Requirements for stockholders’ or members’ equity determined by Commissioner; deposit liability; acceptance of deposits.
1. The stockholders’ or members’ equity of any state bank must, subject to the limitations set forth in NRS 661.015, be at least 6 percent of the total deposit liability of the bank as determined by the Commissioner. In determining the amount of stockholders’ or members’ equity that will be required, the Commissioner shall give due consideration to the character and liquidity of the assets of the bank and to the standards regarding equity requirements established by other state and federal banking supervising agencies.
2. The Commissioner shall, to determine the requirements for stockholders’ or members’ equity for any state bank, include undivided profits, capital notes, debentures and any reserve for losses.
3. The deposit liability for the purposes of this section must be the average of daily deposit liabilities for the preceding 60 calendar days.
4. This section does not prohibit the acceptance of deposits by any bank while it is proceeding expeditiously, as determined by the Commissioner, to comply with the provisions of this section.
Last modified: February 26, 2006