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Nevada Revised Statutes - Banks and Related Organizations

Nevada Revised Statutes Section 657.005

Definitions. As used in this title, unless the context otherwise requires, the words and terms defined in NRS 657.016 to 657.085, inclusive, have the meanings ascribed to them in those ...

Nevada Revised Statutes Section 657.016

“Bank,” “commercial bank,” “banking company” and “banking corporation” defined. “Bank,” “commercial bank,” “banking company” or “banking corporation” means a corporation or limited-liability company that is chartered by this State, another ...

Nevada Revised Statutes Section 657.026

“Commissioner” defined. “Commissioner” means the Commissioner of Financial Institutions. ...

Nevada Revised Statutes Section 657.035

“Demand deposits” defined. “Demand deposits” means all deposits the immediate withdrawal of which can be legally required upon a proper written request for such payment. ...

Nevada Revised Statutes Section 657.037

“Depository institution” defined. “Depository institution” means any bank, savings and loan association, savings bank, thrift company, credit union or other institution, whether chartered by this State, another state or the ...

Nevada Revised Statutes Section 657.040

“Division of Financial Institutions” defined. “Division of Financial Institutions” means the Division of Financial Institutions of the Department of Business and Industry. ...

Nevada Revised Statutes Section 657.045

“Insolvency” defined. “Insolvency” means one or more of the following:

1. When a bank cannot meet its deposit liabilities as they become due in the regular course of business.

Nevada Revised Statutes Section 657.055

“Net earnings” defined. “Net earnings” means the excess of the gross earnings of any bank over the expenses and losses chargeable against such earnings. ...

Nevada Revised Statutes Section 657.058

“Nevada” defined. “Nevada” when used to modify:

1. The word “bank” or the term “depository institution” means organized under the laws of this State; and

2. The term ...

Nevada Revised Statutes Section 657.064

“Savings deposit” defined. “Savings deposit” means a deposit or account:

1. With respect to which the depository institution may require the depositor to give written notice of withdrawal not ...

Nevada Revised Statutes Section 657.070

“Stockholders’ equity” and “members’ equity” defined. “Stockholders’ equity” or “members’ equity” means the capital, surplus and retained earnings of a bank. ...

Nevada Revised Statutes Section 657.075

“Surplus” defined. “Surplus” means a fund created pursuant to the provisions of this title by a bank from payments by stockholders or members or from the bank’s net earnings or ...

Nevada Revised Statutes Section 657.085

“Time deposit” defined. “Time deposit” means a deposit which:

1. The depositor does not have a right to withdraw for a period of 7 days or more after the ...

Nevada Revised Statutes Section 657.095

Applicability of chapters 78, 86 and 92A of NRS. The provisions of chapters 78, 86 and 92A of NRS that are not in conflict with this title are hereby adopted ...

Nevada Revised Statutes Section 657.105

Effect of title on powers, privileges, duties and restrictions of corporations, companies, associations and natural persons.

1. The powers, privileges, duties and restrictions conferred and imposed upon any corporation, ...

Nevada Revised Statutes Section 657.120

Fees and charges: Imposition and collection by financial institution; limitations.

1. A financial institution may impose and collect a fee or charge, not to exceed an amount specified in ...

Nevada Revised Statutes Section 657.130

Committees to review compliance: Definitions; confidentiality and privilege.

1. As used in this section, unless the context otherwise requires:

(a) “Committee to review compliance” means one or more ...

Nevada Revised Statutes Section 658.015

Administration of provisions of title. The Commissioner and the Division of Financial Institutions shall administer the provisions of this title, subject to administrative supervision by the Director of the Department ...

Nevada Revised Statutes Section 658.021

Commissioner: Qualifications; restrictions on other employment. The Commissioner:

1. Must be a person who has had practical experience in banking, savings and loan associations or other financial institutions.

...

Nevada Revised Statutes Section 658.025

Commissioner prohibited from having interest in bank or regulated corporation. The Commissioner must not, either directly or indirectly, be interested in any bank or corporation to which this title is ...

Nevada Revised Statutes Section 658.035

Oath of Commissioner. After appointment and before entering upon the discharge of the duties of his office, the Commissioner shall take and subscribe to an official oath. ...

Nevada Revised Statutes Section 658.045

Office. The Division of Financial Institutions must be furnished with suitable offices for the performance of its duties. ...

Nevada Revised Statutes Section 658.055

Deputy commissioners; other employees; independent audits and examinations; assessments; account for auditing financial institutions.

1. The Commissioner may appoint deputy commissioners of financial institutions, examiners, assistants, clerks, stenographers and ...

Nevada Revised Statutes Section 658.065

Oath of deputy commissioners. Every deputy commissioner of financial institutions shall, before entering upon the discharge of his duties, take and subscribe to the constitutional oath of office. ...

Nevada Revised Statutes Section 658.085

Advisory capacity of State Board of Finance. The State Board of Finance shall act in an advisory capacity to the Division of Financial Institutions in the administration of the provisions ...

Nevada Revised Statutes Section 658.091

Deposit, use and disposition of money; Commissioner to administer account.

1. Except as otherwise provided by law, any money appropriated to the Commissioner or the Division of Financial Institutions ...

Nevada Revised Statutes Section 658.096

Fees charged by Commissioner.

1. The Commissioner shall charge and collect the following fees in connection with his official duties:

(a) For licensing of state banks:

(1) ...

Nevada Revised Statutes Section 658.098

Assessment for cost of legal services provided to Commissioner and Division of Financial Institutions; deposit of money in State Treasury.

1. On a quarterly or other regular basis, the ...

Nevada Revised Statutes Section 658.101

Rates charged by Commissioner for supervision and examination.

1. The Commissioner shall establish by regulation rates to be paid by banks and other financial institutions for supervision and examinations ...

Nevada Revised Statutes Section 658.105

Powers of Commissioner. In addition to the other powers conferred upon him by this title, the Commissioner:

1. Is charged with the enforcement of the provisions of this title, ...

Nevada Revised Statutes Section 658.115

Summary orders of Commissioner.

1. The Commissioner shall make summary orders in writing as provided in subsections 2 to 5, inclusive.

2. If a bank, a member of ...

Nevada Revised Statutes Section 658.125

Appeals to State Board of Finance. Any bank aggrieved by any decision or order issued by the Commissioner or any member of his staff must appeal to the State Board ...

Nevada Revised Statutes Section 658.135

Attestation of licenses, orders and certificates. All licenses, orders and certificates issued by the Commissioner must be attested by the seal of the Division of Financial Institutions and by the ...

Nevada Revised Statutes Section 658.145

Power of Commissioner to offer rewards.

1. The Commissioner may offer, under such conditions as he may deem proper, rewards not to exceed the sum of $500 in any ...

Nevada Revised Statutes Section 658.151

Power of Commissioner to take possession of business and property of depository institution; grounds.

1. The Commissioner may forthwith take possession of the business and property of any depository ...

Nevada Revised Statutes Section 658.155

Penalty: Neglect of duty under title; false or injurious statement concerning bank; malfeasance or corruption in office. Any member of the State Board of Finance, the Commissioner or any member ...

Nevada Revised Statutes Section 658.165

Officers and employees of Division of Financial Institutions prohibited from having interest in certain banks; exceptions; termination of interest.

1. Except as otherwise provided in subsections 3 and 4, ...

Nevada Revised Statutes Section 658.175

State Board of Finance bound by limitations imposed on Commissioner as to certification of new banks and establishment of branch banks. Notwithstanding any other provisions of this title, the State ...

Nevada Revised Statutes Section 658.185

Incidental powers of Commissioner. In addition to the express powers, duties and functions given to the Commissioner by this title, the Commissioner has such other powers and rights as may ...

Nevada Revised Statutes Section 658.195

Right to sue and defend in actions involving banks; liability to suit.

1. The Commissioner may sue and prosecute or defend in any action or proceeding in any court ...

Nevada Revised Statutes Section 659.015

Requirements for organization by person, existing corporation or existing limited-liability company.

1. One or more persons who desire to form a bank and engage in the business of establishing, ...

Nevada Revised Statutes Section 659.025

Articles of incorporation or organization: Contents. The articles of incorporation or organization must, in addition to the requirements prescribed in chapters 78 and 86 of NRS, set forth the nature ...

Nevada Revised Statutes Section 659.035

Delivery of articles of incorporation or organization for filing; delivery of certificate of amendment of articles by existing corporation or limited-liability company for filing; restriction on filing.

1. If ...

Nevada Revised Statutes Section 659.045

Examination and certification of proposed bank by Commissioner; payment and deposit of fee and expenses.

1. Upon receipt of a copy of the articles of incorporation or organization or ...

Nevada Revised Statutes Section 659.047

Payment of assessment; cooperation with audits and examinations. Each bank shall pay the assessment levied pursuant to NRS 658.055 and cooperate fully with the audits and examinations performed pursuant thereto. ...

