Nev. Rev. Stat. § 671.205 — NV Code / Title 55 / Chapter 671 / Section 671.205
Required actions of licensee before engaging in money transmission through or allowing person to act as authorized delegate; authorized delegate to operate in compliance with chapter; required contract between licensee and authorized delegate; procedures upon suspension, revocation, surrender or expiration of license of licensee; money held in trust; use of subdelegate prohibited
Status: in_force

1. A licensee shall not engage in any business of money transmission through an authorized delegate or allow a person to act as an authorized delegate unless the licensee has: (a) Adopted, and updated as necessary, written policies and procedures reasonably designed to ensure that authorized delegates of the licensee comply with applicable state and federal laws; (b) Entered into a written contract with the authorized delegate that complies with subsection 3; and (c) Conducted a reasonable risk-based background investigation sufficient for the licensee to determine whether the authorized delegate has complied with and likely will comply with applicable state and federal laws.

2. An authorized delegate shall operate in compliance with the provisions of this chapter.

3. A written contract required pursuant to subsection 1 must be signed by the licensee and the authorized delegate and must: (a) Appoint the person proposed to be an authorized delegate who is signing the contract as the authorized delegate of the licensee with the authority to conduct money transmission on behalf of the licensee; (b) Set forth the nature and scope of the relationship between the licensee and the authorized delegate and the respective rights and responsibilities of the parties; (c) Require the authorized delegate to agree to comply fully with all applicable state and federal laws, rules and regulations pertaining to money transmission, including, without limitation, the provisions of this chapter, the regulations adopted pursuant thereto and the relevant provisions of the Bank Secrecy Act and the USA Patriot Act; (d) Require the authorized delegate to remit and handle money, credits and monetary value in accordance with the terms of the contract between the licensee and the authorized delegate; (e) Impose a trust on money, credits and monetary value received for money transmission, net of fees, for the benefit of the licensee; (f) Require the authorized delegate to prepare and maintain records as required by this chapter and the regulations adopted pursuant thereto, or as reasonably requested by the Commissioner; (g) Acknowledge that the authorized delegate consents to examination or investigation by the Commissioner; (h) State that the licensee is subject to regulation by the Commissioner and that, as part of that regulation, the Commissioner may suspend or revoke the designation of an authorized delegate or require the licensee to terminate the designation of an authorized delegate; and (i) Acknowledge receipt of the written policies and procedures required by subsection 1.

4. If the license of a licensee is suspended, revoked, surrendered or expired, the licensee must, within 5 business days after the date on which such action occurred, provide documentation to the Commissioner that the licensee has notified all applicable authorized delegates of the licensee whose names are in a record filed with the Commissioner of the suspension, revocation, surrender or expiration of the license. Upon suspension, revocation, surrender or expiration of a license, applicable authorized delegates shall immediately cease to provide money transmission as an authorized delegate of the licensee.

5. An authorized delegate of a licensee holds in trust for the benefit of the licensee all money, net of fees, received from money transmission. If any authorized delegate commingles any money or credits received from money transmission with any other money or property owned or controlled by the authorized delegate, all commingled money and other property shall be considered held in trust in favor of the licensee in an amount equal to the amount of money, net of fees, received from money transmission.

6. An authorized delegate may not use a subdelegate to conduct money transmission on behalf of a licensee.

7. As used in this section, “ remit ” means to make direct payments of money, credits or monetary value to a licensee or its representative authorized to receive money or to deposit money in an account specified by the licensee in a bank or credit union authorized to do business in this State.
Nev. Rev. Stat. § 662.115 — NV Code / Title 55 / Chapter 662 / Section 662.115
Issuance of capital notes, debentures and collateralized debt securities and certificates
Status: in_force

A bank may issue capital notes, collateralized debt securities, collateralized debt certificates, or debentures, convertible or otherwise, subject to such regulations as the Commissioner may adopt with respect thereto.
Nev. Rev. Stat. § 671.015 — NV Code / Title 55 / Chapter 671 / Section 671.015
“Passive investor” defined
Status: in_force

“ Passive investor ” means a person that:

1. Does not have the power to elect a majority of key individuals or executive officers, managers, directors, trustees or other persons exercising managerial authority of a person in control of a licensee;

2. Is not employed by and does not have any managerial duties of a licensee or person in control of a licensee;

3. Does not have the power to exercise, directly or indirectly, a controlling influence over the management or policies of a licensee or person in control of a licensee; and

4. Does either of the following: (a) Attests to the characteristics set forth in subsections 1, 2 and 3 in a form prescribed by the Commissioner; or (b) Commits to the characteristics set forth in subsections 1, 2 and 3 in a written document.
Nev. Rev. Stat. § 675.150 — NV Code / Title 55 / Chapter 675 / Section 675.150
Procedure for denial of license
Status: in_force

1. If the Commissioner finds that any applicant does not possess the requirements specified in this chapter, he or she shall enter an order denying the application and forthwith notify the applicant of the denial.

2. Within 10 days after the entry of such an order, he or she shall file his or her findings and a summary of the evidence supporting them and shall forthwith deliver a copy thereof to the applicant.
Nev. Rev. Stat. § 676A.370 — NV Code / Title 55 / Chapter 676A / Section 676A.370
Renewal of registration: Application; form; contents; fees; disclosure; denial; cancellation and reinstatement
Status: in_force

1. A registration as a provider expires on December 31 of each year, unless it is renewed.

2. An application for renewal of registration as a provider must be in a form prescribed by the Commissioner, signed under oath, and: (a) Be filed on or after November 1 and on or before December 31 of each year; (b) Be accompanied by the fee established by the Commissioner and the bond required by NRS 676A.390 ; (c) Contain the matter required for initial registration as a provider by subsections 8 and 9 of NRS 676A.320 and a financial statement, audited by an accountant licensed to conduct audits, for the applicant's fiscal year immediately preceding the application; (d) Disclose any changes in the information contained in the applicant's application for registration or its immediately previous application for renewal, as applicable, and if an application is otherwise complete and the applicant has made a timely effort to submit a complete set of fingerprints of each applicable person specified in NRS 676A.440 , but the fingerprints have not been received, the Commissioner may issue a temporary renewal of registration which expires not later than 180 days after issuance; (e) Supply evidence of insurance in an amount equal to the larger of $250,000 or the highest daily balance in the trust account required by NRS 676A.570 during the 6-month period immediately preceding the application: (1) Against risks of dishonesty, fraud, theft and other misconduct on the part of the applicant or a director, employee or agent of the applicant; (2) Issued by an insurance company authorized to do business in this State and rated at least A or equivalent by a nationally recognized rating organization approved by the Commissioner; (3) With a deductible not exceeding $5,000; (4) Payable for the benefit of the applicant, this State and the individuals who are residents of this State, as their interests may appear; and (5) Not subject to cancellation by the applicant or the insurer until 60 days after written notice has been given to the Commissioner; (f) If the applicant has developed and implemented debt-management plans, disclose: (1) The total amount of money received by the applicant pursuant to plans during the preceding 12 months from or on behalf of individuals who reside in this State and the total amount of money distributed to creditors of those individuals during that period; and (2) To the best of the applicant's knowledge, the gross amount of money accumulated during the preceding 12 months pursuant to plans by or on behalf of individuals who reside in this State and with whom the applicant has agreements; and (g) Provide any other information that the Commissioner reasonably requires to perform the Commissioner's duties under this section.

3. Except as otherwise provided in this subsection, the Commissioner shall make the information in an application for renewal of registration as a provider available to the public. 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.

4. If a registered provider files a timely and complete application for renewal of registration, the registration remains effective until the Commissioner, in a record, notifies the applicant of a denial and states the reasons for the denial.

5. If the Commissioner denies an application for renewal of registration as a provider, the applicant, within 30 days after receiving notice of the denial, may appeal and request a hearing pursuant to NRS 233B.121 to 233B.150 , inclusive. Subject to NRS 676A.750 , while the appeal is pending, the applicant must continue to provide debt-management services to individuals with whom it has agreements. If the denial is affirmed, subject to the Commissioner's order and NRS 676A.750 , the applicant must continue to provide debt-management services to individuals with whom it has agreements until, with the approval of the Commissioner, it transfers the agreements to another registered provider or returns to the individuals all unexpended money that is under the applicant's control.

6. Except as otherwise provided in this section, if an applicant for renewal of a certificate of registration as a provider fails to submit any item required in this section to the Commissioner on or after November 1 and on or before December 31 of any year, the registration is cancelled as of December 31 of that year. The Commissioner may reinstate a cancelled registration if the applicant submits to the Commissioner on or before February 28 of the following year, all information and fees required for renewal pursuant to this section.
Nev. Rev. Stat. § 666.125 — NV Code / Title 55 / Chapter 666 / Section 666.125
Approval required before acquisition of bank; application; considerations
Status: in_force

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

2. The application for approval must include such information with respect to the financial condition, operations, management and intercompany relationships of the bank which is to be acquired and the bank holding company as the Commissioner may deem necessary or appropriate.

3. In considering the application for approval, the Commissioner shall consider: (a) The financial condition of the bank holding company and any banks owned by it; (b) The probable effect of the acquisition on: (1) The bank holding company; (2) Any banks owned by the bank holding company; and (3) The bank which is to be acquired; and (c) The effect of the acquisition upon competition in banking.
Nev. Rev. Stat. § 675.190 — NV Code / Title 55 / Chapter 675 / Section 675.190
Posting of licenses
Status: in_force

Each license shall be kept conspicuously posted in the licensed place of business.
Nev. Rev. Stat. § 670B.010 — NV Code / Title 55 / Chapter 670B / Section 670B.010
Definitions
Status: in_force

As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 670B.020 to 670B.130 , inclusive, have the meanings ascribed to them in those sections.
Nev. Rev. Stat. § 663.075 — NV Code / Title 55 / Chapter 663 / Section 663.075
School thrift or savings plans
Status: in_force

1. A bank or credit union may arrange for the collection of savings from school children by the principal of the school, by the teachers, or by collectors pursuant to regulations issued by the Commissioner and approved, in the case of public schools, by the board of trustees of the school district in which the school is situated. The principal, teacher or person authorized by the bank or credit union to make collections from the school children must be the agent of the bank or credit union to make collections from the school children, and the bank or credit union is liable to the pupil for all deposits made with such principal, teacher or other authorized person to the same extent as if the deposits were made directly with the bank or credit union.

2. The acceptance of deposits in furtherance of a school thrift or savings plan by an officer, employee or agent of a bank or credit union at any school is not the establishment or operation of a branch facility.
Nev. Rev. Stat. § 671.425 — NV Code / Title 55 / Chapter 671 / Section 671.425
Discontinuance of licensee's business: Notice; surrender of license; order of Commissioner; possession of business and property by Commissioner; appointment of receiver
Status: in_force

1. Within 5 days after a discontinuance of a licensee's business, the licensee shall inform the Commissioner of the discontinuance and shall surrender his or her license for cancellation.

2. If, as a result of any investigation, hearing, report or examination, the Commissioner finds that a licensee is insolvent or is conducting his or her business in such a manner as to render the licensee’s further operations hazardous to the public, the Commissioner may, through an order served by registered or certified mail upon the licensee and any person possessing money of the licensee or the licensee’s customers, require the immediate discontinuance of the disbursement of the money and the cessation of the licensee's business. The order remains in effect until: (a) It is set aside, in whole or in part, by the Commissioner; (b) The licensee has been adjudged a bankrupt; or (c) A receiver for the licensee has been appointed by a court of competent jurisdiction.

3. If a court does not have jurisdiction over the licensee, the Commissioner may take possession of the licensee's business and property until the licensee complies with the requirements of the Commissioner for resumption of business or the licensee's affairs are finally liquidated.

4. Whenever the Commissioner takes possession of a licensee's business and property, the Commissioner may petition the court for appointment of a receiver to liquidate the affairs of the licensee.
Nev. Rev. Stat. § 666.135 — NV Code / Title 55 / Chapter 666 / Section 666.135
Approval of transfer of control required; grounds for disapproval
Status: in_force

1. Any transfer of stock or trust certificates of a bank holding company by sale, gift or otherwise, which will result in giving the person who receives the shares voting control of the bank holding company must be approved by the Commissioner before the transfer.

2. The Commissioner shall not approve a transfer if the Commissioner determines that the person who will gain control has been removed from a position as a director, officer or employee of a bank holding company, bank or other financial institution pursuant to an order of a state or federal agency.

3. The Commissioner may disapprove the transfer if in the Commissioner’s opinion the person who will gain control does not meet the requirements for an officer, director or stockholder set forth in subsection 3 of NRS 666.115 .
Nev. Rev. Stat. § 661.235 — NV Code / Title 55 / Chapter 661 / Section 661.235
Limitation on declaring dividend or making distribution; exception
Status: in_force

1. As used in this section, “net profits” means the remainder of all earnings from operations plus actual recoveries on loans and investments and other assets, after deducting from the total thereof all operating expenses, actual losses, transfers to reserve for loan losses, and all federal and state taxes.

2. Except as otherwise provided in subsection 3, the directors of any state bank shall not declare a dividend or make a distribution of the net profits of the bank until: (a) The surplus fund of the bank equals its initial stockholders' or members' equity, not including its initial surplus fund; (b) There has first been carried to the surplus fund 10 percent of the previous year's net profit; and (c) The bank complies with the requirements set forth in NRS 661.025 .

3. Except as otherwise provided in NRS 661.240 , the directors of a state bank that maintains the insurance of deposits required pursuant to the provisions of the Federal Deposit Insurance Act, 12 U.S.C. §§ 1811 et seq., may declare a dividend or make a distribution of so much of the net profits of the bank as they determine is expedient.
Nev. Rev. Stat. § 673.720 — NV Code / Title 55 / Chapter 673 / Section 673.720
Time of cessation as federal savings bank or state or national bank; time of vesting of property in savings bank under new name and style
Status: in_force

Upon the filing of the articles of incorporation with the Secretary of State, the institution ceases to be a federal savings bank, national bank or state bank, as applicable, and thereafter is a savings bank. All of the property of the converting institution, including all of its right, title and interest in and to all property of every kind and character, whether real, personal or mixed, immediately by operation of law, without any conveyance or transfer and without any further act or deed, vests in the savings bank under its new name and style as a savings bank, and under its new jurisdiction.
Nev. Rev. Stat. § 676A.440 — NV Code / Title 55 / Chapter 676A / Section 676A.440
Additional materials required to be submitted to Registry
Status: in_force

1. In addition to any other requirements set forth by specific statute, each applicant for the issuance of a registration and each owner, officer, director and responsible person of the applicant, each person in control of the applicant and any other person the Commissioner may require in accordance with guidelines of the Registry or other multistate agreements shall submit to the Registry: (a) A complete set of fingerprints for submission to the Federal Bureau of Investigation and any other governmental agency or entity authorized to receive such information for a state, national and international background check on the criminal history of the person; (b) Information concerning the personal history, financial history and experience of the person in a form prescribed by the Registry, including, without limitation, an authorization of the person for the Registry and the Commissioner to obtain: (1) An independent credit report and credit score from a consumer reporting agency described in section 603(f) of the Fair Credit Reporting Act, 15 U.S.C. § 1681a(f) , for the purpose of evaluating the financial responsibility of the person at the time of the submission of the application; and (2) Additional independent credit reports and credit scores to confirm that the applicant continues to comply with any applicable requirements concerning financial responsibility; (c) Information related to any administrative, civil or criminal findings made by any governmental jurisdiction concerning the person; and (d) Any other information concerning the person that the Registry or Commissioner may require.

