2005 Nevada Revised Statutes - Chapter 663 — Deposits

CHAPTER 663 - DEPOSITS

NRS 663.025 Depositsin trust.

NRS 663.045 Depositorycollateral not required for insured deposits.

NRS 663.055 Unlawfulto receive deposit after revocation of authority to transact banking business.

NRS 663.065 Depositsand safe-deposit boxes of minors.

NRS 663.075 Schoolthrift or savings plans.

NRS 663.085 Safe-depositboxes: Notice of overdue rental; opening of box; retention of contents ingeneral vaults; delivery of contents to State Treasurer.

_________

NRS 663.025 Depositsin trust. Whenever any deposit is made in anybank or credit union doing business within this state by any person in trustfor another, and no other or further notice of the existence and terms of alegal and valid trust has been given in writing to the bank or credit union,upon the death of the trustee, the deposit or any part thereof, together withthe dividends or interest thereon, may be paid to the person for whom thedeposit was made.

(Added to NRS by 1971, 991; A 1999, 1542)

NRS 663.045 Depositorycollateral not required for insured deposits. Notwithstandingany provision of law of this state or of any political subdivision thereofrequiring security for deposits in the form of collateral or surety bond or inany other form, security for such deposits shall not be required to the extentsuch deposits are insured under the provisions of the Federal Deposit InsuranceAct, as now or hereafter amended, or insured by the National Credit UnionInsurance Fund or by a private insurer approved pursuant to NRS 678.755.

(Added to NRS by 1971, 991; A 1999, 1542)

NRS 663.055 Unlawfulto receive deposit after revocation of authority to transact banking business. Any bank or credit union or officer of any bank or creditunion whose authority to transact a banking business has been revoked as providedin this title or title 56 of NRS, receiving any deposit of whatever natureafter such revocation, shall be subject to the same penalty as provided in thistitle or title 56 of NRS for those who transact a banking business withoutauthority.

(Added to NRS by 1971, 991; A 1999, 1542)

NRS 663.065 Depositsand safe-deposit boxes of minors.

1. When any deposit is made in a bank or credit unionby a minor, the bank or credit union may pay to such depositor such sums as maybe due him, and the receipt of such minor to such bank or credit union isvalid.

2. A bank or credit union may operate a depositaccount in the name of a minor or in the name of two or more persons one ormore of whom are minors with the same effect upon its liability as if suchminors were of full age.

3. A bank or credit union may lease a safe-deposit boxto, and in connection therewith deal with, a minor with the same effect as ifleasing to and dealing with a person of full legal capacity.

4. An institution may rent a safe-deposit box or otherreceptacle for safe deposit of property to, and receive property for safedeposit from, a married minor and spouse, whether adult or minor, jointly.

5. This section does not affect the law governingtransactions with minors in cases outside the scope of this section.

(Added to NRS by 1971, 991; A 1999, 1543)

NRS 663.075 Schoolthrift or savings plans.

1. A bank or credit union may arrange for thecollection of savings from school children by the principal of the school, bythe teachers, or by collectors pursuant to regulations issued by theCommissioner and approved, in the case of public schools, by the board oftrustees of the school district in which the school is situated. The principal,teacher or person authorized by the bank or credit union to make collectionsfrom the school children must be the agent of the bank or credit union to makecollections from the school children, and the bank or credit union is liable tothe pupil for all deposits made with such principal, teacher or otherauthorized person to the same extent as if the deposits were made directly withthe bank or credit union.

2. The acceptance of deposits in furtherance of aschool thrift or savings plan by an officer, employee or agent of a bank orcredit union at any school is not the establishment or operation of a branchfacility.

(Added to NRS by 1971, 992; A 1983, 1742; 1987, 1920;1999, 1543)

NRS 663.085 Safe-depositboxes: Notice of overdue rental; opening of box; retention of contents ingeneral vaults; delivery of contents to State Treasurer.

1. If the rental due on a safe-deposit box has notbeen paid for 90 days, the lessor may send a notice by registered or certifiedmail to the last known address of the lessee stating that the safe-deposit boxwill be opened and its contents stored at the expense of the lessee unlesspayment of the rental is made within 30 days. If the rental is not paid within30 days after the mailing of the notice, the box may be opened in the presenceof any officer of the lessor and a notary public. The contents must be sealedin a package by the notary public, who shall write on the outside the name ofthe lessee and the date of the opening of the box in the presence of the officer.The notary public and the officer shall execute a certificate reciting the nameof the lessee, the date of the opening of the box and a list of its contents.The certificate must be included in the package, and a copy of the certificatemust be sent by registered or certified mail to the last known address of thelessee. If the contents of the safe-deposit box have been unclaimed by theowner for 3 years or less, the package must then be placed in the generalvaults of the lessor at a rental not exceeding the rental previously chargedfor the box, until such time that the contents will have been unclaimed by theowner for more than 3 years, at which time the lessor shall deliver the packageto the state treasurer in his capacity as the administrator of unclaimedproperty pursuant to the provisions of chapter120A of NRS.

2. If the contents of a safe-deposit box that has beenopened pursuant to subsection 1 have been unclaimed by the owner for more than3 years, the lessor shall deliver the package to the State Treasurer in hiscapacity as the Administrator of Unclaimed Property pursuant to the provisionsof chapter 120A of NRS.

(Added to NRS by 1971, 992; A 1985, 739, 2252; 1995,282; 2001, 1651, 2929)

 

Disclaimer: These codes may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.