NAC662.006. Limits on amount of loans: “Surplus” interpreted.

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The Commissioner will interpret “surplus,” as used in NRS 662.145 and 662.155, to include:

     1. Surplus, as that word is defined in NRS 657.075.

     2. Undivided profits.

     3. Reserves for contingencies and other capital reserves, excluding accrued dividends on perpetual and limited life preferred stock.

     4. Allowances for the net losses of loans and leases.

     5. Long-term capital notes or debentures, which are subject to the limitations of NAC 662.080.

(Added to NAC by Comm’r of Financial Institutions, eff. 5-15-92)

                    
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