Nev. Rev. Stat. § 676A.540 — NV Code / Title 55 / Chapter 676A / Section 676A.540
Agreement: Contents; required provisions; prohibited provisions; provisions void if contrary to certain requirements
Status: in_force

1. An agreement must: (a) Be in a record; (b) Be dated and signed by the provider and the individual; (c) Include the name of the individual and the address where the individual resides; (d) Include the name, business address and telephone number of the provider; (e) Be provided to the individual before the individual assents to the agreement; and (f) Disclose: (1) The services to be provided, including, without limitation, whether the provider will provide credit counseling, develop and implement a debt-management plan, provide debt settlement services or provide any combination of these services; (2) The amount, or method of determining the amount, of all fees, individually itemized, to be paid by the individual; (3) If the agreement contemplates that the provider will develop and implement a debt-management plan or provide debt settlement services, the schedule of payments to be made by or on behalf of the individual, including the amount of each payment, the date on which each payment is due and an estimate of the date of the final payment; (4) If the agreement contemplates that the provider will develop and implement a debt-management plan and a plan provides for regular periodic payments to creditors: (I) Each creditor of the individual to which payment will be made, the amount owed to each creditor and any concessions the provider reasonably believes each creditor will offer; (II) The schedule of expected payments to each creditor, including the amount of each payment and the date on which it will be made; and (III) Each creditor that the provider believes will not participate in the plan and to which the provider will not direct payment; (5) If the agreement contemplates that the provider will develop and implement a debt-management plan or provide debt settlement services, how the provider will comply with its obligations under subsection 1 of NRS 676A.630 ; (6) That the provider may terminate the agreement for good cause, upon return of unexpended money of the individual; (7) That the individual may cancel the agreement as provided in NRS 676A.550 ; (8) That the individual may terminate a plan at any time without incurring any liability as provided in subparagraph (4) of paragraph (a) of subsection 4; (9) That the individual may contact the Commissioner with any questions or complaints regarding the provider; and (10) The address, telephone number and Internet address of the website of the Commissioner.

2. For purposes of paragraph (e) of subsection 1, delivery of an electronic record occurs when it is made available in a format in which the individual may retrieve, save and print it and the individual is notified that it is available.

3. If the Commissioner supplies the provider with any information required under subparagraph 10 of paragraph (f) of subsection 1, the provider may comply with that requirement only by disclosing the information supplied by the Commissioner.

4. An agreement must provide that: (a) The individual has a right to terminate the agreement at any time, without penalty or obligation or the payment of any termination fee, by giving the provider written or electronic notice, in which event: (1) The provider will refund all unexpended money that the provider or its agent has received from or on behalf of the individual for the reduction or satisfaction of the individual's debt; (2) With respect to an agreement which contemplates that creditors will settle debts for less than the principal amount of the debt, the provider will refund 65 percent of any portion of the set-up fee that has not been credited against the settlement fee; (3) All powers of attorney granted by the individual to the provider are revoked and ineffective; and (4) The provider will cease charging a monthly service fee, other than a monthly service fee which became due before the termination of the agreement; (b) The individual authorizes any bank in which the provider or its agent has established a trust account to disclose to the Commissioner any financial records relating to the trust account; (c) The provider will notify the individual within 5 days after learning of a creditor's final decision to reject or withdraw from a plan and that this notice will include: (1) The identity of the creditor; and (2) The right of the individual to modify or terminate the agreement; and (d) The individual may terminate a plan at any time without incurring any liability.

5. If an agreement contemplates that the provider will provide debt settlement services, the agreement may confer on a provider a power of attorney to settle the individual's debt for not more than 50 percent of the outstanding amount of the debt. The agreement may not confer a power of attorney to settle a debt for more than 50 percent of that amount, but may confer a power of attorney to negotiate with creditors of the individual on behalf of the individual. The agreement must provide that the provider will obtain the assent of the individual after a creditor has assented to a settlement for more than 50 percent of the outstanding amount of the debt.

6. An agreement may not: (a) Provide for application of the law of any jurisdiction other than the United States and this State; (b) Except as permitted by section 2 of the Federal Arbitration Act, 9 U.S.C. § 2 , or NRS 38.206 to 38.248 , inclusive, contain a provision that modifies or limits otherwise available forums or procedural rights, including, without limitation, the right to trial by jury, that are generally available to the individual under law other than this chapter; (c) Contain a provision that restricts the individual's remedies under this chapter or law other than this chapter; or (d) Contain a provision that: (1) Limits or releases the liability of any person for not performing the agreement or for violating this chapter; or (2) Indemnifies any person for liability arising under the agreement or this chapter.

7. All rights and obligations specified in subsection 4 and NRS 676A.550 exist even if not provided in the agreement. A provision in an agreement which violates subsection 4, 5 or 6 is void.
Nev. Rev. Stat. § 673.035 — NV Code / Title 55 / Chapter 673 / Section 673.035
Administration of chapter
Status: in_force

The Commissioner shall administer the provisions of this chapter, subject to administrative supervision by the Director. He or she shall make the decisions, determinations and enter the consents and orders necessary or reasonably appropriate to accomplish the purposes of this chapter.
Nev. Rev. Stat. § 672.160 — NV Code / Title 55 / Chapter 672 / Section 672.160
“Multiple-party account” defined
Status: in_force

1. “Multiple-party account” means: (a) An account in the name of two or more persons, any one or more of whom may make withdrawals; (b) An account in the name of one or more persons as trustee for one or more beneficiaries; (c) An account established for deposit of funds of a partnership, joint venture or other association; or (d) An account controlled by two or more persons as the duly authorized agents or trustees for a corporation, unincorporated association, charitable or civil organization or any trust, except trusts of deposits evidenced solely by the form of the deposit.

2. At least one party to a multiple-party account shall be a member of the credit union in which the account is established.
Nev. Rev. Stat. § 669.092 — NV Code / Title 55 / Chapter 669 / Section 669.092
Unlawful for retail trust company to engage in business at office outside Nevada without prior approval
Status: in_force

1. It is unlawful for any retail trust company licensed in this State to engage in trust company business at any office outside this State without the prior approval of the Commissioner.

2. Before the Commissioner will approve a branch to be located in another state, the retail trust company must: (a) Obtain from that state a license as a trust company; or (b) Provide proof satisfactory to the Commissioner that the retail trust company has met all the requirements to do business as a trust company at an office in that state, including, without limitation, written documentation from the appropriate state agency that the retail trust company is authorized to do business in that state.
Nev. Rev. Stat. § 672.755 — NV Code / Title 55 / Chapter 672 / Section 672.755
Approval of private insurer and contract of insurance; regulations; reserve
Status: in_force

1. In determining whether a private insurer is acceptable to issue a contract for the insurance of deposits, the Commissioner and the Commissioner of Insurance must consider: (a) The value of the insurer's capital. (b) The ratio of the insurer's assets, including reinsurance, which are readily available to cover any losses incurred by depositors, to its insured deposits. This ratio must be adequate to reimburse depositors for any losses which they may incur and may not be less than the ratio maintained by the share insurance fund established under the Federal Credit Union Act of 1934, as amended, ( 12 U.S.C. §§ 1781 et seq. ). (c) The qualifications of the directors, officers and managers of the insurance company. (d) The insurer's articles of incorporation and its bylaws and all amendments thereto. (e) The insurer's policies for investments. (f) The form of all insurance contracts entered into by the insurer, including contracts for reinsurance. (g) The insurer's requirements for premiums or deposits. (h) The insurer's policies for the management of risk. (i) Such other considerations as the Commissioner may provide by regulation which are necessary to carry out the provisions of chapter 248, Statutes of Nevada 1985.

2. The Commissioner and the Commissioner of Insurance shall not approve a contract of insurance unless the protection afforded thereby to the depositors is substantially equivalent to the protection afforded by the Federal Credit Union Act of 1934, as amended, ( 12 U.S.C. §§ 1781 et seq. ) to the depositors.

3. After a private insurer obtains the approval of the Commissioner and the Commissioner of Insurance, the Commissioner, after consultation with the Commissioner of Insurance may, for cause, require the insurer to establish and maintain for such a time as the Commissioner may require, a reserve, in cash or United States treasury bills or notes, in an amount fixed by the Commissioner. If required, the reserve must be kept in an account approved by the Commissioner in a federally insured financial institution located in this state.
Nev. Rev. Stat. § 666.165 — NV Code / Title 55 / Chapter 666 / Section 666.165
Charges against company: Grounds; notice; hearing
Status: in_force

1. If the Commissioner has reasonable cause to believe that a bank holding company: (a) Is engaging, has engaged or is about to engage in any unsafe or unsound practice in connection with the bank holding company or a bank which it owns or controls; or (b) Is violating, has violated or is about to violate a law, regulation or condition imposed in a written agreement between the Commissioner and the bank holding company, the Commissioner may issue and serve upon the company a notice of the charges against the company.

2. A notice issued pursuant to subsection 1 must contain a statement of the facts which constitute the violation or unsafe or unsound practice and must set a time and place for a hearing to determine whether the Commissioner should issue an order to cease and desist from the activity. The hearing must be held not less than 20 nor more than 60 days after service of the notice unless an earlier or later date is set by the Director of the Department of Business and Industry at the request of the bank holding company.
Nev. Rev. Stat. § 671.335 — NV Code / Title 55 / Chapter 671 / Section 671.335
Records: Maintenance; open to inspection by Commissioner
Status: in_force

1. A licensee shall maintain the following records for at least 5 years: (a) A record of each outstanding money transmission obligation sold; (b) A general ledger posted at least monthly that contains all asset, liability, capital, income and expense accounts; (c) Bank statements and bank reconciliation records; (d) A record of each outstanding money transmission obligation; (e) A record of each outstanding money transmission obligation paid during the 5-year period; (f) A list of the last known name and address of each of the authorized delegates of the licensee; and (g) Any other records the Commissioner reasonably requires by regulation.

2. A licensee may maintain the records required to be maintained by subsection 1: (a) In any form; and (b) Outside of this State, so long as any such record is made available to the Commissioner with 5 business days' notice that is sent in a record.

3. The records required to be maintained pursuant to subsection 1 are open to inspection by the Commissioner pursuant to NRS 671.375 .
Nev. Rev. Stat. § 666A.370 — NV Code / Title 55 / Chapter 666A / Section 666A.370
State branch or agency: Seizure and liquidation of property and business
Status: in_force

1. If the Commissioner finds that any of the factors set forth in NRS 666A.350 are true with respect to any foreign bank which is licensed to establish and maintain a state branch or agency and that it is necessary for the protection of the interests of the creditors of the foreign bank's business in this state or for the protection of the public interest that the Commissioner take immediate possession of the property and business of the foreign bank, the Commissioner may by order take possession of the property and business of the foreign bank in this state and retain possession until the foreign bank resumes business in this state or is finally liquidated. The foreign bank may, with the consent of the Commissioner, resume business in this state upon such conditions as the Commissioner may prescribe.

2. If the Commissioner takes possession of the property and business of a foreign bank pursuant to subsection 1, the foreign bank may, within 10 days, apply to the district court in the county in which the primary office of the foreign bank in this state is located to enjoin further proceedings. The court may, after citing the Commissioner to show cause why further proceedings should not be enjoined and after a hearing, dismiss the application or enjoin the Commissioner from further proceedings and order the Commissioner to surrender the property and business of the foreign bank to the foreign bank or make further order as may be just.

3. The Commissioner or the foreign bank may appeal from the judgment of the court having jurisdiction over any proceedings under subsection 2 in the manner provided by law for appeals from the judgment of a district court. If the Commissioner appeals from the judgment of the district court, the appeal operates as a stay of the judgment and the Commissioner need not post any bond.

4. If the Commissioner takes possession of the property and business of a foreign bank pursuant to subsection 1, the Commissioner shall conserve or liquidate the property and business of the foreign bank pursuant to the laws of this state as if the foreign bank were a Nevada bank, with absolute priority given to the creditors of the business in this state conducted by the foreign bank at and recorded on the books of its state branch or agency.

5. When the Commissioner has completed the liquidation of the property and business of a foreign bank, the Commissioner shall transfer any remaining assets to the foreign bank in accordance with such orders as the court may issue. However, if the foreign bank has an office in another state of the United States which is in liquidation and the assets of that office appear to be insufficient to pay in full the creditors of that office, the court shall order the Commissioner to transfer to the liquidator of that office such amount of any such remaining assets as appears to be necessary to cover the insufficiency. If there are two or more such offices and the amount of remaining assets is less than the aggregate amount of insufficiencies with respect to the offices, the court shall order the Commissioner to distribute the remaining assets among the liquidators of those offices in such manner as the court finds equitable.
Nev. Rev. Stat. § 663.085 — NV Code / Title 55 / Chapter 663 / 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
Status: in_force

1. If the rental due on a safe-deposit box has not been paid for 90 days, the lessor may send a notice by registered or certified mail to the last known address of the lessee stating that the safe-deposit box will be opened and its contents stored at the expense of the lessee unless payment of the rental is made within 30 days. If the rental is not paid within 30 days after the mailing of the notice, the box may be opened in the presence of any officer of the lessor and a notary public. The contents must be sealed in a package by the notary public, who shall write on the outside the name of the lessee and the date of the opening of the box in the presence of the officer. The notary public and the officer shall execute a certificate reciting the name of the lessee, the date of the opening of the box and a list of its contents. The certificate must be included in the package, and a copy of the certificate must be sent by registered or certified mail to the last known address of the lessee. If the contents of the safe-deposit box have been unclaimed by the owner for 3 years or less, the package must then be placed in the general vaults of the lessor at a rental not exceeding the rental previously charged for the box, until such time that the contents will have been unclaimed by the owner for more than 3 years, at which time the lessor shall deliver the package to the State Treasurer in the State Treasurer’s capacity as the Administrator of Unclaimed Property pursuant to the provisions of chapter 120A of NRS .

2. If the contents of a safe-deposit box that has been opened pursuant to subsection 1 have been unclaimed by the owner for more than 3 years, the lessor shall deliver the package to the State Treasurer in the State Treasurer’s capacity as the Administrator of Unclaimed Property pursuant to the provisions of chapter 120A of NRS .
Nev. Rev. Stat. § 665.105 — NV Code / Title 55 / Chapter 665 / Section 665.105
Reports to Commissioner: General requirements
Status: in_force

1. Every bank shall make at least four reports each year to the Commissioner at the same times and substantially in the form of similar reports required by the Comptroller of the Currency, the Federal Reserve Bank or the Federal Deposit Insurance Corporation.

2. The bank shall make additional reports within 10 days after the receipt of a request therefor from the Commissioner.

3. The reports must be prepared by the cashier or by any competent person approved by the Commissioner and be verified by the oath or affirmation of the president or vice president, or a manager, and the cashier, the person by whom the reports were prepared, and by at least three of the directors or two other managers.

4. Each report must: (a) Exhibit in detail, and under the appropriate heads, the resources and liabilities and a profit and loss account of the bank at the close of business on any past day specified by the Commissioner. (b) Be published in condensed form, according to the requirements of the Commissioner, within 10 days after the report is made, in a newspaper published in the county in which the bank is established, for one insertion, at the expense of the bank. Such proof of publication must be furnished within 5 days after the date of publication as may be required by the Commissioner.

5. The Commissioner may call for special reports, which need not be published, from any bank whenever, in the Commissioner’s judgment, the reports are necessary in order to gain complete knowledge of its condition.
Nev. Rev. Stat. § 677.115 — NV Code / Title 55 / Chapter 677 / Section 677.115
“Loan” defined
Status: in_force

“Loan” does not include a bona fide conditional contract of sale.
Nev. Rev. Stat. § 666.105 — NV Code / Title 55 / Chapter 666 / Section 666.105
Examinations of bank holding companies by Commissioner
Status: in_force

1. Each year the Commissioner shall make a thorough examination of and into the affairs of every bank holding company and every banking subsidiary thereof doing business in this state or accept a report of an examination made by the Comptroller of the Currency, the Federal Deposit Insurance Corporation or the Board of Governors of the Federal Reserve System.

2. The Commissioner may make additional examinations of any bank holding company and its subsidiaries.

3. The expense of any examination made by the Commissioner must be borne by the bank holding company being examined.
Nev. Rev. Stat. § 657.280 — NV Code / Title 55 / Chapter 657 / Section 657.280
Training; reporting to designated reporter
Status: in_force

1. Each financial institution shall provide training concerning the identification and reporting of the suspected exploitation of an older person or vulnerable person to each officer and employee of the financial institution who: (a) May, as part of his or her regular duties for the financial institution, come into direct contact with an older person or vulnerable person; or (b) May review or approve the financial documents, records or transactions of an older person or vulnerable person in connection with providing financial services to the older person or vulnerable person.

2. The training required pursuant to subsection 1 must be provided as soon as reasonably practicable, but not later than 6 months after the officer or employee is employed by the financial institution.

3. The training required pursuant to subsection 1 must include, without limitation: (a) An explanation of the conduct which constitutes exploitation of an older person or vulnerable person; (b) The manner in which exploitation of an older person or vulnerable person may be recognized; (c) Information concerning the manner in which reports of exploitation are investigated; and (d) Instruction concerning when and how to report known or suspected exploitation of an older person or vulnerable person.

4. An officer or employee who has observed or has knowledge of an incident that is directly related to a transaction or matter which is within his or her scope of practice and which reasonably appears to be exploitation of an older person or vulnerable person shall report the known or suspected exploitation to the designated reporter.
Nev. Rev. Stat. § 657A.350 — NV Code / Title 55 / Chapter 657A / Section 657A.350
Request for extension of period of testing: Procedure; requirements; approval or denial by Director; report on extension
Status: in_force

1. A participant may request an extension of the period of testing to apply for any license or other authorization required for the financial product or service by any statute or regulation of this State. A participant who desires such an extension must submit a written request to the Director not less than 30 days before the end of the period of testing.

2. The Director shall: (a) Approve or deny the requested extension before the end of the prescribed period of testing; and (b) Give written notice of the approval or denial as provided in NRS 657A.420 .

3. Only one extension of the period of testing may be granted pursuant to this section. Any such extension must not exceed 1 year in duration.

4. A participant who obtains an extension shall report periodically to the Director, in writing, on the status of the efforts of the participant to obtain a license or other authorization. The first such report must be submitted within 90 days after the date of the notice described in subsection 2, and subsequent reports must be submitted at intervals of not more than 90 days until the application of the participant for a license or other authorization is finally approved or finally denied by the applicable regulator.
Nev. Rev. Stat. § 677.693 — NV Code / Title 55 / Chapter 677 / Section 677.693
“Reasonable cause to believe” defined
Status: in_force

“ Reasonable cause to believe ” has the meaning ascribed to it in NRS 200.50925 .
Nev. Rev. Stat. § 672.810 — NV Code / Title 55 / Chapter 672 / Section 672.810
Conversions; fee set by regulation
Status: in_force

1. A credit union chartered in accordance with the laws of this state may be converted to a credit union chartered in accordance with the laws of any other state or the laws of the United States, subject to regulations adopted by the Commissioner.

