NRS 673.5915 Payment of insured deposits; subrogation.
142 words·~1 min read·
/nv/chapter-673-savings-banks/673-5915·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 673.5915 Payment of insured deposits; subrogation.
1. When any state savings bank has been closed as provided in NRS 673.5912 , and the Federal Deposit Insurance Corporation pays, or makes available for payment, the insured deposit liabilities of such closed savings bank, the Federal Deposit Insurance Corporation, whether or not it has become receiver or liquidator of such closed savings bank, must be subrogated to all rights against such closed bank of the owners of such deposits in the same manner and to the same extent as subrogation of the Federal Deposit Insurance Corporation is provided for in the Federal Deposit Insurance Act in the case of the closing of a national bank.
2. The rights of depositors and other creditors of such closed savings bank will be determined in accordance with the applicable provisions of the laws of this State.