NRS 673.730 Enjoyment of property by converted savings bank; savings bank as continuation of previous institution.
137 words·~1 min read·
/nv/chapter-673-savings-banks/673-730·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 673.730 Enjoyment of property by converted savings bank; savings bank as continuation of previous institution. 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 of the obligations of the institution before its conversion to the same extent as though the conversion had not taken place.
It is expressly declared that the savings bank is merely a continuation of the institution before its conversion under a new name, a new jurisdiction and such revision of its corporate structure as may be considered necessary for its proper operation under the new jurisdiction.