS 677.020Definitions
• NRS 677.030“Amount of cash advance” defined
• NRS 677.040“Amount of loan obligation” defined
• NRS 677.050“Borrowings” defined
• NRS 677.060“Charges” defined
• NRS 677.065“Commissioner” defined
• NRS 677.070“Community” defined
• NRS 677.075“Deposit” defined
• NRS 677.090“Gross amount” defined
• NRS 677.100“License” defined
• NRS 677.110“Licensee” defined
• NRS 677.115“Loan” defined
• NRS 677.125“Stockholders’ equity” defined
• NRS 677.130“Thrift certificate” defined
• NRS 677.140“Unpaid principal balance” defined
• NRS 677.145Certain relationships between employee of Division of Financial Institutions and licensee prohibited; termination of prohibited relationship
• NRS 677.147Applicability of chapters 78
• NRS 677.148Applicability of provisions concerning Regulatory Experimentation Program for Product Innovation
• NRS 677.150Authorization by Commissioner
• NRS 677.160Application for authority to engage in business: Form; contents; filing fee; regulations; withdrawal of application
• NRS 677.170Fidelity bond
• NRS 677.175Additional bond
• NRS 677.180Investigation and examination of applicant
• NRS 677.190Requisites for approval of application
• NRS 677.200Qualifications of president and certain managers of corporation
• NRS 677.210Minimum stockholders’ equity required
• NRS 677.220Certificate of authorization to transact business
• NRS 677.230Reserves
• NRS 677.240Authorization for change of place of business
• NRS 677.241Power of licensee to obtain benefits of federal programs or enter into contract with private insurer; regulations
• NRS 677.243Records of employees; confidentiality
• NRS 677.245Limitation on investment in real property; recording deed or other document; subsidiary ledger or other appropriate record
• NRS 677.247Applicant required to obtain insurance of deposits; regulations
• NRS 677.250Establishment and maintenance
• NRS 677.270Requisites for approval of application; notice of approval or denial
• NRS 677.290Right to open branch office expires if office not open within 6 months after approval of application
• NRS 677.300Authorization for change of location; posting of certificate
• NRS 677.310Specified designation of branch offices by name or number required
• NRS 677.320Closing or discontinuance of branch office
• NRS 677.330Mobile offices
• NRS 677.340Persons ineligible for licensing
• NRS 677.350Applicability of chapter to persons who seek to evade
• NRS 677.355Licensee may own interest in bank or savings bank
• NRS 677.360Expiration, renewal and reinstatement of license; fees; regulations
• NRS 677.370Posting of license; transferability and assignability of license
• NRS 677.373Application for license: Additional requirements; fingerprints; grounds for refusal to issue license
• NRS 677.375Suspension or revocation of license: Additional grounds
• NRS 677.380Regulations and orders of Commissioner
• NRS 677.390Disposition of money collected pursuant to chapter
• NRS 677.400Annual report by licensee; composite reports
• NRS 677.410Preparation of annual reports and financial statements; special reports; extensions; removal of qualification
• NRS 677.420Notification of change in ownership of stock; application for approval after certain acquisitions; investigation; costs; waiver
• NRS 677.430Commissioner to examine licensee’s business at least annually; fee
• NRS 677.435Independent audit and examination: Payment of assessment; cooperation
• NRS 677.440Authority of Commissioner to investigate business; free access required; compelling attendance of witnesses
• NRS 677.450Authority of Commissioner to require attendance of witnesses and production of documents
• NRS 677.460Charging off assets; regulations and orders
• NRS 677.470Licensee to pay costs of audit of books and records
• NRS 677.480Order of Commissioner directing discontinuance of unsafe or injurious practice
• NRS 677.490Surrender of license by licensee; surrender as affecting licensee’s liability
• NRS 677.500Temporary suspension of license: Conditions; notice; hearing; term of suspension
• NRS 677.510Revocation or suspension of license: Grounds; notice; hearing; order
• NRS 677.520Preexisting contracts unaffected by revocation, suspension, expiration or surrender of license
• NRS 677.530Order to desist or refrain; action to enjoin violations; appointment and powers of receiver
• NRS 677.540Taking possession of business by Commissioner: Conditions; resumption of business
• NRS 677.545Taking possession of business by Commissioner: Acquisition by or merger with another institution
• NRS 677.550Order suspending or limiting payment of liabilities; effect of order; assignment or hypothecation of indebtedness
• NRS 677.560Application by licensee to enjoin further proceedings
• NRS 677.570Authority of Commissioner to liquidate or conserve company
• NRS 677.580Use of holding company or other device for evading or avoiding chapter prohibited; right to issue preferred stock or debentures not affected
• NRS 677.590Issuance of thrift certificates prohibited; exception
• NRS 677.600Permissible depositories
• NRS 677.610Authorized investments
• NRS 677.612Authority to accept deposit by fiduciary in trust; payment to fiduciary of withdrawal value and interest
• NRS 677.616Deposit by and payment to minor
• NRS 677.620Limit on deposits; limit on total borrowings; borrowing money from Federal Home Loan Bank
• NRS 677.630Permissible transactions in real property
• NRS 677.640Conduct of business in place where other business being conducted; name under which business may be transacted; loans by mail
• NRS 677.645Use or change of business name; prohibitions
• NRS 677.650Making loan to or purchasing contract or chose in action from officer, director or other specified person prohibited; exception; personal liability
• NRS 677.660Advertising: Prohibitions; insurance of deposits
• NRS 677.665Formation of bank
• NRS 677.673Definitions
• NRS 677.677“Designated reporter” defined
• NRS 677.683“Exploitation” defined
• NRS 677.687“Older person” defined
• NRS 677.693“Reasonable cause to believe” defined
• NRS 677.697“Vulnerable person” defined
• NRS 677.703Training; reporting to designated reporter
• NRS 677.707Designated reporter: Designation; duty to report; immunity
• NRS 677.720Requirements for making and paying of loans: Duties of licensee
• NRS 677.730Interest, charges and repayment1 cite
• NRS 677.750Prohibited practices by licensee
• NRS 677.760Restriction on percentage of loans secured by stocks or bonds of any one obligor; exception
• NRS 677.770Limitations on amount of secured loans or obligations of any one obligor
• NRS 677.780Loans may be made to any person; exceptions; property situated outside of State
• NRS 677.790Powers of licensee
• NRS 677.795Authority to exercise powers of banks
• NRS 677.800Violation of provisions of chapter
• NRS 677.805Administrative fines
• NRS 677.810Receiving certain compensation or property; making false entry in books or records; embezzlement
• NRS 677.820Fraudulent insolvency; malfeasance of directors
• NRS 677.830Making loan or purchasing contract in violation of chapter
• NRS 677.840Deposit of company’s money on condition of loan or advance
• NRS 677.850Accepting deposits with knowledge of insolvency of company or violation of chapter