Nrs: Chapter 663 - Deposits

Link to law: https://www.leg.state.nv.us/NRS/NRS-663.html
Published: 2015

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[Rev. 2/11/2015 11:48:45

AM--2014R2]

CHAPTER 663 - DEPOSITS

NRS 663.045           Depository

collateral not required for insured deposits.

NRS 663.055           Unlawful

to receive deposit after revocation of authority to transact banking business.

NRS 663.065           Deposits

and safe-deposit boxes of minors.

NRS 663.075           School

thrift or savings plans.

NRS 663.085           Safe-deposit

boxes: Notice of overdue rental; opening of box; retention of contents in

general vaults; delivery of contents to State Treasurer.

_________

 

      NRS 663.045  Depository collateral not required for insured deposits.  Notwithstanding any provision of law of this

state or of any political subdivision thereof requiring security for deposits

in the form of collateral or surety bond or in any other form, security for

such deposits shall not be required to the extent such deposits are insured

under the provisions of the Federal Deposit Insurance Act, as now or hereafter

amended, or insured by the National Credit Union Share Insurance Fund or by a

private insurer approved pursuant to NRS

678.755.

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

      NRS 663.055  Unlawful to receive deposit after revocation of authority to

transact banking business.  Any

bank or credit union or officer of any bank or credit union whose authority to

transact a banking business has been revoked as provided in this title or title

56 of NRS, receiving any deposit of whatever nature after such revocation,

shall be subject to the same penalty as provided in this title or title 56 of

NRS for those who transact a banking business without authority.

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

      NRS 663.065  Deposits and safe-deposit boxes of minors.

      1.  When any deposit is made in a bank or

credit union by a minor, the bank or credit union may pay to such depositor

such sums as may be due him or her, and the receipt of such minor to such bank

or credit union is valid.

      2.  A bank or credit union may operate a

deposit account in the name of a minor or in the name of two or more persons

one or more of whom are minors with the same effect upon its liability as if

such minors were of full age.

      3.  A bank or credit union may lease a

safe-deposit box to, and in connection therewith deal with, a minor with the

same effect as if leasing to and dealing with a person of full legal capacity.

      4.  An institution may rent a safe-deposit

box or other receptacle for safe deposit of property to, and receive property

for safe deposit from, a married minor and spouse, whether adult or minor,

jointly.

      5.  This section does not affect the law

governing transactions with minors in cases outside the scope of this section.

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

      NRS 663.075  School thrift or savings plans.

      1.  A bank or credit union may arrange for

the collection of savings from school children by the principal of the school,

by the teachers, or by collectors pursuant to regulations issued by the

Commissioner and approved, in the case of public schools, by the board of

trustees of the school district in which the school is situated. The principal,

teacher or person authorized by the bank or credit union to make collections

from the school children must be the agent of the bank or credit union to make

collections from the school children, and the bank or credit union is liable to

the pupil for all deposits made with such principal, teacher or other

authorized person to the same extent as if the deposits were made directly with

the bank or credit union.

      2.  The acceptance of deposits in furtherance

of a school thrift or savings plan by an officer, employee or agent of a bank

or credit union at any school is not the establishment or operation of a branch

facility.

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

      NRS 663.085  Safe-deposit boxes: Notice of overdue rental; opening of box;

retention of contents in general vaults; delivery of contents to State

Treasurer.

      1.  If the rental due on a safe-deposit box

has not been paid for 90 days, the lessor may send a notice by registered or

certified mail to the last known address of the lessee stating that the

safe-deposit box will be opened and its contents stored at the expense of the

lessee unless payment of the rental is made within 30 days. If the rental is

not paid within 30 days after the mailing of the notice, the box may be opened

in the presence of any officer of the lessor and a notary public. The contents

must be sealed in a package by the notary public, who shall write on the

outside the name of the 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 name of 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 certificate must be sent by registered or certified mail to

the last known address of the lessee. If the contents of the safe-deposit box

have been unclaimed by the owner for 3 years or less, the package must then be

placed in the general vaults of the lessor at a rental not exceeding the rental

previously charged for the box, until such time that the contents will have

been unclaimed by the owner for more than 3 years, at which time the lessor

shall deliver the package to the State Treasurer in the State Treasurer’s

capacity as the Administrator of Unclaimed Property pursuant to the provisions

of chapter 120A of NRS.

      2.  If the contents of a safe-deposit box

that has been opened pursuant to subsection 1 have been unclaimed by the owner

for more than 3 years, the lessor shall deliver the package to the State

Treasurer in the State Treasurer’s capacity as the Administrator of Unclaimed

Property pursuant to the provisions of chapter

120A of NRS.

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