2. A credit union chartered in accordance with the laws of the United States or of any other state may convert to a credit union chartered in accordance with the laws of this state. To effect such a conversion, a credit union must comply with all the requirements of the authority under which it was originally chartered and the requirements of the Commissioner and file proof of such compliance with the Commissioner.

3. Every application for permission to convert to a credit union chartered in accordance with the laws of this state must be accompanied by an application fee in an amount prescribed by regulation of the Commissioner. The applicant shall also pay such additional expenses incurred in the process of investigation as the Commissioner deems necessary. All money received by the Commissioner pursuant to this subsection must be placed in the Investigative Account created by NRS 232.545 .
Nev. Rev. Stat. § 673.5926 — NV Code / Title 55 / Chapter 673 / Section 673.5926
Petition and order may relate to all instruments in which former trustee was named
Status: in_force

The petition and the order appointing such new trustee may include, relate to and apply to any number of indentures, deeds of trust or other instruments, wherein the same trustee is named.
Nev. Rev. Stat. § 658.135 — NV Code / Title 55 / Chapter 658 / Section 658.135
Attestation of licenses, orders and certificates
Status: in_force

All licenses, orders and certificates issued by the Commissioner must be attested by the seal of the Division of Financial Institutions and by the signature of the Commissioner.
Nev. Rev. Stat. § 665.035 — NV Code / Title 55 / Chapter 665 / Section 665.035
Reports of examination
Status: in_force

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

2. The report must contain a true and detailed statement of the condition of a bank, and must also contain: (a) A full statement of any violation of any of the provisions of chapters 657 to 671, inclusive, of NRS. (b) A description of and comment on all assets and liabilities which in the opinion of the Commissioner may be subject to criticism. (c) A classification of assets showing which are of doubtful collectibility.
Nev. Rev. Stat. § 657A.200 — NV Code / Title 55 / Chapter 657A / Section 657A.200
Establishment of Program
Status: in_force

In consultation with each applicable regulator, the Director shall establish and administer the Regulatory Experimentation Program for Product Innovation to enable a person to obtain limited access to markets in this State to test a financial product or service without:

1. Applying for or obtaining any license or other authorization otherwise required by any provision of this title, chapter 645A, 645B, 645F or 645G of NRS or any regulation adopted pursuant thereto; or

2. Otherwise complying with any provision of this title, chapter 645A, 645B, 645F or 645G of NRS or any regulation adopted pursuant thereto, except as otherwise required by the Director pursuant to NRS 657A.430 or 657A.620 .
Nev. Rev. Stat. § 676A.500 — NV Code / Title 55 / Chapter 676A / Section 676A.500
Provider to act in good faith; fiduciary duty
Status: in_force

1. A provider shall act in good faith in all matters under this chapter.

2. A provider who holds funds on behalf of an individual to whom it provides debt-management services shall act as a fiduciary with respect to those funds.
Nev. Rev. Stat. § 673.340 — NV Code / Title 55 / Chapter 673 / Section 673.340
Minors and married persons; payment as valid discharge of savings bank
Status: in_force

1. Any savings bank may issue deposit accounts or investment certificates to minors with the written consent of their parents, trustees or guardians, and to married persons, each in their own right.

2. Any payment thereon, or delivery thereof, or of any rights thereunder, to a minor of the age of 14 years or over, or to a married person, or a receipt or acquittance signed by the minor and parent, trustee or guardian or by a married person who holds such deposit accounts or investment certificates, is a valid and sufficient release and discharge of the savings bank for any such payment or delivery.
Nev. Rev. Stat. § 672.777 — NV Code / Title 55 / Chapter 672 / Section 672.777
“Vulnerable person” defined
Status: in_force

“ Vulnerable person ” has the meaning ascribed to it in NRS 200.5092 .
Nev. Rev. Stat. § 658.185 — NV Code / Title 55 / Chapter 658 / Section 658.185
Incidental powers of Commissioner
Status: in_force

In addition to the express powers, duties and functions given to the Commissioner by chapters 657 to 671, inclusive, of NRS, the Commissioner has such other powers and rights as may be necessary or incident to the proper discharge of the Commissioner’s duties.
Nev. Rev. Stat. § 670B.680 — NV Code / Title 55 / Chapter 670B / Section 670B.680
Confidentiality and disclosure of certain books, records and information obtained by Division of Financial Institutions
Status: in_force

Except as otherwise provided in this section and NRS 239.0115 , any books, records or other information obtained by the Division of Financial Institutions in connection with an application, complaint, audit, investigation or examination pursuant to this chapter, or in response to a subpoena, are confidential and may be disclosed only to:

1. The Division of Financial Institutions, any authorized employee or representative of the Division of Financial Institutions and any state or federal agency investigating the activities covered under the provisions of this chapter; and

2. Any person if the Commissioner, in his or her discretion, determines that the interests of the public that would be protected by disclosure outweigh the interest of any person in the confidential information not being disclosed.
Nev. Rev. Stat. § 662.095 — NV Code / Title 55 / Chapter 662 / 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 of equity; exemption from certain laws
Status: in_force

1. To the same extent that a bank may invest its money in obligations of the United States, a bank may invest its money and may invest the money in its custody or possession which is eligible for investment: (a) In bonds or notes secured by a mortgage or deed of trust insured or guaranteed by the Federal Housing Administrator or the Department of Veterans Affairs; (b) In mortgages on real property which have been accepted for insurance by the Federal Housing Administrator or Department of Veterans Affairs; and (c) In obligations of national mortgage associations or bonds, debentures, consolidated bonds or other obligations of any Federal Home Loan Bank or Banks.

2. A bank may make such loans: (a) Secured by real property, as the Federal Housing Administrator or Department of Veterans Affairs has insured or has made a commitment to insure, and may obtain such insurance. (b) As are insured or guaranteed by the Federal Housing Administrator, and on being approved as eligible for credit insurance by the Department of Veterans Affairs, may make such loans as are insured or guaranteed by the Department of Veterans Affairs.

3. Wherever by statute of this state: (a) Collateral is required as security for the deposit of public money; (b) Deposits are required to be made with any public officer or department; or (c) An investment of stockholders' or members' equity, or a reserve or other fund is required to be maintained, consisting of designated securities, bonds and notes secured by a mortgage or deed of trust insured by the Federal Housing Administrator or Department of Veterans Affairs, debentures issued by the Federal Housing Administrator and obligations of national mortgage associations are eligible for those purposes.

4. No law of this state prescribing the nature, amount or form of security or requiring security upon which loans or investments may be made, prescribing or limiting the rates of time of payment of the interest any obligation may bear, or prescribing or limiting the period for which loans or investments may be made, applies to loans or investments made pursuant to this section.
Nev. Rev. Stat. § 672.210 — NV Code / Title 55 / Chapter 672 / Section 672.210
“Proof of death” defined
Status: in_force

“Proof of death” means a death certificate or other statement issued by an appropriate official which indicates that a named person is deceased.
Nev. Rev. Stat. § 672.767 — NV Code / Title 55 / Chapter 672 / Section 672.767
Definitions
Status: in_force

As used in NRS 672.767 to 672.779 , inclusive, unless the context otherwise requires, the words and terms defined in NRS 672.769 to 672.777 , inclusive, have the meanings ascribed to them in those sections.
Nev. Rev. Stat. § 669A.230 — NV Code / Title 55 / Chapter 669A / Section 669A.230
Investments
Status: in_force

1. Except as otherwise provided in subsection 2, the assets forming the minimum capital of a licensed family trust company pursuant to NRS 669A.160 must: (a) Consist of: (1) Cash; (2) Governmental obligations or insured deposits that mature within 3 years after acquisition; (3) Readily marketable securities or other liquid, secure assets, bonds, sureties or insurance; or (4) Any combination thereof. (b) Have an aggregate market value that equals or exceeds 100 percent of the company's required stockholders' equity.

2. A licensed family trust company may purchase or rent real or personal property for use in the conduct of the business and other activities of the company.

3. Except as otherwise provided in NRS 669A.225 and notwithstanding any other provisions of law to the contrary, a licensed family trust company may invest its funds for its own account, other than those required or permitted to be maintained by subsection 1 or 2, in any type or character of equity securities, debt securities or other asset provided the investment complies with the prudent investor standards set forth in NRS 164.700 to 164.775 , inclusive.

4. Except as otherwise provided in NRS 669A.225 and notwithstanding the provisions of any other law to the contrary, a family trust company is authorized while acting as a fiduciary to purchase for the fiduciary estate, directly from underwriters or distributors or in the secondary market: (a) Bonds or other securities underwritten or distributed by the family trust company or an affiliate thereof or by a syndicate which includes the family trust company, provided that the family trust company discloses in any written communication or account statement reflecting the purchase of those bonds or securities the nature of the interest of the family trust company in the underwriting or distribution of those bonds and securities and whether the family trust company received any fee in connection with the purchase; and (b) Securities of any investment company for which the family trust company acts as advisor, custodian, distributor, manager, registrar, shareholder servicing agent, sponsor or transfer agent, or provided the family trust company discloses in any written communication or account statement reflecting the purchase of the securities the nature of the relationship and whether the family trust company received any fee for providing those services.

5. Except as otherwise provided in NRS 669A.225 , the authority granted in subsection 4 may be exercised only if: (a) The investment is not expressly prohibited by the instrument, judgment, decree or order establishing the fiduciary relationship; (b) The family trust company discloses in writing to the person or persons to whom it sends account statements its intent to exercise the authority granted in subsection 4 before the first exercise of that authority; and (c) The family trust company procures in writing the consent of its cofiduciaries with discretionary investment powers, if any, to the investment.

6. Except as otherwise provided in NRS 669A.225 , a family trust company may: (a) Invest in the securities of an investment company or investment trust, to which the family trust company or its affiliate provides services in a capacity other than as trustee. The investment is not presumed to be affected by a conflict between personal and fiduciary interests if the investment complies with the prudent investor standards set forth in NRS 164.700 to 164.775 , inclusive. (b) Be compensated by an investment company or investment trust described in paragraph (a) for providing services in a capacity other than as trustee if the family trust company discloses at least annually to each person to whom it sends account statements the rate and method by which the compensation was determined.

7. Except as otherwise provided in NRS 669A.225 , nothing in subsections 4, 5 and 6 shall affect the degree of prudence which is required of fiduciaries under the laws of this State. Any bonds or securities purchased under authority of this section are not presumed to be affected by a conflict between the fiduciary’s personal and fiduciary interest if the purchase of the bonds or securities: (a) Is at a fair price; (b) Is in accordance with: (1) The interest of the beneficiaries; and (2) The purposes of the trusts; and (c) Complies with: (1) The prudent investor standards set forth in NRS 164.700 to 164.775 , inclusive; and (2) The terms of the instrument, judgment, decree or order establishing the fiduciary relationship.

8. Except as otherwise provided in NRS 669A.225 and notwithstanding the provisions of subsections 4 to 7, inclusive, a family trust company which is authorized to exercise trust powers in this State and which is acting as a fiduciary shall not purchase for the fiduciary estate any fixed income or equity security issued by the family trust company or an affiliate thereof unless: (a) The family trust company is expressly authorized to do so by: (1) The terms of the instrument creating the trust; (2) A court order; (3) The written consent of the grantor of the trust; or (4) The written consent of every adult beneficiary of the trust who, at the time notice is provided pursuant to paragraph (b) of subsection 5, receives or is entitled to receive income under the trust or who would be entitled to receive a distribution of principal if the trust were terminated; or (b) The purchase of the security: (1) Is at a fair price; and (2) Complies with: (I) The prudent investor standards set forth in NRS 164.700 to 164.775 , inclusive; and (II) The terms of the instrument, judgment, decree or order establishing the fiduciary relationship.

9. As used in this section: (a) “Face-amount certificate” has the meaning ascribed to it in 15 U.S.C. § 80a-2(a)(15) . (b) “Government securities” has the meaning ascribed to it in 15 U.S.C. § 80a-2(a)(16) . (c) “ Investment company ” means any issuer which: (1) Is or holds itself out as being engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting or trading in securities; (2) Is engaged or proposes to engage in the business of issuing face-amount certificates of the installment type, or has been engaged in such business and has any such certificate outstanding; or (3) Is engaged or proposes to engage in the business of investing, reinvesting, owning, holding or trading in securities, and owns or proposes to acquire investment securities having a value exceeding 40 percent of the value of the total assets of the issuer, exclusive of government securities and cash items, on an unconsolidated basis. (d) “Issuer” has the meaning ascribed to it in 15 U.S.C. § 80a-2(a)(22) .
Nev. Rev. Stat. § 677.300 — NV Code / Title 55 / Chapter 677 / Section 677.300
Authorization for change of location; posting of certificate
Status: in_force

When authorized by the Commissioner, a licensee may change the location of a branch office from one location to another. The Commissioner must give his or her approval or denial to the licensee within 25 days from the date of application for a change in branch location unless the Commissioner gives notice within the original 25-day period that he or she is extending the period for decision for a term not to exceed an additional 25 days. Every licensee shall keep posted in a conspicuous place in each branch office the certificate issued by the Commissioner permitting the operating of the branch office.
Nev. Rev. Stat. § 661.115 — NV Code / Title 55 / Chapter 661 / Section 661.115
Maintenance and filing of list of stockholders or members; additional requirements for list of members
Status: in_force

1. On the fourth Monday in January of each year, a copy of the list of stockholders required to be maintained pursuant to paragraph (c) of subsection 1 of NRS 78.105 or the list of members required to be maintained pursuant to paragraph (a) of subsection 1 of NRS 86.241 must be verified by the oath of the president or a manager and must be transmitted to the Commissioner and filed in the Commissioner’s office for the confidential use of the Commissioner.

2. The list of members required to be maintained pursuant to paragraph (a) of subsection 1 of NRS 86.241 must, in addition to the requirements set forth in that section, include the percentage of each member's interest in the company.
Nev. Rev. Stat. § 671.495 — NV Code / Title 55 / Chapter 671 / Section 671.495
Unlawful acts; penalty; other remedies
Status: in_force

1. Any person who: (a) Without a license, knowingly engages in any activity for which a license is required pursuant to this chapter; (b) Violates any provision of this chapter, or any regulation adopted or order issued by the Commissioner pursuant to this chapter; (c) Knowingly makes any false or misleading statement of a material fact in any application, statement or report filed pursuant to this chapter; (d) Knowingly omits to state any material fact necessary to provide the Commissioner with information lawfully required by the Commissioner; or (e) Refuses to permit or obstructs any lawful investigation, examination, entry or access by the Commissioner, is guilty of a misdemeanor.

2. Each day during which a violation continues constitutes a separate offense.

3. The imposition of any fine or term of imprisonment pursuant to subsection 1: (a) Is in addition to any suspension, revocation or denial of renewal of a license which may result from the violation. (b) Is not a bar to enforcement of this chapter by an injunction or other appropriate civil remedy.
Nev. Rev. Stat. § 677.697 — NV Code / Title 55 / Chapter 677 / Section 677.697
“Vulnerable person” defined
Status: in_force

“ Vulnerable person ” has the meaning ascribed to it in NRS 200.5092 .
Nev. Rev. Stat. § 673.610 — NV Code / Title 55 / Chapter 673 / Section 673.610
Notice of stockholders' meeting: Service and proof of service
Status: in_force

1. A meeting of the stockholders shall be held upon not less than 10 days' written notice to each stockholder, served either personally or by mail, postage prepaid, directed to him or her at his or her last known post office address and containing a statement of the time, place and the purpose for which the meeting is called.

2. Proof by affidavit of due service of the notice shall be filed in the office of the corporation before or at the time of the meeting.
Nev. Rev. Stat. § 676A.610 — NV Code / Title 55 / Chapter 676A / Section 676A.610
Agreement voidable by individual in certain circumstances
Status: in_force

1. If a provider imposes a fee or other charge or receives money or other payments not authorized by NRS 676A.580 or 676A.590 , the individual may void the agreement and recover as provided in NRS 676A.760 .

2. If a provider is not registered as required by this chapter when an individual assents to an agreement, the agreement is voidable by the individual.

3. If an individual voids an agreement under subsection 2, the provider does not have a claim against the individual for breach of contract or for restitution.
Nev. Rev. Stat. § 673.060 — NV Code / Title 55 / Chapter 673 / Section 673.060
Deposit of money in State Treasury; payment of expenses; exceptions
Status: in_force

Except as otherwise provided in NRS 673.080 , 673.112 and 673.2176 :

1. All fees, charges for expenses, assessments and other money collected under the provisions of this chapter from foreign and domestic savings banks, companies and corporations governed by this chapter must be deposited in the State Treasury pursuant to the provisions of NRS 658.091 .

2. The compensation provided for by this chapter and all expenses incurred under this chapter must be paid from the money deposited in the State Treasury pursuant to the provisions of NRS 658.091 .
Nev. Rev. Stat. § 659.045 — NV Code / Title 55 / Chapter 659 / Section 659.045
Examination and certification of proposed bank by Commissioner; payment and deposit of fees and expenses; regulations
Status: in_force

1. Upon receipt of a copy of the articles of incorporation or organization or the certificate of amendment of the articles of incorporation or organization of the proposed bank, the Commissioner shall at once examine all of the facts connected with the formation of the proposed banking corporation or company, including its location and proposed stockholders or members. If it appears that the bank, if formed, will be lawfully entitled to commence the business of banking, the Commissioner shall so certify to the Secretary of State, unless upon examination and investigation the Commissioner finds that: (a) The proposed bank is formed for any other than legitimate banking business; (b) The character, general fitness and responsibility of the persons proposed as stockholders, directors, officers, members or managers of the bank are not such as to command the confidence of the community in which the bank is proposed to be located; (c) The probable volume of business and reasonable public demand in such community is not sufficient to assure and maintain the solvency of the new bank and of the bank or banks existing in the community at that time; (d) The name of the proposed banking corporation or company does not comply with the provisions of NRS 657.200 .

2. The Commissioner shall not make the certification to the Secretary of State until the Commissioner has ascertained that the establishment of the bank will meet the needs and promote the convenience of the community to be served by the bank.

3. A nonrefundable fee of not more than $6,000 for the application and survey must be submitted to the Commissioner upon filing the articles or certificate of amendment with the Secretary of State. The proposed banking corporation or company shall also pay such additional expenses incurred in the process of investigation as the Commissioner deems necessary. All money received by the Commissioner pursuant to this section must be placed in the Investigative Account created by NRS 232.545 .

4. The Commissioner shall adopt regulations establishing the amount of the application fee required pursuant to this section.
Nev. Rev. Stat. § 673.0323 — NV Code / Title 55 / Chapter 673 / Section 673.0323
“State bank” or “commercial bank” defined
Status: in_force

“ State bank ” or “ commercial bank ” means a limited-liability company, corporation or other person organized for the purpose of conducting a banking business that is chartered by this State to conduct the business of banking and is organized pursuant to the provisions of chapter 659 of NRS .
Nev. Rev. Stat. § 672.750 — NV Code / Title 55 / Chapter 672 / Section 672.750
Insurance of members and accounts
Status: in_force

1. A credit union may purchase insurance on the lives of its members in an amount equal to their respective shares, deposits and balances on a loan or any of them.

