Requirements for issuance of certificate. The Commissioner shall issue a certificate of authority to a foreign credit union if he is satisfied that:
1. The members of the credit union to be served in this state are adequately protected by any form of security which is comparable to that required of credit unions organized under the provisions of this chapter.
2. The officer who supervises the credit union in the state in which it was organized has authorized it to do business in Nevada and agrees to furnish, upon request, copies of reports relating to the credit union.
3. The members to be served in this state have a need for the service and adequate service is not available through existing credit unions.
4. A resident agent has been designated.
5. The state in which the credit union was organized issues comparable authorization to credit unions organized under the provisions of this chapter.
Last modified: February 26, 2006