Nevada Code § 266.515

1. The treasurer, or the county treasurer
when acting as ex officio city treasurer, shall keep all money belonging to the
city separate from all other money held for any other purpose or fund and may,
when one or more insured banks, credit unions, savings and loan associations or
savings banks are located in the city, deposit, with unanimous consent of his
or her bondsmen, city money in such banks, credit unions, savings and loan
associations or savings banks in demand or time accounts. When no such banks,
credit unions, savings and loan associations or savings banks exist in the
city, the treasurer or county treasurer may deposit, with the unanimous consent
of his or her bondsmen, city money with any insured bank, credit union, savings
and loan association or savings bank in the State of Nevada in demand or time
accounts.
2. The treasurer or county treasurer may,
with unanimous consent of his or her bondsmen, enter into an agreement with an
insured bank, credit union, savings and loan association or savings bank to:
(a) Arrange for the redeposit of any money
belonging to the city that exceeds the limits of insurance provided by an
instrumentality of the United States or pursuant to NRS 672.750 into one or more insured
deposit accounts in one or more insured state or national banks, credit unions,
savings and loan associations or savings banks; and
(b) Ensure that the total amount of money
redeposited and any interest accrued on that money is within the limits of
insurance provided by an instrumentality of the United States or pursuant to NRS 672.750 .
3. The accounts must be kept in the name
of the city in such manner as the governing board of the city may prescribe and
under such terms and conditions for the protection of the money as the
governing board may determine, not inconsistent with other laws of the State of
Nevada regulating the deposit of public money.
4. The balances in banks, credit unions,
savings and loan associations or savings banks, as certified to by the proper
officer thereof, and by the oath of the city treasurer, may be counted as cash.

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