Examination of affairs of bank by Commissioner; issuance of certificate authorizing commencement of business.
1. Upon filing of the statement and proof by the banking corporation or company as required by NRS 659.085, the Commissioner shall examine its affairs, ascertain especially the amount of the initial stockholders’ or members’ equity, the name and place of residence of each director, the amount of stock of which each is the owner in good faith or the amount of his contribution, and whether the banking corporation or company has complied with all the provisions of law required to entitle it to engage in business.
2. If upon the examination the Commissioner finds that the banking corporation or company is lawfully entitled to commence business, he shall give to it a certificate signed by the Commissioner that it has complied with all the provisions of law required before commencing business and that it is authorized to commence business.
Last modified: February 26, 2006