NRS: CHAPTER 678 - CREDIT UNIONS (Replaced in Revision by Chapter 672 of NRS)

[Rev. 12/21/2019 3:12:35 PM--2019]

CHAPTER 678 - CREDIT UNIONS (Replaced in Revision by Chapter 672 of NRS)

GENERAL PROVISIONS

NRS 678.010 Definitions. [Replaced in revision by NRS 672.010.]

NRS 678.020 “Account” defined. [Replaced in revision by NRS 672.020.]

NRS 678.030 “Beneficiary” defined. [Replaced in revision by NRS 672.030.]

NRS 678.040 “Board” defined. [Replaced in revision by NRS 672.040.]

NRS 678.050 “Chair” defined. [Replaced in revision by NRS 672.050.]

NRS 678.061 “Commissioner” defined. [Replaced in revision by NRS 672.061.]

NRS 678.070 “Credit union” defined. [Replaced in revision by NRS 672.070.]

NRS 678.080 “Demand” defined. [Replaced in revision by NRS 672.080.]

NRS 678.090 “Department” defined. [Replaced in revision by NRS 672.090.]

NRS 678.100 “Deposits” defined. [Replaced in revision by NRS 672.100.]

NRS 678.110 “Director” defined. [Replaced in revision by NRS 672.110.]

NRS 678.120 “Dividend” defined. [Replaced in revision by NRS 672.120.]

NRS 678.125 “Fixed assets” defined. [Replaced in revision by NRS 672.125.]

NRS 678.130 “Immediate family” defined. [Replaced in revision by NRS 672.130.]

NRS 678.140 “Loan officer” defined. [Replaced in revision by NRS 672.140.]

NRS 678.145 “Member” defined. [Replaced in revision by NRS 672.145.]

NRS 678.150 “Merger” defined. [Replaced in revision by NRS 672.150.]

NRS 678.160 “Multiple-party account” defined. [Replaced in revision by NRS 672.160.]

NRS 678.170 “Net contribution” defined. [Replaced in revision by NRS 672.170.]

NRS 678.180 “Party” defined. [Replaced in revision by NRS 672.180.]

NRS 678.190 “Payment” defined. [Replaced in revision by NRS 672.190.]

NRS 678.210 “Proof of death” defined. [Replaced in revision by NRS 672.210.]

NRS 678.220 “Sums on deposit” defined. [Replaced in revision by NRS 672.220.]

NRS 678.230 “Trust account” defined. [Replaced in revision by NRS 672.230.]

NRS 678.240 “Withdrawal” defined. [Replaced in revision by NRS 672.240.]

ADMINISTRATION

NRS 678.250 Administration of chapter; regulations of Commissioner. [Replaced in revision by NRS 672.250.]

NRS 678.260 Duties of Commissioner; regulations. [Replaced in revision by NRS 672.260.]

NRS 678.270 Powers of Commissioner concerning regulations and legal actions. [Replaced in revision by NRS 672.270.]

NRS 678.275 Certain relationships between employee of Division of Financial Institutions and licensee prohibited; termination of prohibited relationship. [Replaced in revision by NRS 672.275.]

NRS 678.282 Application for license: Additional requirements; fingerprints; grounds for refusal to issue license. [Replaced in revision by NRS 672.282.]

NRS 678.284 Suspension or revocation of license: Additional grounds. [Replaced in revision by NRS 672.284.]

NRS 678.286 Use or change of business name; prohibitions. [Replaced in revision by NRS 672.286.]

NRS 678.288 Authorization of Commissioner to investigate business; free access required; compelling attendance of witnesses. [Replaced in revision by NRS 672.288.]

NRS 678.290 Credit Union Advisory Council. [Replaced in revision by NRS 672.290.]

FORMATION

NRS 678.300 Requirement of incorporation; exceptions; applicability of NRS 81.410 to 81.540, inclusive; perpetual existence. [Replaced in revision by NRS 672.300.]

NRS 678.310 Procedure for incorporation; fees set by regulation. [Replaced in revision by NRS 672.310.]

NRS 678.320 Amendment of articles of incorporation; bylaws. [Replaced in revision by NRS 672.320.]

