It is unlawful for any person, firm, company or corporation knowingly to deliver to any public officer of this State or of any political subdivision thereof, or for any such public officer knowingly to accept, any depository bond of any surety company for the security of any public money deposited or to be deposited by […]
A public officer shall not accept any such depository bond unless there is attached thereto a certificate, under oath, of some authorized officer or agent of the surety company to the effect that, at the time of executing the bond, no stockholder or director of the surety company furnishing the bond is a stockholder, member […]
Any person, firm, company or corporation violating any of the provisions of NRS 356.210 and 356.220 shall be guilty of a misdemeanor. [3:98:1933; 1931 NCL § 5232.02] PROGRAM TO MONITOR COLLATERAL MAINTAINED BY CERTAIN DEPOSITORIES
As used in NRS 356.300 to 356.390, inclusive, unless the context otherwise requires, the words and terms defined in NRS 356.305 to 356.340, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2003, 20th Special Session, 285; A 2007, 918)
“Acceptable securities” means the securities described in: 1. Subsection 1 of NRS 356.020; and 2. Subsection 1 of NRS 356.133. (Added to NRS by 2007, 918)
“Depository” means an insured state or national bank, insured savings and loan association, insured savings bank or insured credit union in this State in which public money is held on deposit. The term does not include a third-party depository. (Added to NRS by 2003, 20th Special Session, 285)
1. “Public money” means all money deposited with a depository by any of the following: (a) The State Treasurer. (b) An official custodian with plenary authority, including control over money belonging to, or held for the benefit of, the State or any of its political subdivisions, public corporations, municipal corporations, courts, or public agencies, boards, […]
“Third-party depository” means a trust company, a broker-dealer registered under 15 U.S.C. § 78o(b)(1) or trust department of a state, national or federal reserve district bank which is authorized to hold acceptable securities on behalf of a depository for the benefit of a collateral pool pursuant to regulations adopted by the State Treasurer under NRS […]
The State Treasurer shall establish a program for the monitoring of collateral maintained by a depository for the uninsured balances of public money upon the request of the public entity that deposited the public money with the depository. (Added to NRS by 2003, 20th Special Session, 285; A 2019, 670)
The program established pursuant to NRS 356.350 must provide that: 1. Each depository that participates in the program is required to maintain as collateral acceptable securities having a fair market value that is at least 102 percent of the amount of the uninsured balances of the public money held by the depository; 2. A depository […]
1. Once each fiscal year, the State Treasurer shall levy a pro rata assessment against each depository that participated in the program established pursuant to NRS 356.350 at any time during the immediately preceding fiscal year. 2. The amount of the assessment levied pursuant to subsection 1 must be based on the average weekly deposits […]
1. A depository shall, within 45 days after the date on which the depository received the notice provided pursuant to subsection 3 of NRS 356.370, remit to the State Treasurer the amount of the assessment levied against the depository. 2. The State Treasurer may impose an administrative fine not exceeding $500 per day against a […]
The State Treasurer shall adopt such regulations as he or she determines are necessary to carry out the provisions of NRS 356.300 to 356.390, inclusive. (Added to NRS by 2003, 20th Special Session, 286)