2. As used in this section: (a) “ Control ” has the meaning ascribed to it in NRS 682A.047 . (b) “ Responsible person ” means a person who is employed by an applicant and who has principal, active managerial authority over the provision of services in this State.
Nev. Rev. Stat. § 677.355 — NV Code / Title 55 / Chapter 677 / Section 677.355
Licensee may own interest in bank or savings bank
Status: in_force

The provisions of this chapter do not prohibit a licensee or a person owning an interest in a licensee from obtaining a license or owning an interest in a corporation licensed under chapter 659 or 673 of NRS .
Nev. Rev. Stat. § 673.0065 — NV Code / Title 55 / Chapter 673 / Section 673.0065
“Director” defined
Status: in_force

“Director” means the Director of the Department of Business and Industry.
Nev. Rev. Stat. § 677.100 — NV Code / Title 55 / Chapter 677 / Section 677.100
“License” defined
Status: in_force

“License” means a license, issued under the authority of this chapter, to accept deposits and make loans in accordance with the provisions of this chapter, at a single place of business.
Nev. Rev. Stat. § 675.280 — NV Code / Title 55 / Chapter 675 / Section 675.280
False, misleading or deceptive advertising prohibited
Status: in_force

A licensee shall not advertise or permit to be advertised in any manner whatsoever any false, misleading or deceptive statement or representation with regard to the rates, terms or conditions for loans.
Nev. Rev. Stat. § 662.186 — NV Code / Title 55 / Chapter 662 / Section 662.186
Operating cash: Minimum cash and demand balances; reserves
Status: in_force

1. Each bank doing business under the laws of this state shall have on hand, in cash, at least the sum of money determined by the Commissioner as necessary to meet the operating requirements of the bank and at least a required sum consisting of demand balances due from good and solvent banks.

2. Any bank organized under the laws of this state shall carry or maintain as a reserve at least that amount of money which is required under the terms of the Federal Reserve Act. 1

1 12 U.S.C.A. § 221 et seq.
Nev. Rev. Stat. § 671.0105 — NV Code / Title 55 / Chapter 671 / Section 671.0105
“Material litigation” defined
Status: in_force

“ Material litigation ” means litigation that, according to generally accepted accounting principles in the United States, is significant to the financial health of a person and would be required to be disclosed by the person in an annual audited financial statement, report to shareholders or similar record.
Nev. Rev. Stat. § 673.690 — NV Code / Title 55 / Chapter 673 / Section 673.690
Converting institution and directors to take necessary action to incorporate as state savings bank; no minimum amount of capital required
Status: in_force

1. After the meeting, the converting institution shall take such action in the manner prescribed and authorized by the laws of this state as shall make it a savings bank of this state, and the directors elected at the meeting shall file such documents and follow such procedures as are required by the laws of this state in the case of the original incorporation of a savings bank.

2. A savings bank incorporated by conversion from a federal savings bank, national bank or state bank shall not be required to comply with any of the provisions of law or any regulation adopted by the Commissioner relating to the minimum amounts of capital required to be subscribed in connection with the original incorporation of a savings bank under the laws of this state.
Nev. Rev. Stat. § 671.013 — NV Code / Title 55 / Chapter 671 / Section 671.013
“Money transmission” defined
Status: in_force

1. “ Money transmission ” means any of the following: (a) Selling or issuing payment instruments to a person located in this State. (b) Selling or issuing stored value to a person located in this State. (c) Receiving money or credits for transmission from a person located in this State.

2. The term includes payroll processing services.

3. The term does not include the provision solely of online or telecommunications services or network access.
Nev. Rev. Stat. § 657.035 — NV Code / Title 55 / Chapter 657 / Section 657.035
“Demand deposits” defined
Status: in_force

“Demand deposits” means all deposits the immediate withdrawal of which can be legally required upon a proper written request for such payment.
Nev. Rev. Stat. § 675.490 — NV Code / Title 55 / Chapter 675 / Section 675.490
Administrative fines
Status: in_force

In addition to any other remedy or penalty, the Commissioner may impose an administrative fine of not more than $10,000 upon a person who, without a license, conducts any business or activity for which a license is required pursuant to the provisions of this chapter.
Nev. Rev. Stat. § 673.440 — NV Code / Title 55 / Chapter 673 / Section 673.440
Commissioner may require further information
Status: in_force

Each such foreign or domestic savings bank, association, company or corporation shall cause to be supplied to the Commissioner at any time, upon his or her demand, any information which he or she may require as to its condition, affairs or methods.
Nev. Rev. Stat. § 673.730 — NV Code / Title 55 / Chapter 673 / Section 673.730
Enjoyment of property by converted savings bank; savings bank as continuation of previous institution
Status: in_force

The savings bank shall have, hold and enjoy the property mentioned in NRS 673.720 in its own right as fully and to the same extent as the property was possessed, held and enjoyed by it as a federal savings bank, national bank or state bank, and the savings bank continues to be responsible for all of the obligations of the institution before its conversion to the same extent as though the conversion had not taken place. It is expressly declared that the savings bank is merely a continuation of the institution before its conversion under a new name, a new jurisdiction and such revision of its corporate structure as may be considered necessary for its proper operation under the new jurisdiction.
Nev. Rev. Stat. § 676A.330 — NV Code / Title 55 / Chapter 676A / Section 676A.330
Duty to report changes in information
Status: in_force

An applicant or registered provider shall notify the Commissioner within 10 days after a change in the information specified in paragraph (d) or (f) of subsection 2 of NRS 676A.310 or subsection 1 , 3, 6, 12 or 13 of NRS 676A.320 .
Nev. Rev. Stat. § 670B.620 — NV Code / Title 55 / Chapter 670B / Section 670B.620
Authorized activities of Commissioner concerning student education loans: Monitoring and assessment of market; gathering information regarding private education lenders and student loan servicers; developing and publicizing metrics; meeting and conferring with certain governmental entities
Status: in_force

1. The Commissioner may monitor the market for the provision of student loan servicing and student education loans, including, without limitation, private education loans, to identify risks to consumers. In conducting such monitoring, the Commissioner may compile and analyze data and other information to assess: (a) The likely risk and costs to consumers associated with using or repaying a student education loan or with the servicing of a student education loan; (b) The understanding by consumers of the risks of a student education loan or the servicing of a student education loan; (c) The legal protections applicable to the offering or provision of a student education loan or the servicing of a student education loan and the adequacy of those legal protections to protect consumers; (d) The rates of growth in the offering or provision of a student education loan or the servicing of that loan; (e) The extent, if any, to which the risks of a student education loan or the servicing of a student education loan disproportionately affect traditionally underserved consumers; and (f) The type, number and other pertinent characteristics of private education lenders and student loan servicers in this State.

2. To the extent that state law is not preempted by federal law, in conducting monitoring or assessment pursuant to this section the Commissioner may gather information regarding the organization, business conduct, markets and activities of private education lenders and student loan servicers in this State. The Commissioner may enter into contracts to perform the activities authorized by this section, as necessary.

3. In order to gather information described in subsection 2, the Commissioner may: (a) Gather and compile information from a variety of sources, including, without limitation, consumer complaints, voluntary surveys and voluntary interviews of consumers, surveys and interviews of private education lenders and student loan servicers and available databases; and (b) Require persons engaged in private education lending or student loan servicing in this State to file, under oath or otherwise, in the form and within a reasonable period of time as the Commissioner may prescribe, any annual or special reports or answers in writing to specific questions that the Commissioner deems necessary to carry out the provisions of this section.

4. In addition to any other monitoring activities authorized by this section, the Commissioner may gather and compile information from private education lenders and student loan servicers to assemble data concerning the total size of the student education loan market in this State, the servicing of student education loans owed by borrowers at risk of default, the servicing of private education loans owed by borrowers experiencing financial distress and the servicing of federal student education loans for borrowers who seek to repay their loans under an income-driven repayment plan, as described in 20 U.S.C. §§ 1070 et seq.

5. The Commissioner may, on a quarterly basis, develop and publicize metrics based on data collected pursuant to this section. Such metrics may include, without limitation, relevant performance metrics concerning specifically identified private education lenders and student loan servicers.

6. In conducting the activities authorized by this section, the Commissioner may meet and confer with the Student Loan Ombudsman, designated pursuant to NRS 226.560 , the Office of the Attorney General and the Nevada System of Higher Education.
Nev. Rev. Stat. § 672.390 — NV Code / Title 55 / Chapter 672 / Section 672.390
Appointment of audit committee: Duties; powers; suspension of member; employment of certified public accountant
Status: in_force

1. The board may appoint an audit committee to make an annual audit of the financial records of the credit union and any interim audits as may be deemed necessary by the board or as may be directed by the Commissioner. A copy of the report must be submitted to the board and the Commissioner and a summary presented to the members at the next annual meeting.

2. The audit committee may by unanimous vote suspend any director, officer or member of the credit union following an audit, for any violation of this chapter, the charter or bylaws or for any other practice which the audit committee deems to be unsafe or unauthorized. In such cases, the audit committee shall call a special meeting of the members not less than 7 nor more than 21 days following the suspension and the suspension must be ratified or overturned by the members.

3. Any member of the audit committee may be suspended by the board for the same reasons and in the same manner as provided in subsection 2.

4. The audit committee may by a majority vote call a special meeting of the members to consider any violation of this chapter, the charter or bylaws or any practice of the credit union deemed by the audit committee to be unsafe or unauthorized.

5. The board of directors or the audit committee may employ the services of a certified public accountant to complete the necessary audit of the records of the credit union.
Nev. Rev. Stat. § 673.222 — NV Code / Title 55 / Chapter 673 / Section 673.222
Authority of savings bank to indemnify and defend officers, directors, employees, agents and other parties
Status: in_force

Nothing in this chapter limits the authority of a savings bank to indemnify and defend, or to provide reimbursement for expenses of defending an action to, officers, directors, employees, agents or other parties as such authority may be provided under the laws of this State, if such indemnification does not violate the limitations on indemnification imposed by section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. § 1828(k) , and the regulations issued thereunder by the Federal Deposit Insurance Corporation.
Nev. Rev. Stat. § 676A.170 — NV Code / Title 55 / Chapter 676A / Section 676A.170
“Good faith” defined
Status: in_force

“ Good faith ” means honesty in fact and the observance of reasonable standards of fair dealing.
Nev. Rev. Stat. § 667.135 — NV Code / Title 55 / Chapter 667 / Section 667.135
Petition for appointment of successor trustee: Publication and contents of notice
Status: in_force

Such notice shall be published in the manner required by the Nevada Rules of Civil Procedure for service of summons by publication, and shall set forth the names of the parties to the indenture, deed of trust or other such instrument, the date thereof, and the place or places where such instrument is recorded.
Nev. Rev. Stat. § 671.0175 — NV Code / Title 55 / Chapter 671 / Section 671.0175
“Receiving money or credits for transmission” defined
Status: in_force

“ Receiving money or credits for transmission ” means the act of receiving money, credits or monetary value in the United States for transmission within or outside the United States by electronic or other means.
Nev. Rev. Stat. § 671.285 — NV Code / Title 55 / Chapter 671 / Section 671.285
Annual filing of financial statement and other information with Commissioner; requirements for financial statement; order to remove qualification in financial statement
Status: in_force

1. A licensee shall, within 90 days after the end of each fiscal year or within such extended period as approved by the Commissioner, file with the Commissioner: (a) An audited financial statement of the licensee for the fiscal year prepared in accordance with generally accepted accounting principles in the United States; and (b) Any other information the Commissioner may reasonably require.

2. The audited financial statement filed pursuant to subsection 1 must: (a) Be prepared by an independent certified public accountant or independent public accountant who is satisfactory to the Commissioner. (b) Include or be accompanied by a certificate of opinion of the independent certified public accountant or independent public accountant, as applicable, that is satisfactory in form and content to the Commissioner. If such a certificate or opinion is qualified, the Commissioner may order the licensee to take any action the Commissioner deems necessary to enable the independent certified public accountant or independent public accountant to remove the qualification.
Nev. Rev. Stat. § 672.288 — NV Code / Title 55 / Chapter 672 / Section 672.288
Authorization of Commissioner to investigate business; free access required; compelling attendance of witnesses
Status: in_force

1. For the purpose of discovering violations of this chapter or of securing information lawfully required under this chapter, the Commissioner or his or her duly authorized representatives may at any time investigate the business and examine the books, accounts, papers and records used therein of: (a) Any credit union; (b) Any other person engaged in an activity for which a license is required pursuant to the provisions of this chapter; and (c) Any person whom the Commissioner has reasonable cause to believe is violating or is about to violate any provision of this chapter, whether or not the person claims to be within the authority or beyond the scope of this chapter.

2. For the purpose of examination, the Commissioner or his or her authorized representatives shall have and be given free access to the offices and places of business, files, safes and vaults of such persons.

3. The Commissioner may require the attendance of any person and examine him or her under oath regarding: (a) Any transaction or business regulated pursuant to the provisions of this chapter; or (b) The subject matter of any audit, examination, investigation or hearing.
Nev. Rev. Stat. § 675.020 — NV Code / Title 55 / Chapter 675 / Section 675.020
Definitions
Status: in_force

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

1. “ Amount of cash advance ” means the amount of cash or its equivalent actually received by a borrower or paid out at his or her direction or on his or her behalf.

2. “ Amount of loan obligation ” means the amount of cash advance plus the aggregate of charges added thereto pursuant to authority of this chapter.

3. “ Breach of the security of the computerized data system ” or “ breach ” means the unauthorized acquisition of computerized data from the computerized data system of the licensee that compromises the security, confidentiality or integrity of personal information maintained by the licensee. The term does not include the good faith acquisition of personal information by an employee or agent of a licensee for a legitimate purpose of the licensee, so long as the personal information is not used for a purpose unrelated to the licensee or subject to further authorized disclosure.