Nevada Revised Statutes Section 659.055

Appeal from refusal to make certification. Any person aggrieved by any decision of the Commissioner made under NRS 659.045 may appeal to the State Board of Finance if a review ...

Nevada Revised Statutes Section 659.065

Filing of articles of incorporation or organization; filing of certificate of amendment of articles; effect of filing; admissibility of articles as evidence; limitation on validity.

1. Upon receipt of ...

Nevada Revised Statutes Section 659.075

Payment of initial stockholders’ or members’ equity; sale of stock or solicitation of contributions to bank in process of organization.

1. Subject to subsection 2, the initial stockholders’ or ...

Nevada Revised Statutes Section 659.085

Filing of statement regarding directors, managers and officers and proof of federal deposit insurance. Before the banking corporation or company begins business, it shall file with the Commissioner:

1. ...

Nevada Revised Statutes Section 659.095

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 ...

Nevada Revised Statutes Section 659.105

Restriction on transaction of business. No banking corporation or company may transact any business except such as is incidental and necessarily preliminary to its organization until it has been authorized ...

Nevada Revised Statutes Section 659.115

Unlawful transaction of banking business without license; penalty.

1. No person, except a bank maintaining an office in this state and doing business under the laws of the United ...

Nevada Revised Statutes Section 659.125

Unlawful use of words “bank,” “banking” or “banker” in name; exceptions; penalty.

1. A business entity may not be organized under the laws of this state with the words ...

Nevada Revised Statutes Section 660.015

Location; establishment; discontinuance; review of Commissioner’s action.

1. Banks organized under this title may maintain branch offices but the location of the principal office and the parent bank must ...

Nevada Revised Statutes Section 660.025

Service centers: Definition; establishment.

1. As used in this section, “service center” is a place where functions of a bank are performed that do not involve the receiving of ...

Nevada Revised Statutes Section 660.035

Foreign branches: Contents of application; powers of Commissioner; separate accounting for each branch required.

1. Any bank organized under the laws of this state that has a stockholders’ or ...

Nevada Revised Statutes Section 660.045

Definitions. As used in NRS 660.045 to 660.105, inclusive, unless the context otherwise requires:

1. “Electronic terminal” means an electronic device, other than a telephone operated by a customer, ...

Nevada Revised Statutes Section 660.050

Authority to operate; terminal is not branch office.

1. A financial institution may operate one or more electronic terminals in this state.

2. For the purposes of NRS ...

Nevada Revised Statutes Section 660.052

Fee for and record of transaction.

1. A financial institution operating an electronic terminal may charge a transaction fee to the customer using the electronic terminal if the transaction ...

Nevada Revised Statutes Section 660.055

Offices for mechanical tellers: Contents. In addition to the mechanical tellers, an office for mechanical tellers may include:

1. A night depository; and

2. Employees of the financial ...

Nevada Revised Statutes Section 660.065

Offices for mechanical tellers: Authorization by Commissioner; office is not branch office.

1. When authorized by the Commissioner, a financial institution may establish and operate one or more offices ...

Nevada Revised Statutes Section 660.075

Application to establish office for mechanical teller; fee for application; annual fee. An application for authority to establish and operate one or more offices for mechanical tellers must be made ...

Nevada Revised Statutes Section 660.085

Discontinuance of office for mechanical teller.

1. If a financial institution wishes to discontinue the operation of an office for mechanical tellers, it must notify the Commissioner in writing ...

Nevada Revised Statutes Section 660.095

Sharing of mechanical tellers and other electronic terminals.

1. A financial institution may share the space in an office for mechanical tellers or may share use of a mechanical ...

Nevada Revised Statutes Section 660.105

Construction of provisions relating to electronic transfer of money. The provisions of this chapter relating to the electronic transfer of money must be construed in a manner which is consistent ...

Nevada Revised Statutes Section 660.115

Definitions. As used in NRS 660.115 to 660.235, inclusive, unless the context otherwise requires, the words and terms defined in NRS 660.125 to 660.185, inclusive, have the meanings ascribed to ...

Nevada Revised Statutes Section 660.125

“Area of access” defined. “Area of access” means a paved walkway or sidewalk which is within 50 feet of an automated teller, except a publicly maintained road or a sidewalk ...

Nevada Revised Statutes Section 660.135

“Automated teller” defined. “Automated teller” means any electronic device which accepts or dispenses cash in connection with an account maintained in a financial institution or with another business. The term ...

Nevada Revised Statutes Section 660.145

“Control” defined. A person has “control” of an area of access or a defined parking area if he has the present authority to determine how, when and by whom it ...

Nevada Revised Statutes Section 660.155

“Customer” defined. “Customer” means a natural person to whom a device for access has been issued for personal, family or household use. ...

Nevada Revised Statutes Section 660.165

“Defined parking area” defined.

1. “Defined parking area” means that portion of any parking area open for customer parking which is:

(a) Contiguous to an area of access ...

Nevada Revised Statutes Section 660.175

“Device for access” defined. “Device for access” means a card, code or other means of access to a customer’s account, or any combination of these, which may be used to ...

Nevada Revised Statutes Section 660.185

“Operator” defined. “Operator” means a financial institution or other person who operates an automated teller. ...

Nevada Revised Statutes Section 660.195

Operator to adopt procedure for evaluating safety of location of automated teller before installation; exception.

1. The operator of an automated teller shall adopt a procedure for evaluating the ...

Nevada Revised Statutes Section 660.205

Requirements for illumination.

1. The operator of an automated teller shall provide illumination from a half hour after sunset until a half hour before sunrise of at least 10 ...

Nevada Revised Statutes Section 660.215

Notice of basic precautions: Requirements; issuance to customers; sufficiency.

1. Each issuer of a device for access to an automated teller shall deliver personally or by mail to each ...

Nevada Revised Statutes Section 660.225

Applicability. The provisions of NRS 660.115 to 660.235, inclusive, do not apply with respect to any automated teller:

1. Located inside of a building:

(a) Unless the building ...

Nevada Revised Statutes Section 660.235

Preemption of codes, ordinances and regulations of local governments relating to safety of customers at automated tellers.

1. NRS 660.115 to 660.235, inclusive, supersede and preempt all codes, ordinances ...

Nevada Revised Statutes Section 661.015

Organization: Minimum initial stockholders’ or members’ equity required; insurance of deposit accounts by Federal Deposit Insurance Corporation. No bank may be:

1. Organized unless its initial stockholders’ or members’ ...

Nevada Revised Statutes Section 661.025

Requirements for stockholders’ or members’ equity determined by Commissioner; deposit liability; acceptance of deposits.

1. The stockholders’ or members’ equity of any state bank must, subject to the limitations ...

Nevada Revised Statutes Section 661.035

Amendment of articles of incorporation to increase or reduce authorized stock; approval by Commissioner.

1. A banking corporation may, with the approval of the Commissioner, amend its articles of ...

Nevada Revised Statutes Section 661.065

Liability of persons holding stock in or becoming substituted members of bank in fiduciary capacity. Persons holding stock in banking corporations or becoming substituted members of banking companies as executors, ...

Nevada Revised Statutes Section 661.075

Failure to pay installment on stock or contribution: Sale of stock or member’s interest; forfeiture of amount previously paid.

1. If a stockholder of a banking corporation or member ...

Nevada Revised Statutes Section 661.085

Impaired stockholders’ or members’ equity: Duty of Commissioner to give notice; duty of officers and directors to require bank to make impairment good; power of Commissioner to take possession of ...

Nevada Revised Statutes Section 661.105

Preferred stock: Conditions for issuance; inclusion in determination of compliance with requirements for stockholders’ equity.

1. A banking corporation organized under the laws of this state may, with the ...

Nevada Revised Statutes Section 661.115

Maintenance and filing of list of stockholders or members; additional requirements for list of members.

1. On the fourth Monday in January of each year, a copy of the ...

Nevada Revised Statutes Section 661.125

Report of changes in ownership or management; report of certain loans made by bank; application required after certain acquisitions; investigation by Commissioner; payment of costs; waiver of investigation.

1. ...

Nevada Revised Statutes Section 661.135

Directors or managers: Number; selection.

1. The affairs and business of a banking corporation organized under the laws of this state must be managed or controlled by a board ...

Nevada Revised Statutes Section 661.145

Directors or managers: Qualifications.

1. No person is eligible to serve as a director or manager of any bank, organized or existing under the laws of this State, unless ...

Nevada Revised Statutes Section 661.165

Directors: Quarterly meetings and examination of books required; exemption. The board of directors shall meet at least quarterly in regular meeting. At least quarterly, a thorough examination of the books, ...

Nevada Revised Statutes Section 661.185

Bonds of officers, managers and employees.

1. The active officers, or the managers, and employees of any bank before entering upon their duties shall give bond to the bank ...

Nevada Revised Statutes Section 661.195

Liability of directors, managers, officers and other persons. Any director, manager, officer or other person who knowingly and intentionally participates in any violation of the laws of this state relating ...

