NRS678.300. Requirement of incorporation; exceptions; applicability of NRS 81.410 to 81.540, inclusive; perpetual existence.

      1.  Except for a credit union organized under the Federal Credit Union Act or a foreign credit union which has been issued a certificate of authority by the Commissioner, any credit union whose principal business is to borrow, loan and invest money on behalf of its members and which issues membership certificates must be incorporated under the provisions of this chapter. For that purpose, the provisions of NRS 81.410 to 81.540, inclusive, which are not in conflict with the provisions of this chapter, apply to such corporations and to the officers and stockholders thereof, except as otherwise provided in NRS 678.342 to 678.347, inclusive.

      2.  A credit union organized under the provisions of this chapter has perpetual existence, subject to dissolution as provided in this chapter.

      (Added to NRS by 1975, 379; A 1977, 890; 1983, 2015; 1985, 315; 1987, 2014)