2. A credit union may enter into cooperative marketing arrangements for its members covering such services as group life insurance, coverage for temporary disability, plans for health and accident and such other programs which are demonstrated to be in the interest of improving the economic and social conditions of the credit union's members.

3. A credit union must apply to the Commissioner for approval of a plan of insurance for members' accounts, either pursuant to the Federal Credit Union Act of 1934, as amended, ( 12 U.S.C. §§ 1781 et seq. ), or under a contract of insurance issued by an insurer, which must be approved by the Commissioner and the Commissioner of Insurance pursuant to NRS 672.755 . The issuance of such a contract is not transacting insurance under title 57 of NRS.

4. The Commissioner shall make available reports of the financial condition of credit unions, reports of examinations made pursuant to NRS 672.790 and any other reports that may be required by the insurer and deemed appropriate by the Commissioner.
Nev. Rev. Stat. § 673.216 — NV Code / Title 55 / Chapter 673 / Section 673.216
Official communication from Commissioner: Presentation at next board meeting and made part of minutes
Status: in_force

Every official communication by the Commissioner directed to the board of directors of a savings bank must be presented at the next meeting of the board of directors and made a part of the minutes of the meeting.
Nev. Rev. Stat. § 669A.223 — NV Code / Title 55 / Chapter 669A / Section 669A.223
Designation of person to represent and bind beneficiary and receive information regarding trust; exceptions; limitation on liability
Status: in_force

1. Except as otherwise provided in subsections 2 and 3, if specifically nominated in the trust instrument, one or more persons may be designated to represent and bind a beneficiary of a trust administered by a family trust company or licensed family trust company and to receive any notice, information, accounting or report regarding the trust. The trust instrument may also authorize any person or persons, other than a trustee, to designate one or more persons to represent and bind a beneficiary and to receive any notice, information, accounting or report.

2. A person designated to represent and bind a beneficiary of a trust, as provided in subsection 1, may not represent and bind a beneficiary while that person is serving as a trustee of that trust.

3. Notwithstanding any provision of law to the contrary, a person designated to represent and bind a beneficiary of a trust, as provided in subsection 1, may not represent and bind a beneficiary if that person is also a beneficiary, unless that person is: (a) Specifically nominated in the trust instrument; (b) The beneficiary's spouse; or (c) A parent, grandparent or descendant of a grandparent of the beneficiary or the beneficiary's spouse.

4. A person designated to represent and bind a beneficiary of a trust, as provided in subsection 1, is not liable to that beneficiary or his or her agent or successor for any acts or omissions made in good faith.
Nev. Rev. Stat. § 667.195 — NV Code / Title 55 / Chapter 667 / Section 667.195
Validation of sales by liquidator under security instruments giving power of sale
Status: in_force

If the Commissioner, the Federal Deposit Insurance Corporation or any liquidating agent appointed pursuant to the provisions of NRS 667.035 to 667.085 , inclusive, exercises the power of sale set up in any mortgage, deed of trust or other written instrument for the security of the payment of money in which any bank then in liquidation was named trustee, the exercise of the power of sale and the acts of resigning the trust, of the Commissioner, the Federal Deposit Insurance Corporation or the appointed liquidating agent have the same effect as if done by the bank named as trustee in the mortgage, deed of trust or other instrument.
Nev. Rev. Stat. § 672.090 — NV Code / Title 55 / Chapter 672 / Section 672.090
“Department” defined
Status: in_force

“Department” means the Department of Business and Industry.
Nev. Rev. Stat. § 672.344 — NV Code / Title 55 / Chapter 672 / Section 672.344
Requirements for issuance of certificate
Status: in_force

The Commissioner shall issue a certificate of authority to a foreign credit union if he or she 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 registered 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.
Nev. Rev. Stat. § 672.795 — NV Code / Title 55 / Chapter 672 / Section 672.795
Independent audit and examination: Payment of assessment; cooperation
Status: in_force

Each credit union shall pay the assessment levied pursuant to NRS 658.055 and cooperate fully with the audits and examinations performed pursuant thereto.
Nev. Rev. Stat. § 676A.750 — NV Code / Title 55 / Chapter 676A / Section 676A.750
Suspension, revocation or denial of renewal of registration by Commissioner
Status: in_force

1. The Commissioner may suspend, revoke or deny renewal of a provider's registration if: (a) A fact or condition exists that, if it had existed when the registrant applied for registration as a provider, would have been a reason for denying registration; (b) The provider has committed a material violation of this chapter or a rule or order of the Commissioner under this chapter; (c) The provider is insolvent; (d) The provider or an employee or affiliate of the provider has refused to permit the Commissioner to make an examination authorized by this chapter, failed to comply with paragraph (b) of subsection 2 of NRS 676A.730 within 15 days after request, or made a material misrepresentation or omission in complying with paragraph (b) of subsection 2 of NRS 676A.730 ; or (e) The provider has not responded within a reasonable time and in an appropriate manner to communications from the Commissioner.

2. If a provider does not comply with subsection 6 of NRS 676A.570 or if the Commissioner otherwise finds that the public health or safety or general welfare requires emergency action, the Commissioner may order a summary suspension of the provider's registration, effective on the date specified in the order.

3. If the Commissioner suspends, revokes or denies renewal of the registration of a provider, the Commissioner may seek a court order authorizing seizure of any or all of the money in a trust account required by NRS 676A.570 , books, records, accounts and other property of the provider which are located in this State.

4. If the Commissioner suspends or revokes a provider's registration, the provider may appeal and request a hearing pursuant to NRS 233B.121 to 233B.150 , inclusive.

5. As used in this section, “ insolvent ” means: (a) Having generally ceased to pay debts in the ordinary course of business other than as a result of good faith dispute; (b) Being unable to pay debts as they become due; or (c) Being insolvent within the meaning of the federal bankruptcy law, 11 U.S.C. §§ 101 et seq.
Nev. Rev. Stat. § 673.212 — NV Code / Title 55 / Chapter 673 / Section 673.212
Standard of conduct in discharge of duties of directors and officers
Status: in_force

Directors and officers of a savings bank shall discharge the duties of their respective positions in good faith and with the diligence, care and skill which ordinary, prudent persons would exercise under similar circumstances in a similar position.
Nev. Rev. Stat. § 676A.240 — NV Code / Title 55 / Chapter 676A / Section 676A.240
“Sign” defined
Status: in_force

“ Sign ” means, with present intent to authenticate or adopt a record:

1. To execute or adopt a tangible symbol; or

2. To attach to or logically associate with the record an electronic sound, symbol or process.
Nev. Rev. Stat. § 676A.230 — NV Code / Title 55 / Chapter 676A / Section 676A.230
“Settlement fee” defined
Status: in_force

“ Settlement fee ” means a charge imposed on or paid by an individual in connection with a creditor's assent to accept in full satisfaction of a debt an amount less than the principal amount of the debt.
Nev. Rev. Stat. § 657A.140 — NV Code / Title 55 / Chapter 657A / Section 657A.140
“Financial product or service” or “product or service” defined
Status: in_force

“ Financial product or service ” or “ product or service ” means any product, service, activity, business model, mechanism for delivery or element of any of these that:

1. Includes an innovation; and

2. But for the provisions of this chapter, is governed by the provisions of this title, chapter 645A, 645B, 645F or 645G of NRS or any regulation adopted pursuant thereto.
Nev. Rev. Stat. § 669A.082 — NV Code / Title 55 / Chapter 669A / Section 669A.082
“Fiduciary” defined
Status: in_force

“ Fiduciary ” means:

1. A person described in NRS 132.145 ;

2. A person described in NRS 163.554 ;

3. A directed fiduciary as provided in NRS 163.5548 ; and

4. A trust protector as defined in NRS 163.5547 , who may not be acting as a fiduciary under the terms of the trust instrument or will.
Nev. Rev. Stat. § 669A.255 — NV Code / Title 55 / Chapter 669A / Section 669A.255
Annual and final reports; allocation to income
Status: in_force

1. Except as otherwise provided in subsection 4, a family trust company or licensed family trust company, while acting as the fiduciary of a trust, shall provide an annual report to each beneficiary who is entitled to an account under the terms of the trust or applicable law for each year of the existence of the trust until the trust is terminated, at which time the family trust company shall provide to each such beneficiary a final report. The annual report or final report may be in the form of a report as described in subsection 2 or 6, an account as provided in chapter 165 of NRS or any other law applicable to the trust. An annual report or final report provided pursuant to this section is deemed to be an account for the purposes of chapter 165 of NRS .

2. A report that is provided pursuant to this section must, for the year immediately preceding the report, provide an accounting of: (a) Each asset and liability of the trust and its current market value or amount, if known; (b) Each disbursement of income or principal, including the amount of the disbursement and to whom the disbursement was made; (c) All payments of compensation from any source to the family trust company or licensed family trust company or any other person for services rendered; and (d) Any other transaction involving an asset of the trust.

3. A beneficiary who is entitled to a report pursuant to this section may waive his or her right to the report by submitting a written waiver to the family trust company or licensed family trust company. Any beneficiary who waives his or her right to a report may withdraw the waiver by submitting to the family trust company or licensed family trust company a written request for a report.

4. A family trust company or licensed family trust company is not required to provide a report pursuant to this section if the terms of the trust provide otherwise.

5. A family trust company or licensed family trust company may require a beneficiary who is entitled to receive confidential information pursuant to this section to execute a confidentiality agreement before providing the person with any confidential information.

6. In lieu of the information that a trustee is required to provide to a beneficiary pursuant to subsection 2, a trustee may provide to a beneficiary a statement indicating the accounting period and a financial report of the trust which is prepared by a certified public accountant and which summarizes the information required by paragraphs (a) to (d), inclusive, of subsection 2. Upon request, the trustee shall make all the information used in the preparation of the annual or final report available to each beneficiary who was provided a copy of the financial report pursuant to this subsection.

7. For the purposes of this chapter, information provided by a trustee to a beneficiary pursuant to subsection 6 is deemed an annual report.

8. A trustee may provide an annual report to a beneficiary via electronic mail or through a secure Internet website.

9. Notwithstanding the provisions of any other law to the contrary, any beneficiary of a trust administered by a family trust company or licensed family trust company not otherwise entitled to receive an account or annual report under the terms of the trust or applicable law shall have no right to demand an account or annual report of the trust.

10. A family trust company or licensed family trust company acting as trustee shall allocate to income the portion of compensation to the trustee and any person providing investment or custodial services to the trustee as determined by the family trust company or licensed family trust company, except as otherwise provided in: (a) NRS 164.800 ; (b) The trust; (c) A court order; (d) A nonjudicial settlement agreement; or (e) A notice of proposed action.
Nev. Rev. Stat. § 657.016 — NV Code / Title 55 / Chapter 657 / Section 657.016
“Bank,” “commercial bank,” “banking company” and “banking corporation” defined
Status: in_force

“Bank,” “commercial bank,” “banking company” or “banking corporation” means a corporation or limited-liability company that is chartered by this State, another state or the United States and conducts the business of receiving money as demand deposits or otherwise carries on a banking or banking and trust business. The terms do not include a thrift company engaged in business pursuant to chapter 677 of NRS .
Nev. Rev. Stat. § 658.190 — NV Code / Title 55 / Chapter 658 / Section 658.190
Regulations concerning nontraditional mortgage loan products and certain lending practices
Status: in_force

1. The Commissioner of Financial Institutions shall, with the cooperation of the Commissioner of Mortgage Lending, adopt regulations concerning nontraditional mortgage loan products and lending practices of persons and financial institutions that are required to be licensed or registered pursuant to the provisions of this title and chapter 645B of NRS and which make or offer to make loans that are secured by liens on real property.

2. The regulations required to be adopted by subsection 1 must be substantially similar to the provisions set forth in the “Guidance on Nontraditional Mortgage Product Risks” published by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators on November 14, 2006.

3. If the publication is revised, the Commissioner shall review the revision to determine whether the revision is suitable for this State. If the Commissioner determines that the revision is suitable for this State, he or she shall adopt a regulation that includes the revision.

4. If the Commissioner determines that the revision is not suitable for this State, the Commissioner shall hold a hearing within 60 days after his or her determination and give notice of the hearing. If, after the hearing, the Commissioner does not revise his or her determination, the Commissioner shall give written notice within 30 days after the hearing that the revision is not suitable for this State.

5. As used in this section, “nontraditional mortgage loan product”: (a) Means a residential loan agreement whose terms allow a borrower to defer repayment of principal or payment of interest on the loan for a period. (b) Includes, without limitation: (1) An interest-only loan; and (2) A payment option adjustable-rate mortgage. (c) Does not include: (1) A home equity line of credit other than a simultaneous second-lien home equity line of credit; or (2) A reverse mortgage.
Nev. Rev. Stat. § 672.440 — NV Code / Title 55 / Chapter 672 / Section 672.440
Fiduciary relationship of directors and officers
Status: in_force

Directors and officers of an association shall be deemed to stand in a fiduciary relation to the credit union and shall discharge the duties of their respective positions in good faith and with the diligence, care and skill which ordinary, prudent persons would exercise under similar circumstances in similar positions.
Nev. Rev. Stat. § 669.210 — NV Code / Title 55 / Chapter 669 / Section 669.210
Powers of retail trust companies; banking business prohibited
Status: in_force

1. Each retail trust company may, in the conduct of its trust business, within and outside this State, subject to NRS 669.092 , as applicable: (a) Act as indenture trustee or as trustee under any mortgage or bond of any person or of any municipality or body politic. (b) Accept and execute any municipal or corporate or individual trust not inconsistent with the laws of this State. (c) Act under the order or appointment of any court as guardian, administrator, receiver or trustee. (d) Act as executor or trustee under any will. (e) Act as fiscal or transfer agent of any state, municipality, body politic or corporation, and in such capacity receive and disburse money and register, transfer and countersign certificates of stock, bonds and other evidences of indebtedness. (f) Act as a registered agent of foreign corporations. (g) Accept and execute any trust business permitted by any law. (h) Acquire the fiduciary rights, powers, duties and liabilities of a bank, savings and loan association, savings bank, thrift company, trust company or credit union licensed pursuant to this title, and upon the effective date of such an acquisition, the fiduciary rights, powers, duties and liabilities of the bank, savings and loan association, savings bank, thrift company, trust company or credit union vest in and must be performed by the acquiring trust company. (i) Act as an agent, advisory agent, assignee, attorney-in-fact, authenticating agent, bailee, bond or indenture trustee, conversion agent, curator, custodian, escrow agent, exchange agent, fiscal or paying agent, financial adviser, investment adviser, investment manager, managing agent, purchase agent, registrar, safekeeping agent, subscription agent, warrant agent or in similar capacities generally performed by corporate trustees, and in so acting, may possess, purchase, sell, invest, reinvest, safekeep or otherwise manage or administer real or personal property of other persons. (j) Exercise the powers of a business corporation or limited-liability company organized or qualified as a foreign corporation or limited-liability company under Nevada law and any incidental powers that are reasonably necessary to enable it to fully exercise, in accordance with commonly accepted customs and usages, a power conferred in this chapter. (k) Do and perform all acts necessary to exercise the powers enumerated in this subsection and authorized by this chapter and any other applicable laws of this State.

2. A retail trust company may not engage in any banking business by accepting deposits or making loans.
Nev. Rev. Stat. § 669A.222 — NV Code / Title 55 / Chapter 669A / Section 669A.222
Appointment of guardian for certain persons who are not residents of this State
Status: in_force

Any court of competent jurisdiction may appoint a guardian of the estate or guardian ad litem for persons who are adjudicated incapacitated or minors who are not residents of this State and who are family members or beneficiaries of a trust or an estate for which a family trust company or licensed family trust company administers the trust or estate in this State.
Nev. Rev. Stat. § 669.230 — NV Code / Title 55 / Chapter 669 / Section 669.230
Discontinuing business
Status: in_force

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 trusts which it has assumed or which have been imposed by law. Thereafter, the Commissioner shall enter an order cancelling the trust company's license.
Nev. Rev. Stat. § 673.208 — NV Code / Title 55 / Chapter 673 / Section 673.208
Persons requiring Commissioner's approval to serve as director
Status: in_force

No person is eligible to serve as a director of a savings bank without the written permission of the Commissioner if he or she:

1. Has been adjudicated bankrupt or has taken the benefit of any assignment for the benefit of creditors or has suffered a judgment recovered against him or her for a sum of money to remain unsatisfied of record or not safeguarded by supersedeas bond on appeal for a period of more than 3 months.

2. Is a director, officer or employee of any other unaffiliated savings bank.

3. Is an officer or employee of an unaffiliated commercial bank in this state.

4. Is not an investor in the savings bank or its holding company, if applicable, owning in his or her own right or in a representative capacity as an executor, administrator, guardian or trustee stock in the savings bank or its holding company, if applicable, of the par value of at least $1,000, or full-paid investment certificates in the savings bank or its holding company, if applicable, of the value of at least $1,000. For the purpose of this chapter, a person who owns stock or investment certificates as a joint tenant with one other person shall be deemed to own, in his or her own right, one-half of the stock or investment certificates.

5. Sells or hypothecates all the stock or investment certificates owned by him or her, or so much thereof that he or she ceases to be the owner, free from encumbrances, of the amount of stock or investment certificates required by subsection 4.
Nev. Rev. Stat. § 675.169 — NV Code / Title 55 / Chapter 675 / Section 675.169
Licensee required to register and maintain unique identifier; Commissioner authorized to issue license through Registry; references to Commissioner deemed references to Registry
Status: in_force

1. Each licensee shall register with and maintain a valid unique identifier with the Registry.

2. The Commissioner may issue a license through the Registry.

3. To the extent that the Commissioner has delegated to the Registry any of his or her duties with respect to the issuance and renewal of licenses as authorized by this chapter, any reference to the Commissioner in this chapter shall be deemed to be a reference to the Registry.

4. As used in this section, “ unique identifier ” means a number or other identifier assigned by the protocols established by the Registry.
Nev. Rev. Stat. § 675.340 — NV Code / Title 55 / Chapter 675 / Section 675.340
Assignment of wages as security invalid
Status: in_force

No assignment of wages, salary, commissions or other compensation for services, whether earned or to be earned, given to a licensee as security for a loan under this chapter, shall be valid.
Nev. Rev. Stat. § 676A.360 — NV Code / Title 55 / Chapter 676A / Section 676A.360
Commissioner to approve or deny registration within certain period; extension to obtain additional information; appeal of denial
Status: in_force

1. The Commissioner shall approve or deny an initial registration as a provider within 120 days after an application is filed. In connection with a request pursuant to subsection 18 of NRS 676A.320 for additional information, the Commissioner may extend the 120-day period for not more than 60 days. Within 7 days after denying an application, the Commissioner, in a record, shall inform the applicant of the reasons for the denial.