Nevada Revised Statutes Section 661.205

Overdrafts. Any overdraft which is outstanding for more than 90 days may not be considered an asset of the bank unless it is adequately secured and in the process of ...

Nevada Revised Statutes Section 661.235

Limitation on declaring dividend or making distribution; exception.

1. As used in this section, “net profits” means the remainder of all earnings from operations plus actual recoveries on loans ...

Nevada Revised Statutes Section 661.240

Additional limitation on making distribution; definition.

1. No distribution may be made by a bank if the distribution would reduce its stockholders’ or members’ equity below its initial stockholders’ ...

Nevada Revised Statutes Section 662.015

General powers of banks; power of Commissioner to waive or modify requirements of law.

1. In addition to the powers conferred by law upon private corporations and limited-liability companies, ...

Nevada Revised Statutes Section 662.025

Power to participate in Federal Deposit Insurance Corporation. Subject to the approval of the Commissioner, and on the authority of a majority of its managers or board of directors, a ...

Nevada Revised Statutes Section 662.035

Power to maintain separate departments; deposit of money held in fiduciary capacity; regulations.

1. A bank may maintain separate departments and deposit in its commercial department to the credit ...

Nevada Revised Statutes Section 662.046

Dealing in investment securities prohibited.

1. As used in this section “dealing in investment securities” does not include the purchasing and selling of securities without recourse solely upon order ...

Nevada Revised Statutes Section 662.055

Investments in public securities.

1. Notwithstanding any restrictions or limitations on investment contained in any law of this state, a bank may, without limitation, invest its funds in public ...

Nevada Revised Statutes Section 662.065

Investments in private securities; limitation.

1. As used in this section, “private security” means a marketable obligation in the form of a bond, note or debenture which is commonly ...

Nevada Revised Statutes Section 662.075

Investments authorized as security for deposits of public money.

1. Notwithstanding any restrictions or limitations on securities for deposits of public money contained in any law of this state, ...

Nevada Revised Statutes Section 662.085

Reserve not required against deposits secured by obligations of or guaranteed by United States; obligations as valid security.

1. A bank shall not be required to maintain a reserve ...

Nevada Revised Statutes Section 662.095

Investment in obligations approved by Federal Housing Administrator, Department of Veterans Affairs, national mortgage association or Federal Home Loan Bank; conditions for making loans; obligations as collateral, deposits or investment ...

Nevada Revised Statutes Section 662.097

Investments in securities of management investment trust or management investment company.

1. A bank which is acting as a fiduciary or agent may, in its discretion or at the ...

Nevada Revised Statutes Section 662.099

Investment in development corporation, corporation for economic revitalization and diversification, corporation for community development or similar corporation. A state bank may purchase for its own account the stock and other ...

Nevada Revised Statutes Section 662.101

Investments in loans to finance interests in cooperative housing corporations.

1. A bank may make or invest in a loan to finance a borrower’s interest in or to refinance ...

Nevada Revised Statutes Section 662.103

Investment in real property for development: Limitations; filing of disclosure with Commissioner; failure to make disclosure unlawful.

1. A bank may invest in real property for development, directly or ...

Nevada Revised Statutes Section 662.105

Stock options and purchases for directors, officers and employees. Subject to any applicable regulations of the Commissioner, a banking corporation may grant options to purchase, sell or enter into agreements ...

Nevada Revised Statutes Section 662.115

Issuance of capital notes, debentures and collateralized debt securities and certificates. A bank may issue capital notes, collateralized debt securities, collateralized debt certificates, or debentures, convertible or otherwise, subject to ...

Nevada Revised Statutes Section 662.125

Limitations on lending on security of or acquisition of own stock or members’ interests; sale and ownership of collateral security.

1. Except as otherwise provided in subsection 2, no ...

Nevada Revised Statutes Section 662.135

Limitations on investment in stock of or membership in other banks and business organizations.

1. Except as otherwise provided in this section and subject to the provisions of NRS ...

Nevada Revised Statutes Section 662.145

Limits on amount of loans; exceptions.

1. Subject to the limitations set forth in NRS 662.155, the total outstanding loans of any bank to any person, company, corporation or ...

Nevada Revised Statutes Section 662.155

Limit on combination of investments and loans involving single obligor, person or entity.

1. The combination of investments in private securities provided for in subsection 5 of NRS 662.065 ...

Nevada Revised Statutes Section 662.175

Limitations on borrowing money and pledging assets; exceptions; purchase of federal reserve money deemed transfer.

1. Any bank may secure money deposited with a bank by the United States, ...

Nevada Revised Statutes Section 662.186

Operating cash: Minimum cash and demand balances; reserves.

1. Each bank doing business under the laws of this state shall have on hand, in cash, at least the sum ...

Nevada Revised Statutes Section 662.205

Membership in Federal Reserve Bank: Authorization; powers, duties and examination of member.

1. As used in this section:

(a) “Board of Governors of the Federal Reserve System” means ...

Nevada Revised Statutes Section 662.215

Authorization; deposits; requirements of receipt or passbook; quarterly or annual statements required; issuance of time certificates.

1. Any bank organized under the provisions of this title may carry on ...

Nevada Revised Statutes Section 662.225

Checks payable in exchange. In order to prevent accumulation of unnecessary amounts of currency in the vaults of the banks chartered by this state, all checks drawn on such banks ...

Nevada Revised Statutes Section 662.231

“Business of a trust company” and “trust company business” defined. As used in NRS 662.231 to 662.245, inclusive, “business of a trust company” or “trust company business” has the meaning ...

Nevada Revised Statutes Section 662.235

Powers and duties when carrying on trust company business; segregation of assets and recordkeeping.

1. Any bank organized under this title may state in its articles of incorporation that ...

Nevada Revised Statutes Section 662.239

Conditions and limitations on maintaining trust offices in Nevada and other states; regulations.

1. A bank organized under this title may maintain trust offices in this or other states ...

Nevada Revised Statutes Section 662.245

Conditions and limitations on certain foreign organizations acting as fiduciary; fees; bond; requirements for service of process.

1. An organization that does not maintain an office in this state ...

Nevada Revised Statutes Section 662.255

Voluntary closure on Saturdays, Sundays and holidays; transaction of business.

1. A bank may elect to close on Saturdays, Sundays or legal holidays. Except as otherwise provided in subsection ...

Nevada Revised Statutes Section 662.265

Emergency closure: Definitions. As used in NRS 662.275 to 662.305, inclusive, unless the context otherwise requires:

1. “Bank” includes national banks to the extent that NRS 662.275 to 662.305, ...

Nevada Revised Statutes Section 662.275

Emergency closure: Powers of Commissioner.

1. Whenever the Commissioner is of the opinion that an emergency exists, or that there is a reasonable probability that an emergency may develop, ...

Nevada Revised Statutes Section 662.285

Emergency closure: Powers of bank’s officers.

1. Whenever the officers of a bank are of the opinion that an emergency exists, or that there is a reasonable probability that ...

Nevada Revised Statutes Section 662.295

Emergency closure: Notification of Commissioner or Comptroller of the Currency. A bank closing an office or offices pursuant to subsection 1 of NRS 662.285 shall give as prompt notice of ...

Nevada Revised Statutes Section 662.305

Emergency closure: Effect of closing.

1. Any day on which a bank, or any one or more of its offices, is closed during all or any part of its ...

Nevada Revised Statutes Section 663.025

Deposits in trust. Whenever any deposit is made in any bank or credit union doing business within this state by any person in trust for another, and no other or ...

Nevada Revised Statutes Section 663.045

Depository collateral not required for insured deposits. Notwithstanding any provision of law of this state or of any political subdivision thereof requiring security for deposits in the form of collateral ...

Nevada Revised Statutes Section 663.055

Unlawful to receive deposit after revocation of authority to transact banking business. Any bank or credit union or officer of any bank or credit union whose authority to transact a ...

Nevada Revised Statutes Section 663.065

Deposits and safe-deposit boxes of minors.

1. When any deposit is made in a bank or credit union by a minor, the bank or credit union may pay to ...

Nevada Revised Statutes Section 663.075

School thrift or savings plans.

1. A bank or credit union may arrange for the collection of savings from school children by the principal of the school, by the ...

Nevada Revised Statutes Section 663.085

Safe-deposit boxes: Notice of overdue rental; opening of box; retention of contents in general vaults; delivery of contents to State Treasurer.

1. If the rental due on a safe-deposit ...

Nevada Revised Statutes Section 664.015

Division of Financial Institutions may authorize restriction of withdrawals; procedure; segregation of new deposits.

1. The Division of Financial Institutions may, upon a proper application in writing showing good ...

Nevada Revised Statutes Section 664.025

Cashier’s check acceptable in lieu of certified check. Any time that a certified check is required in any legal document or transaction, the effectiveness of which document or transaction is ...

Nevada Revised Statutes Section 665.015

Commissioner to provide forms for examinations and reports; preservation of reports.

1. For the purpose of carrying into effect the provisions of this title, the Commissioner shall provide the ...

Nevada Revised Statutes Section 665.025

Commissioner to make examinations of banks. The Commissioner shall make a thorough examination of and into the affairs of every bank doing business under this title, as often as the ...

