NRS 673.055 - Savings associations automatically converted into savings banks; issuance by Commissioner of savings bank charters to converted entities; rights, powers, privileges, immunities and exceptions provided to converted entities.

NV Rev Stat § 673.055 (2019) (N/A)

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1. Every savings association chartered under the laws of this State in existence on June 3, 2017, is automatically converted, by operation of law, into a savings bank licensed under the laws of this State. The Commissioner shall issue a savings bank charter to each such entity immediately after June 3, 2017.

2. Every savings bank that is converted from a savings association pursuant to subsection 1 shall have all of the rights, powers, privileges, immunities and exceptions provided by this chapter to a savings bank.

(Added to NRS by 2017, 1921)

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