2. If the Commissioner denies an application for registration as a provider or does not act on an application within the time prescribed in subsection 1, the applicant may appeal and request a hearing pursuant to NRS 233B.121 to 233B.150 , inclusive.
Nev. Rev. Stat. § 666A.130 — NV Code / Title 55 / Chapter 666A / Section 666A.130
State representative office: Prerequisites to issuance of license; issuance and contents of license
Status: in_force

1. A foreign bank making an application for a license to establish and maintain a state representative office must deliver to the Commissioner two duplicate originals of the application.

2. The Commissioner shall issue a license to a foreign bank to establish and maintain a state representative office if the Commissioner finds that: (a) The foreign bank is of good character and sound financial standing; (b) The management of the foreign bank and the proposed management of the state representative office are adequate; and (c) The convenience and needs of persons to be served by the proposed state representative office will be advantageously served.

3. If the Commissioner determines to issue a license to a foreign bank to establish and maintain a state representative office, the Commissioner shall, when all fees have been paid as required by this chapter, issue the license.

4. Each license issued to a foreign bank to establish and maintain a state representative office must state fully the name of the foreign bank to which the license is issued, the address or addresses at which the state representative office is to be located and such other information as the Commissioner may require.
Nev. Rev. Stat. § 660.075 — NV Code / Title 55 / Chapter 660 / Section 660.075
Application to establish office for mechanical teller; fee for application; annual fee; regulations
Status: in_force

1. An application for authority to establish and operate one or more offices for mechanical tellers must be made to the Commissioner on the form prescribed by the Commissioner and accompanied by a fee of not more than $200 per teller. If the Commissioner approves the application, the financial institution must pay an annual fee of not more than $100 for each mechanical teller that it operates.

2. The Commissioner shall adopt regulations establishing the amount of the fees required pursuant to this section.
Nev. Rev. Stat. § 660.225 — NV Code / Title 55 / Chapter 660 / Section 660.225
Applicability
Status: in_force

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 exists for the sole purpose of providing an enclosure for the automated teller; or (b) Except to the extent a transaction can be conducted from outside the building.

2. Located in any area, including a building, which is not controlled by the operator.
Nev. Rev. Stat. § 677.410 — NV Code / Title 55 / Chapter 677 / Section 677.410
Preparation of annual reports and financial statements; special reports; extensions; removal of qualification
Status: in_force

1. The annual reports and financial statements required by this chapter must be prepared in accordance with generally accepted accounting principles and must be accompanied by a report, certificate, or opinion of an independent certified public accountant or independent public accountant, and must contain such relevant information as the Commissioner may require. The audits must be conducted in accordance with generally accepted auditing standards and the regulations of the Commissioner.

2. A licensee shall make other special reports to the Commissioner as the Commissioner may from time to time require.

3. For good cause and upon written request, the Commissioner may extend the time for compliance with the provisions of this chapter.

4. If the report, certificate or opinion of the independent accountant is in any way qualified, the Commissioner may require the company to take such action as he or she deems appropriate to permit an independent accountant to remove such qualification from the report, certificate or opinion.
Nev. Rev. Stat. § 673.280 — NV Code / Title 55 / Chapter 673 / Section 673.280
Certain federal obligations are legal investments
Status: in_force

Any savings bank may invest its funds, or money in its custody, in the bonds of any Federal Home Loan Bank or Federal Reserve Bank, or in consolidated Federal Home Loan Bank or Federal Reserve Bank bonds, debentures or notes, or in farm loan bonds, consolidated farm loan bonds, debentures, consolidated debentures and other obligations issued by federal land banks and federal intermediate credit banks under the authority of the Farm Credit Act of 1971, 12 U.S.C. §§ 2001 to 2259 , inclusive, as amended or supplemented, and the bonds, debentures, consolidated debentures and other obligations issued by banks for cooperatives under the authority of the Farm Credit Act, formerly 12 U.S.C. §§ 1131 to 1138e , inclusive, and the Farm Credit Act of 1971, 12 U.S.C. §§ 2001 to 2259 , inclusive, as amended or supplemented.
Nev. Rev. Stat. § 666A.260 — NV Code / Title 55 / Chapter 666A / Section 666A.260
State branch: Maintenance of reserve against deposits
Status: in_force

1. Except as otherwise provided in subsection 2, a foreign bank which is licensed to establish and maintain a state branch shall at all times maintain a reserve against the deposits of the state branch as may from time to time be required to be maintained, pursuant to regulations issued by the Board of Governors of the Federal Reserve System, by a Nevada bank which is a member of the Federal Reserve System. The reserve must be maintained with a Nevada bank or national bank which the foreign bank designates and the commissioner approves.

2. A foreign bank which is required to maintain reserves pursuant to the authority granted the Board of Governors of the Federal Reserve System in section 7(a)(1)(B) of the federal International Banking Act ( 12 U.S.C. § 3105(a)(1)(B) ) is exempt from the requirements of this section.
Nev. Rev. Stat. § 658.165 — NV Code / Title 55 / Chapter 658 / Section 658.165
Officers and employees of Division of Financial Institutions prohibited from having interest in certain banks; exceptions; termination of interest
Status: in_force

1. Except as otherwise provided in subsections 3 and 4, an officer or employee of the Division of Financial Institutions shall not be directly or indirectly interested in or act on behalf of any bank chartered by this State, receive, directly or indirectly, any payment from any such bank, be indebted to any state bank, engage in the negotiation of loans for others with any such bank or obtain credit or services from a state bank conditioned upon a fraudulent practice or undue or unfair preference over other customers.

2. An employee of the Division of Financial Institutions in the unclassified service of the State shall not obtain new extensions of credit from a state bank while in office.

3. Any officer or employee of the Division of Financial Institutions may be indebted to a bank on the same terms as are available to the public generally upon: (a) A mortgage loan upon his or her own real property. (b) A secured installment debt. (c) An unsecured debt.

4. Any officer or employee of the Division of Financial Institutions may establish and maintain deposits with banks to the greatest amount insured, receive interest on those deposits and borrow money secured by a pledge of those deposits.

5. If an officer or employee of the Division of Financial Institutions has a service, a preferred consideration, an interest or a relationship prohibited by this section at the time of his or her appointment or employment, or obtains it during his or her employment, he or she shall terminate it within 120 days after the date of his or her appointment or employment or the discovery of the prohibited act.
Nev. Rev. Stat. § 677.790 — NV Code / Title 55 / Chapter 677 / Section 677.790
Powers of licensee
Status: in_force

Except as provided in NRS 677.770 , a licensee may:

1. Make loans secured by, and purchase, sell or discount in any amount: (a) Bona fide trust receipts; (b) Secured choses in action; (c) Chattel mortgages; (d) Conditional sales contracts; (e) Security agreements; (f) Leases; (g) Lien contracts; and (h) Deeds of trust.

2. Accept deposits, including deposits payable on demand and time deposits, and issue certificates of deposit.

3. Enter into leases and purchase equipment for those leases.
Nev. Rev. Stat. § 676A.510 — NV Code / Title 55 / Chapter 676A / Section 676A.510
Provider to maintain toll-free communication system
Status: in_force

A provider that is required to be registered under this chapter shall maintain a toll-free communication system, staffed at a level that reasonably permits an individual to speak to a certified counselor, certified debt specialist or customer service representative, as appropriate, during ordinary business hours.
Nev. Rev. Stat. § 673.207 — NV Code / Title 55 / Chapter 673 / Section 673.207
Directors: Number; filling of vacancies; amendment of bylaws
Status: in_force

1. The business and affairs of every savings bank must be managed and controlled by a board of not less than five nor more than 25 directors, a majority of which must not be full-time officers of the savings bank. The persons designated in the articles of incorporation are the first directors.

2. Vacancies in the board of directors must be filled by vote of the stockholders at the annual meetings or at a special meeting called for that purpose. The board of directors may fill vacancies occurring on the board, such appointees to serve until the next annual meeting of the stockholders.

3. The board of directors of a savings bank may amend the bylaws of the savings bank.
Nev. Rev. Stat. § 673.787 — NV Code / Title 55 / Chapter 673 / Section 673.787
“Older person” defined
Status: in_force

“ Older person ” has the meaning ascribed to it in NRS 200.5092 .
Nev. Rev. Stat. § 669A.180 — NV Code / Title 55 / Chapter 669A / Section 669A.180
Certain provisions required in articles of incorporation, certificate of incorporation or articles of organization of domestic family trust company; limitation on use of certain names by foreign trust company
Status: in_force

1. If a licensed family trust company is organized under the laws of this State as a corporation or limited-liability company, the articles of incorporation, certificate of incorporation or articles of organization must contain: (a) The name adopted by the licensed family trust company, which must be such as to distinguish it from any other trust company formed or incorporated in this State, or engaged in the business of a trust company or licensed family trust company in this State; and (b) The purpose for which it is formed.

2. The provisions of subsection 1 do not apply to a licensed family trust company which is licensed or chartered to do business as a trust company under the laws of another state, but the licensed family trust company must use a name that distinguishes it from any other trust company organized as or conducting the business of: (a) A trust company; or (b) A licensed family trust company, in this State.
Nev. Rev. Stat. § 669.087 — NV Code / Title 55 / Chapter 669 / Section 669.087
License as retail trust company not transferable; change in control required to be reported; application; investigation fee
Status: in_force

1. A license issued pursuant to this chapter is not transferable or assignable, but upon approval of the Commissioner, a licensee may merge or consolidate with, or transfer its assets and control to, another entity that has been issued a license under this chapter. In making a determination regarding whether to grant such approval, the Commissioner may consider the factors set forth in paragraphs (a) to (m), inclusive, of subsection 2 of NRS 669.085 .

2. If there is a change in control of any retail trust company, the chief executive officer or managing member of the retail trust company shall report the fact and the person obtaining control to the Commissioner within 5 business days after obtaining knowledge of the change.

3. A retail trust company shall, within 5 business days after there is a change in the chief executive officer, managing member or a majority of the directors or managing directors of the retail trust company, report the change to the Commissioner. The retail trust company shall include in its report a statement of the past and current business and professional affiliations of each new chief executive officer, managing member, director or managing director. A new chief executive officer, managing member, director or managing director shall furnish to the Commissioner a complete financial statement on a form prescribed by the Commissioner.

4. A person who intends to acquire control of a retail trust company shall submit an application to the Commissioner. The application must be submitted on a form prescribed by the Commissioner. The Commissioner shall conduct an investigation pursuant to NRS 669.160 to determine whether the person has a good reputation for honesty, trustworthiness and integrity and is competent to control the trust company in a manner which protects the interests of the general public.

5. The retail trust company with which the applicant described in subsection 4 is affiliated shall pay the nonrefundable cost of the investigation as the Commissioner requires. If the Commissioner denies the application, the Commissioner may forbid or limit the applicant's participation in the business of the trust company.

6. As used in this section, “ control ” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policy of a retail trust company, or a change in the ownership of at least 25 percent of the outstanding voting stock of, or participating members' interest in, a retail trust company.
Nev. Rev. Stat. § 672.284 — NV Code / Title 55 / Chapter 672 / Section 672.284
Suspension or revocation of license: Additional grounds
Status: in_force

In addition to any other lawful reasons, the Commissioner may suspend or revoke a license if the licensee has engaged in any act that would be grounds for denying a license pursuant this chapter.
Nev. Rev. Stat. § 657.026 — NV Code / Title 55 / Chapter 657 / Section 657.026
“Commissioner” defined
Status: in_force

“Commissioner” means the Commissioner of Financial Institutions.
Nev. Rev. Stat. § 668.075 — NV Code / Title 55 / Chapter 668 / Section 668.075
Limitation on advertising or publishing statement of stock
Status: in_force

A bank or an officer or manager of a bank shall not advertise in any manner or publish any statement of the stock authorized or subscribed, unless the amount of stock actually paid up is advertised or published with the advertisement or statement.
Nev. Rev. Stat. § 665.075 — NV Code / Title 55 / Chapter 665 / Section 665.075
Nature, review and disclosure of contents of report
Status: in_force

1. The report of examination made by an examiner of the Division of Financial Institutions is designed for use in the supervision of the bank. The bank's copy of the report is the property of the Commissioner and is furnished to the bank solely for its confidential use.

2. The bank's directors or managers, in keeping with their responsibilities both to depositors and to stockholders or members, shall thoroughly review the report. Under no circumstances may the bank, or any of its directors, managers, officers or employees disclose or make public in any manner the report or any portion thereof. The report must not be made available to other banking institutions in connection with proposed transactions such as mergers and consolidations. The report must not be made available to a clearing house association, but a bank may voluntarily disclose information concerning its affairs to a clearing house association where a disclosure is through reports prepared by the bank or by others at the request of the bank.
Nev. Rev. Stat. § 673.090 — NV Code / Title 55 / Chapter 673 / Section 673.090
Provisions of chapter abridge, enlarge and modify powers and privileges of foreign and domestic savings banks
Status: in_force

The powers, privileges, duties and restrictions conferred and imposed upon any such savings bank, company or corporation, whether foreign or domestic, existing or doing business under the laws of this state are hereby abridged, enlarged or modified, as each particular case may require, to conform to the provisions of this chapter, notwithstanding anything to the contrary in their respective articles of incorporation or charters.
Nev. Rev. Stat. § 677.125 — NV Code / Title 55 / Chapter 677 / Section 677.125
“Stockholders' equity” defined
Status: in_force

“Stockholders' equity” means the capital, surplus and retained earnings of a licensee.
Nev. Rev. Stat. § 667.215 — NV Code / Title 55 / Chapter 667 / Section 667.215
Conditions under which banks may reopen
Status: in_force

When the Commissioner or the Federal Deposit Insurance Corporation has taken possession of any bank, the bank may, with the consent of the Commissioner, resume business upon such terms and conditions as may be approved by the Commissioner and the Federal Deposit Insurance Corporation.
Nev. Rev. Stat. § 677.612 — NV Code / Title 55 / Chapter 677 / Section 677.612
Authority to accept deposit by fiduciary in trust; payment to fiduciary of withdrawal value and interest
Status: in_force

1. A deposit may be made with a licensee by any administrator, executor or guardian of an estate, a trustee or other fiduciary in trust for a named beneficiary or beneficiaries.

2. The fiduciary may make additional deposits and withdraw the deposit, in whole or in part.

3. The withdrawal value of the deposit and the interest thereon, or other rights relating to the deposit, may be paid or delivered to the fiduciary, and the payment or delivery to the fiduciary or a receipt or acquittance signed by the fiduciary to whom any payment or delivery of rights is made, is a valid and sufficient release and discharge of the licensee for the payment or delivery so made.
Nev. Rev. Stat. § 673.065 — NV Code / Title 55 / Chapter 673 / Section 673.065
Applicability of provisions concerning Regulatory Experimentation Program for Product Innovation
Status: in_force

Except as otherwise required by the Director of the Department of Business and Industry pursuant to NRS 657A.430 or 657A.620 , the provisions of this chapter do not apply to a participant in the Regulatory Experimentation Program for Product Innovation established and administered pursuant to chapter 657A of NRS .
Nev. Rev. Stat. § 676A.220 — NV Code / Title 55 / Chapter 676A / Section 676A.220
“Record” defined
Status: in_force

“ Record ” means information which is inscribed on a tangible medium or which is stored in an electronic or other medium and is retrievable in perceivable form.
Nev. Rev. Stat. § 665.133 — NV Code / Title 55 / Chapter 665 / Section 665.133
Disclosure of reports and other information obtained from depository institutions; use of information
Status: in_force

1. The records and information described in NRS 665.130 may be disclosed to: (a) An agency of the Federal Government or of another state which regulates the financial institution which is the subject of the records or information; (b) The Director of the Department of Business and Industry for the Director's confidential use; (c) The State Board of Finance for its confidential use, if the report or other information is necessary for the State Board of Finance to perform its duties under chapters 657 to 671, inclusive, of NRS; (d) The Department of Taxation for its use in carrying out the provisions of chapters 363A and 363C of NRS; (e) An entity which insures or guarantees deposits; (f) A public officer authorized to investigate criminal charges in connection with the affairs of the depository institution; (g) A person preparing a proposal for merging with or acquiring an institution or holding company, but only after notice of the disclosure has been given to the institution or holding company; (h) Any person to whom the subject of the report has authorized the disclosure; (i) Any other person if the Commissioner determines, after notice and opportunity for hearing, that disclosure is in the public interest and outweighs any potential harm to the depository institution and its stockholders, members, depositors and creditors; and (j) Any court in a proceeding initiated by the Commissioner concerning the financial institution.

2. All the reports made available pursuant to this section remain the property of the Division of Financial Institutions, and no person, agency or authority to whom the reports are made available, or any officer, director or employee thereof, may disclose any of the reports or any information contained therein, except in published statistical material that does not disclose the affairs of any natural person or corporation.
Nev. Rev. Stat. § 670B.320 — NV Code / Title 55 / Chapter 670B / Section 670B.320
Change in information provided in application for issuance or renewal of license: Notice to Commissioner required
Status: in_force

A licensee or an applicant for a license shall notify the Commissioner, in writing, of any change in the information provided in the initial application for a license or the most recent application for renewal of such a license, as applicable, not later than 10 business days after the occurrence of the event that results in such information becoming inaccurate.
Nev. Rev. Stat. § 669A.250 — NV Code / Title 55 / Chapter 669A / Section 669A.250
Fidelity bonds; insurance
Status: in_force

1. The directors or managers of a licensed family trust company shall obtain fidelity bonds in such amounts as they shall determine on any active officers, managers, members acting in a managerial capacity and employees, whether or not they receive a salary or other compensation from the licensed family trust company, to indemnify the licensed family trust company against loss because of any dishonest, fraudulent or criminal act or omission by any of the persons bonded, acting alone or in combination with any other person. The bonds may be in any form and may be paid for by the licensed family trust company.

2. A licensed family trust company may also procure property and casualty insurance of a nature and with such coverage amounts as the licensed family trust company deems advisable.
Nev. Rev. Stat. § 666.055 — NV Code / Title 55 / Chapter 666 / Section 666.055
Fiduciary powers and liabilities of banks merging or transferring assets and liabilities
Status: in_force

When any bank organized under the laws of this state or Acts of Congress, and doing business in this state, consolidates or merges with or sells to and transfers its assets and liabilities to any other bank doing business in this state, as provided by the laws of this state or Acts of Congress, all the then existing fiduciary rights, powers, duties and liabilities of such consolidating, merging or transferring bank or banks shall, upon the effective date of such consolidation, merger or sale and transfer, vest in and thereafter be performed by the transferee bank or the consolidated or merged bank.
Nev. Rev. Stat. § 673.5912 — NV Code / Title 55 / Chapter 673 / Section 673.5912
Federal Deposit Insurance Corporation authorized to act as receiver or liquidator of closed savings bank having insured deposits; no bond required
Status: in_force

1. The Federal Deposit Insurance Corporation created by the Federal Deposit Insurance Act, 12 U.S.C. § 1811 , may act without bond as receiver or liquidator of any savings bank which: (a) Has been closed because of inability to meet the demands of its depositors; or (b) Is insured by the Federal Deposit Insurance Corporation and has been taken possession of by the Commissioner pursuant to NRS 658.151 .