Nevada Revised Statutes Section 665.035

Reports of examination.

1. The results of the examinations and inquiries must be reduced to a written report and signed by the Commissioner or his deputies.

2. The ...

Nevada Revised Statutes Section 665.045

Service and availability of copies of report; correction of conditions. Upon the preparation of the report as provided in NRS 665.035, the Commissioner shall forthwith serve a copy thereof on ...

Nevada Revised Statutes Section 665.075

Nature, review and disclosure of contents of report.

1. The report of examination made by an examiner of the Division of Financial Institutions is designed for use in the ...

Nevada Revised Statutes Section 665.086

Examination of records of holding company controlling depository institution; required action to maintain solvency or prevent failure of subsidiary. If the Commissioner finds that it is in the public interest ...

Nevada Revised Statutes Section 665.095

Certified copies of records as evidence. In all civil actions in the courts of this state wherein any of the records of the Commissioner are involved as evidence or otherwise, ...

Nevada Revised Statutes Section 665.105

Reports to Commissioner: General requirements.

1. Every bank shall make at least four reports each year to the Commissioner at the same times and substantially in the form of ...

Nevada Revised Statutes Section 665.115

Penalties for failure to make reports; collection of penalties by civil actions; disposition of money collected.

1. Every bank which fails to make and transmit or to publish any ...

Nevada Revised Statutes Section 665.125

Powers and duties concerning examinations.

1. The examiners of financial institutions shall verify all reports made to the Commissioner by the officers and directors of any banking corporation, as ...

Nevada Revised Statutes Section 665.130

Receipt and certification of reports; disclosure of information prohibited; exception. The Commissioner shall receive and place on file in his office all reports required by law and shall certify all ...

Nevada Revised Statutes Section 665.133

Disclosure of reports and other information obtained from depository institutions; use of information.

1. The records and information described in NRS 665.130 may be disclosed to:

(a) An ...

Nevada Revised Statutes Section 665.135

Administration of oaths and summoning of witnesses for purposes of examination. In making the examinations required by this title, the Commissioner and any appointed examiner may administer oaths to examine ...

Nevada Revised Statutes Section 665.145

Official communications. Each official communication directed by the Commissioner or any examiner of financial institutions to any bank, or to any officer or manager thereof, relating to an examination or ...

Nevada Revised Statutes Section 665.155

Appraisal of assets of doubtful value.

1. If any assets of a bank are of a doubtful or disputed value, the Commissioner may have an appraisal of such assets ...

Nevada Revised Statutes Section 665.165

Retention of records and other information; adoption and review of regulations; reproduction of original authorized.

1. Every state bank shall retain its business records for such periods as are ...

Nevada Revised Statutes Section 665.175

Removal of officer, director, manager or employee. The Commissioner may require the immediate removal from office of any officer, director, manager or employee of any bank doing business under this ...

Nevada Revised Statutes Section 666A.010

Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 666A.020 to 666A.070, inclusive, have the meanings ascribed to them in those ...

Nevada Revised Statutes Section 666A.020

“Agency” defined. “Agency” means an office or other place of business of a foreign bank located in this state at which credit balances are maintained incidental to or arising out ...

Nevada Revised Statutes Section 666A.030

“Branch” defined. “Branch” of a foreign bank means an office or other place of business located in this state at which deposits are received. ...

Nevada Revised Statutes Section 666A.040

“Federal” defined. “Federal” when used to modify the word “agency” or “branch” or the term “representative office” means licensed by the Comptroller of the Currency. ...

Nevada Revised Statutes Section 666A.050

“Foreign” defined. “Foreign” means organized under the law of a foreign country or a colony, dependency or possession of a foreign country, or of Puerto Rico, Guam, American Samoa, the ...

Nevada Revised Statutes Section 666A.060

“Representative office” defined. “Representative office” means an office of a foreign bank which is not a federal or state branch or agency or a subsidiary of a foreign bank. ...

Nevada Revised Statutes Section 666A.070

“State” defined. “State” when used to modify the word “agency” or “branch” or the term “representative office” means licensed pursuant to the provisions of this chapter. ...

Nevada Revised Statutes Section 666A.080

State branch or agency: License required; exemptions from licensing.

1. Except as otherwise provided in subsection 2, a foreign bank shall not transact business in this state except at ...

Nevada Revised Statutes Section 666A.090

State branch or agency: Application and fee for license; limitation on licensing.

1. A foreign bank which desires to obtain a license under this chapter to establish and maintain ...

Nevada Revised Statutes Section 666A.100

State branch or agency: Amendment of license.

1. A foreign bank which is licensed to establish and maintain a state branch or agency shall secure an amended license if ...

Nevada Revised Statutes Section 666A.110

State representative office: License required; exemption from licensing.

1. No foreign bank may establish or maintain a state representative office unless the foreign bank is licensed by the Commissioner ...

Nevada Revised Statutes Section 666A.120

State representative office: Application and fees for license; appointment of Commissioner as agent for service of process.

1. The application for a license to establish and maintain a state ...

Nevada Revised Statutes Section 666A.130

State representative office: Prerequisites to issuance of license; issuance and contents of license.

1. A foreign bank making an application for a license to establish and maintain a state ...

Nevada Revised Statutes Section 666A.140

Posting of license; transfer or assignment of license prohibited.

1. Each foreign bank which is licensed to establish and maintain a state branch, agency or representative office shall post ...

Nevada Revised Statutes Section 666A.150

State branch or agency: Powers, duties, limitations and restrictions.

1. Except as otherwise provided in this chapter or in regulations adopted by the Commissioner, a foreign bank operating at ...

Nevada Revised Statutes Section 666A.160

State branch or agency: Engaging in fiduciary activities.

1. No foreign bank which is licensed to establish and maintain a state branch or agency may engage in fiduciary activities ...

Nevada Revised Statutes Section 666A.170

State branch or agency: Acting as agent.

1. A state branch of a foreign bank licensed under this chapter may receive deposits and renew time deposits, and a state ...

Nevada Revised Statutes Section 666A.180

State branch or agency: Maintenance of registered office and registered agent. A foreign bank which is licensed to establish and maintain a state branch or agency shall have and continuously ...

Nevada Revised Statutes Section 666A.190

State branch or agency: Change of registered office or registered agent.

1. A foreign bank which is licensed to establish and maintain a state branch or agency may from ...

Nevada Revised Statutes Section 666A.200

State branch or agency: Amendment of articles of incorporation. If the articles of incorporation of a foreign bank which is licensed to maintain a state branch or agency are amended, ...

Nevada Revised Statutes Section 666A.210

State branch or agency: Segregation of assets; priority of creditors.

1. Each foreign bank which is licensed to establish and maintain a state branch or agency in this state ...

Nevada Revised Statutes Section 666A.220

State branch or agency: Notification regarding insurance of deposits and credit balances. Each foreign bank which is licensed to establish and maintain a state branch or agency shall, in a ...

Nevada Revised Statutes Section 666A.230

State branch or agency: Limitations on payment of interest on deposits. A foreign bank which is licensed to establish and maintain a state branch or agency is subject to the ...

Nevada Revised Statutes Section 666A.240

State branch or agency: Deposit of assets.

1. Each foreign bank which is licensed to establish and maintain a state branch or agency shall keep on deposit, in accordance ...

Nevada Revised Statutes Section 666A.250

State branch or agency: Maintenance of assets.

1. Each foreign bank which is licensed to establish and maintain a state branch or agency shall hold in this state currency, ...

Nevada Revised Statutes Section 666A.260

State branch: Maintenance of reserve against deposits.

1. Except as otherwise provided in subsection 2, a foreign bank which is licensed to establish and maintain a state branch shall ...

Nevada Revised Statutes Section 666A.270

State representative office: Authorized activities; approval of additional activities.

1. A foreign bank which is licensed to establish and maintain a state representative office may, subject to such regulations ...

Nevada Revised Statutes Section 666A.280

Maintenance of books, accounts and other records. Each foreign bank which is licensed to establish and maintain a state branch, agency or representative office shall make, keep and preserve at ...

Nevada Revised Statutes Section 666A.290

Notification of merger or acquisition of control. A foreign bank which is licensed to establish and maintain a state branch, agency or representative office shall file with the Commissioner a ...

Nevada Revised Statutes Section 666A.300

Relocation of office.

1. No foreign bank which is licensed to establish and maintain a state branch, agency or representative office may relocate the office unless the Commissioner first ...

Nevada Revised Statutes Section 666A.310

Closure of office.

1. No foreign bank which is licensed to establish and maintain a state branch, agency or representative office may close that office without obtaining the prior ...

Nevada Revised Statutes Section 666A.320

Authority of Commissioner.

1. The Commissioner has all of the powers granted to him by the laws of this state to the same extent and in the same manner ...

Nevada Revised Statutes Section 666A.330

Examinations by Commissioner; fee for examinations.