4. “ Business of lending in this State ” means that a person: (a) Solicits loans in this State or makes loans to persons in this State, unless these are isolated, incidental or occasional transactions; or (b) Is located in this State and solicits loans outside of this State or makes loans to persons located outside of this State, unless these are isolated, incidental or occasional transactions.

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

6. “ Community ” means a contiguous area of the same economic unit or metropolitan area as determined by the Commissioner, and may include all or part of a city or several towns or cities.

7. “ Computerized data system ” means a system of software, hardware or firmware, including, without limitation, a system of web-based applications, that: (a) Is owned, leased or licensed by a licensee; (b) Is located at the place of business of the licensee or hosted remotely; and (c) Stores or provides access to personal information, financial information or other data related to borrowers or potential borrowers.

8. “ Consumer credit ” has the meaning ascribed to it in NRS 604A.036 .

9. “ Covered service member ” has the meaning ascribed to it in NRS 604A.038 .

10. “ Dependent ” has the meaning ascribed to it in NRS 604A.057 .

11. “ Internet business lender ” means a person who makes business loans exclusively through the Internet.

12. “ License ” means a license, issued under the authority of this chapter, to make loans in accordance with the provisions of this chapter, at a single place of business.

13. “ Licensee ” means a person to whom one or more licenses have been issued.

14. “ Nationwide Multistate Licensing System and Registry ” or “ Registry ” has the meaning ascribed to it in NRS 604A.083 .

15. “ Personal information ” has the meaning ascribed to it in NRS 603A.040 .

16. “ Remote location ” means a location other than an office or place of business for which a license has been issued pursuant to this chapter and at which an employee of a licensee engages in the business of lending in this State pursuant to NRS 675.2965 to 675.299 , inclusive.
Nev. Rev. Stat. § 673.5918 — NV Code / Title 55 / Chapter 673 / Section 673.5918
Deposit of books, papers and records with Commissioner upon final liquidation
Status: in_force

All books, papers and records of a savings bank which has been finally liquidated must be deposited by the receiver in the Office of the Commissioner.
Nev. Rev. Stat. § 675.180 — NV Code / Title 55 / Chapter 675 / Section 675.180
Licensee to maintain minimum assets
Status: in_force

Every licensee shall maintain assets of at least $50,000 either used or readily available for use in the conduct of the business of each licensed office.
Nev. Rev. Stat. § 677.620 — NV Code / Title 55 / Chapter 677 / Section 677.620
Limit on deposits; limit on total borrowings; borrowing money from Federal Home Loan Bank
Status: in_force

1. Except as otherwise provided in subsections 2 and 3, a licensee shall not have at any time deposits in an aggregate sum in excess of 10 times the aggregate amount of its stockholders' equity.

2. A licensee insured by the Federal Deposit Insurance Corporation shall comply with the limits imposed by that insurer, if any.

3. If a licensee has operated under this chapter for 1 year or more and during its most recent fiscal year has been profitable, the Commissioner may increase the ratio of deposits to stockholders' equity prescribed in subsection 1 to not more than the greatest net worth to savings ratio permitted for any savings and loan association or savings bank operating in this state. The Commissioner shall give his or her approval or denial of the application for an increased ratio to the licensee in writing with supporting reasons within 30 days after the date of the application submitted by the licensee unless the Commissioner gives notice within the original 30-day period that he or she is extending the period for decision for a period not to exceed an additional 30 days. The Commissioner may, for reasonable cause, decrease the ratio authorized under this subsection at any time, but not below the ratio prescribed in subsection 1.

4. A licensee may not have total borrowings, exclusive of deposits, which exceed the larger of: (a) Five times its stockholders' equity; or (b) The face amount of total deposits at the time a borrowing is made.

5. A licensee may borrow money from a Federal Home Loan Bank. Money borrowed pursuant to this subsection shall not be deemed borrowed money for the purposes of the limitations prescribed in subsection 4. A licensee may pledge any of its assets as collateral security for money borrowed pursuant to this subsection.
Nev. Rev. Stat. § 666A.140 — NV Code / Title 55 / Chapter 666A / Section 666A.140
Posting of license; transfer or assignment of license prohibited
Status: in_force

1. Each foreign bank which is licensed to establish and maintain a state branch, agency or representative office shall post its license in a conspicuous place at such branch, agency or office.

2. A license issued by the Commissioner pursuant to this chapter is not transferable or assignable.
Nev. Rev. Stat. § 677.148 — NV Code / Title 55 / Chapter 677 / Section 677.148
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.160 — NV Code / Title 55 / Chapter 676A / Section 676A.160
“Entity” defined
Status: in_force

“ Entity ” means a person other than an individual.
Nev. Rev. Stat. § 671.100 — NV Code / Title 55 / Chapter 671 / Section 671.100
Bond: Amounts; form; notice to Commissioner of action or judgment; replenishment; liability of surety; increase in amount; cancellation or alteration
Status: in_force

1. Except as provided in NRS 671.110 , each licensee shall have in force a surety bond payable to the State of Nevada for the use and benefit of any purchaser or holder of any outstanding money transmission obligation and for value in the principal sum of the greater of: (a) One hundred thousand dollars; or (b) An amount equal to 100 percent of the average daily money transmission liability in this State calculated for the most recently completed quarter, to a maximum of $500,000.

2. A licensee may maintain a bond in a principal sum that exceeds $500,000. A licensee that maintains a bond in a principal sum of $500,000 or more is not required to calculate the average daily money transmission liability in this State for the purposes of subsection 1.

3. The bond must be in a form satisfactory to the Commissioner, issued by a bonding company authorized to do business in this State, and must secure the faithful performance of the obligations of the licensee respecting the provision of money transmission.

4. A licensee shall, within 10 days after the commencement of any action or notice of entry of any judgment against the licensee by any creditor or claimant arising out of business regulated by this chapter, give notice thereof to the Commissioner by registered or certified mail with details sufficient to identify the action or judgment. The surety shall, within 10 days after it pays any claim or judgment to a creditor or claimant, give notice thereof to the Commissioner by registered or 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 bond is reduced by recoveries or payments thereon, the licensee shall furnish: (a) A new or additional bond so that the total or aggregate principal sum of the bonds equals the sum required under subsection 1; or (b) An endorsement, duly executed by the surety reinstating the bond to the required principal sum.

6. The liability of the surety on the bond to a creditor or claimant is not affected by any misrepresentation, breach of warranty, failure to pay a premium or other act or omission of the licensee, or by any insolvency or bankruptcy of the licensee.

7. The liability of the surety continues as to all transactions entered into in good faith by the creditors and claimants with the licensee's authorized delegates within 30 days after: (a) The licensee's death or the dissolution or liquidation of the licensee's business; or (b) The termination of the bond, whichever event occurs first.

8. Whenever the Commissioner determines that the protection of the public so requires, the Commissioner may order that an increase be made in the principal sum of the bond of any licensee, except that the Commissioner may not order an increase of more than $10,000 if the licensee has submitted a current financial statement, or more than $15,000 otherwise.

9. Neither a licensee nor the licensee's surety may cancel or alter a bond except after notice to the Commissioner by registered or certified mail. The cancellation or alteration is not 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 before the expiration of the 30-day period designated in subsection 7.
Nev. Rev. Stat. § 657.120 — NV Code / Title 55 / Chapter 657 / Section 657.120
Fees and charges: Imposition and collection by financial institution; limitations
Status: in_force

1. A financial institution may impose and collect a fee or charge, not to exceed an amount specified in or limited by specific statute, for any service it provides to a customer, if the fee or charge is clearly and conspicuously disclosed in writing to the customer before the customer receives the service. A financial institution must provide a customer with written notice of any increase in the fee or charge at least 10 days before the increase becomes effective.

2. A fee or charge for the presentation for payment, on a single business day, of multiple checks drawn by a customer on an account for which there is an insufficient balance to pay all the checks, must be determined as if the checks drawn in a single series or class were presented: (a) In the order the checks were written; (b) From the lowest check number to the highest check number; or (c) In order of ascending amounts, the check for the smallest sum being presented first.

3. As used in this section, “ financial institution ” means an institution licensed pursuant to the provisions of this title or chapter 645B or 649 of NRS , or a similar institution chartered or licensed pursuant to federal law.
Nev. Rev. Stat. § 657.055 — NV Code / Title 55 / Chapter 657 / Section 657.055
“Net earnings” defined
Status: in_force

“Net earnings” means the excess of the gross earnings of any bank over the expenses and losses chargeable against such earnings.
Nev. Rev. Stat. § 669.045 — NV Code / Title 55 / Chapter 669 / Section 669.045
“Fiduciary” defined
Status: in_force

1. “ Fiduciary ” means a trustee, executor, administrator, guardian of an estate, personal representative, conservator, assignee for the benefit of creditors, receiver, depositary or person that receives on deposit money or property from a public administrator or a person employed or contracted with pursuant to NRS 253.125 , as applicable, under any provision of this chapter or from another fiduciary.

2. As used in this section, “ administrator ”: (a) Includes servicers or administrators of individual retirement accounts within the meaning of section 408(a) of the Internal Revenue Code of 1986 , 26 U.S.C. § 408(a) , where the servicer or administrator holds itself out to the public for performance of such services and holds or maintains an ownership interest in the servicing rights of such accounts, or possesses or controls any of the assets of such accounts, including cash. (b) Does not include a trust company or savings bank that acts as a custodian for individual retirement accounts within the meaning of section 408(a) of the Internal Revenue Code of 1986 , 26 U.S.C. § 408(a) , or an affiliate of such a trust company or savings bank that provides services to the trust company or savings bank.
Nev. Rev. Stat. § 658.085 — NV Code / Title 55 / Chapter 658 / Section 658.085
Advisory capacity of State Board of Finance
Status: in_force

The State Board of Finance shall act in an advisory capacity to the Division of Financial Institutions in the administration of the provisions of chapters 657 to 671, inclusive, of NRS and perform such other functions as are required by those provisions.
Nev. Rev. Stat. § 666A.200 — NV Code / Title 55 / Chapter 666A / Section 666A.200
State branch or agency: Amendment of articles of incorporation
Status: in_force

If the articles of incorporation of a foreign bank which is licensed to maintain a state branch or agency are amended, the foreign bank shall forthwith file in the Office of the Commissioner a copy of the amendment authenticated by the proper officer of the country of the foreign bank's organization, but the filing thereof does not of itself enlarge or alter the purpose or purposes which the foreign bank is authorized to pursue in the transaction of its business in this state, nor authorize the foreign bank to transact business in this state under any name other than the name set forth in its license, nor extend the duration of its corporate existence.
Nev. Rev. Stat. § 666.085 — NV Code / Title 55 / Chapter 666 / Section 666.085
Regulations; reports to determine compliance
Status: in_force

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

2. The Commissioner may require bank holding companies to submit reports under oath to determine whether they have complied with the provisions of NRS 666.065 to 666.215 , inclusive, and any regulations adopted pursuant to this section.
Nev. Rev. Stat. § 666.025 — NV Code / Title 55 / Chapter 666 / Section 666.025
Effect of consolidation of banks
Status: in_force

1. When an agreement of consolidation is made and a certified copy thereof is filed with the Secretary of State, together with a certified copy of the approval of the Commissioner of the consolidation, the banks which are parties to the consolidation become one bank, possessed of the rights, privileges, powers and franchises of the several banks, but subject to all the provisions of law under which it is created.

2. The directors and other officers named in the agreement of consolidation shall serve until the first annual meeting for election of officers and directors, the date for which must be named in the agreement.

3. On filing such agreement, the property and rights of every kind of the several banks are thereby transferred and vested in such new bank, and are as fully its property as they were of the banks which were parties to the agreement.
Nev. Rev. Stat. § 661.135 — NV Code / Title 55 / Chapter 661 / Section 661.135
Directors or managers: Number; selection
Status: in_force

1. The affairs and business of a banking corporation organized under the laws of this State must be managed or controlled by a board of directors of not less than five in number, who must be selected from the stockholders at the annual meeting of stockholders in such manner as may be provided by the bylaws of the corporation.

2. The affairs and business of a banking company so organized must be managed or controlled by no fewer than three managers selected from the members as provided in the operating agreement.
Nev. Rev. Stat. § 670B.690 — NV Code / Title 55 / Chapter 670B / Section 670B.690
Denial, suspension, revocation or refusal to renew license: Authority of Commissioner; grounds
Status: in_force

The Commissioner may, as applicable, deny an application for a license issued pursuant to this chapter or suspend, revoke or refuse to renew a license issued pursuant to this chapter if the Commissioner finds that:

1. The applicant, licensee or a control person of the applicant or licensee has violated any provision of this chapter or any regulation adopted pursuant thereto;

2. With regard to a licensee or a control person of the licensee, any fact or condition exists which, if it had existed at the time of the original application for the license, would have resulted in a denial of the application; or

3. The licensee has failed to pay, within 30 days after receiving an itemized statement or other demand for payment from the Commissioner, any assessment, fee or cost required pursuant to this chapter.
Nev. Rev. Stat. § 662.205 — NV Code / Title 55 / Chapter 662 / Section 662.205
Membership in Federal Reserve Bank: Authorization; powers, duties and examination of member
Status: reserved

1. As used in this section: (a) “Board of Governors of the Federal Reserve System” means the Board of Governors of the Federal Reserve System created and described in the Federal Reserve Act. 1 (b) “Federal Reserve Act” means the Act of Congress, approved December 23, 1913, being c. 6, 38 Stat. 251, as amended. (c) “Federal Reserve Bank” means the Federal Reserve Banks created and organized under authority of the Federal Reserve Act. (d) “Member bank” means any national bank, state bank or banking and trust company which has become or which becomes a member of one of the Federal Reserve Banks created by the Federal Reserve Act.

2. Any bank organized under the laws of this state may subscribe to the stock and become a member of a Federal Reserve Bank.

3. Any bank organized under the laws of this state which is, or which becomes, a member of a Federal Reserve Bank is, by this section, vested with all powers conferred upon member banks of the Federal Reserve Banks by the terms of the Federal Reserve Act as fully and completely as if such powers were specifically enumerated and described in this section, and all such powers must be exercised subject to all restrictions and limitations imposed by the Federal Reserve Act, or by regulations of the Board of Governors of the Federal Reserve System made pursuant thereto. The right, however, is expressly reserved to revoke or to amend the powers conferred in this section.

4. A compliance on the part of any such bank with the reserve requirements of the Federal Reserve Act shall be deemed to be a full compliance with those provisions of the laws of this state which require banks to maintain cash balances in their vaults or with other banks, and no such bank need carry or maintain a reserve other than such as is required under the terms of the Federal Reserve Act.