2. The appropriate state authority having the right to appoint a receiver or liquidator of a savings bank may, upon such closing, tender to the Federal Deposit Insurance Corporation the appointment as receiver or liquidator of such savings bank. If the Federal Deposit Insurance Corporation accepts the appointment, it shall have and possess all the powers and privileges provided by the laws of this State with respect to a receiver or liquidator, respectively, of a savings bank, its depositors and other creditors, and is subject to all the duties of such receiver or liquidator, except insofar as such powers, privileges or duties are in conflict with the provisions of the Federal Deposit Insurance Act.
Nev. Rev. Stat. § 669.206 — NV Code / Title 55 / Chapter 669 / Section 669.206
Authority of Commissioner to require an approved foreign independent trust company to maintain a surety bond; amount and form of bond; cancellation of bond
Status: in_force

1. As a condition to engaging in the solicitation of trust company business in this State pursuant to NRS 669.205 , the Commissioner may require a foreign independent trust company to maintain a surety bond payable to the Division of Financial Institutions in an amount not less than $100,000, plus any additional amount determined by the Commissioner to be appropriate for the size, complexity and inherent risk of the foreign independent trust company.

2. A surety bond required pursuant to subsection 1 is for the exclusive use and benefit of the Division and any customer receiving the services of the foreign independent trust company.

3. Each surety bond must: (a) Be in a form satisfactory to the Commissioner; (b) Be issued by a bonding company authorized to do business in this State; and (c) Secure the faithful performance of the obligations of the foreign independent trust company respecting the services provided to residents of this State.

4. A foreign independent trust company shall, within 10 days after the commencement of any action or notice of entry of any judgment against the foreign independent trust company by any creditor or claimant arising out of business regulated by NRS 669.205 , give notice thereof to the Commissioner by certified mail with details sufficient to identify the action or judgment. The surety that executed the bond of the foreign independent trust company shall, within 10 days after it pays any claim or judgment to a creditor or claimant, give notice thereof to the Commissioner by certified mail with details sufficient to identify the creditor or claimant and the claim or judgment so paid.

5. Whenever the principal sum of the surety bond is reduced by payments thereon less any recoveries, the foreign independent trust company shall furnish: (a) A new or additional surety bond so that the total or aggregate principal sum of the bonds equals the sum required pursuant to this section; or (b) An endorsement, duly executed by the surety reinstating the bond to the required principal sum.

6. The liability of the surety on a bond to the Division for a creditor or claimant of the foreign independent trust company is not affected by: (a) Any misrepresentation, breach of warranty, failure to pay a premium or other act or omission of the foreign independent trust company; or (b) Any insolvency or bankruptcy of the foreign independent trust company.

7. The liability of the surety continues as to all transactions entered into in good faith by the creditors and claimants with the agents of the foreign independent trust company within 30 days after: (a) The withdrawal from this State of the foreign independent trust company or the dissolution or liquidation of the foreign independent trust company; or (b) The termination of the bond, whichever occurs first.

8. A foreign independent trust company or its surety shall not cancel or alter a bond except after providing notice to the Commissioner by certified mail. The cancellation or alteration must not become effective until 10 days after receipt of the notice by the Commissioner. A cancellation or alteration does not affect any liability incurred or accrued on the bond from inception of the surety bond to the expiration of the 30-day period designated in subsection 7.
Nev. Rev. Stat. § 669A.300 — NV Code / Title 55 / Chapter 669A / Section 669A.300
Willful neglect to perform duties imposed by law or failure to conform to material lawful requirement made by Commissioner; removal
Status: in_force

Each officer, director, manager, member, employee or agent of a licensed family trust company who, following written notice from the Commissioner sent by certified mail, knowingly or willfully:

1. Neglects to perform any duty required by this chapter or other applicable law; or

2. Fails to conform to any material lawful requirement made by the Commissioner,

is subject to removal upon order of the Commissioner.
Nev. Rev. Stat. § 677.020 — NV Code / Title 55 / Chapter 677 / Section 677.020
Definitions
Status: in_force

As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 677.030 to 677.140 , inclusive, have the meanings ascribed to them in those sections.
Nev. Rev. Stat. § 672.240 — NV Code / Title 55 / Chapter 672 / Section 672.240
“Withdrawal” defined
Status: in_force

“Withdrawal” means payment to a party or a third person pursuant to a directive of a party.
Nev. Rev. Stat. § 671.0145 — NV Code / Title 55 / Chapter 671 / Section 671.0145
“Outstanding money transmission obligation” defined
Status: in_force

1. “ Outstanding money transmission obligation ” means: (a) Any payment instrument or stored value issued or sold by a licensee to a person located in the United States or reported as sold by an authorized delegate of the licensee to a person that is located in the United States that has not yet been paid or refunded by or for the licensee or escheated in accordance with applicable abandoned property laws; or (b) Any money or credits received for transmission by a licensee or an authorized delegate in the United States from a person located in the United States that has not yet been received by the payee or refunded to the sender or escheated in accordance with the applicable abandoned property laws.

2. For the purposes of this section, a person is located in the United States if the person is located in any state, territory or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico or a United States military installation that is located in a foreign country.
Nev. Rev. Stat. § 669A.070 — NV Code / Title 55 / Chapter 669A / Section 669A.070
“Family member” defined
Status: in_force

1. “ Family member ” includes, without limitation, the designated relative and: (a) Any person within the tenth degree of lineal kinship of the designated relative; (b) Any person within the ninth degree of collateral kinship to the designated relative; (c) Any nonfamily member who is an individual beneficiary under a will or trust created by a family member specified in paragraph (a) or (b), including the spouse and issue of that person; (d) The spouse and any former spouse of the designated relative or of any person qualifying as a family member pursuant to paragraph (a) or (b); (e) A person who is a relative of a spouse or former spouse specified in paragraph (c) or (d) who is within the fifth degree of lineal kinship of the spouse or former spouse; (f) A family affiliate and the officers, managers and directors of that family affiliate and their immediate families; (g) An inter vivos or testamentary trust established by a family member either individually or jointly with a spouse or third party and any trustee, advisor or other person assisting with administration of that trust; (h) An inter vivos or testamentary trust established by a person who is not a family member if noncharitable beneficiaries of that trust include family members; (i) The estate of a family member; (j) The estate of a nonfamily member if the noncharitable beneficiaries of that estate include family members; and (k) A charitable foundation, a charitable trust or charitable entity of which a family member is an organizer, incorporator, officer, member of the governing board, trustee, major donor or noncharitable beneficiary and the officers, directors, individual trustees and managers of that foundation, trust or entity and their immediate families.

2. For the purposes of this section: (a) A family member is not a member of the public; (b) A legally adopted person must be treated as a natural child of the adoptive parents; (c) A stepchild must be treated as a natural child of the family member who is or was the stepparent of that child; (d) Children of a spouse of a family member must be treated as a natural child of that family member; and (e) Degrees are calculated by adding the number of steps from the designated relative through each person to the family member either directly, in the case of lineal kinship, or through the common ancestor, in the case of collateral kinship.

3. As used in this section: (a) “ Collateral kinship ” means a relationship that is not lineal, but stems from a common ancestor. (b) “ Lineal kinship ” means a family member who is in the direct line of ascent or descent from the designated relative.
Nev. Rev. Stat. § 666.315 — NV Code / Title 55 / Chapter 666 / 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; regulations
Status: in_force

1. An application filed with the Commissioner for approval must be on a form prescribed by the Commissioner and must include: (a) A nonrefundable fee of not more than $6,000 for the application. The depository institution or holding company must also pay such additional expenses incurred in the process of investigation as the Commissioner deems necessary. All money received by the Commissioner pursuant to this section must be placed in the Investigative Account created by NRS 232.545 . (b) Information which the Commissioner requires to make the findings specified in subsection 4. (c) Unless the applicant is a resident of Nevada, a corporation organized in this State or a foreign corporation admitted to do business in this State, a written consent to service of process on a resident of this State in any action arising out of the applicant's activities in this State.

2. In reviewing the application, the Commissioner shall consider the applicant's record of compliance with the Community Reinvestment Act of 1977, 12 U.S.C. §§ 2901 to 2905 , inclusive, and whether the proposed transaction will meet the needs of those counties whose populations are less than 100,000 and whose residents are not being adequately served by existing financial institutions.

3. The Commissioner shall issue a written decision within 60 days after receiving a completed application. The Commissioner may approve the application subject to any terms and conditions which the Commissioner considers necessary to protect the public interest.

4. The Commissioner shall disapprove an application if the Commissioner finds: (a) That the proposed transaction would be detrimental to the safety and soundness of the applicant, to any institution which is a party to the transaction, or to a subsidiary or affiliate of that institution; (b) The applicant or its executive officers, directors or principal stockholders have not established a record of sound performance, efficient management, financial responsibility and integrity so that it would be against the interest of the depositors, other customers, creditors or stockholders of an institution, or the public to authorize the proposed transaction; (c) The financial condition of the applicant or any other institution which is a participant in the proposed transaction might jeopardize the financial stability of the applicant or other institution, or prejudice the interests of depositors or other customers of the applicant or other institutions; (d) The consummation of the proposed transaction will tend to lessen competition substantially, unless the Commissioner finds that the anticompetitive effects of the proposed transaction are clearly outweighed by the benefit of meeting the convenience and needs of the relevant market to be served; or (e) The applicant has not established a record of meeting the needs for credit of the communities which it or its subsidiary depository institution serves.

5. The Commissioner shall adopt regulations establishing the amount of the application fee required pursuant to this section.
Nev. Rev. Stat. § 676A.340 — NV Code / Title 55 / Chapter 676A / Section 676A.340
Commissioner to make certain information available; certain information confidential
Status: in_force

1. Except as otherwise provided in subsection 2, the Commissioner shall make the information in an application for registration as a provider available to the public.

2. Except as otherwise provided in NRS 239.0115 , the information required by subsections 7 and 16 of NRS 676A.320 and the addresses required by subsection 4 of NRS 676A.320 are confidential and not subject to inspection by the general public.
Nev. Rev. Stat. § 677.500 — NV Code / Title 55 / Chapter 677 / Section 677.500
Temporary suspension of license: Conditions; notice; hearing; term of suspension
Status: in_force

If the Commissioner finds that probable cause for revocation of any license exists and that enforcement of this chapter requires immediate suspension of a license pending investigation, he or she may, upon 5 days' written notice and without a hearing, enter an order suspending a license for a period not exceeding 20 days pending the holding of a hearing.
Nev. Rev. Stat. § 666.003 — NV Code / Title 55 / Chapter 666 / Section 666.003
“Control” defined
Status: in_force

“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 of a majority of the directors or trustees of an institution; or

2. Vote: (a) Twenty percent or more of any class of voting securities of a depository institution if exercised by a natural person; or (b) More than 10 percent of any class of voting securities of a depository institution if exercised by a person other than a natural person.
Nev. Rev. Stat. § 673.112 — NV Code / Title 55 / Chapter 673 / Section 673.112
Branch offices: Definition; establishment and regulation; revocation of approval by Commissioner; advertisement; fees; regulations
Status: in_force

1. A branch office is a legally established place of business of a savings bank, other than the main office, which is authorized by the board of directors and approved by the Commissioner and at which any of the business of the savings bank may be conducted.

2. All branch offices are subject to direction from the main office.

3. No savings bank may establish or maintain a branch office without prior written approval of the Commissioner. Each application for approval of the establishment and maintenance of a branch office must: (a) State the proposed location thereof, the need therefor, the functions to be performed therein, the estimated annual expense thereof and the mode of payment therefor. (b) Be accompanied by a budget of the savings bank for the current semiannual period and for the next succeeding semiannual period, which reflects the estimated additional expense of the maintenance of the branch office.

4. After receipt of an application the Commissioner shall determine: (a) Whether the establishment and maintenance of the branch office will unduly injure any properly conducted existing savings bank in the community where the branch office is proposed to be established or in any neighboring community; and (b) Whether or not the establishment and maintenance of the branch office will serve the public interest.

5. Before issuance of a charter for a branch office, the Commissioner shall notify all savings banks doing business within a radius of 100 miles of the principal place of business of the applicant, and within a radius of 100 miles of the proposed branch office. Any savings bank so notified may, within 20 days, protest in writing the granting of the application. Within 30 days after receipt by the Commissioner of a written protest, the Commissioner shall fix a date for a hearing upon the protest. The hearing must be held not earlier than 60 days nor more than 90 days after the date of receipt of written notice by registered or certified mail by the parties.

6. If the Commissioner finds that no undue injury is likely to result, that the establishment and maintenance of the branch office is advisable and will serve the public interest, he or she may approve the application.

7. Approval of a savings bank's application for a branch office charter permits the savings bank to establish an operating office in a temporary or a permanent building, if the building is placed on or erected at the approved location within 12 months after the approval.

8. For good cause and after notice to the savings bank, the Commissioner may revoke his or her approval for the maintenance of a branch office. Failure to establish a branch office in the manner and within the time permitted under this section constitutes a good cause for revocation, unless a prior, written request for a waiver of the time limitation is sought by the savings bank and an extension, in writing, is granted by the Commissioner.

9. A savings bank which maintains one or more branch offices shall give each branch office a specific designation by name and include in the designation the word “branch” and shall prominently display the designation at the place of business of the branch. When a savings bank is operating a branch office, all advertising of or by the branch office must state clearly the location of the main office of the savings bank.

10. The filing fees are: (a) For filing an original application, not more than $400 for each branch office. The applicant shall also pay such additional expenses incurred in the process of investigation as the Commissioner deems necessary. All money received by the Commissioner pursuant to this subsection must be placed in the Investigative Account for Financial Institutions created by NRS 232.545 . (b) If the license is approved for issuance, not more than $200 for each branch office before issuance.

11. The Commissioner shall adopt regulations establishing the amount of the filing fees required pursuant to this section.
Nev. Rev. Stat. § 677.570 — NV Code / Title 55 / Chapter 677 / Section 677.570
Authority of Commissioner to liquidate or conserve company
Status: in_force

When the Commissioner takes possession of the property and business of any company for the purpose of liquidation or conservation, he or she may liquidate or conserve the company. In such a liquidation or conservation the Commissioner has the same authority with reference to licensees as are vested in the Commissioner by chapters 657 to 671, inclusive, of NRS with reference to banks and in addition may deposit money coming into his or her hands in the course of liquidation in one or more state or national banks or credit unions.
Nev. Rev. Stat. § 669A.010 — NV Code / Title 55 / Chapter 669A / Section 669A.010
Declaration of legislative intent
Status: in_force

The Legislature finds as facts and determines that:

1. There exists a need to modernize trust company laws in Nevada to make Nevada more competitive in attracting new business, for Nevada to remain competitive with a majority of other states that have modernized their laws and to ensure the safety and soundness of all trust companies licensed pursuant to the provisions of this chapter or chapter 669 of NRS .

2. Unlike the public trust companies required to be licensed pursuant to the provisions of chapter 669 of NRS , family trust companies do not engage or seek to engage in a trust company business with the public but rather serve solely the interests of members and related parties of a single family and the grantors and beneficiaries of trust instruments created for the purposes of estate planning for the family members. Consequently, there is no public interest to be protected or furthered and requiring the licensing of family trust companies will not promote the public advantage and convenience. There are, however, reasons that some family trust companies may wish to obtain state licensing and appropriate supervision under trust company law.

3. It is the purpose of this chapter to: (a) Define those persons who are engaged in or who desire to provide fiduciary services to a single family and its related interests as a family trust company and who are not doing trust company business with the public or offering services to the general public; and (b) Bring under public supervision only those family trust companies desiring the benefits of being licensed pursuant to the provisions of this chapter or chapter 669 of NRS .
Nev. Rev. Stat. § 657A.220 — NV Code / Title 55 / Chapter 657A / Section 657A.220
License or authorization from other jurisdiction; Director may enter into agreements concerning license or authorization
Status: in_force

1. Nothing contained in this chapter shall be deemed to prohibit a participant who holds a license or other authorization in another jurisdiction from acting in accordance with that license or authorization.

2. The Director may enter into an agreement with any governmental agency or official of any other jurisdiction to authorize: (a) A participant to operate in such a jurisdiction; or (b) A person who is authorized to operate in such a jurisdiction to be a participant.
Nev. Rev. Stat. § 662.245 — NV Code / Title 55 / Chapter 662 / Section 662.245
Conditions and limitations on certain foreign organizations acting as fiduciary; fees; bond; requirements for service of process; regulations
Status: in_force

1. Except as otherwise provided in NRS 669.207 , an organization that does not maintain an office in this State to conduct the business of a trust company may be appointed to act as fiduciary by any court or by authority of any law of this State if, in addition to any other requirements of law, the organization: (a) Associates as cofiduciary a bank authorized to do business in this State or a trust company licensed pursuant to chapter 669 of NRS ; or (b) Is a trust corporation or trust company which: (1) Is organized under the laws of and has its principal place of business in another state which allows trust corporations or trust companies licensed pursuant to chapter 669 of NRS to act as fiduciary in that state; (2) Is authorized by its charter to act as fiduciary; and (3) Before the appointment as fiduciary, files with the Secretary of State a document, acknowledged before a notarial officer, which: (I) Appoints the Secretary of State as its agent upon whom all process in any action or proceeding against it may be served; (II) Contains its agreement that the appointment continues in force as long as any liability remains outstanding against it in this State, and that any process against it which is served on the Secretary of State is of the same legal validity as if served on it personally; (III) Contains an address to which the Secretary of State may mail the process when received; and (IV) Is accompanied by a fee of not more than $20. A copy of the document required by this subparagraph, certified by the Secretary of State, is sufficient evidence of the appointment and agreement.

2. A court which has jurisdiction over the accounts of a fiduciary that is a trust corporation or trust company described in paragraph (b) of subsection 1 may require the fiduciary to provide a bond to ensure the performance of its duties as fiduciary, in the same manner and to the same extent as the court may require such a bond from a fiduciary that is a bank or trust company described in paragraph (a) of subsection 1.

3. Service of process authorized by subparagraph (3) of paragraph (b) of subsection 1 must be made by filing with the Secretary of State: (a) Two copies of the legal process. The copies must include a specific citation to the provisions of this section. The Secretary of State may refuse to accept such service if the proper citation is not included in each copy. (b) A fee of not more than $20. The Secretary of State shall forthwith forward one copy of the legal process to the organization, by registered or certified mail prepaid to the address provided in the document filed pursuant to subparagraph (3) of paragraph (b) of subsection 1.

