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.
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.
(Added to NRS by 1963, 465; A 1967, 1015; 1971, 628; 1983, 1781; 1987, 1965; 1993, 2809; 2017, 1934)