1. A state branch, agency or representative office is subject to examination by the Commissioner to the same extent and in the same ...

Nevada Revised Statutes Section 666A.340

Filing of reports with Commissioner.

1. Each foreign bank which is licensed to establish and maintain a state branch, agency or representative office shall file with the Commissioner such ...

Nevada Revised Statutes Section 666A.350

State branch or agency: Authority and grounds for suspension or revocation of license. If, after notice and a hearing, the Commissioner finds any of the following with respect to a ...

Nevada Revised Statutes Section 666A.360

State branch or agency: Immediate suspension or revocation of license.

1. If the Commissioner finds that any of the factors set forth in NRS 666A.350 are true with respect ...

Nevada Revised Statutes Section 666A.370

State branch or agency: Seizure and liquidation of property and business.

1. If the Commissioner finds that any of the factors set forth in NRS 666A.350 are true with ...

Nevada Revised Statutes Section 666A.380

State representative office: Revocation of license. The Commissioner, after notice and opportunity for a hearing, may revoke a license to establish and maintain a state representative office if he finds ...

Nevada Revised Statutes Section 666A.390

Service of processes, notices and demands.

1. In the case of a foreign bank which is licensed to establish and maintain a state branch or agency, service of process ...

Nevada Revised Statutes Section 666A.400

Establishment of interstate branches in this state.

1. Except as otherwise provided in subsection 2, an out-of-state foreign bank may establish an interstate Nevada branch in the same manner, ...

Nevada Revised Statutes Section 666.001

Definitions. As used in this chapter, the words and terms defined in NRS 666.002 to 666.008, inclusive, have the meanings ascribed to them in those sections. ...

Nevada Revised Statutes Section 666.002

“Acquire” defined. “Acquire” means:

1. Acquire control;

2. Acquire all or substantially all assets;

3. Assume all liabilities for deposits; or

4. Establish a new institution. ...

Nevada Revised Statutes Section 666.003

“Control” defined. “Control” means the power, directly or indirectly, to:

1. Direct or exercise a controlling influence over the management or policies of a depository institution or the election ...

Nevada Revised Statutes Section 666.004

“De novo branch” defined. “De novo branch” means a branch of a depository institution which:

1. Is newly established by the depository institution as a branch; and

2. ...

Nevada Revised Statutes Section 666.005

“Holding company” defined. “Holding company” means a company:

1. Which directly or indirectly owns or controls 25 percent or more of the voting stock of a depository institution;

...

Nevada Revised Statutes Section 666.006

“Home state” defined. “Home state” means:

1. For a state chartered depository institution, the state that charters the institution;

2. For a federally chartered institution, the state where ...

Nevada Revised Statutes Section 666.007

“Host state” defined. “Host state” means:

1. For a depository institution, a state, other than the institution’s home state, where the institution maintains or seeks to establish a branch; ...

Nevada Revised Statutes Section 666.008

“Out-of-state” defined. “Out-of-state” when used to modify the term “bank,” “depository institution” or “holding company” signifies that its home state is not Nevada. ...

Nevada Revised Statutes Section 666.015

Nevada depository institution: Merger or consolidation with or transfer of assets and liabilities to similar institution, out-of-state depository institution or out-of-state holding company.

1. With the approval of the ...

Nevada Revised Statutes Section 666.020

Powers of Nevada depository institution or its holding company after acquisition of or merger with out-of-state depository institution; applicable laws; powers of Commissioner.

1. A Nevada depository institution or ...

Nevada Revised Statutes Section 666.025

Effect of consolidation of banks.

1. When an agreement of consolidation is made and a certified copy thereof is filed with the Secretary of State, together with a certified ...

Nevada Revised Statutes Section 666.035

Consolidation, conversion or merger of state bank with national bank: Minimum vote required; approval by Commissioner; applicable law; determination of value of shares or interests for dissenting stockholders.

1. ...

Nevada Revised Statutes Section 666.045

Merger or consolidation of national bank with state bank; incorporation of national bank as state bank.

1. Any national bank doing business in this state may, with the approval ...

Nevada Revised Statutes Section 666.055

Fiduciary powers and liabilities of banks merging or transferring assets and liabilities. When any bank organized under the laws of this state or Acts of Congress, and doing business in ...

Nevada Revised Statutes Section 666.065

Definitions. As used in NRS 666.065 to 666.215, inclusive, unless the context otherwise requires:

1. To “acquire” a bank means to obtain control of an existing bank or to ...

Nevada Revised Statutes Section 666.070

Applicability. The provisions of NRS 666.065 to 666.215, inclusive, do not apply to a bank holding company which:

1. Owns only national banks within this state until the holding ...

Nevada Revised Statutes Section 666.075

Rebuttable presumption against control of bank; certain legal relationships and companies deemed not to be bank holding companies.

1. There is a rebuttable presumption that a company which directly ...

Nevada Revised Statutes Section 666.085

Regulations; reports to determine compliance.

1. The Commissioner may adopt such regulations as may be necessary to carry out the provisions of NRS 666.065 to 666.215, inclusive.

2. ...

Nevada Revised Statutes Section 666.095

Annual registration reports required of bank holding companies. Each bank holding company doing business in this state, directly or through a subsidiary bank, shall file an annual registration report with ...

Nevada Revised Statutes Section 666.105

Examinations of bank holding companies by Commissioner.

1. Each year the Commissioner shall make a thorough examination of and into the affairs of every bank holding company and every ...

Nevada Revised Statutes Section 666.115

Formation of bank holding company: Approval by Commissioner; limitation; application for approval; acceptance of federal registration.

1. Except as otherwise provided in subsection 4, a person who desires to ...

Nevada Revised Statutes Section 666.125

Approval required before acquisition of bank; application; considerations.

1. A bank holding company must receive the approval of the Commissioner before acquiring a bank.

2. The application for ...

Nevada Revised Statutes Section 666.135

Approval of transfer of control required; grounds for disapproval.

1. Any transfer of stock or trust certificates of a bank holding company by sale, gift or otherwise, which will ...

Nevada Revised Statutes Section 666.145

Order requiring removal of director, officer or employee; petition by person affected; injunction prohibiting participation in affairs of company.

1. If the Commissioner determines that a director, officer or ...

Nevada Revised Statutes Section 666.155

Failure to remove person pursuant to order conclusive evidence of negligence. If the board of directors of a bank holding company neglects or refuses to remove a person pursuant to ...

Nevada Revised Statutes Section 666.165

Charges against company: Grounds; notice; hearing.

1. If the Commissioner has reasonable cause to believe that a bank holding company:

(a) Is engaging, has engaged or is about ...

Nevada Revised Statutes Section 666.175

Issuance of order to cease and desist; corrective action; effectiveness of order.

1. If a representative of the bank holding company does not appear at the hearing, the company ...

Nevada Revised Statutes Section 666.185

Temporary orders: Grounds; issuance; effectiveness.

1. If the Commissioner determines that the existing or threatened activity specified in a notice of charges is likely to:

(a) Cause insolvency ...

Nevada Revised Statutes Section 666.195

Temporary orders: Application for injunction limiting or setting aside order; application for injunction prohibiting violation.

1. Within 10 days after a bank holding company has been served with a ...

Nevada Revised Statutes Section 666.205

Injunctions; civil penalty; divestiture by holding company in another state.

1. The Commissioner may apply to the district court for an order compelling compliance with any provision of NRS ...

Nevada Revised Statutes Section 666.215

Penalties.

1. A person who willfully violates any provision of NRS 666.145 is guilty of a category D felony and shall be punished as provided in NRS 193.130.

...

Nevada Revised Statutes Section 666.305

Approval of Commissioner required before taking certain actions affecting depository institution or holding company whose home state is Nevada; penalty; injunctive relief.

1. Unless the Commissioner gives prior written ...

Nevada Revised Statutes Section 666.315

Application for approval required by NRS 666.305; contents; fee and expenses; review of application; issuance of written decision; grounds for disapproval.

1. An application filed with the Commissioner for ...

Nevada Revised Statutes Section 666.325

Examination, supervision and regulation of interstate operations.

1. The Commissioner may examine and supervise any out-of-state depository institution or holding company which has been authorized to do business in ...

Nevada Revised Statutes Section 666.355

Authority of Commissioner to authorize or require acquisition of failing depository institution or failing holding company which controls depository institution. If the Commissioner considers it necessary to protect depositors, creditors ...

Nevada Revised Statutes Section 666.365

Rights, powers and privileges of acquired, acquiring or resulting depository institution or holding company. Any depository institution or holding company which is acquired pursuant to NRS 666.355, the institution which ...

Nevada Revised Statutes Section 666.375

Conditions for authorizing or requiring certain transactions involving out-of-state depository institution or out-of-state holding company. The Commissioner may not authorize or require any transaction pursuant to NRS 666.355 involving an ...

Nevada Revised Statutes Section 666.390

Authority and conditions for depository institution to act as agent for affiliated depository institution.