4. The Commissioner shall adopt regulations establishing the amount of the fees required pursuant to this section.

5. As used in this section: (a) “ Fiduciary ” means an executor, commissioner, guardian of minors or estates, receiver, depositary or trustee. (b) “Notarial officer” has the meaning ascribed to it in NRS 240.005 . (c) “ State ” means any state or territory of the United States or the District of Columbia.
Nev. Rev. Stat. § 675.299 — NV Code / Title 55 / Chapter 675 / Section 675.299
Review and evaluation of operations required at least annually
Status: in_force

A licensee who authorizes any employee to engage in the business of lending in this State at a remote location shall, at least once each year, conduct a review and evaluation of the operations of the licensee which are conducted by employees working at remote locations to determine whether such operations comply with the provisions of NRS 675.2965 to 675.299 , inclusive. The Commissioner may require a licensee to conduct such a review and evaluation at such other times as the Commissioner deems necessary.
Nev. Rev. Stat. § 673.228 — NV Code / Title 55 / Chapter 673 / Section 673.228
Powers, privileges and authorities of savings bank to engage in trust company business; requirements and conditions
Status: in_force

1. A savings bank shall have the powers, privileges and authorities to engage in trust company business, including engaging in fiduciary or custodial activities and establishing common trust funds, either directly or indirectly through a subsidiary, that any state bank, foreign bank, foreign savings bank, national bank or federal savings bank may exercise, subject to the requirements and conditions for engaging in such business of a trust company set forth in this section.

2. Before engaging in trust company business, a savings bank shall apply to the Commissioner on such form as he or she shall determine and pay the same fee as required for a state bank to engage in trust company business. In considering such an application, the Commissioner shall determine whether: (a) The management and personnel of the savings bank are qualified to conduct trust company business; (b) Trust company business will be adequately conducted in compliance with the law; and (c) The financial and managerial resources of the savings bank are sufficient to support the conduct of trust company business.

3. A savings bank subscribing to trustee and custodial power authorized by this section shall be required to segregate all funds held in a fiduciary or custodial capacity from the general assets of the savings bank and keep a separate set of books and records showing in proper detail all transactions engaged in under the authority of this section.

4. If individual records are kept of each self-employed individual retirement plan, all funds held in such trust or custodial capacity by the savings bank may be commingled for appropriate purposes of investment.

5. No funds held in a fiduciary capacity by a savings bank may be used by the savings bank in the conduct of its business, although such funds may be invested in or swept to the deposit accounts of the savings bank if the instrument governing the trust, retirement plan or other fiduciary account does not prohibit the funds from being invested or swept as such.

6. With respect to a fiduciary account for which a savings bank has investment discretion or discretion over distributions, the savings bank shall not allow funds awaiting investment or distribution to remain uninvested and undistributed any longer than is reasonable for the proper management of the fiduciary account and consistent with applicable law. With respect to a fiduciary account for which a savings bank has investment discretion, the savings bank shall obtain for funds awaiting investment or distribution a rate of return that is consistent with applicable law.

7. A savings bank may deposit funds of a fiduciary account that are awaiting investment or distribution in the commercial, savings or another department of the savings bank, unless prohibited by applicable law. To the extent that the funds are not insured by the Federal Deposit Insurance Corporation, the savings bank shall set aside collateral as security, under the control of appropriate fiduciary officers and employees, in accordance with subsection 8. The market value of the collateral set aside must at all times equal or exceed the amount of the uninsured fiduciary funds.

8. A savings bank may satisfy the collateral requirement of subsection 7 with any of the following: (a) Direct obligations of the United States, or other obligations fully guaranteed by the United States as to principal and interest; (b) Securities that qualify as eligible for investment by savings banks in this State under applicable law; (c) Readily marketable securities of the classes in which state banks, trust companies or other corporations exercising fiduciary powers are permitted to invest fiduciary funds under applicable state law; (d) Surety bonds, to the extent that they provide adequate security, unless prohibited by applicable law; and (e) Any other assets that qualify under applicable state law as appropriate security for deposits of fiduciary funds.

9. A savings bank, acting in its fiduciary capacity, may deposit funds of a fiduciary account that are awaiting investment or distribution with an affiliated insured depository institution, unless prohibited by applicable law. A savings bank may set aside collateral as security for a deposit by or with an affiliate of fiduciary funds awaiting investment or distribution, unless prohibited by applicable law.

10. As used in this section: (a) “ Applicable law ” means the laws of this State governing the fiduciary relationships of a savings bank, any applicable federal law governing such relationships, the terms of the instrument governing a fiduciary relationship or any court order pertaining to such a relationship. (b) “Business of a trust company” or “trust company business” has the meaning ascribed to it in NRS 669.029 . (c) “ Fiduciary account ” means an account administered by a savings bank acting in a fiduciary capacity. (d) “ Fiduciary capacity ” means: (1) Trustee; (2) Executor; (3) Administrator; (4) Registrar of stocks and bonds; (5) Transfer agent; (6) Guardian; (7) Assignee; (8) Receiver; (9) Custodian under chapter 167 of NRS ; (10) Investment advisor, if the savings bank receives a fee for its investment advice; (11) Any capacity in which the savings bank possesses investment discretion on behalf of another; or (12) Any other similar capacity that the Commissioner authorizes. (e) “ Guardian ” means a guardian or conservator of the estate of a minor, an incompetent person, an absent person or a person over whose estate a court has taken jurisdiction, other than under laws governing bankruptcy or insolvency. (f) “ Investment discretion ” means, with respect to an account, the sole or shared authority, whether or not that authority is exercised, to determine what securities or other assets to purchase or sell on behalf of the account. A savings bank that delegates its authority over investments and a savings bank that receives delegated authority over investments are both deemed to have investment discretion.
Nev. Rev. Stat. § 671.155 — NV Code / Title 55 / Chapter 671 / Section 671.155
Acquisition of control of licensee: Approval of Commissioner required; application; investigation; conditions for approval; authority of Commissioner if applicant is subject to multistate licensing process; denial; appeal; applicability
Status: in_force

1. Except as otherwise provided in NRS 671.175 , a person or group of persons acting in concert seeking to acquire control of a licensee shall obtain the approval of the Commissioner before acquiring control of the licensee. A natural person is not deemed to acquire control of a licensee and is not subject to the provisions of this section when the natural person becomes a key individual in the ordinary course of business.

2. A person or group of persons acting in concert seeking to acquire control of a licensee shall, in cooperation with the licensee, submit to the Commissioner an application in a form prescribed by the Commissioner.

3. The Commissioner may require the application submitted pursuant to subsection 2 to be submitted through the Registry or allow some or all of the information contained in the application to be submitted to the Commissioner without using the Registry.

4. The application required by subsection 2 must include the information required by NRS 671.098 for any new key individual that has not previously completed the requirements for a licensee.

5. When an applicant for acquisition of control of a licensee has submitted the application required pursuant to subsection 2 which appears to include all the items and address all of the matters that are required by the application, the application shall be considered complete. A determination by the Commissioner that an application is complete and is accepted for processing means only that the application, on its face, appears to include all of the items and address all of the matters that are required and is not an assessment of the substance of the application or of the sufficiency of the information provided.

6. When an application is filed and considered complete pursuant to this section, the Commissioner shall investigate the financial condition and responsibility, financial and business experience, competence, character and general fitness of the person or group of persons acting in concert seeking to acquire control of the licensee. The Commissioner shall approve an application for the acquisition of control pursuant to this section if the Commissioner finds that: (a) The requirements of subsections 2 and 4 have been met, as applicable; and (b) The financial condition and responsibility, financial and business experience, competence, character and general fitness of the person or group of persons acting in concert seeking to acquire control of a licensee and the competence, experience, character and general fitness of the key individuals and persons that would be in control of the licensee after the acquisition of control indicate that it is in the interest of the public to permit the person or group of persons acting in concert to control the licensee.

7. If an applicant for approval to acquire control of a licensee pursuant to this section avails himself, herself or itself of or is otherwise subject to a multistate licensing process: (a) The Commissioner may accept the investigation results of a state which is a lead investigative state in the multistate licensing process for the purposes of this section if the Commissioner determines that the state has sufficient staffing, expertise and minimum standards; and (b) If this State is a lead investigative state in the multistate licensing process, the Commissioner may investigate the applicant under the time frames established by agreement through the multistate licensing process.

8. If the Commissioner denies an application for approval to acquire control of a licensee submitted pursuant to subsection 2, the Commissioner shall issue to the applicant a formal written notice of the denial not more than 30 days after the date on which the Commissioner has made the decision to deny the application. The notice must set forth the specific reasons for the denial of the application. An applicant whose application for approval to acquire control of a licensee is denied may, not more than 30 days after the date on which the notice was issued, appeal the decision and request a hearing pursuant to NRS 233B.121 to 233B.150 , inclusive.

9. Except as otherwise provided in subsection 10, the requirements of this section do not apply to any of the following: (a) A person that acts as a proxy for the sole purpose of voting at a designated meeting of the shareholders or holders of voting shares or voting interests of a licensee or a person in control of a licensee; (b) A person that acquires control of a licensee by devise or descent; (c) A person that acquires control of a licensee as a personal representative, custodian, guardian, conservator or trustee or as an officer appointed by a court of competent jurisdiction or by operation of law; (d) A person that is exempt under this chapter; (e) A person that the Commissioner determines is not subject to this section based on the public interest; (f) A public offering of securities of a licensee or a person in control of a licensee; (g) An internal reorganization of a person in control of the licensee where the ultimate person in control of the licensee remains the same; or (h) A person described in NRS 671.175 .

10. Persons described in paragraphs (b), (c), (d), (f) and (g) of subsection 9, in cooperation with the licensee, shall notify the Commissioner within 15 days after the date on which the person acquires control of the licensee.

11. For the purposes of this section, a group of persons “act in concert” when two or more persons knowingly act together with a common goal of jointly acquiring control of a licensee, regardless of whether the persons act pursuant to an express agreement.
Nev. Rev. Stat. § 662.085 — NV Code / Title 55 / Chapter 662 / Section 662.085
Reserve not required against deposits secured by obligations of or guaranteed by United States; obligations as valid security
Status: in_force

1. A bank shall not be required to maintain a reserve against deposits secured by any obligations of the United States, its agencies or any other obligations guaranteed by the United States Government or any of its agencies equal in par value to the amount of such deposits.

2. Such obligations shall be valid security for all loans and deposits.
Nev. Rev. Stat. § 671.110 — NV Code / Title 55 / Chapter 671 / Section 671.110
Deposits in lieu of bond
Status: in_force

1. In lieu of any surety bond, or any portion of the principal sum thereof as required by this chapter, a licensee may deposit with the State Treasurer or with any bank, credit union or trust company authorized to do business in this state as the licensee may select, with the approval of the Commissioner: (a) Interest-bearing stocks; (b) Bills, bonds, notes, debentures or other obligations of the United States or any agency or instrumentality thereof, or guaranteed by the United States; or (c) Any obligation of this state or any city, county, town, township, school district or other instrumentality of this state or guaranteed by this state, in an aggregate amount of, based upon principal amount or market value, whichever is lower, of not less than the amount of the required surety bond or portion thereof.

2. The securities must be held to secure the same obligation as would the surety bond, but the depositor may receive any interest or dividends and, with the approval of the Commissioner, substitute other suitable securities for those deposited.
Nev. Rev. Stat. § 677.340 — NV Code / Title 55 / Chapter 677 / Section 677.340
Persons ineligible for licensing
Status: in_force

1. Except as otherwise provided in NRS 677.545 and chapter 666 of NRS , no person doing business under the law of: (a) Any other state; or (b) The United States if the principal office of the business is not located in Nevada, relating to banks, savings and loan associations, savings banks, or persons licensed under chapter 675 of NRS is eligible to become a licensee under this chapter. This chapter does not apply to any business transacted by any such person under the authority of and as permitted by any such law.

2. Except as otherwise provided in subsection 3 and chapter 666 of NRS , a subsidiary of a parent corporation: (a) One or more of whose other subsidiaries is engaged in any of the activities listed in subsection 1; or (b) Whose parent corporation is prohibited from obtaining a license under this chapter, is not eligible to be licensed under this chapter.

3. Subsection 2 does not apply to a bank which is doing business under the law of the United States if its principal office is located in Nevada.
Nev. Rev. Stat. § 673.430 — NV Code / Title 55 / Chapter 673 / Section 673.430
Annual reports: Filing; form and contents; fees; penalty; regulations
Status: in_force

1. Each savings bank doing business in this State shall file annually with the Commissioner on or before March 1, a report containing the information set forth in subsection 2.

2. The annual report must contain, in such form and detail as the Commissioner may prescribe, the following: (a) The amount of authorized capital by classes and the par value of each class of stock. (b) A statement of its assets, liabilities and capital accounts as of the immediately preceding December 31. (c) Any other facts which the Commissioner requires.

3. The Commissioner may impose and collect a fee of not more than $10 for each day the annual report is overdue. The Commissioner shall adopt regulations establishing the amount of the fee that may be imposed pursuant to this subsection.

4. Every savings bank shall pay to the Commissioner for supervision and examination a fee based on the rate established and, if applicable, adjusted pursuant to NRS 658.101 .
Nev. Rev. Stat. § 657.064 — NV Code / Title 55 / Chapter 657 / Section 657.064
“Savings deposit” defined
Status: in_force

“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 less than 7 days before a withdrawal, but from which the depositor may otherwise make withdrawals without giving written notice; and

2. Which is not payable on a specific date or at the expiration of a specified time after the date of deposit.
Nev. Rev. Stat. § 671.070 — NV Code / Title 55 / Chapter 671 / Section 671.070
Expiration and renewal of license; fees; regulations
Status: in_force

1. Except as otherwise provided in this subsection, a license issued pursuant to this chapter expires on December 31 of each year, unless it is earlier surrendered, suspended or revoked. A license which is initially issued on or after November 1 and on or before December 31 of a year expires on December 31 of the year following the year in which the license was issued, unless it is earlier surrendered, suspended or revoked.

2. The license may be renewed from year to year upon the approval of the Commissioner if the licensee, on or after November 1 and on or before December 31 of each year, files an application which: (a) Conforms to the requirements for an initial application; and (b) Contains a description of each material change in the information submitted to the Commissioner by the licensee in the initial application which has not yet been reported to the Commissioner.

3. An application for the renewal of the license must be accompanied by a fee of not more than $400. No investigation fee may be charged for the renewal of the license. If the application or fee for renewal is not filed within the required time, the Commissioner may reinstate the expired license if the licensee files the application, the fee for renewal and a fee of not more than $400 for late renewal, if applicable, on or before February 28 of the year following the expiration of the license.

4. The Commissioner shall adopt regulations establishing the amount of the fees required pursuant to this section. All fees collected pursuant to this section must be deposited in the State Treasury pursuant to the provisions of NRS 658.091 .
Nev. Rev. Stat. § 675.140 — NV Code / Title 55 / Chapter 675 / Section 675.140
Expiration, renewal and reinstatement of license; fees; regulations
Status: in_force

1. A license expires on December 31 of each year unless renewed by the licensee. To renew a license, a licensee must submit to the Commissioner on or after November 1 and on or before December 31 of each year: (a) An application for renewal; and (b) A fee of not more than $1,000 for each license held by the licensee.

2. If a licensee fails to submit any item required pursuant to subsection 1 to the Commissioner on or after November 1 and on or before December 31 of any year, the license is cancelled as of December 31 of that year. The Commissioner may reinstate a cancelled license if the licensee submits to the Commissioner on or before February 28 of the following year: (a) An application for renewal; (b) The fee specified in paragraph (b) of subsection 1; and (c) A fee of not more than $400 for reinstatement.

3. The Commissioner shall adopt regulations establishing the amount of the fees required pursuant to this section.
Nev. Rev. Stat. § 671.215 — NV Code / Title 55 / Chapter 671 / Section 671.215
Engaging in money transmission on behalf of unlicensed or nonexempt person prohibited; liability
Status: in_force

A person shall not engage in the business of money transmission on behalf of a person not licensed under this chapter or who is not exempt from licensure under this chapter. A person that engages in such activity provides money transmission to the same extent as if the person were a licensee and is jointly and severally liable with the unlicensed or nonexempt person.
Nev. Rev. Stat. § 677.375 — NV Code / Title 55 / Chapter 677 / Section 677.375
Suspension or revocation of license: Additional grounds
Status: in_force

In addition to any other lawful reasons, the Commissioner may suspend or revoke a license if the licensee has engaged in any act that would be grounds for denying a license pursuant this chapter.
Nev. Rev. Stat. § 675.160 — NV Code / Title 55 / Chapter 675 / Section 675.160
Disposition of money collected pursuant to chapter
Status: in_force

Except as otherwise provided in NRS 675.100 , all fees and charges collected under the provisions of this chapter must be deposited in the State Treasury pursuant to the provisions of NRS 658.091 .
Nev. Rev. Stat. § 657A.320 — NV Code / Title 55 / Chapter 657A / Section 657A.320
Request for relief from certain limitations; approval, denial, rescission or modification of request
Status: in_force

1. At any time during the period of testing a financial product or service, a participant may submit to the Director a written request for relief from the limitations of subsection 2 of NRS 657A.300 or subsection 1 of NRS 657A.310 , or both, as they otherwise apply to the participant.

2. In accordance with any regulations adopted pursuant to NRS 657A.210 , the Director may: (a) Approve a request for relief if the Director determines that the participant has adequate capitalization and satisfactory procedures and processes in place for the oversight of its operations and the management of risk. (b) Rescind or modify at any time his or her approval of a request for relief.

3. The approval, denial, rescission or modification of approval of a request for relief is final and not subject to administrative or judicial review.
Nev. Rev. Stat. § 673.310 — NV Code / Title 55 / Chapter 673 / Section 673.310
Loans and advances of credit insured by Federal Housing Administration or Department of Veterans Affairs
Status: in_force

1. Subject to such regulations as may be prescribed by the Federal Housing Administration or Department of Veterans Affairs, savings banks may: (a) Make such loans and advances of credit, and purchases of obligations representing the loans and advances of credit, as are eligible for insurance by the Federal Housing Administration or are guaranteed by the Department of Veterans Affairs, and to obtain such insurance. (b) Make such loans secured by mortgages on real property as are eligible for insurance by the Federal Housing Administration or are guaranteed by the Department of Veterans Affairs, and to obtain such insurance. (c) Purchase, invest in and dispose of notes or bonds secured by mortgages insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs, securities of national mortgage associations, and debentures issued by the Department of Veterans Affairs or the Federal Housing Administration.

2. No law of this State, nor any articles of incorporation or bylaws of any savings bank, prescribing the nature, amount or form of security or requiring security upon which loans or advances of credit may be made, prescribing or limiting interest rates upon loans or advances of credit, or prescribing or limiting the period for which loans or advances of credit may be made, applies to loans, advances of credit or purchases made pursuant to subsection 1.

3. All loans, advances of credit, and purchases of obligations described in this section made and insured pursuant to the terms of the National Housing Act, 12 U.S.C. §§ 1701 et seq., are hereby validated and confirmed.
Nev. Rev. Stat. § 677.677 — NV Code / Title 55 / Chapter 677 / Section 677.677
“Designated reporter” defined
Status: in_force

“ Designated reporter ” means a person designated by a licensee to receive reports of known or suspected exploitation of an older person or vulnerable person pursuant to NRS 677.707 .
Nev. Rev. Stat. § 672.630 — NV Code / Title 55 / Chapter 672 / Section 672.630
Payment of trust accounts
Status: in_force

1. Any account payable to a trustee for another person may be paid to the trustee on demand.

2. The protection provided a credit union in subsection 1 has no bearing on the rights of parties in disputes between themselves or their successors concerning the beneficial ownership of funds in, or withdrawn from, multiple-party accounts.
Nev. Rev. Stat. § 657.185 — NV Code / Title 55 / Chapter 657 / Section 657.185
License to establish new depository institution: Commissioner prohibited from requiring identification of physical address of main office in application for license; authority of Commissioner to require identification of general location of main office in application and provision of physical address before commencement of business
Status: in_force

1. The Commissioner shall not require an applicant for a license to establish a new depository institution to identify in the application for the license the physical address where the main office of the proposed depository institution will be located.

