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

NAC677.080. “Impaired capital” defined.

Latest version.

“Impaired capital” means that the minimum amount of capital, required by NRS 677.210 to be maintained in the capital stock and capital surplus accounts, is reduced by a deficit balance in the company’s undivided profit account. After the undivided profits have reached 10 percent of capital stock, capital will be considered to be impaired if the undivided profits fall below this level.

[Dep’t of Commerce, Thrift Companies Reg. § 1 subsec. 1.11, eff. 1-4-76; A and renumbered as subsec. 1.9, 1-4-78]

                    
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