Nevada Revised Statutes Section 671.050 - Banks and Related Organizations

Application for license: Contents; bond or securities; financial statement; fees.

1. Every application for a license required pursuant to this chapter must be in writing, signed by the applicant, and in the form prescribed by the Commissioner.

2. The application must contain:

(a) The name and principal business address of the applicant and, if incorporated, the date and place of its incorporation;

(b) The name and address of each of the applicant’s branch offices, subsidiaries or affiliates, if any, which will be operated under the license;

(c) The name and addresses, business and residential, of the proprietor or partners of the applicant or, if the applicant is a corporation or association, of each of the directors, trustees and principal officers, and of any stockholder who owns 20 percent or more of the applicant’s stock; and

(d) Such other pertinent information as the Commissioner requires.

3. The application must be accompanied by:

(a) A surety bond or securities as required by this chapter.

(b) A certified financial statement, satisfactory to the Commissioner, showing that the applicant’s net worth exceeds $100,000, unless the applicant’s surety bond or the securities deposited pursuant to NRS 671.110 are in at least twice the minimum principal sum required by NRS 671.100.

(c) A nonrefundable fee of $250 for the application and survey. The applicant shall also pay such additional expenses incurred in the process of investigation as the Commissioner deems necessary.

(d) A fee of not less than $100 nor more than $200, prorated on the basis of the licensing year as provided by the Commissioner.

4. All money received by the Commissioner pursuant to this section must be placed in the Investigative Account created by NRS 232.545.

Last modified: February 26, 2006