State Codes and Statutes

Statutes > Nevada > Title-31 > Chapter-356 > Deposit-of-state-money-in-bank-credit-union-or-savings-and-loan-association > 356-010

356.010  Conditions; compensation.  All money under the control of the State Treasurer belonging to the State must be deposited in any state or national banks, any insured credit unions or in any insured savings and loan associations in this State or, if approved by the State Board of Finance, in any banks, insured credit unions or insured savings and loan associations outside of this State. The depository banks, credit unions or savings and loan associations may, if authorized by a contract negotiated with the State Treasurer, receive compensation for handling, collecting and paying all checks, drafts and other exchange. The compensation may be provided through the use of a compensating balance or a fixed-rate fee, or any combination thereof.

      [1:161:1935; A 1937, 365; 1931 NCL § 7029.01]—(NRS A 1959, 568; 1969, 647; 1975, 1802; 1979, 725, 1889; 1981, 344, 1364; 1995, 929; 2009, 2656)