5. Any such bank continues to be subject to the supervision and examinations required by the laws of this state, except that the Board of Governors of the Federal Reserve System may, if it deems necessary, make examinations. The authorities of this state having supervision over such bank may disclose to the Board of Governors of the Federal Reserve System, or to examiners appointed by it, all information in reference to the affairs of any bank which has become, or desires to become, a member of a Federal Reserve Bank.

1 12 U.S.C.A. § 221 et seq.
Nev. Rev. Stat. § 672.690 — NV Code / Title 55 / Chapter 672 / Section 672.690
Assets qualified for reserves
Status: in_force

For the purpose of establishing the reserves required by NRS 672.670 and 672.680 , all assets except the following are considered risk assets:

1. Cash on hand;

2. Deposits or shares in federal or state banks, savings and loan associations, savings banks and credit unions;

3. Assets which are insured by, fully guaranteed as to principal and interest by, or due from the United States Government, its agencies, the Federal National Mortgage Association or the Government National Mortgage Association;

4. Loans to other credit unions;

5. Loans to members of the credit union which are fully secured by the shares of the member applying therefor;

6. Loans to students insured under the provisions of the Higher Education Act of 1965, 20 U.S.C. §§ 1071 et seq., or similar state insurance programs;

7. Loans insured under the National Housing Act, as amended, 12 U.S.C. § 1703 , by the Federal Housing Administration;

8. Shares or deposits in central credit unions organized under the provisions of NRS 672.850 , or of any other state law or the Federal Credit Union Act of 1934, as amended, 12 U.S.C. §§ 1751 et seq. ;

9. Common trust investments which deal in investments authorized by this chapter;

10. Prepaid expenses;

11. Accrued interest on nonrisk investments;

12. Furniture and equipment;

13. Land and buildings; and

14. A deposit for insurance for members' accounts required pursuant to subsection 3 of NRS 672.750 .
Nev. Rev. Stat. § 673.0175 — NV Code / Title 55 / Chapter 673 / Section 673.0175
“Main office” defined
Status: in_force

“ Main office ” means the office of a savings bank identified as such in the application submitted pursuant to subsection 4 of NRS 673.080 or the location to which the main office is changed pursuant to subsection 14 of NRS 673.080 or other applicable law.
Nev. Rev. Stat. § 675.090 — NV Code / Title 55 / Chapter 675 / Section 675.090
Application for license: Form; contents; requirements when applying for license for office or other place of business located outside State; withdrawal of application
Status: in_force

1. Application for a license must be in writing, under oath, and in the form prescribed by the Commissioner.

2. The application must: (a) Provide the address of the office or other place of business for which the application is submitted. (b) Contain such further relevant information as the Commissioner may require, including the names and addresses of the partners, officers, directors or trustees, and of such of the principal owners or members as will provide the basis for the investigations and findings contemplated by NRS 675.110 and 675.120 .

3. A person may apply for a license for an office or other place of business located outside this State from which the applicant will conduct business in this State if: (a) The applicant is an Internet business lender; or (b) The applicant or a subsidiary or affiliate of the applicant has a license issued pursuant to this chapter for an office or other place of business located in this State.

4. A person who wishes to apply for a license pursuant to subsection 3 must submit with the application for a license a statement signed by the applicant which states that the applicant agrees to: (a) Make available at a location within this State the books, accounts, papers, records and files of the office or place of business located outside this State to the Commissioner or a representative of the Commissioner; or (b) Pay the reasonable expenses for travel, meals and lodging of the Commissioner or a representative of the Commissioner incurred during any investigation or examination made at the office or place of business located outside this State. The person must be allowed to choose between paragraph (a) or (b) in complying with the provisions of this subsection.

5. The Commissioner shall consider an application to be withdrawn if the Commissioner has not received all information and fees required to complete the application within 6 months after the date the application is first submitted to the Commissioner or within such later period as the Commissioner determines in accordance with any existing policies of joint regulatory partners. If an application is deemed to be withdrawn pursuant to this subsection or if an applicant otherwise withdraws an application, the Commissioner may not issue a license to the applicant unless the applicant submits a new application and pays any required fees.
Nev. Rev. Stat. § 672.835 — NV Code / Title 55 / Chapter 672 / Section 672.835
Involuntary dissolution: Appointment of liquidating agent for credit union closed by bankruptcy or insolvency
Status: in_force

If a credit union is closed because of bankruptcy or insolvency, the Commissioner may appoint a liquidating agent.
Nev. Rev. Stat. § 657A.170 — NV Code / Title 55 / Chapter 657A / Section 657A.170
“Program” defined
Status: in_force

“ Program ” means the Regulatory Experimentation Program for Product Innovation established and administered by the Director pursuant to this chapter.
Nev. Rev. Stat. § 669A.110 — NV Code / Title 55 / Chapter 669A / Section 669A.110
Family trust company not required to be licensed but may apply for license
Status: in_force

A family trust company:

1. Is not required to be licensed pursuant to this chapter or chapter 669 of NRS .

2. May apply for a license as: (a) A trust company pursuant to chapter 669 of NRS ; or (b) A licensed family trust company pursuant to this chapter.

3. Is subject to the supervision of the Commissioner under this chapter if licensed as a licensed family trust company pursuant to this chapter.
Nev. Rev. Stat. § 672.870 — NV Code / Title 55 / Chapter 672 / Section 672.870
Voting representatives
Status: in_force

1. The board of each credit union that becomes a member of a central credit union shall designate one person to be its voting representative in the central credit union.

2. The voting representative of a member credit union is eligible to hold office in the central credit union.
Nev. Rev. Stat. § 672.310 — NV Code / Title 55 / Chapter 672 / Section 672.310
Procedure for incorporation; fees set by regulation
Status: in_force

1. The Secretary of State shall not issue any certificate of incorporation to any credit union authorizing it to do business in this state until the articles of incorporation are approved by the Commissioner.

2. An amendment to the articles of incorporation may not be filed by the Secretary of State without the written approval of the Commissioner.

3. Not less than seven persons who are residents of Nevada, have a common bond and are of legal age who desire to organize a credit union under this chapter shall first execute in triplicate an application, upon forms to be issued by the Commissioner, for permission to organize an association. The applicants shall submit with or include in their application: (a) A copy of the articles of incorporation which must comply with the provisions of NRS 81.440 except where those provisions conflict with the provisions of this chapter. (b) The par value of the shares, which must be $5 or some multiple thereof. (c) The names and addresses of the applicants and an itemized account of the financial condition of the applicants and the proposed credit union. (d) The name, which must include the words “credit union,” and the principal place of business. (e) Any additional information which the Commissioner may require to determine the character and responsibility of the applicants and the need for a credit union in the community to be served. The incorporators shall submit a set of proposed bylaws to the Commissioner with their application and the bylaws when approved by the Commissioner are effective upon filing the articles of incorporation. The Commissioner shall approve or disapprove the application within 30 days following its receipt.

4. Every application for permission to organize, as provided for in this section, must be accompanied by an application fee and a fee payment to cover expenses attendant upon the investigation required for approval. The amount of the fees must be established by regulation adopted by the Commissioner.

5. The subscribers for a credit union charter shall not transact any business until formal approval of the charter has been received.
Nev. Rev. Stat. § 657.110 — NV Code / Title 55 / Chapter 657 / Section 657.110
Certain mortgagees and beneficiaries of deeds of trust to provide contact information to the Division of Financial Institutions; Division of Financial Institutions to maintain information on its Internet website
Status: in_force

1. Each mortgagee or beneficiary of a deed of trust under a residential mortgage loan, including, without limitation, a bank, credit union, savings bank, savings and loan association, thrift company or other financial institution which is licensed, registered or otherwise authorized to do business in this State, shall provide to the Division of Financial Institutions the name, street address and any other contact information of a person to whom: (a) A borrower or a representative of a borrower must send any document, record or notification necessary to facilitate a mediation conducted pursuant to NRS 40.437 or 107.086 . (b) A unit-owners' association must send any notice required to be given pursuant to NRS 116.3116 to 116.31168 , inclusive.

2. The Division of Financial Institutions shall maintain on its Internet website the information provided to the Division pursuant to subsection 1 and provide a prominent display of, or a link to, the information described in subsection 1, on the home page of its Internet website.

3. As used in this section: (a) “ Borrower ” means a person who is a mortgagor or grantor of a deed of trust under a residential mortgage loan. (b) “ Residential mortgage loan ” means a loan which is primarily for personal, family or household use and which is secured by a mortgage or deed of trust on owner-occupied housing as defined in NRS 107.015 .
Nev. Rev. Stat. § 672.230 — NV Code / Title 55 / Chapter 672 / Section 672.230
“Trust account” defined
Status: in_force

“Trust account” means any account which states that a party is a trustee for one or more identified persons, including but not limited to minors.
Nev. Rev. Stat. § 677.660 — NV Code / Title 55 / Chapter 677 / Section 677.660
Advertising: Prohibitions; insurance of deposits
Status: in_force

1. A person shall not advertise, print, display, publish, distribute or broadcast or cause or permit to be advertised, printed, displayed, published, distributed or broadcast, in any manner, any statement or representation with regard to the rates, terms or conditions for making or negotiating loans, or with regard to deposits, which is false, misleading or deceptive.

2. Except as otherwise provided in this subsection, a licensee shall not use any advertising or make any representations which indicate, imply or might lead a person to believe that it is a bank, a thrift company or a savings bank, unless it is insured by the Federal Deposit Insurance Corporation. The provisions of this subsection do not apply to a thrift company that does not accept money for deposit.

3. A licensee whose deposits are insured by the Federal Deposit Insurance Corporation shall include that information in its advertising relating to deposits.
Nev. Rev. Stat. § 675.220 — NV Code / Title 55 / Chapter 675 / Section 675.220
Change of address by licensee: Notice; approval by Commissioner; penalty for failure to provide required notice
Status: in_force

1. A licensee who wishes to change the address of an office or other place of business for which he or she has a license pursuant to this chapter must, at least 10 days before changing the address, give written notice of the proposed change to the Commissioner.

2. Upon receipt of the proposed change of address pursuant to subsection 1, the Commissioner shall provide written approval of the change and the date of the approval.

3. If a licensee fails to provide notice as required pursuant to subsection 1, the Commissioner may impose a fine in an amount not to exceed $500.
Nev. Rev. Stat. § 669A.170 — NV Code / Title 55 / Chapter 669A / Section 669A.170
Certain organizational structure required for domestic family trust company; authority to do business in this State required for foreign family trust company
Status: in_force

An applicant for a license to conduct business as a licensed family 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. § 667.155 — NV Code / Title 55 / Chapter 667 / Section 667.155
Hearing on objections to appointment of successor trustee; appeal from order
Status: in_force

If, upon the day fixed in the order and notice, objection is made to the appointment of a new trustee, the court shall hear and determine the matter. An appeal may be taken from the decision of the court by any party who made an appearance in the proceeding.
Nev. Rev. Stat. § 670B.390 — NV Code / Title 55 / Chapter 670B / Section 670B.390
Maintenance and availability of records concerning student education loans
Status: in_force

1. Except to the extent inconsistent with federal law or regulation, a student loan servicer shall maintain a record of each transaction relating to a student education loan for not less than 2 years following the final payment on the student education loan or the assignment of the student education loan, whichever occurs first, or such longer period as may be required by any other provision of law.

2. Upon the request of the Commissioner, a person required to maintain records pursuant to subsection 1 shall make such records available to the Commissioner, or send the records to the Commissioner, in the manner required by the Commissioner, not later than 5 business days after requested by the Commissioner. Upon the person's request, the Commissioner may allow additional time to make the records available to the Commissioner or to send the records to the Commissioner.
Nev. Rev. Stat. § 666.305 — NV Code / Title 55 / Chapter 666 / Section 666.305
Approval of Commissioner required before taking certain actions affecting depository institution or holding company whose home state is Nevada; penalty; injunctive relief
Status: in_force

1. Unless the Commissioner gives prior written approval, no person may: (a) Acquire, directly or indirectly, a depository institution or holding company whose home state is Nevada; (b) Vote the stock of a depository institution or holding company acquired in violation of paragraph (a); (c) Acquire, directly or indirectly, the voting or nonvoting securities of a depository institution or a holding company whose home state is Nevada if the acquisition would result in that person's obtaining more than 20 percent of the authorized voting securities of the institution or company if the nonvoting securities were converted into voting securities; or (d) Merge or consolidate with a depository institution or a holding company whose home state is Nevada.

2. Any person who willfully violates any provision of this section or any regulation adopted by the Commissioner pursuant to this section is guilty of a misdemeanor. Each day during which the violation continues constitutes a separate offense.

3. The Commissioner may obtain injunctive relief to prevent any change in control or impending violation of this section.
Nev. Rev. Stat. § 673.048 — NV Code / Title 55 / Chapter 673 / Section 673.048
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. § 676A.250 — NV Code / Title 55 / Chapter 676A / Section 676A.250
“State” defined
Status: in_force

“ State ” means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States.
Nev. Rev. Stat. § 673.820 — NV Code / Title 55 / Chapter 673 / Section 673.820
Violation of chapter or fraudulent misrepresentation of contract or securities by savings bank; administrative fines
Status: in_force

In addition to any other remedy or penalty:

1. Any savings bank which violates any provisions of this chapter or fraudulently misrepresents the terms of any contract or of any securities, and thereby secures a sale therefor, shall be punished by an administrative fine of not more than $10,000 and forfeiture and revocation of all licenses issued to it under the provisions of this chapter.

2. The Commissioner may impose an administrative fine of not more than $10,000 upon a person who: (a) Without a license, conducts any business or activity for which a license is required pursuant to the provisions of this chapter; or (b) Violates any provision of this chapter or any regulation adopted pursuant thereto.
Nev. Rev. Stat. § 669.200 — NV Code / Title 55 / Chapter 669 / Section 669.200
Cancellation of license if retail trust company fails to open for business or maintain regular business hours
Status: in_force

The Commissioner shall issue an order cancelling a retail trust company's license:

1. If the proposed retail trust company fails to open for business within 6 months after the date the license was issued, or within an additional 6-month extension granted by the Commissioner upon written application and for good cause shown; or

2. If the retail trust company fails to maintain regular business hours or otherwise conduct the business of a trust company for more than 30 days.
Nev. Rev. Stat. § 666A.080 — NV Code / Title 55 / Chapter 666A / Section 666A.080
State branch or agency: License required; exemptions from licensing
Status: in_force

1. Except as otherwise provided in subsection 2, a foreign bank shall not transact business in this state except at a state branch or agency for which it has been issued a license pursuant to this chapter.

