2017 Nevada Revised Statutes
Chapter 356 - Depositories of Public Money and Securities
NRS 356.127 - Conditions for deposit in insured deposit accounts; redeposit of uninsured amounts.

1. In addition to deposits authorized by NRS 356.120 and 356.125, a county treasurer may enter into an agreement to:

(a) If one or more insured banks, insured credit unions or insured savings and loan associations are located in the county, deposit county money in such insured banks, credit unions or savings and loan associations in insured deposit accounts.

(b) If no such bank, credit union or savings and loan associations exists in the county, deposit county money in any insured bank, insured credit union or insured savings and loan association in this State in insured deposit accounts.

2. If at any time the amount of county money deposited in an account pursuant to subsection 1 and any interest accrued on the money exceeds the limits of insurance provided by an instrumentality of the United States or pursuant to NRS 678.750, the bank, credit union or savings and loan association shall:

(a) Arrange for the redeposit of the amount of the county money that exceeds the limits of insurance provided by an instrumentality of the United States or pursuant to NRS 678.750 into one or more insured deposit accounts in one or more insured state or national banks, insured credit unions or insured savings and loan associations; and

(b) Ensure that the total amount of money redeposited in an account and any interest accrued on the money is within the limits of insurance provided by an instrumentality of the United States or pursuant to NRS 678.750.

3. The provisions of this section apply only to an account authorized pursuant to subsection 3 of NRS 356.005.

(Added to NRS by 2015, 343)