1. A depository institution may, at its main office or at any branch, act as ...

Nevada Revised Statutes Section 666.400

Powers of out-of-state depository institution or its holding company after acquisition of or merger with Nevada depository institution or its holding company; applicable laws; powers of Commissioner.

1. Subject ...

Nevada Revised Statutes Section 666.405

Acquisition of Nevada depository institution for conversion to branch of out-of-state depository institution or out-of-state holding company; restrictions; exceptions.

1. Except as otherwise provided in this section, an out-of-state ...

Nevada Revised Statutes Section 666.410

Establishment or acquisition of Nevada branch by out-of-state depository institution or out-of-state holding company. An out-of-state depository institution without a branch in Nevada, or an out-of-state holding company without a ...

Nevada Revised Statutes Section 666.415

Waiver of federal limits on concentration of deposits. To the extent authorized by federal law, the Commissioner may waive any applicable federal limit on concentration of deposits if he finds ...

Nevada Revised Statutes Section 666.420

Reports by out-of-state depository institution or holding company. The Commissioner may, by regulation, require an out-of-state depository institution or holding company to submit such reports or permit the submission of ...

Nevada Revised Statutes Section 667.015

Procedure; applicable law; power to sell and transfer assets.

1. Except as otherwise provided in this section, a bank may go into voluntary liquidation pursuant to the provisions of ...

Nevada Revised Statutes Section 667.035

Federal Deposit Insurance Corporation may act as receiver or liquidator of closed bank having insured deposits; no bond required.

1. After July 1, 1971, the Federal Deposit Insurance Corporation ...

Nevada Revised Statutes Section 667.045

Acceptance of appointment as receiver or liquidator; possession of and title to assets, business and property vests in Federal Deposit Insurance Corporation. Upon the acceptance of the appointment as receiver ...

Nevada Revised Statutes Section 667.055

Enforcement of individual liability of stockholders or members and directors or managers of closed bank. Among its other powers, the Federal Deposit Insurance Corporation, in the performance of its powers ...

Nevada Revised Statutes Section 667.065

Payment of insured deposits; subrogation.

1. When any state bank has been closed as provided in NRS 667.035, and the Federal Deposit Insurance Corporation pays, or makes available for ...

Nevada Revised Statutes Section 667.075

Loans to closed banks by Federal Deposit Insurance Corporation; sale of assets to it.

1. Any state bank which is, or may hereafter be, closed on account of inability ...

Nevada Revised Statutes Section 667.085

Commissioner to furnish copies of examinations and reports to Federal Deposit Insurance Corporation.

1. The Commissioner shall furnish to the Federal Deposit Insurance Corporation, or to any official or ...

Nevada Revised Statutes Section 667.095

Deposit of books, papers and records with Commissioner upon final liquidation. All books, papers and records of a bank which has been finally liquidated must be deposited by the receiver ...

Nevada Revised Statutes Section 667.105

Destruction of records of liquidated insolvent banks.

1. Except as otherwise provided in subsections 2 and 3, after the expiration of 10 years from the filing by the Commissioner ...

Nevada Revised Statutes Section 667.115

Termination of trusteeship under security instruments upon insolvency; appointment of successor trustee by petition to district court or pursuant to security instrument.

1. Except as otherwise provided in subsection ...

Nevada Revised Statutes Section 667.125

Petition for appointment of successor trustee by district court: Order directing service of notice. In all cases to which subsection 1 of NRS 667.115 is applicable, the district court for ...

Nevada Revised Statutes Section 667.135

Petition for appointment of successor trustee: Publication and contents of notice. Such notice shall be published in the manner required by the Nevada Rules of Civil Procedure for service of ...

Nevada Revised Statutes Section 667.145

Appointment of successor trustee when no objection made. If, upon the day fixed in the order and notice, no person appears and objects to the appointment of a substitute trustee, ...

Nevada Revised Statutes Section 667.155

Hearing on objections to appointment of successor trustee; appeal from order. If, upon the day fixed in the order and notice, objection is made to the appointment of a new ...

Nevada Revised Statutes Section 667.165

Recordation of order appointing successor trustee. The final order of appointment of any such new trustee upon its entry shall be recorded in the office of the county recorder in ...

Nevada Revised Statutes Section 667.175

Petition and order may relate to all instruments in which former trustee was named. The petition and the order appointing such new trustee may include, relate to and apply to ...

Nevada Revised Statutes Section 667.185

Provisions additional to other remedies. NRS 667.115 to 667.175, inclusive, are in addition to and not in substitution for any other remedy provided by law. ...

Nevada Revised Statutes Section 667.195

Validation of sales by liquidator under security instruments giving power of sale. If the Commissioner, the Federal Deposit Insurance Corporation or any liquidating agent appointed pursuant to the provisions of ...

Nevada Revised Statutes Section 667.205

Report of banks under liquidation: Contents; filing with Secretary of State; publication.

1. The Commissioner shall, on January 1 and July 1 of each year, file with the Secretary ...

Nevada Revised Statutes Section 667.215

Conditions under which banks may reopen. When the Commissioner or the Federal Deposit Insurance Corporation has taken possession of any bank, the bank may, with the consent of the Commissioner, ...

Nevada Revised Statutes Section 667.225

Conditions under which bank may reorganize before actual dissolution.

1. When any bank is authorized to dissolve and has taken the necessary steps to effect dissolution in accordance with ...

Nevada Revised Statutes Section 668.015

False or deceptive financial statements: Criminal penalty; liability for damages; removal from office. Every president, director, manager, cashier or other officer or employee of any bank who knowingly prepares, signs, ...

Nevada Revised Statutes Section 668.045

Receiving deposits in insolvent banks with knowledge of insolvency; unfair preference to creditor; penalty.

1. It is unlawful for a president, director, manager, cashier or other officer or employee ...

Nevada Revised Statutes Section 668.055

Embezzlement; willful misapplication of money; penalties. A president, director, manager, cashier, teller, clerk, officer or agent of any bank who embezzles, abstracts or willfully misapplies any money, funds, securities or ...

Nevada Revised Statutes Section 668.065

False oath or affirmation of officer, director, manager or employee; penalty. Every officer, director, manager or employee of a bank required by this title to take an oath or affirmation ...

Nevada Revised Statutes Section 668.075

Limitation on advertising or publishing statement of stock. A bank or an officer or manager of a bank shall not advertise in any manner or publish any statement of the ...

Nevada Revised Statutes Section 668.085

Unauthorized disclosure of confidential information; penalty. If any person fails to keep secret the facts and information obtained in the course of, or as a result of, an examination of ...

Nevada Revised Statutes Section 668.095

Penalties for making, aiding in making, or suppressing evidence of false or fraudulent report.

1. An examiner of financial institutions who knowingly and willfully makes any false or fraudulent ...

Nevada Revised Statutes Section 668.115

Violation constitutes misdemeanor unless otherwise specified. Where no other punishment is provided in this title, any person violating any of the provisions of this title is guilty of a misdemeanor. ...

Nevada Revised Statutes Section 669.010

Declaration of legislative intent. The Legislature finds as facts and determines that:

1. There exists in this state a need, for the protection of the public interest, to regulate ...

Nevada Revised Statutes Section 669.020

Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 669.029 to 669.070, inclusive, have the meanings ascribed to them in those ...

Nevada Revised Statutes Section 669.029

“Business of a trust company” and “trust company business” defined. “Business of a trust company” or “trust company business” means the holding out by a person, by advertising, solicitation or ...

Nevada Revised Statutes Section 669.040

“Court trust” defined. “Court trust” means a fiduciary relationship created by an appointment, order or decree of any court. ...

Nevada Revised Statutes Section 669.045

“Fiduciary” defined. “Fiduciary” means a trustee, executor, administrator, guardian of an estate, conservator, assignee for the benefit of creditors, receiver, depositary or person that receives on deposit money or property ...

Nevada Revised Statutes Section 669.050

“Private trust” defined. “Private trust” means a fiduciary relationship other than a court trust. ...

Nevada Revised Statutes Section 669.070

“Trust company” defined. “Trust company” means a corporation or limited-liability company licensed as provided in this chapter and engaged in a trust company business. ...

Nevada Revised Statutes Section 669.080

Applicability of chapter.

1. This chapter does not apply to a person who:

(a) Does business under the laws of this state, the United States or another state ...

Nevada Revised Statutes Section 669.090

Unlawful to engage in business of trust company without license. It is unlawful for any person to engage in the business of a trust company without complying with the provisions ...

Nevada Revised Statutes Section 669.095

Unlawful to use or advertise word “trust” as part of name; exceptions.

1. Except as otherwise provided in subsection 2, no person or organization formed and doing business under ...

Nevada Revised Statutes Section 669.100

Minimum stockholders’ equity required for organization and operation. No trust company may be organized or operated with a stockholders’ equity of less than $300,000, or in such greater amount as ...

Nevada Revised Statutes Section 669.110

Certain organizational structure required for domestic trust company; authority to do business in this state required for foreign trust company. An applicant for a license to conduct the business of ...

