Nevada Revised Statutes
Chapter 356 - Depositories of Public Money and Securities
NRS 356.050 - Liability of State Treasurer if depository fails or becomes insolvent; deposit of collateral or security for safekeeping.


1. Where the State Treasurer, in accordance with the terms and provisions of NRS 356.010 to 356.110, inclusive, has deposited and kept on deposit any public money in depositories so designated, the State Treasurer is not liable personally or upon his or her official bond for any public money that may be lost by reason of the failure or insolvency of any such depository; but the State Treasurer is chargeable with the safekeeping, management and disbursement of the bonds deposited with the State Treasurer as security for deposits of state money and with interest thereon, and with the proceeds of any sale under the provisions of NRS 356.010 to 356.110, inclusive.
2. The State Treasurer may deposit for safekeeping with any insured bank, credit union, savings and loan association or savings bank or a trust company within or without this state any securities or bonds pledged with him or her, as State Treasurer, as collateral or as security for any purpose, but the securities or bonds may only be so deposited by the State Treasurer with the joint consent and approval, in writing, of the pledgor thereof and the State Board of Finance. Any bonds or securities so deposited by the State Treasurer must be deposited under a written deposit agreement between the pledgor and the State Treasurer, to be held and released only upon a written order of the State Treasurer or his or her deputy, and signed by the Governor or acting governor and by one additional member of the State Board of Finance.
[5:161:1935; A 1937, 365; 1931 NCL § 7029.05]—(NRS A 1959, 570; 1975, 1804; 1979, 1890; 1999, 1486)

Structure Nevada Revised Statutes

Nevada Revised Statutes

Chapter 356 - Depositories of Public Money and Securities

NRS 356.005 - Deposit of public money in bank, credit union, savings and loan association or savings bank.

NRS 356.007 - Preference for bank, credit union, savings and loan association or savings bank within specially benefited zone.

NRS 356.010 - Conditions; redeposit of amounts in excess of insurance limits; compensation.

NRS 356.011 - Requirements for account of state agency in bank, credit union, savings and loan association or savings bank.

NRS 356.015 - Time certificates of deposit: Establishment of rate of interest; warrants; inactive deposits.

NRS 356.020 - Collateral for uninsured deposits: Types; pledge; fair market value; review; reports by depository; deposit of additional securities.

NRS 356.025 - Requirements for use of first mortgage or first deed of trust as collateral.

NRS 356.030 - Procedure for sale of securities if depository fails to pay deposit on demand.

NRS 356.040 - Depository to furnish statements of account and evidence of checks.

NRS 356.050 - Liability of State Treasurer if depository fails or becomes insolvent; deposit of collateral or security for safekeeping.

NRS 356.070 - Withdrawal of deposits; contents of register of checks and orders required to be kept by State Treasurer.

NRS 356.080 - State Controller’s warrant.

NRS 356.083 - Calls from inactive deposits; waiver of interest.

NRS 356.085 - Interest on deposits: Contract; amount.

NRS 356.087 - Interest to be deposited in State General Fund; exceptions.

NRS 356.090 - Depository at state capital may be relieved of payment of interest on deposits.

NRS 356.105 - Depository not required to accept state deposits.

NRS 356.110 - Penalties.

NRS 356.120 - Conditions for deposit in demand accounts.

NRS 356.125 - Written consent of board of county commissioners required for deposits in time accounts; contracts for time accounts; depository not required to accept county deposits.

NRS 356.127 - Conditions for deposit in insured deposit accounts; redeposit of uninsured amounts.

NRS 356.130 - Release of county treasurer’s bondsmen.

NRS 356.133 - Collateral required for uninsured deposits: Types; pledge; fair market value; review; reports by depository; deposit of additional securities.

NRS 356.135 - Procedure for sale of securities if depository fails to pay deposit on demand.

NRS 356.140 - Demand, time and insured deposit accounts to be kept in name of county; balances accounted for as cash.

NRS 356.150 - Withdrawal of deposits.

NRS 356.160 - Requirements for payment of warrant of county auditor.

NRS 356.170 - Contents of register of checks and orders required to be kept by county treasurer.

NRS 356.180 - Endorsement of county auditor’s warrant by county treasurer.

NRS 356.190 - Liability of county treasurer if depository fails or becomes insolvent; deposit of collateral or security for safekeeping.

NRS 356.200 - Deposit of county money in bank, credit union, savings and loan association or savings bank by other county officers.

NRS 356.210 - Stockholder, member or director of bank, credit union, savings and loan association or savings bank may not be stockholder or director of surety company.

NRS 356.220 - Certificate to be attached to depository bond.

NRS 356.230 - Penalty.

NRS 356.300 - Definitions.

NRS 356.305 - "Acceptable securities" defined.

NRS 356.310 - "Depository" defined.

NRS 356.330 - "Public money" defined.

NRS 356.340 - "Third-party depository" defined.

NRS 356.350 - Establishment.

NRS 356.360 - Amount of required collateral; limitation on amount of public money held; reports; administrative fine.

NRS 356.370 - Levy of assessment; notice regarding assessment.

NRS 356.380 - Payment of assessment; administrative fine for failure to pay.

NRS 356.390 - Regulations.