NRS 678.330 Offices; principal place of business. [Replaced in revision by NRS 672.330.]

NRS 678.340 Fiscal year. [Replaced in revision by NRS 672.340.]

FOREIGN CREDIT UNIONS

NRS 678.342 Certificate of authority required. [Replaced in revision by NRS 672.342.]

NRS 678.343 Application for certificate of authority: Filing; form; contents; withdrawal of application. [Replaced in revision by NRS 672.343.]

NRS 678.3435 Fee for initial investigation; annual fees; costs for additional investigations; regulations. [Replaced in revision by NRS 672.3435.]

NRS 678.344 Requirements for issuance of certificate. [Replaced in revision by NRS 672.344.]

NRS 678.345 Applicable law; filing of annual report. [Replaced in revision by NRS 672.345.]

NRS 678.3455 Application for certificate of authority to open branch offices. [Replaced in revision by NRS 672.3455.]

NRS 678.346 Examination of records; revocation of certificate. [Replaced in revision by NRS 672.346.]

NRS 678.347 Applicability of provisions of chapter 80 of NRS. [Replaced in revision by NRS 672.347.]

DIRECTORS, OFFICERS AND COMMITTEES

NRS 678.350 Board of directors: Number, election and terms of members; procedure for filling vacancy. [Replaced in revision by NRS 672.350.]

NRS 678.360 Board of directors: Responsibilities; meetings; executive committee. [Replaced in revision by NRS 672.360.]

NRS 678.370 Board of directors: Duties. [Replaced in revision by NRS 672.370.]

NRS 678.380 Board of directors: Powers. [Replaced in revision by NRS 672.380.]

NRS 678.390 Appointment of audit committee: Duties; powers; suspension of member; employment of certified public accountant. [Replaced in revision by NRS 672.390.]

NRS 678.400 Credit committee; loan officer. [Replaced in revision by NRS 672.400.]

NRS 678.410 Removal of director, officer or employee on objection of Commissioner. [Replaced in revision by NRS 672.410.]

NRS 678.420 Officers: Election; designation; bonds; terms; duties. [Replaced in revision by NRS 672.420.]

NRS 678.430 List of directors, officers and committee members. [Replaced in revision by NRS 672.430.]

NRS 678.440 Fiduciary relationship of directors and officers. [Replaced in revision by NRS 672.440.]

NRS 678.450 Compensation and expenses of directors, officers and members. [Replaced in revision by NRS 672.450.]

POWERS AND PRIVILEGES

NRS 678.460 General powers; waiver or modification of law by Commissioner. [Replaced in revision by NRS 672.460.]

NRS 678.470 Receiving and paying out deposits; borrowing, selling and purchasing assets. [Replaced in revision by NRS 672.470.]

NRS 678.480 Fees and assessments. [Replaced in revision by NRS 672.480.]

NRS 678.490 Membership in other credit union or organization; performance of certain services. [Replaced in revision by NRS 672.490.]

NRS 678.500 Donations and contributions. [Replaced in revision by NRS 672.500.]

MEMBERSHIP; ACCOUNTS

NRS 678.510 Eligibility for membership. [Replaced in revision by NRS 672.510.]

NRS 678.520 Eligibility of minor; limitations. [Replaced in revision by NRS 672.520.]

NRS 678.530 Subscription to and transfer of shares; lien for sums due; reduction in shares. [Replaced in revision by NRS 672.530.]

NRS 678.540 Real and personal property subject to taxation. [Replaced in revision by NRS 672.540.]

NRS 678.550 Meetings of members. [Replaced in revision by NRS 672.550.]

NRS 678.560 Savings deposits; special clubs and accounts. [Replaced in revision by NRS 672.560.]

NRS 678.570 Multiple-party accounts: Authorization; disbursement of money; limitations. [Replaced in revision by NRS 672.570.]

NRS 678.630 Payment of trust accounts. [Replaced in revision by NRS 672.630.]

NRS 678.650 Right to setoff against multiple-party accounts. [Replaced in revision by NRS 672.650.]

