SB 375
Revises provisions relating to credit unions. (BDR 55-605)
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Sign in to take action- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Bill overview
This bill makes several changes to regulations governing credit unions in Nevada. It temporarily allows the Commissioner of Financial Institutions to suspend certain credit union regulations during emergencies or in the public interest, subject to specific requirements. The bill also reduces the minimum par value for shares to $1, allows low-income credit unions to issue shares to nonmembers, and simplifies office opening requirements. Furthermore, it revises provisions related to board meetings, membership, loan requirements, and investment options, including the addition of municipal bonds to permissible investments.
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