Nevada Revised Statutes 667.215 – Conditions under which banks may reopen
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When the Commissioner or the Federal Deposit Insurance Corporation has taken possession of any bank, the bank may, with the consent of the Commissioner, resume business upon such terms and conditions as may be approved by the Commissioner and the Federal Deposit Insurance Corporation.
Terms Used In Nevada Revised Statutes 667.215
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC