NAC673.010. Determination of total assets for purposes of NRS 673.260 and 673.430.

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Except as provided in this section, for the purposes of NRS 673.260 and 673.430, “total assets” are the dollar cost of the various assets appearing in a statement of condition. The Administrator of Financial Institutions will adjust the cost downward in the amount of the following items:

     1. Reserves or allowances for depreciation, computed in accordance with accepted accounting practice;

     2. Specific loss reserves established by the Administrator pursuant to NRS 673.319, but not blanket, unallocated reserves;

     3. The amount carried as loans in process on the liability side of the annual statement of condition; and

     4. The amount of any offset under liabilities which in effect reduces an asset, purchased at a discount and carried as an asset at face value, to its amortized cost.

[Comm’r of Savings Associations, No. 1976-1, eff. 7-2-76]—(NAC A by Admstr. of Financial Institutions, eff. 6-29-84)

                    
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