2. A foreign bank: (a) Which maintains a federal branch or agency in this state may transact business authorized under federal law or regulation in that branch or agency. (b) Which does not maintain a state branch or agency may make loans in this state secured by real property in this state. (c) Organized under the law of a territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands may operate an interstate branch in this state as if it were a state bank.

3. Transaction of business by a subsidiary of a foreign bank does not constitute transaction of business by the parent bank.
Nev. Rev. Stat. § 671.0165 — NV Code / Title 55 / Chapter 671 / Section 671.0165
“Person” defined
Status: in_force

“ Person ” means any natural person, general partnership, limited partnership, limited liability company, corporation, trust, association, joint stock corporation or other corporate entity identified by the Commissioner.
Nev. Rev. Stat. § 671.0155 — NV Code / Title 55 / Chapter 671 / Section 671.0155
“Payment instrument” defined
Status: in_force

1. “ Payment instrument ” means a written or electronic check, draft, money order, traveler's check or other written or electronic instrument for the transmission or payment of money or monetary value, whether or not negotiable.

2. The term does not include stored value or any instrument that is: (a) Redeemable by the issuer only for goods or services provided by the issuer or its affiliate or a franchisee of the issuer or its affiliate, except to the extent required by applicable law to be redeemable in cash for its cash value; or (b) Not sold to the public but issued and distributed as part of a loyalty, rewards or promotional program.
Nev. Rev. Stat. § 673.4845 — NV Code / Title 55 / Chapter 673 / Section 673.4845
Procedure; approval by savings bank and Commissioner; fee; regulations
Status: in_force

1. A savings bank may reorganize, merge or consolidate with another state or federal savings bank, national bank, state bank or other insured depository institution, if the reorganization, merger or consolidation is based upon a plan which has been adopted by the board of directors and approved at a regular or special stockholders' meeting which has been called to consider the action. The approval must rest on a favorable vote of a majority of the voting power of the savings bank as established by its articles.

2. Any such plan for reorganization, merger or consolidation must be approved by the Commissioner, who shall satisfy himself or herself that the plan, if approved, would be equitable for the stockholders of the affected savings bank and other institutions subject to his or her jurisdiction and would not impair the usefulness or success of other properly conducted savings banks in the community. In submitting an application for approval of any such plan, each savings bank proposing to reorganize, merge or consolidate must provide a comprehensive review of its present financial statement and a projected view of the financial statement of the reorganized, merged or consolidated savings bank, bank or other depository institution.

3. Unless its action is specifically authorized by or taken in conformity with this chapter, no savings bank may, directly or indirectly: (a) Reorganize, merge or consolidate. (b) Assume liability to pay deposit accounts or other liabilities of any financial institution or any other organization, person or entity. (c) Transfer assets to any financial institution or any other organization, person or entity in consideration of the transferee's assumption of liability for any portion of the transferor's deposit accounts, deposits or other liability. (d) Acquire the assets of any financial institution or any other organization, person or entity.

4. Each application which is made under this section must be accompanied by a fee payment of not more than $300. The responsibility for payment of the fee must be shared equally by the savings banks participating in each proposed plan.

5. The Commissioner shall adopt regulations establishing the amount of the fee required pursuant to this section.
Nev. Rev. Stat. § 673.5922 — NV Code / Title 55 / Chapter 673 / Section 673.5922
Petition for appointment of successor trustee by district court: Order to appear and show cause why successor trustee should not be appointed; publication and contents of notice
Status: in_force

1. In all cases to which subsection 1 of NRS 673.5921 is applicable, the district court for the county in which such indenture, deed of trust or other instrument of like character is recorded shall, upon the verified petition of any person interested in any such trust, either as trustee, beneficiary or otherwise, which interest must be set out in the petition, issue its order directing service on all interested parties, personally or by the publication in a newspaper published in the county, or in some adjoining county if no newspaper is published in the county where the application is made, of a notice directed to all persons concerned, commanding and requiring all persons having any interest in the trust, to appear in court on a day designated in the order and notice, not less than 30 days after the date of the order and notice, to show cause why a new trustee should not be appointed.

2. Such notice must be published in the manner required by the Nevada Rules of Civil Procedure for service of summons by publication, and shall set forth the names of the parties to the indenture, deed of trust or other such instrument, the date thereof, and the place or places where such instrument is recorded.
Nev. Rev. Stat. § 666A.100 — NV Code / Title 55 / Chapter 666A / Section 666A.100
State branch or agency: Amendment of license
Status: in_force

1. A foreign bank which is licensed to establish and maintain a state branch or agency shall secure an amended license if it changes its corporate name, changes the duration of its corporate existence or desires to pursue in this state other or additional purposes than those set forth in its previous application under this chapter for a license, by making application therefor to the Commissioner.

2. The requirements with respect to the form and contents of an application under subsection 1, the manner of its execution, the filing of duplicate originals thereof with the Commissioner, the issuance of an amended license and the effect thereof are the same as in the case of an initial application for a license to establish and maintain a state branch or agency.
Nev. Rev. Stat. § 673.2755 — NV Code / Title 55 / Chapter 673 / Section 673.2755
Investment certificates: Rights and liabilities of holders; types of certificates; limitation on approval
Status: in_force

1. A savings bank may issue investment certificates, with or without passbooks. The holders of investment certificates are not liable for debts or assessments, and are entitled upon liquidation of a savings bank to receive payment in full before any payment or distribution is made to stockholders. The holders of investment certificates have no right to participate in the profits of the savings bank.

2. Investment certificates may be issued as fully paid investment certificates, accumulative investment certificates, minimum term investment certificates or other types of certificates approved by the Commissioner. The Commissioner shall not approve any certificates whose issuance would impair the insurance of the accounts of the savings bank by the Federal Deposit Insurance Corporation.
Nev. Rev. Stat. § 672.670 — NV Code / Title 55 / Chapter 672 / Section 672.670
Regular reserves
Status: in_force

1. Before the payment of any dividend, the gross earnings of the credit union must be determined. From the gross earnings a regular reserve against losses must be set aside according to the following schedule: (a) Until the regular reserve equals 7.5 percent of the outstanding loans and risk assets, all credit unions with assets of $500,000 or less shall withhold 10 percent of the gross earnings. Thereafter, 5 percent of the gross income must be withheld until the regular reserve reaches 10 percent of the outstanding loans and risk assets. (b) Whenever a credit union has assets of more than $500,000 and has been in operation for at least 4 years, it shall maintain its regular reserve as follows: (1) Until the regular reserve equals 4 percent of the outstanding loans and risk assets, the credit union shall withhold 10 percent of its gross earnings. (2) Thereafter, until the regular reserve equals 6 percent of its outstanding loan and risk assets, the credit union shall withhold 5 percent of its gross earnings. (c) Whenever the regular reserve falls below the required levels, it must be replenished by regular contributions sufficient to maintain the regular reserve at the levels required by paragraphs (a) and (b).

2. The regular reserve belongs to the credit union and must not be distributed except on liquidation of the credit union or in accordance with a plan approved by the Commissioner.
Nev. Rev. Stat. § 677.210 — NV Code / Title 55 / Chapter 677 / Section 677.210
Minimum stockholders' equity required
Status: in_force

The stockholders' equity of any corporation formed to do business under this chapter must not be less than $325,000, plus an additional $25,000 for each of its branch offices.
Nev. Rev. Stat. § 658.195 — NV Code / Title 55 / Chapter 658 / Section 658.195
Right to sue and defend in actions involving banks; liability to suit
Status: in_force

1. The Commissioner may sue and prosecute or defend in any action or proceeding in any court of this State or any other state and in any court of the United States for the enforcement or protection of any right or pursuit of any remedy necessary or proper in connection with the subjects committed to the Commissioner for administration or in connection with any bank or the rights, liabilities, property or assets thereof, under the Commissioner’s supervision.

2. The Commissioner is not liable to be sued except as other departments and agencies of the State may be liable under the general law.
Nev. Rev. Stat. § 660.155 — NV Code / Title 55 / Chapter 660 / Section 660.155
“Customer” defined
Status: in_force

“Customer” means a natural person to whom a device for access has been issued for personal, family or household use.
Nev. Rev. Stat. § 666.355 — NV Code / Title 55 / Chapter 666 / Section 666.355
Authority of Commissioner to authorize or require acquisition of failing depository institution or failing holding company which controls depository institution
Status: in_force

If the Commissioner considers it necessary to protect depositors, creditors and other customers of a failing depository institution or a failing holding company which controls a depository institution, the Commissioner may solicit offers from and authorize or require the acquisition of the institution or company by or its merger with another institution or company.
Nev. Rev. Stat. § 669.083 — NV Code / Title 55 / Chapter 669 / Section 669.083
Retail trust company required to maintain principal office in Nevada
Status: in_force

1. A retail trust company licensed in this State shall maintain its principal office in this State.

2. The conditions for a retail trust company to fulfill the requirements of subsection 1 include, but are not limited to: (a) A verifiable physical office in this State that conducts such business operations in this State as are necessary to administer trusts in this State; (b) The presence of an employee that is a resident of Nevada in the principal office who has experience that is satisfactory to the Commissioner in accepting and administering trusts; (c) Maintenance of originals or true copies of all material business records and accounts of the retail trust company which may be accessed and are readily available for examination by the Division of Financial Institutions; (d) Maintenance of any cash as a portion of the required stockholders' equity pursuant to NRS 669.100 in accounts with one or more banks or other financial institutions located in this State; (e) The provision of services to residents of this State consistent with the business plan provided by the trust company with its license application; and (f) Such other conditions that the Commissioner may reasonably require to protect the public interest.
Nev. Rev. Stat. § 672.290 — NV Code / Title 55 / Chapter 672 / Section 672.290
Credit Union Advisory Council
Status: in_force

1. The Credit Union Advisory Council, consisting of five members appointed by the Governor, is hereby created to consult with, advise and make recommendations to the Commissioner in all matters pertaining to credit unions.

2. The Governor shall appoint members who have tested credit union experience from a list of recommended names submitted by the Nevada Credit Union League.

3. After the initial terms, members serve terms of 4 years, except when appointed to fill unexpired terms.

4. The Chair of the Advisory Council must be elected annually by and from the members thereof.

5. The meetings of the Advisory Council may be held at such times and places as the Chair or Commissioner determines and the Advisory Council may meet at least once every 6 months.
Nev. Rev. Stat. § 673.080 — NV Code / Title 55 / Chapter 673 / Section 673.080
Articles to be approved by Commissioner; application; permission to organize; fees; conditions; regulations; withdrawal of application
Status: in_force

1. The Secretary of State shall not issue any certificate to a savings bank or company authorizing it to do business until the articles of association, agreement or incorporation are approved by the Commissioner.

2. No amendment to the articles of the organization may be filed by the Secretary of State without the written approval of the articles by the Commissioner.

3. No savings bank may sell, offer for sale, negotiate for the sale of, take subscriptions for, or issue any of its common or preferred stock until it has first applied for and secured from the Commissioner approval of an application for permission to organize as provided for in this section.

4. Persons who desire to organize a savings bank in accordance with this chapter shall first execute in triplicate an application, in the form prescribed by the Commissioner, for permission to organize a savings bank before taking any other action in connection with the organization. Upon execution of an application for permission to organize by one or more responsible natural persons, referred to in this section as “applicants,” the original and two copies of the application must be submitted to the Commissioner. The applicants shall submit with their application the names and addresses of the applicants, the location of the proposed main office, an itemized account of the financial condition of the proposed savings bank and of the applicants, the amount and character of the proposed stock, statements, exhibits, maps and such additional information as the Commissioner requires, together with an affidavit that the representations made thereby are consistent with the facts to the best of the applicants' information and belief. This data must be sufficiently detailed and comprehensive to enable the Commissioner to pass upon the application as to: (a) The character and responsibility of the applicants; (b) The need for the savings bank in the community to be served; (c) The reasonable probability of its usefulness and success; and (d) Whether such a savings bank can be established without undue injury to any properly conducted existing savings banks.

5. If the Commissioner approves the application he or she shall, within 30 days, notify all savings banks within 100 miles of the community where the applicant intends to establish a savings bank. 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, and the hearing must be held not earlier than 30 days nor more than 60 days after the date of receipt of written notice by registered or certified mail by the parties. The Commissioner shall approve or deny the application within 90 days after the date of the conclusion of the hearing and give all parties written notice of his or her decision on or before that date.

6. If the Commissioner approves the application, he or she shall establish as conditions to be met before the issuance of a charter requirements as to: (a) The minimum number of shares of common or preferred stock to be subscribed to the permanent capital of the savings bank; (b) The minimum amount of paid-in surplus; (c) The minimum amount of investment certificates to be paid into the deposit accounts of the savings bank upon issuance of a charter to it; and (d) Such other requirements as he or she deems necessary or desirable. At least 75 percent of the capital must be subscribed by bona fide residents of this State or a depository institution or holding company qualified to control the savings bank pursuant to the provisions of this chapter or chapter 666 or 666A of NRS . Approval of an application for permission to organize a savings bank does not in any manner obligate the Commissioner to issue a charter, except that when all requirements of this chapter and of the Commissioner have been fulfilled, he or she shall issue a charter.

7. The charter expires 180 days after issuance, unless, within that time, the savings bank has obtained insurance of accounts from the Federal Deposit Insurance Corporation. The Commissioner may, for good cause, extend the time of the conditional expiration of the charter for an additional period or periods not exceeding 360 days in the aggregate.

8. A savings bank shall not sell or issue any of its permanent stock until it has first applied for and secured from the Commissioner a license authorizing it to operate as a savings bank pursuant to the laws of this State and until it has applied for and secured insurance of accounts in accordance with the regulations of the Federal Deposit Insurance Corporation. This insurance of accounts must be maintained at all times.

9. The Commissioner may extend the time for any hearing provided for in this section, to the time agreed upon by the parties.

10. The filing fees are: (a) For filing an original application, not more than $4,000 for the main 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 paragraph 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 $2,000 for the main office before issuance.

11. The Commissioner may impose conditions requiring the impoundment of proceeds from the sale of any stock, limiting the expense in connection with the sale of stock, and such other conditions as are reasonable and necessary or advisable to insure the disposition of the proceeds from the sale of the stock in the manner and for the purposes provided in the permission to organize.

12. Every permission to organize issued by the Commissioner must recite in bold type that its issuance is permissive only and does not constitute a recommendation or endorsement of the organization or of the stock permitted to be issued.

