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

NAC678.050. Reserve for liquidity; demand deposits.

Latest version.

     1. A credit union shall hold liquid assets in an amount equal to at least 5 percent of its members’ accounts.

     2. The Commissioner may issue an order requiring a credit union to cease and desist from offering demand deposit accounts if it fails to maintain the reserve for liquidity as required by subsection 1.

     3. Every credit union which maintains a demand deposit program shall post a notice in the manner prescribed by subsection 1 of NRS 205.134 concerning issuance of a check or draft without funds or with intent to defraud.

[Comm’r of Credit Unions, § C, eff. 8-12-76; A and renumbered as § D, 12-14-78; A 2-6-81]—(NAC A by Admstr. of Financial Institutions, eff. 6-29-84; A by Comm’r of Financial Institutions by R002-00, 3-13-2000)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');