1. When any state bank has been closed as provided in NRS 667.035, and the Federal Deposit Insurance Corporation pays, or makes available for payment, the insured deposit liabilities of such closed bank, the Federal Deposit Insurance Corporation, whether or not it has become receiver or liquidator of such closed bank, shall be subrogated to all rights against such closed bank of the owners of such deposits in the same manner and to the same extent as subrogation of the Federal Deposit Insurance Corporation is provided for in the Federal Deposit Insurance Act in the case of the closing of a national bank.
2. The rights of depositors and other creditors of such closed bank shall be determined in accordance with the applicable provisions of the laws of this state.
(Added to NRS by 1971, 1002)
Structure Nevada Revised Statutes
Chapter 667 - Liquidation and Reorganization
NRS 667.015 - Procedure; applicable law; power to sell and transfer assets.
NRS 667.065 - Payment of insured deposits; subrogation.
NRS 667.075 - Loans to closed banks by Federal Deposit Insurance Corporation; sale of assets to it.
NRS 667.095 - Deposit of books, papers and records with Commissioner upon final liquidation.
NRS 667.105 - Destruction of records of liquidated insolvent banks.
NRS 667.135 - Petition for appointment of successor trustee: Publication and contents of notice.
NRS 667.145 - Appointment of successor trustee when no objection made.
NRS 667.155 - Hearing on objections to appointment of successor trustee; appeal from order.
NRS 667.165 - Recordation of order appointing successor trustee.
NRS 667.175 - Petition and order may relate to all instruments in which former trustee was named.
NRS 667.185 - Provisions additional to other remedies.
NRS 667.195 - Validation of sales by liquidator under security instruments giving power of sale.
NRS 667.215 - Conditions under which banks may reopen.
NRS 667.225 - Conditions under which bank may reorganize before actual dissolution.