1. Every savings association chartered under the laws of this State in existence on June 3, 2017, is automatically converted, by operation of law, into a savings bank licensed under the laws of this State. The Commissioner shall issue a savings bank charter to each such entity immediately after June 3, 2017. 2. Every savings bank that is converted from a savings association pursuant to subsection 1 shall have all of the rights, powers, privileges, immunities and exceptions provided by this chapter to a savings bank. (Added to NRS by 2017, 1921)
Nevada Legal Code