1. The business and affairs of every savings bank must be managed and controlled by a board of not less than five nor more than 25 directors, a majority of which must not be full-time officers of the savings bank. The persons designated in the articles of incorporation are the first directors. 2. Vacancies in […]
No person is eligible to serve as a director of a savings bank without the written permission of the Commissioner if he or she: 1. Has been adjudicated bankrupt or has taken the benefit of any assignment for the benefit of creditors or has suffered a judgment recovered against him or her for a sum […]
If the Commissioner notifies the board of directors of any savings bank, in writing, that he or she has information that any director, officer or employee of the savings bank is failing in the performance of his or her duties, the board of directors shall meet and consider the matter forthwith. The Commissioner must have […]
1. Any director may be removed from office, if he or she has become ineligible pursuant to NRS 673.209, by an affirmative vote of two-thirds of the members of the board of directors at any regular meeting of the board of directors or at any special meeting called for that purpose. Such action shall be […]
Directors and officers of a savings bank shall discharge the duties of their respective positions in good faith and with the diligence, care and skill which ordinary, prudent persons would exercise under similar circumstances in a similar position. (Added to NRS by 1967, 1021; A 1997, 1623; 2017, 1931)
The board of directors of a savings bank shall elect the officers named in the bylaws of the savings bank, which officers shall serve at the pleasure of the board of directors. (Added to NRS by 1967, 1021; A 2017, 1931)
1. The board of directors of each savings bank shall hold a regular meeting at least once each quarter, at a time to be designated by it in accordance with its bylaws. 2. Special meetings of the board of directors may be held upon notice to each director sufficient to permit his or her attendance. […]
Every official communication by the Commissioner directed to the board of directors of a savings bank must be presented at the next meeting of the board of directors and made a part of the minutes of the meeting. (Added to NRS by 1967, 1021; A 1983, 1780; 1987, 1964; 2017, 1931)
1. A savings bank shall immediately notify the Commissioner of any change or proposed change in ownership of the stock of the savings bank which would result in any person, including a business trust, obtaining 5 percent or more of the outstanding capital stock of the savings bank. 2. An application must be submitted to […]
A savings bank may provide for pensions, retirement plans and other benefits for its officers and employees, and may contribute to the cost thereof in accordance with the plan adopted by its board of directors. (Added to NRS by 1967, 1022; A 2017, 1932)
The board of directors shall approve the depositary or depositaries for funds of the savings bank. (Added to NRS by 1967, 1022; A 2017, 1932)
1. It is unlawful for an officer, director, employee or capital stockholder of a savings bank: (a) To solicit, accept or agree to accept, directly or indirectly, from any person other than the savings bank or an affiliate of the savings bank, any gratuity, compensation or other personal benefit for any action taken by the […]
Any savings bank director, officer or other person who knowingly and willingly participates in any violation of the laws of this state relative to savings banks is liable for all damage which the savings bank, its stockholders, savings depositors or creditors sustain in consequence of such violation. (Added to NRS by 1967, 1024; A 1977, […]
Nothing in this chapter limits the authority of a savings bank to indemnify and defend, or to provide reimbursement for expenses of defending an action to, officers, directors, employees, agents or other parties as such authority may be provided under the laws of this State, if such indemnification does not violate the limitations on indemnification […]
