Nevada Revised Statutes 673.276 – Permissible investments
A savings bank may invest in:
Terms Used In Nevada Revised Statutes 673.276
- 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.
- county: includes Carson City. See Nevada Revised Statutes 0.033
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage: includes a deed of trust. See Nevada Revised Statutes 0.037
1. Without limit, obligations of, or obligations guaranteed as to principal and interest by, the United States or any state.
2. Obligations of the United States Postal Service, whether or not guaranteed as to principal and interest by the United States.
3. Stock of a Federal Home Loan Bank or Federal Reserve Bank of which the savings bank is eligible to be a member.
4. Any obligations or consolidated obligations of any Federal Home Loan Bank or Banks or any Federal Reserve Bank or Banks.
5. Stock or obligations of the Federal Deposit Insurance Corporation.
6. Stock or obligations of a national mortgage association or any successor or successors thereto, including the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation.
7. Demand, time or savings deposits with any bank, credit union or trust company whose deposits are insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or a private insurer approved pursuant to NRS 672.755.
8. Stock or obligations of any corporation or agency of the United States or any state, or in deposits therewith to the extent that such a corporation or agency assists in furthering or facilitating the purposes or powers of the savings bank.
9. Deposit accounts of any insured depository institution licensed by the State and of any federally chartered depository institution, if the accounts of such institution are insured by the Federal Deposit Insurance Corporation.
10. Bonds, notes or other evidences of indebtedness which are general obligations of any city, town, county, school district or other municipal corporation or political subdivision of any state.
11. Any other investment at the discretion of the directors of the savings bank if, after the investment is made, the accounts of the savings bank remain insurable by the Federal Deposit Insurance Corporation.