1. A central credit union may be organized and operated under the provisions of this chapter by any three credit unions incorporated within this state. A central credit union is subject to all provisions not inconsistent with this section and shall use the term “central” in its official name.
2. A central credit union has all the rights and powers of any other credit union organized under this chapter and, in addition, a central credit union may:
(a) Make loans to other credit unions;
(b) Purchase shares and make deposits in other credit unions;
(c) Obtain the assets and liabilities of any credit union operating in this state which enters into liquidation;
(d) Invest in and grant loans to associations of credit unions or organizations chartered to provide exclusive service to credit unions; and
(e) Borrow money from any source and issue notes or debentures.
(Added to NRS by 1975, 393; A 1977, 891) — (Substituted in revision for NRS 678.850)
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