NRS673.318. Appraisal of real estate at time of acquisition.

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Every association shall appraise each parcel of real estate at the time of acquisition thereof. The report of each appraisal must be submitted in writing to the board of directors and must be kept in the records of the association. The Commissioner may require the appraisal of real estate securing loans by an appraiser selected by the Commissioner. The association whose securities are appraised under this section shall pay the expense of the appraisal to the Commissioner upon demand. Money so received must be deposited in the State Treasury pursuant to the provisions of NRS 658.091. Copies of appraisals must be furnished to the association.

(Added to NRS by 1959, 540; A 1961, 770; 1963, 468; 1965, 1139; 1983, 1786; 1987, 1970; 2003, 3233)

                    
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