Nevada Administrative Code (Last Updated: January 6, 2015)

NAC669.020. Deposit with affiliate of money held as fiduciary or agent: Collateral security.

Latest version.

If a trust company deposits money held by the trust company as a fiduciary or agent with an affiliate depository institution pursuant to subsection 3 of NRS 669.225 and the money deposited exceeds the amount of federal deposit insurance applicable to the money, the affiliate depository institution shall deliver to the trust company or put under the control of the trust company collateral security in accordance with 12 C.F.R. § 9.10 or § 550.8, whichever is applicable.

(Added to NAC by Comm’r of Financial Institutions, eff. 5-27-92)

                    
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