13. Any corporation applying pursuant to this section or authorized to organize or authorized to establish a savings bank shall provide for a minimum par value of its permanent capital stock of at least $1 in its articles of incorporation. Par value of permanent capital stock may not be reduced below $1 without written permission of the Commissioner.

14. The removal of the main office or of any branch office of a savings bank to any other location from its then existing location requires submission of written notice at least 30 days before relocation to the Commissioner and, if the Commissioner determines that his or her approval is necessary, approval of the Commissioner. An application seeking approval, if required by the Commissioner, must be delivered to the Commissioner, together with a fee to cover expenses attendant upon the investigation required for the approval, which must be not less than $200. 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 .

15. A savings bank shall not pay any commissions or other compensation for the subscription to or sale of the original issue of its stock.

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

17. The Commissioner shall consider an application to be withdrawn if the Commissioner has not received all information and fees required to complete the application within 12 months after the date the application is first submitted to the Commissioner or within such later period as the Commissioner determines in accordance with any existing policies of joint regulatory partners. If an application is deemed to be withdrawn pursuant to this subsection or if the applicant otherwise withdraws the application, the Commissioner may not issue a license to the applicant unless the applicant submits a new application and pays any required fees.
Nev. Rev. Stat. § 677.665 — NV Code / Title 55 / Chapter 677 / Section 677.665
Formation of bank
Status: in_force

A corporation authorized to engage in business pursuant to this chapter may form a bank pursuant to the provisions of subsection 2 of NRS 659.015 .
Nev. Rev. Stat. § 666.405 — NV Code / Title 55 / Chapter 666 / Section 666.405
Acquisition of Nevada depository institution for conversion to branch of out-of-state depository institution or out-of-state holding company; restrictions; exceptions
Status: in_force

1. Except as otherwise provided in this section, an out-of-state depository institution without a branch in Nevada, or an out-of-state holding company without a depository institution in Nevada, may acquire a Nevada depository institution and convert the institution to a branch of the out-of-state depository institution or depository institution of the out-of-state holding company. If the Nevada depository institution is chartered after September 28, 1995, the Nevada depository institution may be so acquired only if it has been in existence for at least 5 years.

2. For the purposes of subsection 1: (a) A depository institution chartered solely for the purpose of acquiring another depository institution shall be deemed to have been in existence for the same period as the depository institution to be acquired, as long as the acquiring depository institution does not open for business at any time before the acquisition. (b) A bank that was originally chartered as a corporation or limited-liability company other than a depository institution shall be deemed to have been in existence for the period since a certificate of amendment of its articles of incorporation or organization was filed pursuant to NRS 659.035 to reorganize the corporation or limited-liability company as a bank. (c) A bank that was originally chartered as a Nevada depository institution other than a bank shall be deemed to have been in existence for the period since the original articles of incorporation or organization of the depository institution were filed with the Secretary of State. (d) If a Nevada depository institution becomes the successor in interest to the business of an out-of-state depository institution without a branch bank in this state that previously acquired a Nevada depository institution or to an out-of-state holding company without a branch bank in this state that previously acquired a Nevada depository institution, the Commissioner shall include the period of existence of the original Nevada depository institution when determining the period of existence of the successor Nevada depository institution.

3. If the Commissioner considers it necessary to protect depositors, creditors and other customers of a failing depository institution or a failing holding company which controls a depository institution, the Commissioner may authorize the acquisition of the institution or company by, or its merger with, another institution or company regardless of the duration of existence of the failing depository institution or failing holding company.

4. The restriction set forth in subsection 1 does not apply to an acquisition of, or merger between, affiliated depository institutions.
Nev. Rev. Stat. § 677.200 — NV Code / Title 55 / Chapter 677 / Section 677.200
Qualifications of president and certain managers of corporation
Status: in_force

The president of the corporation must have not less than 10 years of experience in a regulated financial institution in this state, or in any other state or the District of Columbia. The manager of the principal office and any branch office must have not less than 2 years of experience in a regulated financial institution in this state, or in any other state or the District of Columbia.
Nev. Rev. Stat. § 660.015 — NV Code / Title 55 / Chapter 660 / Section 660.015
Location; establishment; discontinuance; review of Commissioner's action
Status: in_force

1. Banks organized under chapters 657 to 671, inclusive, of NRS may maintain branch offices but the location of the principal office and the parent bank must be within this State.

2. Additional branch offices may be from time to time established by the board of directors with the written consent of the Commissioner.

3. A bank may discontinue a branch office upon resolution of its board of directors. Upon the adoption of the resolution, the bank shall file a certification with the Commissioner specifying the location of the branch office to be discontinued and the date upon which it is proposed that the discontinuance is to be effective. This certificate must state the reasons for the closing of the branch office and indicate that the needs and conveniences of the community would still be adequately met. Notice stating the intention to discontinue the branch office must be published in a newspaper serving the community once a week for 4 consecutive weeks before any certificate requesting discontinuance is filed with the Commissioner. No branch office may be discontinued until approved by the Commissioner, who shall first hold a public hearing thereon, if so requested by any interested person.

4. Any action taken by the Commissioner pursuant to this section is subject to review in the same manner as provided in NRS 659.055 .
Nev. Rev. Stat. § 673.250 — NV Code / Title 55 / Chapter 673 / Section 673.250
Licenses for issuance or sale of stock; contents and conditions of licenses
Status: in_force

1. No savings bank may sell or issue any of its common or preferred stock until it has first applied for and secured from the Commissioner a license authorizing it so to do as provided in NRS 673.080 .

2. Every license must recite in bold type that the issuance of the license is permissive only and does not constitute a recommendation or endorsement of the stock permitted to be issued.

3. Before the sale of, or option to buy, any additional authorized but unissued common or preferred stock, the savings bank must have the written approval of the Commissioner.

4. The Commissioner may impose conditions requiring the impoundment of the proceeds from the sale of any stock, limiting the expense in connection with the sale and such other conditions as are reasonable and necessary or advisable to ensure the disposition of the proceeds from the sale of the stock in the manner and for the purposes provided in the license.
Nev. Rev. Stat. § 667.185 — NV Code / Title 55 / Chapter 667 / Section 667.185
Provisions additional to other remedies
Status: in_force

NRS 667.115 to 667.175 , inclusive, are in addition to and not in substitution for any other remedy provided by law.
Nev. Rev. Stat. § 673.630 — NV Code / Title 55 / Chapter 673 / Section 673.630
Filing of charter or certificate with Commissioner; fee; taxation; regulations
Status: in_force

1. After the holding of the meeting of stockholders, the savings bank shall take such action, in the manner prescribed or authorized by the laws of the United States or the rules and regulations promulgated pursuant thereto, as shall make it a federal savings bank, national bank or state bank, and there shall thereupon be filed in the Office of the Commissioner a copy of the charter of authorization issued to the institution by the appropriate supervising regulatory body or a certificate showing the organization of the institution as a federal savings bank, national bank or state bank, as applicable, certified by the appropriate supervising regulatory body. Upon filing with the Commissioner, the institution ceases to be a savings bank, but retains all rights, privileges and exemptions of a domestic institution of the same kind and character of its resulting charter.

2. A fee of not more than $100 must accompany the copy of the charter of authorization.

3. Federal savings banks so converted and their members are subject to the same form of taxation and on the same basis as savings banks and their stockholders, and national banks so converted and their members are subject to the same form of taxation and on the same basis as state banks and their stockholders.

4. The Commissioner shall adopt regulations establishing the amount of the fee required pursuant to this section.
Nev. Rev. Stat. § 673.5921 — NV Code / Title 55 / Chapter 673 / Section 673.5921
Termination of trusteeship under security instruments upon insolvency; appointment of successor trustee by petition to district court or pursuant to security instrument
Status: in_force

1. Except as otherwise provided in subsection 2, if any savings bank that has been or is appointed trustee in any indenture, deed of trust or other instrument of like character, executed to secure the payment of any bonds, notes or other evidences of indebtedness, is taken over for liquidation by the Commissioner, by the Federal Deposit Insurance Corporation or by any other legally constituted authority, the powers and duties of the savings bank as trustee cease upon the entry of an order of the district court appointing a successor trustee pursuant to a petition as provided for in NRS 673.5922 to 673.5927 , inclusive.

2. If an indenture, deed of trust or other instrument of like character that appoints a savings bank as trustee pursuant to subsection 1 includes a provision which provides for the appointment of a successor trustee if the savings bank is taken over for liquidation, the powers and duties of the savings bank as trustee cease upon being taken over by the Commissioner, the Federal Deposit Insurance Corporation or any other legally constituted authority and the successor trustee named, or whose selection is provided for, in the instrument immediately assumes the duties as trustee without appointment by the district court pursuant to NRS 673.5922 to 673.5927 , inclusive.
Nev. Rev. Stat. § 659.055 — NV Code / Title 55 / Chapter 659 / Section 659.055
Appeal from refusal to make certification
Status: in_force

Any person aggrieved by any decision of the Commissioner made under NRS 659.045 may appeal to the State Board of Finance if a review of the decision is desired. The appeal must be made within 15 days after the Commissioner makes the decision. If an appeal is taken, the State Board of Finance shall conduct a full hearing.
Nev. Rev. Stat. § 675.245 — NV Code / Title 55 / Chapter 675 / Section 675.245
Use or change of business name; prohibitions
Status: in_force

1. A licensee must obtain the approval of the Commissioner before using or changing a business name.

2. A licensee shall not: (a) Use any business name which is identical or similar to a business name used by another licensee under this chapter or which may mislead or confuse the public. (b) Use any printed forms which may mislead or confuse the public.
Nev. Rev. Stat. § 666A.040 — NV Code / Title 55 / Chapter 666A / Section 666A.040
“Federal” defined
Status: in_force

“Federal” when used to modify the word “agency” or “branch” or the term “representative office” means licensed by the Comptroller of the Currency.
Nev. Rev. Stat. § 673.218 — NV Code / Title 55 / Chapter 673 / Section 673.218
Pensions and retirement plans for officers and employees
Status: in_force

A savings bank may provide for pensions, retirement plans and other benefits for its officers and employees, and may contribute to the cost thereof in accordance with the plan adopted by its board of directors.
Nev. Rev. Stat. § 671.005 — NV Code / Title 55 / Chapter 671 / Section 671.005
“Average daily money transmission liability” defined
Status: in_force

“ Average daily money transmission liability ” means the amount of the outstanding money transmission obligations of the licensee in this State at the end of each day in a calendar quarter, added together and divided by the number of days in the calendar quarter.
Nev. Rev. Stat. § 671.018 — NV Code / Title 55 / Chapter 671 / Section 671.018
“Stored value” defined
Status: in_force

1. “ Stored value ” means monetary value representing a claim against the issuer evidenced by an electronic or digital record, and that is intended and accepted for use as a means of redemption for money or monetary value or payment for goods or services.

2. The term includes, without limitation, prepaid access, as defined in 31 C.F.R. § 1010.100 , as amended.

3. The term does not include a payment instrument, closed loop stored value or monetary value described in subsection 1 that is not sold to the public but issued and distributed as part of a loyalty, rewards or promotional program.
Nev. Rev. Stat. § 662.105 — NV Code / Title 55 / Chapter 662 / Section 662.105
Stock options and purchases for directors, officers and employees
Status: in_force

Subject to any applicable regulations of the Commissioner, a banking corporation may grant options to purchase, sell or enter into agreements to sell shares of its capital stock to its directors, officers or employees, or any of them, for a consideration of not less than 100 percent of the fair market value of the shares on the date the option is granted, or, if pursuant to a stock purchase plan, 85 percent of the fair market value of the shares on the date the purchase price is fixed, pursuant to the terms of a plan for the purchase of stock by officers and employees which has been adopted by the board of directors of the bank and approved by a majority of the holders of the particular class or classes of stock that are included in the plan and by the Commissioner. In no event may the option to purchase such shares be for a consideration less than the par value thereof.
Nev. Rev. Stat. § 673.620 — NV Code / Title 55 / Chapter 673 / Section 673.620
Majority approval of resolution at stockholders' meeting required; filing of minutes with Commissioner
Status: in_force

1. At a meeting of the stockholders held as provided in NRS 673.610 , the stockholders may, by the affirmative vote of the majority of the stockholders present, in person or by proxy, declare by resolution the determination to convert the savings bank into a federal savings bank, national bank or state bank.

2. A copy of the minutes of the meeting, verified by the affidavit of the president or vice president and the secretary of the meeting, must be filed in the Office of the Commissioner within 10 days after the date of the meeting. The sworn copy of the proceedings of the meeting, when so filed, is presumptive evidence of the holding and the action of the meeting.
Nev. Rev. Stat. § 669A.035 — NV Code / Title 55 / Chapter 669A / Section 669A.035
“Beneficiary” defined
Status: in_force

“ Beneficiary ” has the meaning ascribed to it in NRS 132.050 .
Nev. Rev. Stat. § 658.151 — NV Code / Title 55 / Chapter 658 / Section 658.151
Power of Commissioner to take possession of business and property of depository institution; grounds
Status: in_force

1. The Commissioner may forthwith take possession of the business and property of any depository institution to which this title applies when it appears that the depository institution: (a) Has violated its charter or any laws applicable thereto. (b) Is conducting its business in an unauthorized or unsafe manner. (c) Is in an unsafe or unsound condition to transact its business. (d) Has an impairment of its stockholders' or members' equity. (e) Has refused to pay its depositors in accordance with the terms on which such deposits were received, or has refused to pay its holders of certificates of indebtedness or investment in accordance with the terms upon which those certificates of indebtedness or investment were sold. (f) Has become or is in imminent danger of becoming otherwise insolvent. (g) Has neglected or refused to comply with the terms of a lawful order of the Commissioner. (h) Has refused, upon proper demand, to submit its records, affairs and concerns for inspection and examination of an appointed or authorized examiner of the Commissioner. (i) Has made a voluntary assignment of its assets to trustees. (j) Has failed to pay a tax as required pursuant to the provisions of chapter 363A or 363C of NRS .