2. The Commissioner may require an applicant for a license to establish a new depository institution to: (a) Identify in the application for the license the location, described in general terms, where the main office of the proposed depository institution will be located; and (b) Provide to the Commissioner the physical address of the main office of the proposed depository institution before the depository institution commences business.
Nev. Rev. Stat. § 669.090 — NV Code / Title 55 / Chapter 669 / Section 669.090
Unlawful to engage in business of trust company without license; exception
Status: in_force

Except as otherwise provided in NRS 669.201 to 669.209 , inclusive, it is unlawful for any retail trust company to engage in the business of a trust company without complying with the provisions of this chapter and having a license issued by the Commissioner.
Nev. Rev. Stat. § 669.110 — NV Code / Title 55 / Chapter 669 / Section 669.110
Certain organizational structure required for domestic trust company; authority to do business in this State required for foreign trust company
Status: in_force

An applicant for a license to conduct the business of a trust company under this chapter must be organized as a corporation or limited-liability company under the laws of this State or authorized to do business in this State as a foreign corporation or foreign limited-liability company.
Nev. Rev. Stat. § 671.0205 — NV Code / Title 55 / Chapter 671 / Section 671.0205
Applicability of chapter: Authority of Commissioner to exempt additional persons
Status: in_force

The Commissioner may, by regulation or order, exempt a person who is not specified in NRS 671.020 from the provisions of this chapter if the Commissioner determines that the exemption is in the public interest and the regulation of the person is not necessary for the purposes of this chapter.
Nev. Rev. Stat. § 672.780 — NV Code / Title 55 / Chapter 672 / Section 672.780
Annual financial report
Status: in_force

Every credit union organized under this chapter shall submit an annual financial report for the calendar year to the Commissioner on or before the first day of February on forms supplied by him or her for that purpose.
Nev. Rev. Stat. § 672.830 — NV Code / Title 55 / Chapter 672 / Section 672.830
Involuntary dissolution: Suspension of operations; corrective actions; declaration of insolvency; liquidation
Status: in_force

1. If the Division of Financial Institutions determines that any credit union organized pursuant to the provisions of this chapter is bankrupt or insolvent, has willfully violated the provisions of this chapter or is operating in an unsafe or unsound manner, the Division of Financial Institutions may, if emergency action is required to protect the assets of the members, issue an order temporarily suspending the credit union's operations. Reasonable notice of the suspension of operations and of the impending hearing shall be given to the board. Operations of the credit union shall cease upon receipt of notice from the Division of Financial Institutions.

2. At the scheduled hearing, the board shall, if it desires to continue operations, submit a plan of corrective actions. If the board desires, it may, prior to the hearing, request the Commissioner to declare the credit union insolvent and appoint a liquidating agent.

3. If the credit union is not represented at the scheduled hearing or the Division of Financial Institutions rejects the credit union's plan to continue operations, the Commissioner may appoint a liquidating agent and dissolve the credit union.
Nev. Rev. Stat. § 669A.237 — NV Code / Title 55 / Chapter 669A / Section 669A.237
Nonjudicial settlement agreements: Refraining from taking authorized action
Status: in_force

1. A family trust company or licensed family trust company may refrain from taking an action that is authorized by a nonjudicial settlement agreement if the family trust company or licensed family trust company determines in good faith that the action is not in the interest of the beneficiaries of the trust.

2. A family trust company or licensed family trust company that refrains from taking an action pursuant to subsection 1 shall provide written notice to each interested person within 15 days after its decision not to take the action and include in the notice the reasons for not taking the action.

3. An interested person who receives notice pursuant to subsection 2 may petition the court for an order requiring the family trust company or licensed family trust company to take the action authorized by the nonjudicial settlement agreement. The burden is on the beneficiary to prove that the proposed action is in the interest of the beneficiaries of the trust and should be taken.

4. A family trust company or licensed family trust company is not liable to an interested person for not taking an action that is authorized by a nonjudicial settlement agreement if the family trust company or licensed family trust company acted in good faith in not taking the action.
Nev. Rev. Stat. § 669.205 — NV Code / Title 55 / Chapter 669 / Section 669.205
Foreign independent trust company request to engage in the solicitation of trust company business in this State: Procedure for approval or denial; renewal; fees; conditions and prohibited acts if approved
Status: in_force

1. If a foreign independent trust company seeks to engage only in the solicitation of trust company business in this State, regardless of whether the foreign independent trust company has a physical location in this State, the foreign independent trust company must submit to the Commissioner a written request on a form prescribed by the Commissioner for authorization to solicit trust company business in this State. The written request must be accompanied by: (a) A nonrefundable fee of $1,000. (b) Evidence that the foreign independent trust company is qualified to do business as a foreign corporation or foreign limited-liability company pursuant to chapter 80 or 86 of NRS, as applicable. (c) The designation of a registered agent who resides or is located in this State to receive service of legal process relating to activities conducted by the foreign independent trust company in this State. (d) If the foreign independent trust company proposes to have a trust representative office in this State: (1) The address of the trust representative office; (2) The names of all persons who will be representing the foreign independent trust company at the trust representative office; and (3) Evidence of compliance with all applicable requirements for state and local business registrations and licenses. (e) Confirmation that the foreign independent trust company is authorized to conduct business as a trust company in its home state. (f) Confirmation by the applicable regulatory authority in the home state of the foreign independent trust company that the license or charter of the foreign independent trust company is in good standing. (g) Evidence that the foreign independent trust company has a policy of insurance covering liability for errors and omissions relating to any activity by the foreign independent trust company involving residents of this State. (h) Evidence of compliance with NRS 669.206 , if the Commissioner requires a foreign independent trust company to maintain a surety bond. (i) Confirmation that the laws of the home state of the foreign independent trust company authorize a trust company licensed pursuant to the laws of this State to conduct business in the home state of the foreign independent trust company on substantially the same basis. (j) Confirmation that the home state regulator subscribes to and is a signatory of the Nationwide Cooperative Agreement for Supervision and Examination of Multi-State Trust Institutions as adopted by the Conference of State Bank Supervisors.

2. The Commissioner may deny the approval of a foreign independent trust company to engage in the solicitation of trust company business or have a trust representative office in this State if the Commissioner, in acting on the written request submitted pursuant to subsection 1 after consultation with the home state regulator, finds: (a) That the foreign independent trust company lacks sufficient financial resources to undertake the proposed solicitation or expansion without adversely affecting its safety or soundness; or (b) That such approval would be contrary to the public interest.

3. If the Commissioner approves a written request for authorization to solicit trust company business submitted pursuant to subsection 1, the foreign independent trust company must renew the request annually on a date and form prescribed by the Commissioner to continue such authorization. The written request for renewal must be accompanied by: (a) A nonrefundable renewal fee of $500; and (b) Confirmation that the information previously provided pursuant to paragraphs (b) to (j), inclusive, of subsection 1 remains accurate. If any such information has changed, the foreign independent trust company must provide updated information.

4. If the Commissioner approves a written request for authorization to solicit trust company business submitted pursuant to subsection 1, the foreign independent trust company: (a) Except as otherwise provided in paragraph (b), may solicit trust company business in this State and contact existing or prospective customers. (b) Shall not: (1) Accept a fiduciary appointment; (2) Execute a document that creates a fiduciary relationship; (3) Make decisions regarding the investment or distribution of fiduciary assets; or (4) Otherwise engage in any activity for which a license is required pursuant to this chapter.

5. The Commissioner may: (a) Rely on the applicable regulatory authority of the home state of a foreign independent trust company to examine and investigate activity conducted by the foreign independent trust company; (b) Investigate any trust representative office established and maintained in this State by a foreign independent trust company as the Commissioner may deem necessary to determine if the trust representative office is being operated in compliance with the applicable laws of this State and in accordance with safe and sound business practices; and (c) Require periodic reports regarding the operations of any foreign independent trust company that has been approved under this section.

6. All money received by the Commissioner: (a) From the payment of fees pursuant to paragraph (a) of subsection 1 must be placed in the Investigative Account for Financial Institutions created by NRS 232.545 ; and (b) From the payment of renewal fees pursuant to paragraph (a) of subsection 3 must be deposited in the State Treasury pursuant to the provisions of NRS 658.091 .

7. As used in this section, “ trust representative office ” means a place of business in this State from which a foreign independent trust company may solicit trust company business and contact existing or prospective customers.
Nev. Rev. Stat. § 675.363 — NV Code / Title 55 / Chapter 675 / Section 675.363
Calculation of interest; billing cycle
Status: in_force

1. Under an agreement for a loan for an indefinite term, the licensee may receive interest in any amount or at any annual rate provided in the agreement. This interest must be calculated for each billing cycle in either of the following ways: (a) By multiplying the daily rate by the daily unpaid balance in the account. The daily rate is determined by dividing the annual rate of interest fixed by the agreement by 365. The daily unpaid balance is determined by adding to any balance remaining unpaid as of the beginning of each day any advances and any appropriate charges, including interest, and by deducting therefrom any payments or other credits made or received on that day. (b) By multiplying the monthly rate by the average unpaid daily balance in the account for that billing cycle. The monthly rate is determined by dividing the annual rate of interest by 12. The average unpaid daily balance is determined by dividing the sum of all of the daily unpaid balances during the billing cycle by the number of days in the cycle.

2. Unless otherwise provided in the agreement, the billing cycle must be monthly. A billing cycle is monthly if the closing date of the cycle is the same date each month or does not vary by more than 4 days from that date.
Nev. Rev. Stat. § 673.03531 — NV Code / Title 55 / Chapter 673 / Section 673.03531
Certain relationships between employees of Division of Financial Institutions and savings bank prohibited; termination of prohibited relationship
Status: in_force

1. Except as provided in subsections 3 and 4, an officer or employee of the Division of Financial Institutions shall not: (a) Be directly or indirectly interested in or act on behalf of any savings bank; (b) Receive, directly or indirectly, any payment from a savings bank; (c) Be indebted to any savings bank; (d) Engage in the negotiation of loans for others with any savings bank; or (e) Obtain credit or services from a savings bank conditioned upon a fraudulent practice or undue or unfair preference over other customers.

2. An employee of the Division of Financial Institutions in the unclassified service of the State shall not obtain new extensions of credit from a savings bank while in office.

3. Any officer or employee of the Division of Financial Institutions may be indebted to a savings bank on the same terms as are available to the public generally upon: (a) A mortgage loan upon his or her own real property. (b) A secured installment debt. (c) An unsecured debt.

4. Any officer or employee of the Division of Financial Institutions may establish and maintain savings deposits with savings banks to the greatest amount insured, receive interest on those deposits and borrow money secured by a pledge of those deposits.

5. If an officer or employee of the Division of Financial Institutions has a service, a preferred consideration, an interest or a relationship prohibited by this section at the time of his or her appointment or employment, or obtains it during his or her employment, he or she shall terminate it within 120 days after the date of his or her appointment or employment or the discovery of the prohibited act.
Nev. Rev. Stat. § 672.470 — NV Code / Title 55 / Chapter 672 / Section 672.470
Receiving and paying out deposits; borrowing, selling and purchasing assets
Status: in_force

A credit union may, subject to the regulations or approval of the Commissioner:

1. Receive from its members or from the members of another credit union deposits which are payable on demand and honor requests for withdrawals in the form of checks or drafts.

2. Receive deposits from the State Treasurer which are payable on demand pursuant to the provisions of chapter 356 of NRS .

3. Borrow from any source in accordance with the policy established by the board of directors and discount and sell any eligible obligations.

4. Sell all or any part of its assets or purchase all or any part of the assets of another credit union.
Nev. Rev. Stat. § 677.370 — NV Code / Title 55 / Chapter 677 / Section 677.370
Posting of license; transferability and assignability of license
Status: in_force

1. Each licensee shall conspicuously post each license in the place of business to which it pertains.

2. No license is transferable or assignable without the permission of the Commissioner.
Nev. Rev. Stat. § 670B.600 — NV Code / Title 55 / Chapter 670B / Section 670B.600
Regulations
Status: in_force

The Commissioner shall adopt any regulations necessary to carry out the provisions of this chapter.
Nev. Rev. Stat. § 672.480 — NV Code / Title 55 / Chapter 672 / Section 672.480
Fees and assessments
Status: in_force

A credit union may:

1. Require, at the discretion of the directors, the payment of an entrance fee or annual membership fee of any person admitted to membership;

2. Collect, receive and disburse moneys and charge a fee for services rendered in connection with the sale of negotiable checks, money orders and other money-type instruments and for such other purposes as may provide benefit or convenience to its members; and

3. Assess charges to members in accordance with the bylaws for failure to promptly meet their obligations to the credit union.
Nev. Rev. Stat. § 669.280 — NV Code / Title 55 / Chapter 669 / Section 669.280
Authority of Commissioner to take disciplinary action and to close and liquidate business
Status: in_force

1. The violation of any of the provisions of this chapter by the officers or directors, or the managers or members acting in a managerial capacity, of any trust company is sufficient cause for the Commissioner to close the trust company, liquidate its business and revoke its license.

2. If a trust company or any person authorized to act on the behalf of the trust company refuses to allow the Commissioner or the Commissioner’s deputies to inspect all books, records, papers and effects of the business of the trust company, the Commissioner may revoke its license and proceed to wind up the affairs of the trust company.
Nev. Rev. Stat. § 657.290 — NV Code / Title 55 / Chapter 657 / Section 657.290
Designated reporter: Designation; duty to report; authority to delay disbursement or transaction; expiration of delay; immunity; considerations in determining whether exploitation has occurred
Status: in_force

1. Each financial institution shall designate a person or persons to whom an officer or employee of the financial institution must report known or suspected exploitation of an older person or vulnerable person.

2. If an officer or employee reports known or suspected exploitation of an older person or vulnerable person to a designated reporter and, based on such a report or based on his or her own observations or knowledge, the designated reporter knows or has reasonable cause to believe that an older person or vulnerable person has been exploited, the designated reporter: (a) Except as otherwise provided in subsection 3, shall report the known or suspected exploitation of the older person or vulnerable person to: (1) The local office of the Aging and Disability Services Division of the Department of Health and Human Services; (2) A police department or sheriff's office; (3) The county's office for protective services, if one exists in the county where the suspected action occurred; or (4) A toll-free telephone service designated by the Aging and Disability Services Division of the Department of Health and Human Services; (b) Shall make such a report as soon as reasonably practicable; and (c) May temporarily delay a requested disbursement from, or a requested transaction involving, an account of an older person or vulnerable person or an account to which an older person or vulnerable person is a beneficiary if the designated reporter: (1) Not later than 2 business days after the date on which the requested disbursement or transaction is delayed: (I) Provides written notification of the delay and the reason for the delay to all parties authorized to transact business on the account, except a party who is reasonably believed to have engaged in the suspected exploitation; and (II) Notifies the local office of the Aging and Disability Services Division of the Department of Health and Human Services and a local law enforcement agency of the delay; and (2) Notifies the local office of the Aging and Disability Services Division of the Department of Health and Human Services and the appropriate local law enforcement agency of any new information that is relevant to the delay within a reasonable time after becoming aware of the information.

3. If the designated reporter knows or has reasonable cause to believe that the exploitation of the older person or vulnerable person involves an act or omission of the Aging and Disability Services Division, another division of the Department of Health and Human Services or a law enforcement agency, the designated reporter shall make the report to an agency other than the one alleged to have committed the act or omission.

4. In accordance with the provisions of subsection 3 of NRS 239A.070 , in making a report pursuant to this section, a designated reporter may: (a) Disclose any facts or information that form the basis of the determination that the designated reporter knows or has reasonable cause to believe that an older person or vulnerable person has been exploited, including, without limitation, the identity of any person believed to be involved in the exploitation of the older person or vulnerable person; and (b) Provide any financial records or other documentation relating to the exploitation of the older person or vulnerable person.

5. A financial institution and any of its officers, employees and designated reporters are immune from civil, criminal and administrative liability arising from: (a) Making a report in good faith pursuant to this section; (b) Delaying a requested disbursement or transaction involving the known or suspected exploitation of an older person or vulnerable person pursuant to this section; or (c) Taking any reasonable action which is: (1) Performed in furtherance of a duty or authorization created by subsection 2, 3 or 4; and (2) Based upon a reasonable belief that an older person or vulnerable person has been exploited.

6. Except as otherwise provided in this subsection and subsections 7 and 8, a delay in a requested disbursement or transaction authorized by paragraph (c) of subsection 2 expires 15 business days after the date on which the requested disbursement or transaction was delayed. If the local office of the Aging and Disability Services Division of the Department of Health and Human Services or a local law enforcement agency requests in writing that the designated reporter extend the delay, the delay expires upon the earlier of: (a) Twenty-five business days after the date on which the requested disbursement or transaction was delayed; or (b) Upon the written request of the local office of the Aging and Disability Services Division of the Department of Health and Human Services or the local law enforcement agency that requested the extension of the delay or upon the order of a court of competent jurisdiction.

7. A delay in a requested disbursement or transaction authorized by paragraph (c) of subsection 2 may expire before the period set forth in subsection 6 and the designated reporter may proceed with the requested disbursement or transaction if the designated reporter reasonably believes that the requested disbursement or transaction will not result in exploitation of the older person or vulnerable person.

8. A court of competent jurisdiction may issue an order extending a delay of a requested disbursement or transaction authorized by paragraph (c) of subsection 2 based on the petition of the local office of the Aging and Disability Services Division of the Department of Health and Human Services, a local law enforcement agency or any other interested party.