Nevada Revised Statutes Section 669.120

Certain provisions required in articles of incorporation or organization of domestic trust company; limitations on use of certain names by foreign trust company.

1. If a corporation or limited-liability ...

Nevada Revised Statutes Section 669.130

Unlawful for trust company to commence business without authorization of Commissioner. A trust company shall not transact business, except business that is incidental to its organization, until it is authorized ...

Nevada Revised Statutes Section 669.150

Application for license: Contents; fees.

1. An applicant must file an application for a license to transact trust company business with the Commissioner on forms prescribed by the Commissioner, ...

Nevada Revised Statutes Section 669.160

Investigation of applicant; rights of applicant upon denial of license; entry of final order; judicial review.

1. Within 60 days after the application for a license is filed, the ...

Nevada Revised Statutes Section 669.190

Payment of license fees; deposit in State Treasury.

1. The initial fee to be paid for a trust company license must be in proportion to the initial stockholders’ equity ...

Nevada Revised Statutes Section 669.200

Cancellation of license if trust company fails to open for business. If a proposed trust company fails to open for business within 6 months after the date the license was ...

Nevada Revised Statutes Section 669.210

Powers of licensed trust companies; banking business prohibited.

1. Each licensed trust company may:

(a) Act as trustee under any mortgage or bond of any person or of ...

Nevada Revised Statutes Section 669.220

Investments: General requirements.

1. A trust company:

(a) Shall keep all trust funds and investments separate from the assets of the trust company, and all investments made by ...

Nevada Revised Statutes Section 669.225

Investments: Trust company may invest in securities of and provide services to investment trust or investment company; trust company may deposit money held in trust with affiliate.

1. In ...

Nevada Revised Statutes Section 669.230

Discontinuing business. Whenever any trust company desires to discontinue its trust business, it shall furnish to the Commissioner satisfactory evidence of its release and discharge from all the obligations and ...

Nevada Revised Statutes Section 669.240

Fidelity bonds; insurance.

1. The directors or managers of a trust company shall require good and sufficient fidelity bonds in the amount of $25,000 or more on all active ...

Nevada Revised Statutes Section 669.250

Fees for examination; frequency of examination.

1. For each examination of a trust company’s books and records required or authorized under this chapter, the Commissioner shall charge and collect ...

Nevada Revised Statutes Section 669.260

Applicability of other provisions of title. In addition to other provisions of this title which are applicable to this title as a whole or specifically made applicable to trust companies, ...

Nevada Revised Statutes Section 669.270

Regulations of Commissioner. The Commissioner may adopt such regulations as may be necessary to carry out the purposes and provisions of this chapter. ...

Nevada Revised Statutes Section 669.280

Authority of Commissioner to take disciplinary action and to close and liquidate business.

1. The violation of any of the provisions of this chapter by the officers or directors, ...

Nevada Revised Statutes Section 669.282

Authority of Commissioner to seize property, business and assets; duties of Commissioner upon seizure.

1. If the Commissioner ascertains by examination or otherwise that the capital or assets of ...

Nevada Revised Statutes Section 669.284

Persons entitled to remedy conditions leading to seizure; effect of failure to remedy; receivership and liquidation of assets.

1. The directors or officers of a corporation or the managers ...

Nevada Revised Statutes Section 669.290

Willful neglect to perform duties imposed by law or failure to conform to material lawful requirement made by Commissioner unlawful; penalty. Each officer, director, manager, member, employee or agent of ...

Nevada Revised Statutes Section 669.300

Violation of chapter constitutes gross misdemeanor unless otherwise specified. Where no other punishment is otherwise provided by law, any person violating any provision of this chapter is guilty of a ...

Nevada Revised Statutes Section 670A.010

Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 670A.020 to 670A.050, inclusive, have the meanings ascribed to them in those ...

Nevada Revised Statutes Section 670A.020

“Board of directors” defined. “Board of directors” means the board of directors of a corporation created under this chapter. ...

Nevada Revised Statutes Section 670A.030

“Corporation” defined. “Corporation” means a Nevada corporation for economic revitalization and diversification created under this chapter. ...

Nevada Revised Statutes Section 670A.040

“Financial institution” defined. “Financial institution” means any banking corporation, credit union or trust company, savings and loan association, insurance company or related corporation, partnership, foundation or other institution engaged primarily ...

Nevada Revised Statutes Section 670A.050

“Loan limit” defined. “Loan limit” means the maximum amount permitted to be outstanding for any member at one time on loans by the member to a corporation as determined under ...

Nevada Revised Statutes Section 670A.060

Regulations. The Commissioner shall adopt such regulations as may be necessary to carry out the purposes and provisions of this chapter. ...

Nevada Revised Statutes Section 670A.070

Formation. Five or more persons, a majority of whom are residents of this state, may create a corporation for economic revitalization and diversification by filing articles of incorporation in the ...

Nevada Revised Statutes Section 670A.080

Articles of incorporation: Contents. The articles of incorporation of the corporation must contain:

1. The name of the corporation, which must include the words “corporation for economic revitalization and ...

Nevada Revised Statutes Section 670A.090

Articles of incorporation: Approval of Commissioner prerequisite to filing with Secretary of State. Before the articles of incorporation or any amendment to them are filed with the Secretary of State ...

Nevada Revised Statutes Section 670A.100

Articles of incorporation: Filing. The articles of incorporation of the corporation must be in writing, subscribed by or on behalf of each of the incorporators and acknowledged by each of ...

Nevada Revised Statutes Section 670A.110

Articles of incorporation: Prerequisites to authorization to commence business. When the articles of incorporation have been approved by the Commissioner and filed in the Office of the Secretary of State ...

Nevada Revised Statutes Section 670A.120

Articles of incorporation: Amendment.

1. The articles of incorporation may be amended by the affirmative vote of stockholders representing not less than two-thirds of the issued and outstanding stock ...

Nevada Revised Statutes Section 670A.130

License to conduct business: Requirement; form; fee. A corporation for economic revitalization and diversification shall obtain a license from the Commissioner before conducting any business. The application for the license ...

Nevada Revised Statutes Section 670A.140

First meeting of corporation: Notice; duties of incorporators; quorum.

1. The first meeting of the corporation must be called by a notice signed by three or more of the ...

Nevada Revised Statutes Section 670A.150

Powers of corporation. In furtherance of its purposes and in addition to the powers conferred on business corporations by law, the corporation may, subject to the restrictions and limitations contained ...

Nevada Revised Statutes Section 670A.160

Corporation to be operated in manner consistent with State Plan for Economic Development. The purposes, powers and operation of the corporation must be effectuated, exercised and conducted in a manner ...

Nevada Revised Statutes Section 670A.170

General powers of stockholders of corporation. The stockholders of the corporation may:

1. Determine the number of and elect directors as provided in NRS 670A.180.

2. Make, amend ...

Nevada Revised Statutes Section 670A.180

Officers and board of directors to manage corporation; number, powers, election and terms of directors; vacancies; responsibility for losses.

1. The business and affairs of the corporation must be ...

Nevada Revised Statutes Section 670A.190

Eligibility for membership in corporation; membership effective upon acceptance by board of directors. Any bank, savings and loan association, thrift company or credit union licensed under this title or title ...

Nevada Revised Statutes Section 670A.200

Members required to loan money to corporation; limits.

1. Each member shall lend money to the corporation as and when called upon by it to do so, but the ...

Nevada Revised Statutes Section 670A.210

Calls for money to be prorated. All calls for money which members are committed to lend to the corporation must be prorated by the corporation among the members in the ...

Nevada Revised Statutes Section 670A.220

Withdrawal from membership. Upon 6 months’ written notice to the board of directors, a member of the corporation may withdraw from membership, and, after the date of the withdrawal, the ...

Nevada Revised Statutes Section 670A.230

Stock of corporation: Minimum required to transact business; acquisition.

1. The stock of the corporation must be 20,000 shares of no par value, which must be issued for $100 ...

Nevada Revised Statutes Section 670A.240

Required amount of earned surplus; limits on obligations; restrictions on deposits and loans.

1. The corporation shall set apart as an earned surplus all of its net earnings in ...

Nevada Revised Statutes Section 670A.250

License fees.

1. Every corporation organized and engaged in business under the provisions of this chapter shall pay an annual state license fee of $100.

2. The county ...

Nevada Revised Statutes Section 670A.260

Examination by Commissioner; annual reports by corporations; costs of examination; authority of Commissioner.

1. The Commissioner shall examine the corporation as often as he deems necessary.

2. The ...

Nevada Revised Statutes Section 670A.270

Credit of state not to be pledged. Under no circumstances may the credit of the State be pledged to any corporation organized under the provisions of this chapter. ...

Nevada Revised Statutes Section 670A.280

Tax exemptions, credits and privileges granted to corporation. Any tax exemptions, tax credits or tax privileges granted to banks, savings and loan associations, trust companies and other financial institutions by ...

