2013 Nevada Revised Statutes
Chapter 678 - Credit Unions
NRS 678.850 - Organization and operation; rights and powers.

1. A central credit union may be organized and operated under the provisions of this chapter by any three credit unions incorporated within this state. A central credit union is subject to all provisions not inconsistent with this section and shall use the term central in its official name.

2. A central credit union has all the rights and powers of any other credit union organized under this chapter and, in addition, a central credit union may:

(a) Make loans to other credit unions;

(b) Purchase shares and make deposits in other credit unions;

(c) Obtain the assets and liabilities of any credit union operating in this state which enters into liquidation;

(d) Invest in and grant loans to associations of credit unions or organizations chartered to provide exclusive service to credit unions; and

(e) Borrow money from any source and issue notes or debentures.

(Added to NRS by 1975, 393; A 1977, 891)