A federal savings bank, national bank or state bank may convert itself into a savings bank under the laws of this State upon a vote of 51 percent or more of the votes of members of the converting institution cast at any regular or special meeting called to consider the action. [Part 1:140:1939; 1931 NCL […]
At the meeting the members shall also vote upon the directors who shall be the directors of the savings bank after conversion takes effect, to hold office until the next annual meeting and until their successors are elected and qualified. [Part 1:140:1939; 1931 NCL § 974.30]—(NRS A 1977, 504; 2017, 1952)
Copies of the minutes of the proceedings of the meeting, verified by the affidavit of the president or vice president and the secretary or an assistant secretary, must be filed in the Office of the Commissioner and, in duplicate, with the Federal Home Loan Bank or Federal Reserve Bank of which the savings bank is […]
The verified copies of the minutes of the meeting, when filed as required by NRS 673.670, shall be presumptive evidence of the holding and action of such meeting. [Part 1:140:1939; 1931 NCL § 974.30]
1. After the meeting, the converting institution shall take such action in the manner prescribed and authorized by the laws of this state as shall make it a savings bank of this state, and the directors elected at the meeting shall file such documents and follow such procedures as are required by the laws of […]
The directors may, if they so desire, insert in the articles of incorporation the following statement: “This savings bank (company or corporation) is incorporated by conversion from a federal savings bank, national bank or state bank, as applicable.” [Part 1:140:1939; 1931 NCL § 974.30]—(NRS A 2017, 1952)
Within 10 days after the filing of the articles of incorporation with the Secretary of State, there shall be filed with the Federal Home Loan Bank or Federal Reserve Bank of which such savings bank is a member two copies of the articles of incorporation, certified by the Secretary of State. [Part 1:140:1939; 1931 NCL […]
Upon the filing of the articles of incorporation with the Secretary of State, the institution ceases to be a federal savings bank, national bank or state bank, as applicable, and thereafter is a savings bank. All of the property of the converting institution, including all of its right, title and interest in and to all […]
The savings bank shall have, hold and enjoy the property mentioned in NRS 673.720 in its own right as fully and to the same extent as the property was possessed, held and enjoyed by it as a federal savings bank, national bank or state bank, and the savings bank continues to be responsible for all […]
Every executor, administrator, trustee, guardian, receiver, fiduciary, public corporation, political subdivision, public instrumentality, charitable, educational and eleemosynary institution, bank, savings bank, trust company, financial institution, insurance company, or cemetery association, without the necessity of obtaining court approval, may: 1. Vote in person or by proxy in favor of converting a federal savings bank, national bank […]