9. When determining whether an older person or vulnerable person has been exploited, a designated reporter may consider any of the following circumstances, if applicable and without limitation: (a) A requested disbursement from, or a requested transaction involving, an account of an older person or vulnerable person or an account to which an older person or vulnerable person is a beneficiary that the older person or vulnerable person cannot explain; (b) A request to close a certificate of deposit of an older person or vulnerable person that is made: (1) Before the date of maturity of the certificate of deposit; and (2) With apparent disregard for any penalty associated with closing the certificate of deposit before the date of maturity of the certificate of deposit; (c) A check written by an older person or vulnerable person under suspicious circumstances; (d) An uncharacteristic attempt by an older person or vulnerable person to initiate a wire transfer of a significant sum of money; (e) A suspicious signature on documentation relating to an account of an older person or vulnerable person; (f) A suspicious alteration to a: (1) Trust to which an older person or vulnerable person is a beneficiary; or (2) Will or trust for which an older person or vulnerable person is a testator or trustee; (g) A suspicious alteration in a power of attorney relating to an older person or vulnerable person; and (h) A person attempting to initiate a financial transaction on behalf of an older person or vulnerable person without proper documentation.
Nev. Rev. Stat. § 666.420 — NV Code / Title 55 / Chapter 666 / Section 666.420
Reports by out-of-state depository institution or holding company
Status: in_force

The Commissioner may, by regulation, require an out-of-state depository institution or holding company to submit such reports or permit the submission of such reports prepared pursuant to federal law as, in the Commissioner’s discretion, contain sufficient information pertinent to operations in Nevada of branches of the institution or of depository institutions of the holding company.
Nev. Rev. Stat. § 672.800 — NV Code / Title 55 / Chapter 672 / Section 672.800
Merger; fees set by regulation; regulations
Status: in_force

1. Any credit union may, with the approval of the Commissioner, merge with another credit union under the existing charter of the other credit union, pursuant to any plan agreed upon by the majority of the board of each credit union joining in the merger and approved by the affirmative vote of: (a) A majority of the members of the merging credit union present at a meeting called for that purpose; or (b) A majority of the members of the merging credit union voting by mail on the question.

2. After agreement by the directors of each credit union and approval by the members of the merging credit union, the chair and secretary of each credit union shall execute a certificate of merger, which must set forth: (a) The time and place of the meeting of the board of directors at which the plan was agreed upon; (b) The vote in favor of adoption of the plan; (c) A copy of the resolution or other action by which the plan was agreed upon; (d) The circumstances of the vote in which the members approved the plan agreed upon, if a vote was required; and (e) The vote by which the plan was approved by the members, if a vote was required.

3. A copy of each of the certificates executed pursuant to subsection 2 and a copy of the plan of merger agreed upon by the credit unions joining in the merger must be forwarded to the Division of Financial Institutions for certification and returned to the credit unions within 30 days.

4. After a merger is effected, all property, property rights and interest of the merged credit union vest in the surviving credit union without deed, endorsement or other instrument of transfer, and all debts, obligations and liabilities of the merged credit union are deemed to be assumed by the surviving credit union under whose charter the merger was effected.

5. If the surviving credit union is to be a credit union chartered in accordance with the laws of this state, the application for approval of the merger must be accompanied by an application fee in an amount prescribed by regulation of the Commissioner. The applicant shall also pay such additional expenses incurred in the process of investigation as the Commissioner deems necessary. All money received by the Commissioner pursuant to this subsection must be placed in the Investigative Account created by NRS 232.545 .

6. The Commissioner shall adopt regulations pursuant to which he or she may order any credit union chartered in accordance with the provisions of this chapter to merge with: (a) Another credit union chartered in accordance with the provisions of this chapter; or (b) A credit union chartered in accordance with the laws of another state or of the United States, if a majority of the board of that credit union approves the merger, when he or she determines that the merger is in the best interest of the members of the merging credit union.

7. This section is to be liberally construed to permit a credit union chartered in accordance with this chapter to merge with a credit union chartered in accordance with this chapter or any other provisions of law.
Nev. Rev. Stat. § 662.235 — NV Code / Title 55 / Chapter 662 / Section 662.235
Powers and duties when carrying on trust company business; segregation of assets and recordkeeping
Status: in_force

1. Any bank organized under chapters 657 to 671, inclusive, of NRS may state in its articles of incorporation that it will carry on a trust company business in connection with the banking business, and in addition to the powers conferred upon banks may: (a) Act as trustee under any mortgage or bond of any person, firm or corporation, or of any municipality or body politic. (b) Accept and execute any municipal, corporate or individual trust not inconsistent with the laws of this State. (c) Act under the order or appointment of any court as guardian, commissioner, receiver or trustee. (d) Act as executor or trustee under any will. (e) Act as fiscal or transfer agent of any state, municipality, body politic or corporation, and in a capacity to receive and disburse money and register, transfer and countersign certificates of stock, bonds and other evidences of indebtedness. (f) Act as local or registered agent of foreign corporations.

2. Any such bank holding any asset as a fiduciary shall: (a) Segregate all such assets from any other assets of the bank and from the assets of any other trust, except as may be expressly provided otherwise by law or by the writing creating the trust. (b) Record such assets in a separate set of books maintained for fiduciary activities.
Nev. Rev. Stat. § 671.0085 — NV Code / Title 55 / Chapter 671 / Section 671.0085
“Federally insured depository financial institution” defined
Status: in_force

“ Federally insured depository financial institution ” means a bank, credit union, savings and loan association, savings association, savings bank, industrial bank or industrial loan company organized under the laws of any state or of the United States, when the bank, credit union, savings and loan association, savings association, savings bank, industrial bank or industrial loan company has deposits which are federally insured.
Nev. Rev. Stat. § 673.260 — NV Code / Title 55 / Chapter 673 / Section 673.260
Annual license: Fees; renewal; penalty; regulations
Status: in_force

1. The license specified in NRS 673.250 authorizes the company, savings bank or corporation to whom it is issued to sell its approved securities and contracts within this State for the remainder of the fiscal year ending on June 30 next succeeding. Each license is renewable, under like restrictions, annually thereafter.

2. For the issuing of any license provided for in NRS 673.250 and for any renewal thereof, the fee of the Commissioner is: (a) For the main office, not more than $400; and (b) For each branch office, not more than $200.

3. The fees must accompany the license renewal application. A penalty of 10 percent of the fee payable must be charged for each month or part thereof that the fees are not paid after June 30 of each year.

4. The Commissioner shall adopt regulations establishing the amount of the fees required pursuant to this section.
Nev. Rev. Stat. § 677.520 — NV Code / Title 55 / Chapter 677 / Section 677.520
Preexisting contracts unaffected by revocation, suspension, expiration or surrender of license
Status: in_force

The revocation, suspension, expiration or surrender of any license does not impair or affect the obligation of any preexisting lawful contract between the licensee and any obligors. Such a contract and all lawful charges thereon may be collected by the licensee, its successors or assigns.
Nev. Rev. Stat. § 677.145 — NV Code / Title 55 / Chapter 677 / Section 677.145
Certain relationships between employee of Division of Financial Institutions and licensee prohibited; termination of prohibited relationship
Status: in_force

1. Except as provided in subsections 3 and 4, an officer or employee of the Division of Financial Institutions shall not: (a) Be directly or indirectly interested in or act on behalf of any licensee; (b) Receive, directly or indirectly, any payment from any licensee; (c) Be indebted to any licensee; (d) Engage in the negotiation of loans for others with any licensee; or (e) Obtain credit or services from a licensee conditioned upon a fraudulent practice or undue or unfair preference over other customers.

2. An employee of the Division of Financial Institutions in the unclassified service of the State shall not obtain new extensions of credit from a licensee while in office.

3. Any officer or employee of the Division of Financial Institutions may be indebted to a licensee on the same terms as are available to the public generally upon: (a) A mortgage loan on his or her own real property. (b) A secured installment debt. (c) An unsecured debt.

4. Any officer or employee of the Division of Financial Institutions may establish and maintain savings deposits with licensees to the greatest amount insured, receive interest on those deposits and borrow money secured by a pledge of those deposits.

5. If an officer or employee of the Division of Financial Institutions has a service, a preferred consideration, an interest or a relationship prohibited by this section at the time of his or her appointment or employment, or obtains it during his or her employment, he or she shall terminate it within 120 days after the date of his or her appointment or employment or the discovery of the prohibited act.
Nev. Rev. Stat. § 671.094 — NV Code / Title 55 / Chapter 671 / Section 671.094
Authority of Commissioner to require submission of fingerprints; use of Nationwide Multistate Licensing System and Registry for submission and processing of fingerprints
Status: in_force

1. The Commissioner may require an applicant for a license or a licensee to submit a complete set of fingerprints when the Commissioner determines necessary.

2. The Commissioner may use the services of the Registry to process and to submit the fingerprints to the Federal Bureau of Investigation, to the Central Repository for Nevada Records of Criminal History, to any federal or state law enforcement agency or to any other entity authorized to receive such information for the purpose of conducting a background check of the criminal history of an applicant for a license or a licensee.
Nev. Rev. Stat. § 673.324 — NV Code / Title 55 / Chapter 673 / Section 673.324
Permissible loans
Status: in_force

1. A savings bank may make any loan which: (a) Is secured by real property; (b) Is secured by personal property, including, without limitation, stock or other securities; (c) Results from a credit card issued by the savings bank; (d) Is unsecured; (e) Is made to the United States, its agencies or any governmental agency of the State of Nevada; or (f) Is made at the discretion of the directors of the savings bank if the loan will not impair the insurability of the accounts of the savings bank by the Federal Deposit Insurance Corporation.

2. Additional loans or advances on the same property, without intervening liens, shall be deemed to be first liens for the purpose of this chapter.
Nev. Rev. Stat. § 675.283 — NV Code / Title 55 / Chapter 675 / Section 675.283
Notification of breach of security of computerized data system: When required; permissible delay; methods for provision; contents
Status: in_force

1. If a licensee that owns or licenses computerized data that includes personal information discovers or is notified of a breach of the security of the computerized data system of the licensee, the licensee shall notify any resident of this State whose personal information was, or is reasonably believed to have been, acquired by an unauthorized person if: (a) The breach is reasonably likely to subject the resident to a risk of harm; and (b) Either: (1) The personal information acquired or believed to have been acquired was not encrypted; or (2) The breach resulted in, or is reasonably believed to have resulted in, an unauthorized person acquiring an encryption key or other means of converting encrypted personal information acquired by the person into an unencrypted or otherwise intelligible form.

2. Except as otherwise provided in this subsection and subsection 4, the notification required by subsection 1 must be made in the most expedient time possible and not more than 30 days after the date on which the licensee discovered or was notified of the breach. A licensee may delay providing the notification beyond the period required by this subsection, as authorized by subsection 4 or if the delay is caused by any measures necessary to determine the scope of the breach and restore the reasonable integrity of the computerized data system of the licensee.

3. Except as otherwise provided in subsection 4, a licensee that maintains data which includes personal information that the licensee does not own shall notify the owner of the information of any breach of the security of the computerized data system of the licensee immediately following discovery if the personal information was, or is reasonably believed to have been, acquired by an unauthorized person.

4. A notification required by this section may be delayed if a law enforcement agency determines that the notification will impede a criminal investigation. The notification must be made after the law enforcement agency determines that the notification will not impede a criminal investigation.

5. Except as otherwise provided in subsections 6 and 8, a notification required by this section may be provided by any of the following methods: (a) Written notification. (b) Electronic notification, if the notification provided is consistent with the provisions of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. §§ 7001 et seq. (c) Substitute notification, if the licensee demonstrates that the cost of providing notification would exceed $250,000, the affected class of subject persons to be notified exceeds 500,000 or the licensee does not have sufficient contact information. Substitute notification must consist of all the following: (1) Notification by electronic mail when the licensee has electronic mail addresses for the subject persons. (2) Conspicuous posting of the notification on the Internet website of the licensee, if the licensee maintains an Internet website. (3) Notification to major statewide media.

6. If a breach involves a username, password or other login credentials to an electronic mail account furnished by the licensee, the licensee shall not provide the notification required pursuant to this section to that electronic mail account.

7. A notification provided by a licensee pursuant to this section must be written in plain language and contain, at a minimum, the following information: (a) The name and contact information of the licensee; (b) A list of the types of personal information that were or are reasonably believed to have been subject to the breach; (c) The period of time, if known, in which personal information was potentially subject to acquisition by unauthorized persons as a result of the breach, including, without limitation, the date of the breach and the date upon which the licensee discovered or was notified of the breach; (d) The toll-free telephone numbers and addresses of the major credit reporting agencies; and (e) If the breach involved personal information that includes a username, password or other login credentials to an online account, an advisement to the person whose personal information was, or is reasonably believed to have been, acquired by an unauthorized person to promptly change any relevant passwords or security questions or answers associated with the online account and to take any other appropriate steps to protect the online account and any other online account for which the person uses any of the same information to access.

8. A licensee who maintains his or her own notification procedures as part of a data security policy for the treatment of personal information that are otherwise consistent with the timing requirements of this section shall be deemed to be in compliance with the notification requirements of this section if the licensee notifies subject persons in accordance with its policies and procedures in the event of a breach of the security of the computerized data system of the licensee.
Nev. Rev. Stat. § 665.135 — NV Code / Title 55 / Chapter 665 / Section 665.135
Administration of oaths and summoning of witnesses for purposes of examination
Status: in_force

In making the examinations required by chapters 657 to 671, inclusive, of NRS, the Commissioner and any appointed examiner may administer oaths to examine any officer, director, manager, agent, employee, customer, depositor, stockholder or member of the bank, or any other person touching the affairs and business of the bank being examined. Any examiner may summon in writing any officer, director, manager, agent, employee, customer, depositor, stockholder or member, or any other person who is a resident of this State, to appear before the examiner and testify in relation to the affairs and business of the bank.
Nev. Rev. Stat. § 671.415 — NV Code / Title 55 / Chapter 671 / Section 671.415
Investigations and hearings; fee; confidential communications
Status: in_force

1. The Commissioner may conduct any necessary investigations and hearings to determine whether any licensee, authorized delegate or other person has violated any of the provisions of this chapter or whether any licensee has conducted himself or herself in a manner which requires the suspension, revocation or denial of renewal of his or her license.

2. In conducting any investigation or hearing pursuant to this chapter, the Commissioner, or any person designated by the Commissioner, may require the attendance and testimony of any person and compel the production of all relevant books, records, accounts and other documents. The Commissioner shall charge and collect from each licensee or other person a fee at the rate established and, if applicable, adjusted pursuant to NRS 658.101 for the cost of any supervision, audit, examination, investigation or hearing conducted pursuant to this chapter or any regulations adopted pursuant thereto.

3. The Commissioner may require any licensee to submit such reports concerning the licensee's business as the Commissioner deems necessary for the enforcement of this chapter.

4. Except as otherwise provided in NRS 239.0115 and 671.365 , all reports of investigations and examinations and other reports rendered pursuant to this section, all correspondence and memoranda relating to or arising therefrom, including any authenticated copies thereof in the possession of any licensee or the Commissioner, and all other information related to an examination or investigation are confidential communications, are not subject to any subpoena, and must not be made public unless the Commissioner determines that justice and the public advantage will be served by their publication. This subsection does not preclude any party to an administrative or judicial proceeding from introducing into evidence any information or document otherwise available or admissible.
Nev. Rev. Stat. § 673.3255 — NV Code / Title 55 / Chapter 673 / Section 673.3255
Loans to finance interest in cooperative housing corporation; first security interests
Status: in_force

1. A savings bank may make or invest in a loan to finance a borrower's interest in or to refinance his or her existing interest in a cooperative housing corporation if the loan is secured by: (a) A first security interest in stock or a certificate of membership in the cooperative housing corporation; and (b) An assignment of or lien on the borrower's interest in the lease or other right of tenancy to a dwelling unit of the cooperative housing corporation.

2. A first security interest may exist even though a mortgage or deed of trust encumbers the property owned by the cooperative housing corporation if the stock or certificate of membership in the corporation and the borrower's lease or other right of tenancy are not encumbered with a prior security interest. For purposes of this chapter, additional loans or advances on the same interest in a cooperative housing corporation, without intervening liens, shall be deemed to be first security interests. For purposes of this chapter, the interest in a cooperative housing corporation which is encumbered by a security interest shall be deemed to be real property and security interest shall be deemed to be a mortgage on real property.
Nev. Rev. Stat. § 659.075 — NV Code / Title 55 / Chapter 659 / Section 659.075
Payment of initial stockholders' or members' equity; sale of stock or solicitation of contributions to bank in process of organization
Status: in_force

1. Subject to subsection 2, the initial stockholders' or members' equity of a bank must be fully paid in, in cash, before it is authorized by the Commissioner to commence business. The full payment in cash must be certified to the Commissioner under oath by the president or manager of the bank.

2. Except for any commission or fee not otherwise prohibited by this subsection, the stock sold by or contributions to any bank in the process of organization must be accounted for to the bank in the full amount paid. No commission or fee may be paid to any person, association or corporation for selling the stock of or soliciting contributions to any bank in the process of organization. The Commissioner shall refuse such a bank the authority to commence business if commissions or fees have been paid, or have been contracted to be paid by the bank, or by anyone in its behalf, to any person, association or corporation for securing subscriptions for, or selling stock in, or procuring contributions to, the bank.
Nev. Rev. Stat. § 666.195 — NV Code / Title 55 / Chapter 666 / Section 666.195
Temporary orders: Application for injunction limiting or setting aside order; application for injunction prohibiting violation
Status: in_force

1. Within 10 days after a bank holding company has been served with a temporary order to cease and desist, the company may apply to the district court for the judicial district in which the company is located for an injunction limiting or setting aside the order until the hearing is held pursuant to the notice of charges.

2. If a bank holding company violates or threatens to violate a temporary order, the Commissioner may apply to the district court for the judicial district in which the bank holding company is located for an injunction prohibiting the company from violating the order.
Nev. Rev. Stat. § 676A.740 — NV Code / Title 55 / Chapter 676A / Section 676A.740
Commissioner to enforce chapter; penalties
Status: in_force

1. The Commissioner may enforce this chapter and regulations adopted under this chapter by taking one or more of the following actions: (a) Ordering a provider or a director, employee or other agent of a provider to cease and desist from any violations; (b) Ordering a provider or a person that has caused a violation to correct the violation, including, without limitation, making restitution of money or property to a person aggrieved by a violation; (c) Subject to adjustment of the dollar amount pursuant to subsection 6 of NRS 676A.730 , imposing on a provider or a person that has caused a violation a civil penalty not to exceed $10,000 for each violation; (d) Prosecuting a civil action to: (1) Enforce an order; or (2) Obtain restitution or an injunction or other equitable relief, or both; or (e) Intervening in an action brought under NRS 676A.760 .

2. Subject to adjustment of the dollar amount pursuant to subsection 6 of NRS 676A.730 , if a person violates or knowingly authorizes, directs or aids in the violation of a final order issued under paragraph (a) or (b) of subsection 1, the Commissioner may impose a civil penalty not to exceed $20,000 for each violation.

3. The Commissioner may maintain an action to enforce this chapter in any county.

4. The Commissioner may recover the reasonable costs of enforcing this chapter under subsections 1, 2 and 3, including, without limitation, attorney's fees based on the hours reasonably expended and the hourly rates for attorneys of comparable experience in the community.

5. In determining the amount of a civil penalty to impose under subsection 1 or 2, the Commissioner shall consider the seriousness of the violation, the good faith of the violator, any previous violations by the violator, the deleterious effect of the violation on the public, the net worth of the violator and any other factor the Commissioner considers relevant to the determination of the civil penalty.
Nev. Rev. Stat. § 666.215 — NV Code / Title 55 / Chapter 666 / Section 666.215
Penalties
Status: in_force

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 .

2. A person who willfully violates any provision of NRS 666.065 to 666.135 , inclusive, or 666.155 to 666.205 , inclusive, is guilty of a gross misdemeanor.