Nevada Revised Statutes
Chapter 661 - Organizational Requirements
NRS 661.185 - Bonds of officers, managers and employees.

1. The active officers, or the managers, and employees of any bank before entering upon their duties shall give bond to the bank in a surety company authorized to do business in Nevada, in the amount required by the directors or the operating agreement and upon such form as may be approved by the Commissioner, the premium for the bond to be paid by the bank.
2. The Commissioner or directors of the bank may require an increase of the amount of the bond whenever they deem it necessary. If injured by the breach of any bond given under this section, the bank so injured may commence an action and recover such damages as it may have sustained.
(Added to NRS by 1971, 978; A 1983, 1735; 1987, 1911; 1995, 482)

<< Previous

Next >>

Structure Nevada Revised Statutes

Nevada Revised Statutes

Chapter 661 - Organizational Requirements

NRS 661.015 - Organization: Minimum initial stockholders’ or members’ equity required; insurance of deposit accounts by Federal Deposit Insurance Corporation.

NRS 661.025 - Requirements for stockholders’ or members’ equity determined by Commissioner; deposit liability; acceptance of deposits.

NRS 661.035 - Amendment of articles of incorporation to increase or reduce authorized stock; approval by Commissioner.

NRS 661.065 - Liability of persons holding stock in or becoming substituted members of bank in fiduciary capacity.

NRS 661.075 - Failure to pay installment on stock or contribution: Sale of stock or member’s interest; forfeiture of amount previously paid.

NRS 661.085 - Impaired 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.

NRS 661.105 - Preferred stock: Conditions for issuance; inclusion in determination of compliance with requirements for stockholders’ equity.