2. The Commissioner also may forthwith take possession of the business and property of any depository institution to which this title applies when it appears that the officers of the depository institution have refused to be examined upon oath regarding its affairs.
Nev. Rev. Stat. § 670B.100 — NV Code / Title 55 / Chapter 670B / Section 670B.100
“Student education loan” defined
Status: in_force

“ Student education loan ” means any loan primarily for personal use to finance education or other school-related expenses. The term includes a private education loan.
Nev. Rev. Stat. § 670B.130 — NV Code / Title 55 / Chapter 670B / Section 670B.130
“Student loan servicing” or “servicing” defined
Status: in_force

“ Student loan servicing ” or “ servicing ” means:

1. Receiving any scheduled periodic payments from a student loan borrower pursuant to the terms of a student education loan or any notification that a student loan borrower made such a scheduled periodic payment and applying the payments to the account of a student loan borrower, as may be required pursuant to the terms of a student education loan or a contract governing the servicing of a student education loan;

2. During a period in which no payment is required on a student education loan, maintaining account records for a student education loan and communicating with the student loan borrower on behalf of the owner of the promissory note for the student education loan; or

3. Interacting with a student loan borrower concerning a student education loan, including activities to prevent default on the student education loan, to facilitate the activities described in subsection 1 or 2.
Nev. Rev. Stat. § 672.342 — NV Code / Title 55 / Chapter 672 / Section 672.342
Certificate of authority required
Status: in_force

No credit union organized under the laws of another state may commence or transact any business or maintain an office in this state without first obtaining a certificate of authority from the Commissioner.
Nev. Rev. Stat. § 667.085 — NV Code / Title 55 / Chapter 667 / Section 667.085
Commissioner to furnish copies of examinations and reports to Federal Deposit Insurance Corporation
Status: in_force

1. The Commissioner shall furnish to the Federal Deposit Insurance Corporation, or to any official or examiner thereof, a copy of all examinations made of any state bank and of all reports made by the bank. The Commissioner shall give access to and disclose to the Federal Deposit Insurance Corporation, or to any official or examiner thereof, all information possessed by the office of the Division of Financial Institutions with reference to the conditions or affairs of any state bank.

2. Nothing in this section limits: (a) The duty of any bank in this state from complying with the provisions of the Federal Deposit Insurance Act, 1 its amendments or substitutions, or the requirements of the Federal Deposit Insurance Corporation relative to examinations and reports; or (b) The powers of the Commissioner with reference to examinations and reports pursuant to the provisions of chapters 657 to 671, inclusive, of NRS.

1 12 U.S.C.A. § 1811 et seq.
Nev. Rev. Stat. § 677.550 — NV Code / Title 55 / Chapter 677 / Section 677.550
Order suspending or limiting payment of liabilities; effect of order; assignment or hypothecation of indebtedness
Status: in_force

1. The Commissioner may order a licensee to suspend the payment of its liabilities or limit the payment of its liabilities in such manner as he or she prescribes, if it appears to the Commissioner that this action is necessary for the protection of the licensee, its depositors or creditors, or in the public interest. The order is effective upon receipt of notice by the licensee and continues in effect until rescinded or modified by the Commissioner in a writing delivered to the manager or executive officer of the licensee.

2. Subsection 1 does not affect the right of any licensee to pay its current operating expenses and liabilities incurred during the period of suspension or limitation.

3. After an order suspending or limiting the payment of liabilities is effective and until that order is rescinded, the licensee shall make no assignment or hypothecation of any indebtedness due to it from a depositor without first crediting thereon the liability of the licensee to the depositor.

4. The authority granted to the Commissioner by this section may be exercised by him or her in conjunction with all other powers granted by this chapter, or independently from them.
Nev. Rev. Stat. § 670B.330 — NV Code / Title 55 / Chapter 670B / Section 670B.330
Abandonment of application for license
Status: in_force

The Commissioner may deem an application for a license abandoned if the applicant fails to respond to any request for information required pursuant to this chapter or any regulations adopted pursuant thereto. The Commissioner shall notify the applicant, in writing, that if the applicant fails to submit such information not later than 60 days after the date on which such a request for information was made, the application shall be deemed abandoned. Any fees paid before the date an application is deemed abandoned pursuant to this section must not be refunded. Abandonment of an application pursuant to this section does not preclude the applicant from submitting a new application for a license pursuant to this chapter.
Nev. Rev. Stat. § 677.241 — NV Code / Title 55 / Chapter 677 / Section 677.241
Power of licensee to obtain benefits of federal programs or enter into contract with private insurer; regulations
Status: in_force

1. Subject to the prior approval of the Commissioner, a licensee may, by a majority vote of its board of directors: (a) Enter into a contract, incur an obligation and perform other acts necessary to obtain a membership or other benefit that is available to a thrift company or its customers, stockholders, conservators, receivers or liquidators pursuant to the provisions of: (1) The Federal Deposit Insurance Act, 12 U.S.C. §§ 1811 et seq. ; (2) The National Housing Act, 12 U.S.C. §§ 1701 to 1743 , inclusive; or (3) A contract for the insurance of deposits that is issued by a private insurer and approved by the Commissioner and the Commissioner of Insurance. (b) Subscribe for and acquire any stock, debentures, bonds or other types of securities of the Federal Deposit Insurance Corporation.

2. The Commissioner shall adopt regulations prescribing the requirements that must be complied with before a contract issued pursuant to subparagraph (3) of paragraph (a) of subsection 1 will be approved by the Commissioner.
Nev. Rev. Stat. § 676A.550 — NV Code / Title 55 / Chapter 676A / Section 676A.550
Cancellation of agreement
Status: in_force

1. An individual may cancel an agreement before midnight of the third business day after the individual assents to it, unless the agreement does not comply with subsection 2 or NRS 676A.540 or 676A.700 , in which event the individual may cancel the agreement within 30 days after the individual assents to it. To exercise the right to cancel, the individual must give notice in a record to the provider. Notice by mail is given when mailed.

2. An agreement must be accompanied by a form that contains in boldface type, surrounded by bold black lines: NOTICE OF RIGHT TO CANCEL You may cancel this agreement, without any penalty or obligation, at any time before midnight of the third business day that begins the day after you agree to it by electronic communication or by signing it. To cancel this agreement during this period, send an e-mail to ____________________ (e-mail address of provider) or mail or deliver a signed, dated copy of this notice, or any other written notice to ____________________ (name of provider) at ____________________ (address of provider) before midnight on ____________________ (date) . If you cancel this agreement within the 3-day period, we will refund all money you already have paid us. You also may terminate this agreement at any later time, but we may not be required to refund fees you have paid us. I cancel this agreement, ________________________________________ Print your name ________________________________________ Signature ________________________________________ Date

3. If a personal financial emergency necessitates the disbursement of an individual's money to one or more of the individual's creditors before the expiration of 3 days after an agreement is signed, an individual may waive the right to cancel. To waive the right, the individual must send or deliver a signed, dated statement in the individual's own words describing the circumstances that necessitate a waiver. The waiver must explicitly waive the right to cancel. A waiver by means of a standard form record is void.
Nev. Rev. Stat. § 673.016 — NV Code / Title 55 / Chapter 673 / Section 673.016
“Insured depository institution” defined
Status: in_force

“ Insured depository institution ” means a depository institution the deposit accounts of which are insured wholly or in part by the Federal Deposit Insurance Corporation.
Nev. Rev. Stat. § 672.145 — NV Code / Title 55 / Chapter 672 / Section 672.145
“Member” defined
Status: in_force

“Member” means a person who has an account with a credit union and meets the qualifications for membership specified in the articles of incorporation and bylaws of the credit union.
Nev. Rev. Stat. § 661.125 — NV Code / Title 55 / Chapter 661 / Section 661.125
Report of changes in ownership or management; report of certain loans made by bank; application required after certain acquisitions; investigation by Commissioner; payment of costs; waiver of investigation
Status: in_force

1. 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 the bank, or a change in the ownership of as much as 25 percent of the outstanding voting stock of, or participating members' interests in, any bank.

2. If there is a change in ownership of 10 percent or more of the outstanding voting stock of or members' interests in any bank, the president or other chief executive officer of the bank shall report the facts to the Commissioner within 3 business days after obtaining knowledge of the change.

3. If a loan or loans are made by a bank, and the loan or loans are, or are to be, secured by 10 percent or more of the voting stock of or members' interests in a Nevada bank, the president or other chief executive officer of the bank which makes the loan or loans shall report that fact to the Commissioner within 24 hours after obtaining knowledge of the loan or loans, except when the borrower has been the owner of record of the stock for 1 year or more or the stock is of a newly organized bank before its opening.

4. The reports required in subsections 2 and 3 are in addition to any reports required by any other law and must contain whatever information is available to inform the Commissioner of the effect of the transaction upon control of the bank whose stock or members' interests are involved, and must contain, when known by the person making the report: (a) The number of shares or members' interests involved; (b) The identity of the sellers or transferors and purchasers or transferees of record; (c) The identity of the beneficial owners of the shares or members' interests involved; (d) The purchase price; (e) The total number of shares or members' interests owned by the sellers or transferors and purchasers or transferees of record, both immediately before and after the transaction being reported; (f) The total number of shares or members' interests owned by the beneficial owners of the shares or members' interests involved, both immediately before and after the transaction being reported; (g) The identity of borrowers; (h) The name of the bank issuing the stock securing, or whose members' interests secure, the loan; and (i) The number of shares or members' interests securing the loan and the amount of the loan or loans.

5. Each bank shall, within 24 hours after there is a change in the chief executive officer or directors of the bank, report the change to the Commissioner. The bank shall include in its report a statement of the past and current business and professional affiliations of new chief executive officers or directors. A new chief executive officer shall furnish to the Commissioner a complete financial statement if required to do so by the Commissioner.

6. An application must be submitted to the Commissioner by the person who acquires stock or members' interests resulting in a change of control of the bank. The application must be submitted on a form prescribed by the Division of Financial Institutions. Except as otherwise provided in subsection 8, the Commissioner shall conduct an investigation to determine whether the character, general fitness and responsibility of the applicant is such as to command the confidence of the community in which the bank is located.

7. The bank with which the applicant is affiliated shall pay such a portion of the cost of the investigation as the Commissioner requires. All money received by the Commissioner pursuant to this subsection must be placed in the Investigative Account created by NRS 232.545 . If the Commissioner denies the application, the Commissioner may forbid the applicant from participating in the business of the bank.

8. A bank may submit a written request to the Commissioner to waive an investigation pursuant to subsection 6. The Commissioner may grant a waiver if the applicant has undergone a similar investigation by a state or federal agency in connection with the licensing of, or his or her employment with, a financial institution.

9. As used in this section, “chief executive officer” includes a manager of a limited-liability company.
Nev. Rev. Stat. § 672.550 — NV Code / Title 55 / Chapter 672 / Section 672.550
Meetings of members
Status: in_force

1. The annual meeting and any special meetings of the members of the credit union shall be held at the time and place and in the manner indicated in the bylaws.

2. A member may not vote by proxy, but a society, association, copartnership or corporation having membership in the credit union may be represented and vote by one of its members or shareholders if such person has been fully authorized by the governing body of the society, association, copartnership or corporation to represent it.

3. At all meetings a member has but one vote irrespective of his or her share holdings.
Nev. Rev. Stat. § 673.039 — NV Code / Title 55 / Chapter 673 / Section 673.039
Records of Commissioner
Status: in_force

The Commissioner shall:

1. Keep in his or her office: (a) For no less than 5 years, every report made by a savings bank. (b) The original application of every savings bank in a permanent file. (c) Other administrative documents in the manner provided by law or by appropriate regulations.

2. Provide a complete stenographic record of every hearing and proceeding conducted by his or her office and maintain, for no less than 5 years, a transcript of the hearing or proceeding, together with any regulation, order, decision, determination or consent entered in connection with the hearing or proceeding.
Nev. Rev. Stat. § 676A.570 — NV Code / Title 55 / Chapter 676A / Section 676A.570
Money paid to provider to be held in trust; requirements concerning trust accounts and money held in trust; accounting; prompt refund on termination of agreement
Status: in_force

1. All money paid to a provider by or on behalf of an individual for distribution to creditors pursuant to a plan is held in trust. Within 2 business days after receipt, the provider shall deposit the money in a trust account established for the benefit of individuals to whom the provider is furnishing debt-management services.

2. Money held in trust by a provider is not property of the provider or its designee. The money is not available to creditors of the provider or its designee, except an individual from whom or on whose behalf the provider received money, to the extent that the money has not been disbursed to creditors of the individual.

3. A provider shall: (a) Maintain separate records of account for each individual to whom the provider is furnishing debt-management services; (b) Disburse money paid by or on behalf of the individual to creditors of the individual as disclosed in the agreement, except that the provider may delay payment to the extent that a payment by the individual is not final; and (c) Promptly correct any payments which are not made or which are misdirected as a result of an error by the provider or other person in control of the trust account and reimburse the individual for any costs or fees imposed by a creditor as a result of the failure to pay or misdirection.

4. A provider may not commingle money in a trust account established for the benefit of individuals to whom the provider is furnishing debt-management services with money of other persons.

5. A trust account must at all times have a cash balance equal to the sum of the balances of each individual's account.

6. If a provider has established a trust account pursuant to subsection 1, the provider shall reconcile the trust account at least once a month. The reconciliation must compare the cash balance in the trust account with the sum of the balances in each individual's account. If the provider or its designee has more than one trust account, each trust account must be individually reconciled.

7. If a provider discovers, or has a reasonable suspicion of, embezzlement or other unlawful appropriation of money held in trust, the provider immediately shall notify the Commissioner by a method approved by the Commissioner. Unless the Commissioner, by regulation, provides otherwise, within 5 days thereafter, the provider shall give notice to the Commissioner describing the remedial action taken or to be taken.

8. If an individual terminates an agreement or it becomes reasonably apparent to a provider that a plan has failed, the provider shall promptly refund to the individual all money paid by or on behalf of the individual which has not been paid to creditors, less fees that are payable to the provider under NRS 676A.580 .

9. Before relocating a trust account from one bank to another, a provider shall inform the Commissioner of the name, business address and telephone number of the new bank. As soon as practicable, the provider shall inform the Commissioner of the account number of the trust account at the new bank.
Nev. Rev. Stat. § 671.265 — NV Code / Title 55 / Chapter 671 / Section 671.265
Receipt required for all money or credits received for transmission; exceptions; requirements for receipt
Status: in_force

1. Except as otherwise provided in this section, a licensee or authorized delegate shall provide to a sender a receipt for all money or credit received for transmission. For a transaction conducted in person, the receipt may be provided electronically if the sender requests or agrees to receive an electronic receipt. For a transaction conducted electronically or by telephone, a receipt may be provided electronically. If a licensee provides an electronic receipt, the electronic receipt must be provided in a retainable form.

2. A receipt required by this section must: (a) Be in English and, if different, the language principally used by the licensee or authorized delegate to advertise, solicit or negotiate, either orally or in writing, for a transaction conducted in person, electronically or by telephone; and (b) Contain the following information, as applicable: (1) The name of the sender; (2) The name of the designated recipient; (3) The date of the transaction; (4) The unique transaction or identification number; (5) The name, unique identifier, business address and customer service telephone number of the licensee; (6) The amount of the transaction in United States dollars; (7) Any fee charged by the licensee to the sender for the transaction; and (8) Any taxes collected by the licensee from the sender for the transaction.

