Nevada Revised Statutes 673.227 – Land and office buildings of savings bank; limitation on costs
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1. A savings bank may purchase or lease property for its office buildings or construct its office buildings on property purchased or leased by it, if the total cost of land and improvements does not exceed 70 percent of the sum of the capital, surplus and reserves of the savings bank.
Terms Used In Nevada Revised Statutes 673.227
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
2. With the approval of the Commissioner, senior capital notes of the Federal Deposit Insurance Corporation may be included in capital for the purposes of this section.