Nevada Revised Statutes 677.247 – Applicant required to obtain insurance of deposits; regulations
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1. An applicant for an authorization to engage in the business regulated pursuant to this chapter must obtain:
Terms Used In Nevada Revised Statutes 677.247
- Contract: A legal written agreement that becomes binding when signed.
(a) The insurance of deposits provided pursuant to the provisions of the Federal Deposit Insurance Act, 12 U.S.C. § 1811 et seq.;
(b) The insurance of deposits provided pursuant to the provisions of the National Housing Act, 12 U.S.C. § 1701 to 1743, inclusive; or
(c) A contract for the insurance of deposits that is issued by a private insurer and approved by the Commissioner and the Commissioner of Insurance.
2. The Commissioner shall adopt regulations prescribing the requirements that must be complied with before a contract issued pursuant to paragraph (c) of subsection 1 will be approved by the Commissioner.