NRS 645F.780: Corporate governance: Establishment of board of directors or similar body.

1. Except as otherwise provided in subsection 2, a covered institution shall establish and maintain a board of directors.

2. A covered institution may establish a body similar to a board of directors to perform the duties imposed by NRS 645F.790 if:

(a) The covered institution is not approved by an agency to service loans; or

(b) An agency has granted the covered institution approval to establish an alternative to a board of directors.