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2017 Nevada Revised Statutes
Chapter 673 - Savings and Loan Associations
NRS 673.227 - Land and office buildings of association; limitation on costs.
Universal Citation: NV Rev Stat § 673.227 (2017)
1. An association may purchase or lease property for its office buildings or construct its office buildings on property purchased or leased by it, if the total cost of land and improvements does not exceed 70 percent of the sum of the association’s capital, surplus and reserves.
2. With the approval of the Commissioner, senior capital notes of the Federal Deposit Insurance Corporation may be included in capital for the purposes of this section.
(Added to NRS by 1963, 465; A 1967, 1015; 1971, 628; 1983, 1781; 1987, 1965; 1993, 2809)
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