RESERVES; DIVIDENDS

NRS 678.670 Regular reserves. [Replaced in revision by NRS 672.670.]

NRS 678.680 Special reserves. [Replaced in revision by NRS 672.680.]

NRS 678.690 Assets qualified for reserves. [Replaced in revision by NRS 672.690.]

NRS 678.700 Dividends. [Replaced in revision by NRS 672.700.]

LOANS; INVESTMENTS

NRS 678.710 Loans to members: Application; approval; limitations; participation loans; payment. [Replaced in revision by NRS 672.710.]

NRS 678.720 Loans to members: Extension of previous maximum credit; review. [Replaced in revision by NRS 672.720.]

NRS 678.730 Loans to and guaranties by directors and members of committees. [Replaced in revision by NRS 672.730.]

NRS 678.740 Security for loans. [Replaced in revision by NRS 672.740.]

NRS 678.750 Insurance of members and accounts. [Replaced in revision by NRS 672.750.]

NRS 678.755 Approval of private insurer and contract of insurance; regulations; reserve. [Replaced in revision by NRS 672.755.]

NRS 678.760 Authorized investments. [Replaced in revision by NRS 672.760.]

NRS 678.765 Limitation on investment in fixed assets. [Replaced in revision by NRS 672.765.]

EXPLOITATION OF OLDER PERSONS OR VULNERABLE PERSONS

NRS 678.767 Definitions. [Replaced in revision by NRS 672.767.]

NRS 678.769 “Designated reporter” defined. [Replaced in revision by NRS 672.769.]

NRS 678.771 “Exploitation” defined. [Replaced in revision by NRS 672.771.]

NRS 678.773 “Older person” defined. [Replaced in revision by NRS 672.773.]

NRS 678.775 “Reasonable cause to believe” defined. [Replaced in revision by NRS 672.775.]

NRS 678.777 “Vulnerable person” defined. [Replaced in revision by NRS 672.777.]

NRS 678.778 Training; reporting to designated reporter. [Replaced in revision by NRS 672.778.]

NRS 678.779 Designated reporter: Designation; duty to report; immunity. [Replaced in revision by NRS 672.779.]

RECORDS AND REPORTS; EXAMINATIONS

NRS 678.780 Annual financial report. [Replaced in revision by NRS 672.780.]

NRS 678.790 Examinations and audits; exceptions; fees. [Replaced in revision by NRS 672.790.]

NRS 678.795 Independent audit and examination: Payment of assessment; cooperation. [Replaced in revision by NRS 672.795.]

MERGER; CONVERSIONS

NRS 678.800 Merger; fees set by regulation; regulations. [Replaced in revision by NRS 672.800.]

NRS 678.810 Conversions; fee set by regulation. [Replaced in revision by NRS 672.810.]

DISSOLUTION AND LIQUIDATION

NRS 678.820 Voluntary dissolution. [Replaced in revision by NRS 672.820.]

NRS 678.830 Involuntary dissolution: Suspension of operations; corrective actions; declaration of insolvency; liquidation. [Replaced in revision by NRS 672.830.]

NRS 678.835 Involuntary dissolution: Appointment of liquidating agent for credit union closed by bankruptcy or insolvency. [Replaced in revision by NRS 672.835.]

NRS 678.840 Procedure for liquidation. [Replaced in revision by NRS 672.840.]

CENTRAL CREDIT UNIONS

NRS 678.850 Organization and operation; rights and powers. [Replaced in revision by NRS 672.850.]

NRS 678.860 Membership. [Replaced in revision by NRS 672.860.]

NRS 678.870 Voting representatives. [Replaced in revision by NRS 672.870.]

NRS 678.875 Regular reserves. [Replaced in revision by NRS 672.875.]

PENALTIES

NRS 678.880 Use of words “credit union” or conducting business as credit union by person not organized as credit union; spreading false report concerning management or finances of credit union. [Replaced in revision by NRS 672.880.]

NRS 678.890 Administrative fines. [Replaced in revision by NRS 672.890.]

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NOTE: Section 46 of chapter 611, Statutes of Nevada 2019, at p. 4000, has been codified as NRS 672.295.