Nev. Rev. Stat. ch. 661 – Organizational Requirements | Midpage

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Nevada Revised Statutes

Chapter 661

Nev. Rev. Stat. ch. 661

Organizational Requirements

661.015Organization: Minimum initial stockholders’ or members’ equity required; insurance of deposit accounts by Federal Deposit Insurance Corporation 661.025Requirements for stockholders’ or members’ equity determined by Commissioner; deposit liability; acceptance of deposits 661.035Amendment of articles of incorporation to increase or reduce authorized stock; approval by Commissioner 661.065Liability of persons holding stock in or becoming substituted members of bank in fiduciary capacity 661.075Failure to pay installment on stock or contribution: Sale of stock or member’s interest; forfeiture of amount previously paid 661.085Impaired stockholders’ or members’ equity: Duty of Commissioner to give notice; duty of officers and directors to require bank to make impairment good; power of Commissioner to take possession of bank 661.105Preferred stock: Conditions for issuance; inclusion in determination of compliance with requirements for stockholders’ equity 661.115Maintenance and filing of list of stockholders or members; additional requirements for list of members 661.125Report of changes in ownership or management; report of certain loans made by bank; application required after certain acquisitions; investigation by Commissioner; payment of costs; waiver of investigation 661.135Directors or managers: Number; selection 661.145Directors or managers: Qualifications 661.165Directors: Quarterly meetings and examination of books required; exemption 661.185Bonds of officers, managers and employees 661.195Liability of directors, managers, officers and other persons 661.205Overdrafts 661.235Limitation on declaring dividend or making distribution; exception 661.240Additional limitation on making distribution; definition