Nevada Revised Statutes Section 670A.290

Status of corporation as state development company under federal legislation. Any corporation organized under the provisions of this chapter is a state development company, as defined in the Small Business ...

Nevada Revised Statutes Section 670A.300

Dissolution of corporation. A corporation may dissolve upon the affirmative vote of stockholders representing not less than two-thirds of the issued and outstanding stock. ...

Nevada Revised Statutes Section 670.010

Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 670.020 to 670.050, inclusive, have the meanings ascribed to them in those ...

Nevada Revised Statutes Section 670.020

“Board of directors” defined. “Board of directors” means the board of directors of a corporation created under this chapter. ...

Nevada Revised Statutes Section 670.030

“Corporation” defined. “Corporation” means a Nevada development corporation created under this chapter. ...

Nevada Revised Statutes Section 670.040

“Financial institution” defined. “Financial institution” means any banking corporation, credit union or trust company, savings and loan association, insurance company or related corporation, partnership, foundation or other institution engaged primarily ...

Nevada Revised Statutes Section 670.050

“Loan limit” defined. “Loan limit” means the maximum amount permitted to be outstanding for any member at one time on loans by such member to a corporation as determined under ...

Nevada Revised Statutes Section 670.067

Regulations. The Commissioner shall adopt such regulations as may be necessary to carry out the purposes and provisions of this chapter. ...

Nevada Revised Statutes Section 670.070

Formation. Five or more persons, a majority of whom are residents of this state, may create a development corporation by filing articles of incorporation in the office of the Secretary ...

Nevada Revised Statutes Section 670.075

Minimum stockholders’ equity required. The stockholders’ equity of a development corporation must not be less than $500,000. ...

Nevada Revised Statutes Section 670.080

Articles of incorporation: Contents. The articles of incorporation of the corporation must contain:

1. The name of the corporation, which must include the words “development corporation.”

2. The ...

Nevada Revised Statutes Section 670.085

Articles of incorporation: Approval of Commissioner prerequisite to filing with Secretary of State. Before the articles of incorporation or any amendment to them are filed with the Secretary of State ...

Nevada Revised Statutes Section 670.090

Articles of incorporation: Filing. The articles of incorporation of the corporation shall be in writing, subscribed by or on behalf of each of the incorporators and acknowledged by each of ...

Nevada Revised Statutes Section 670.100

Articles of incorporation: Prerequisites to authorization to commence business. When the articles of incorporation have been approved by the Commissioner and filed in the Office of the Secretary of State ...

Nevada Revised Statutes Section 670.110

Articles of incorporation: Amendment.

1. The articles of incorporation may be amended by the affirmative vote of stockholders representing not less than two-thirds of the issued and outstanding stock ...

Nevada Revised Statutes Section 670.115

License to conduct business: Requirement; form; fee.

1. A development corporation shall obtain a license from the Commissioner before conducting any business. The application for the license must be ...

Nevada Revised Statutes Section 670.120

First meeting of corporation: Notice; duties of incorporators; quorum.

1. The first meeting of the corporation shall be called by a notice signed by three or more of the ...

Nevada Revised Statutes Section 670.130

Powers of corporation. In furtherance of its purposes and in addition to the powers conferred on business corporations by law, the corporation has, subject to the restrictions and limitations contained ...

Nevada Revised Statutes Section 670.155

Exercise of powers of corporation for economic revitalization and diversification: Requirements. Any corporation organized under the provisions of this chapter may exercise the powers of a corporation for economic revitalization ...

Nevada Revised Statutes Section 670.180

General powers of stockholders of corporation. The stockholders of the corporation have the following powers:

1. To determine the number of and elect directors as provided in NRS 670.200.

Nevada Revised Statutes Section 670.200

Officers and board of directors to manage corporation; number, powers, election and terms of directors; vacancies; responsibility for losses.

1. The business and affairs of the corporation must be ...

Nevada Revised Statutes Section 670.220

Receipt of money on deposit prohibited. The corporation shall not receive money on deposit. ...

Nevada Revised Statutes Section 670.230

Fiscal year. Corporations organized under this chapter shall adopt the calendar year as their fiscal year. ...

Nevada Revised Statutes Section 670.240

Licenses: Expiration; renewal; reinstatement; fees.

1. A license issued pursuant to this chapter expires on December 31 of each year unless renewed by the corporation through the payment, on ...

Nevada Revised Statutes Section 670.250

Examination by Commissioner; annual reports by corporations; costs of examination; authority of Commissioner.

1. The Commissioner shall examine the corporation as often as he deems necessary.

2. The ...

Nevada Revised Statutes Section 670.260

Credit of state not to be pledged. Under no circumstances shall the credit of the State be pledged to any corporation organized under the provisions of this chapter. ...

Nevada Revised Statutes Section 670.270

Tax exemptions, credits and privileges granted to corporation. Any tax exemptions, tax credits or tax privileges granted to banks, savings and loan associations, trust companies and other financial institutions by ...

Nevada Revised Statutes Section 670.280

Status of corporation as state development company under federal legislation. Any corporation organized under the provisions of this chapter is a state development company, as defined in the Small Business ...

Nevada Revised Statutes Section 670.290

Duration of corporation. The period of existence of a corporation is 50 years, except that the stockholders may dissolve the corporation before the expiration of that period as provided in ...

Nevada Revised Statutes Section 670.300

Dissolution of corporation. A corporation may dissolve upon the affirmative vote of stockholders representing not less than two-thirds of the issued and outstanding stock. ...

Nevada Revised Statutes Section 670.310

Deposit of money collected pursuant to provisions of chapter. Except as otherwise provided in NRS 670.115, all money collected pursuant to the provisions of this chapter must be deposited in ...

Nevada Revised Statutes Section 671.010

Definitions. As used in this chapter, unless the context otherwise requires:

1. “Check” means any check, draft, money order or other instrument used for the transmission or payment of ...

Nevada Revised Statutes Section 671.020

Applicability of chapter.

1. This chapter does not apply to any:

(a) Bank, its parent or holding company or any subsidiary thereof, trust company, savings bank, savings and ...

Nevada Revised Statutes Section 671.030

Regulations. The Commissioner may adopt such reasonable regulations as may be necessary or appropriate for the administration of this chapter. ...

Nevada Revised Statutes Section 671.040

License required.

1. A person shall not engage in the business of selling or issuing checks or of receiving for transmission or transmitting money or credits unless he is ...

Nevada Revised Statutes Section 671.050

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, ...

Nevada Revised Statutes Section 671.060

Investigation of applicant; issuance of license.

1. Upon the filing of the application, payment of the fees and approval of the surety bond or securities, the Commissioner shall investigate ...

Nevada Revised Statutes Section 671.070

Expiration and renewal of license; fees.

1. A license issued pursuant to this chapter expires on June 30 of the year following its issuance and thereafter expires on June ...

Nevada Revised Statutes Section 671.080

License not transferable or assignable; business must be conducted at specified location by agent of licensee; changes in location, name or operation of business.

1. A license issued under ...

Nevada Revised Statutes Section 671.090

Agents of licensees: When license required. A separate license is not required for an agent of a licensee unless the agent directly sells or delivers the licensee’s checks over the ...

Nevada Revised Statutes Section 671.100

Bond: Amounts; form; notice to Commissioner; replenishment; liability of surety; increase in amount; cancellation or alteration.

1. Except as provided in NRS 671.110, each licensee shall have in force ...

Nevada Revised Statutes Section 671.110

Deposits in lieu of bond.

1. In lieu of any surety bond, or any portion of the principal sum thereof as required by this chapter, a licensee may deposit ...

Nevada Revised Statutes Section 671.120

Examination of licensee by Commissioner; entry upon premises and access to documents; fee; audit in lieu of examination.

1. Except as provided in subsection 4, once each year the ...

Nevada Revised Statutes Section 671.140

Schedule of rates: Posting; excess fees prohibited. In every place of business licensed or covered by a license under this chapter, there shall be conspicuously posted at all times a ...

Nevada Revised Statutes Section 671.150

Deposit of receipts; commingling prohibited; deposit if license suspended or terminated; assets must cover liabilities.

1. All money or credits received by an agent of a licensee from the ...

Nevada Revised Statutes Section 671.160

Discontinuance of licensee’s business: Notice; surrender of license; order of Commissioner; possession of business and property by Commissioner; appointment of receiver.

1. Within 5 days after a discontinuance of ...

Nevada Revised Statutes Section 671.170

Investigations and hearings; confidential communications.

1. The Commissioner may conduct any necessary investigations and hearings to determine whether any licensee or other person has violated any of the provisions ...

Nevada Revised Statutes Section 671.180

Suspension, revocation or denial of renewal of license: Notice; hearing; order; grounds; judicial review.

1. If the Commissioner has reason to believe that grounds exist for the suspension, revocation ...

Nevada Revised Statutes Section 671.190

Unlawful acts; penalty; other remedies.

1. Any person who:

(a) Violates any provision of this chapter, or any regulation adopted or order issued by the Commissioner pursuant to ...



Last modified: February 26, 2006