3. Each licensee and authorized delegate shall include on a receipt required by this section or on the Internet website or mobile application of the licensee or authorized delegate: (a) The name and telephone number of the Division of Financial Institutions; and (b) A statement that the customers of the licensee may contact the Division of Financial Institutions with questions or complaints regarding the money transmission services of the licensee.

4. The provisions of this section do not apply to: (a) Money or credit received for transmission which is subject to the provisions of 12 C.F.R. Part 1005, Subpart B , as amended; (b) Money or credit received for transmission that is not primarily for personal, family or household purposes; (c) Money or credit received for transmission pursuant to a written agreement between the licensee and payee to process payments for goods or service provided to the payee; or (d) Payroll processing services.

5. As used in this section: (a) “ Receipt ” means a paper receipt, electronic record or other written confirmation. (b) “ Unique identifier ” has the meaning ascribed to it in NRS 671.099 .
Nev. Rev. Stat. § 673.2758 — NV Code / Title 55 / Chapter 673 / Section 673.2758
Requirements
Status: in_force

A reserve for losses shall be maintained by each savings bank, which shall allow for the write-down of assets to their fair market value in accordance with generally accepted accounting principles to the same extent that such principles are used to determine compliance with federal regulations applicable to federal savings banks.
Nev. Rev. Stat. § 657.039 — NV Code / Title 55 / Chapter 657 / Section 657.039
“Derivative transaction” defined
Status: in_force

“Derivative transaction” has the meaning ascribed to it in 12 U.S.C. § 84(b)(3) .
Nev. Rev. Stat. § 669.070 — NV Code / Title 55 / Chapter 669 / Section 669.070
“Trust company” defined
Status: in_force

“Trust company” means a corporation or limited-liability company licensed as provided in this chapter and engaged in a trust company business.
Nev. Rev. Stat. § 677.430 — NV Code / Title 55 / Chapter 677 / Section 677.430
Commissioner to examine licensee's business at least annually; fee
Status: in_force

1. At least once each year, the Commissioner or his or her authorized representatives shall make an examination of the place of business of each licensee and of the loans, transactions, books, papers and records of such licensee so far as they pertain to the business licensed under this chapter.

2. For each examination the Commissioner shall charge and collect from the licensee a fee for conducting the examination and preparing and typing the report of the examination at the rate established and, if applicable, adjusted pursuant to NRS 658.101 .
Nev. Rev. Stat. § 677.330 — NV Code / Title 55 / Chapter 677 / Section 677.330
Mobile offices
Status: in_force

1. The Commissioner may authorize a licensee to operate a mobile office.

2. A mobile office must serve its designated area at least once each 30 days. Each mobile office must be licensed as a branch office.

3. Each application for authority to operate a mobile office must specify the permanent office of the licensee, either its main office or one of its branches, at which the records of the mobile office will be kept.
Nev. Rev. Stat. § 671.092 — NV Code / Title 55 / Chapter 671 / Section 671.092
Authority of Commissioner to take certain action to establish consistent licensing between states; authority of Commissioner to participate in Nationwide Multistate Licensing System and Registry; use of Registry for implementation of requirements of chapter; charges for use of Registry; regulations; provisions do not replace or affect authority of Commissioner regarding licensing
Status: in_force

1. To establish consistent licensing between this State and other states, the Commissioner may: (a) Implement the provisions of this chapter in a manner that is consistent with other states that have adopted laws that are substantively similar to the provisions of this chapter or multistate licensing processes; and (b) Participate in nationwide protocols for licensing cooperation and coordination among state regulators if the protocols are consistent with the provisions of this chapter.

2. The Commissioner may, in furtherance of his or her duties with respect to the issuance and renewal of licenses pursuant to this chapter, participate in the Nationwide Multistate Licensing System and Registry. The Commissioner may take any action with respect to participation in the Registry that the Commissioner deems necessary to carry out his or her duties, including, without limitation: (a) Facilitating and participating in the establishment and implementation of the Registry; (b) Establishing relationships or contracts with the Registry or other entities designated by the Registry; (c) Authorizing the Registry to collect and maintain records of applicants for licenses and licensees; (d) Taking any action the Commissioner deems necessary to coordinate multistate licensing processes and supervision processes through the Registry; (e) Authorizing the Registry to, on behalf of the Commissioner, collect and process any fees associated with licensure, examinations, fines, assessments and any other similar fees; (f) Taking any action the Commissioner deems necessary to facilitate communication between this State and licensees or other persons subject to the provisions of this chapter; (g) Requiring an applicant for a license or a licensee to use the Registry to: (1) Apply for the issuance or renewal of a license; (2) Amend or surrender a license; (3) Submit any reports or the results of any examination that the Commissioner may require; (4) Pay any applicable fees; and (5) Engage in any other activity that the Commissioner may require; (h) Requiring an applicant for the acquisition of control of a licensee to use the Registry to submit the application required by NRS 671.155 ; (i) Authorizing the Registry to, on behalf of the Commissioner, collect fingerprints in order to receive or conduct a background check on the criminal history of an applicant for a license or a licensee; and (j) Requiring the use of the Registry for any other aspect of licensing that the Commissioner deems necessary.

3. The Commissioner may use the forms, processes and functionalities of the Registry to implement the requirements of this chapter. If the Registry does not provide functionality, forms or processes necessary to implement a requirement set forth in this chapter, the Commissioner may strive to implement the requirement in a manner that facilitates uniformity with respect to licensing, supervision, reporting and regulation of licensees which are licensed in multiple jurisdictions.

4. An applicant for a license, an applicant for the acquisition of control of a licensee or a licensee shall, in addition to any other fees associated with the license, pay all applicable charges to use the Registry, including, without limitation, any processing charges established by the administrator of the Registry.

5. The Commissioner may adopt any regulations the Commissioner determines to be necessary or appropriate to carry out the provisions of this section. Such regulations may, without limitation, establish any additional procedures and requirements for participation in the Registry that the Commissioner determines are consistent with law, public interest and the purposes of this section.

6. The provisions of this section shall not be construed to replace or affect the authority of the Commissioner to grant, deny, suspend, terminate, revoke or refuse to renew a license.
Nev. Rev. Stat. § 666A.310 — NV Code / Title 55 / Chapter 666A / Section 666A.310
Closure of office
Status: in_force

1. No foreign bank which is licensed to establish and maintain a state branch, agency or representative office may close that office without obtaining the prior written approval of the Commissioner. An application by a foreign bank under this section must be in such form and include such information as the Commissioner requires.

2. If the Commissioner finds that the closing of the office will not be substantially detrimental to the public convenience and advantage, the Commissioner shall approve the application.

3. If an application by a foreign bank under this section is approved and all conditions precedent to the closing have been fulfilled, the foreign bank may close the office and shall promptly thereafter surrender to the Commissioner the license which authorized it to maintain the office.
Nev. Rev. Stat. § 670B.020 — NV Code / Title 55 / Chapter 670B / Section 670B.020
“Control person” defined
Status: in_force

1. “ Control person ” means: (a) An executive officer, director, general partner, trustee, member, qualified employee or shareholder of a student loan servicer, licensee or applicant for a license; or (b) A person who is authorized to participate in direct or indirect control of the management or policies of a student loan servicer, licensee or applicant for a license.

2. As used in this section, “ executive officer ” means an officer, manager, partner or managing member of a student loan servicer, licensee or applicant for a license. The term includes, without limitation, a chief executive officer, president, vice president, chief financial officer, chief operating officer, chief legal officer, controller or compliance officer or a natural person who holds any similar position.
Nev. Rev. Stat. § 673.0155 — NV Code / Title 55 / Chapter 673 / Section 673.0155
“Insolvency” or “insolvent” defined
Status: in_force

“ Insolvency ” or “ insolvent ” means one or more of the following:

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

2. When the actual cash market value of the assets of a savings bank is insufficient to pay its liabilities to depositors and other creditors.

3. When the reserves of a savings bank fall under the amount required by this chapter, and the savings bank fails to make good such reserve within 30 days after being required to do so by the Commissioner.

4. When the undivided profits and surplus of a savings bank are inadequate to cover losses of the savings bank and the stockholders' or members' equity in the savings bank has been reduced below the requirements of law.
Nev. Rev. Stat. § 668.095 — NV Code / Title 55 / Chapter 668 / Section 668.095
Penalties for making, aiding in making, or suppressing evidence of false or fraudulent report
Status: in_force

1. An examiner of financial institutions who knowingly and willfully makes any false or fraudulent report of the condition of any bank which has been examined by him or her, with the intent to aid or abet the officers or agents of the bank in continuing to operate an insolvent bank, or if the examiner keeps or accepts any bribe or gratuity given for the purpose of inducing him or her not to file any report of examination of any bank examined by him or her, or neglects to make an examination of any bank because of having received or accepted any bribe or gratuity, is guilty of a category C felony and shall be punished as provided in NRS 193.130 .

2. A person who knowingly aids or abets an examiner of financial institutions or any other person in doing or performing any of the acts prohibited in subsection 1 is guilty of a category C felony and shall be punished as provided in NRS 193.130 .

3. A person, having knowledge of a report made by an examiner of financial institutions of the condition of any bank, who falsifies, changes, alters or suppresses any such report with the intent to aid or abet the officers or agents of a bank in continuing to operate an insolvent bank, or any such person who keeps or accepts any bribe or gratuity given for the purpose of inducing him or her not to file any such report of examination or to falsify, change, alter or suppress any such report of examination, is guilty of a category C felony and shall be punished as provided in NRS 193.130 .
Nev. Rev. Stat. § 673.221 — NV Code / Title 55 / Chapter 673 / Section 673.221
Unlawful acts; penalty
Status: in_force

1. It is unlawful for an officer, director, employee or capital stockholder of a savings bank: (a) To solicit, accept or agree to accept, directly or indirectly, from any person other than the savings bank or an affiliate of the savings bank, any gratuity, compensation or other personal benefit for any action taken by the savings bank or for endeavoring to procure any such action. (b) To have any interest, direct or indirect, in the purchase at less than its face value of any evidence of a deposit account or other indebtedness issued by the savings bank, excluding stock certificates and junior capital notes.

2. It is unlawful for any stockholder with more than 5 percent of the outstanding capital stock of a savings bank or any director or principal officer, to have any interest, direct or indirect, in the proceeds of a loan or of a purchase or sale made by the savings bank, unless the loan, purchase or sale complies with the provisions of NRS 673.3244 or is otherwise authorized expressly by this chapter or by a resolution of the board of directors of the savings bank. The resolution must be approved by a vote of at least two-thirds of all the directors of the savings bank, and an interested director may not take part in the vote. The loan must also conform to federal regulations for the insurance of accounts.

3. Any violation of the provisions of this section is a misdemeanor.
Nev. Rev. Stat. § 671.485 — NV Code / Title 55 / Chapter 671 / Section 671.485
Administrative fines
Status: in_force

In addition to any other remedy or penalty, the Commissioner may impose an administrative fine of not more than $10,000 upon a person who:

1. Without a license, conducts any business or activity for which a license is required pursuant to the provisions of this chapter; or

2. Violates any provision of this chapter or any regulation adopted pursuant thereto.
Nev. Rev. Stat. § 670B.630 — NV Code / Title 55 / Chapter 670B / Section 670B.630
Complaints: Submission to Commissioner for investigation; Division of Financial Institutions required to share with Office of the Attorney General
Status: in_force

1. The Student Loan Ombudsman designated pursuant to NRS 226.560 or a member of the public may submit a complaint concerning a student loan servicer to the Commissioner for investigation pursuant to NRS 670B.640 .

2. The Division of Financial Institutions shall share a complaint submitted pursuant to this section with the Office of the Attorney General in accordance with NRS 226.575 .
Nev. Rev. Stat. § 661.025 — NV Code / Title 55 / Chapter 661 / Section 661.025
Requirements for stockholders' or members' equity determined by Commissioner; deposit liability; acceptance of deposits
Status: in_force

1. The stockholders' or members' equity of any state bank must, subject to the limitations set forth in NRS 661.015 , be at least 6 percent of the total deposit liability of the bank as determined by the Commissioner. In determining the amount of stockholders' or members' equity that will be required, the Commissioner shall give due consideration to the character and liquidity of the assets of the bank and to the standards regarding equity requirements established by other state and federal banking supervising agencies.

2. The Commissioner shall, to determine the requirements for stockholders' or members' equity for any state bank, include undivided profits, capital notes, debentures and any reserve for losses.

3. The deposit liability for the purposes of this section must be the average of daily deposit liabilities for the preceding 60 calendar days.

4. This section does not prohibit the acceptance of deposits by any bank while it is proceeding expeditiously, as determined by the Commissioner, to comply with the provisions of this section.
Nev. Rev. Stat. § 673.5919 — NV Code / Title 55 / Chapter 673 / Section 673.5919
Destruction of records of liquidated insolvent savings banks
Status: in_force

1. Except as otherwise provided in subsections 2 and 3, after the expiration of 10 years from the filing by the Commissioner of a final report of liquidation of any insolvent savings bank, the Commissioner, with the consent of the State Board of Finance, may destroy the records of any insolvent savings bank held in the Office of the Commissioner in connection with the liquidation of the savings bank.

2. If there are any unpaid dividends of the insolvent savings bank, the Commissioner shall preserve the deposit ledger or other evidence of indebtedness of the savings bank which refers to the unpaid dividends until the dividends have been paid.

3. The Commissioner may not destroy any of the formal records of liquidation or any of the records made in the Commissioner's office with reference to the liquidation of any insolvent savings bank.
Nev. Rev. Stat. § 657A.510 — NV Code / Title 55 / Chapter 657A / Section 657A.510
Confidentiality of records and information; immunity from liability for Director and applicable regulators concerning disclosure of certain records and information; admissibility of certain records and information
Status: in_force

1. Any record or information in a record submitted to or obtained by the Director or an applicable regulator pursuant to this chapter: (a) Except as otherwise provided in this section, is confidential and not a public book or record within the meaning of NRS 239.010 . (b) May be disclosed by the Director or an applicable regulator to: (1) Any governmental agency or official; or (2) A federal, state or county grand jury in response to a lawful subpoena.

2. Any disclosure pursuant to subsection 1 of a complaint relating to a financial product or service or the results of an examination, inquiry or investigation relating to a participant or product or service does not make the relevant record or information in a record a public record within the meaning of NRS 239.010 , and a participant shall not disclose any such record or information to the general public except in connection with any disclosure required by law. A participant shall not disclose, use or refer to any comments, conclusions or results of an examination, inquiry or investigation in any communication to a consumer or potential consumer.

3. The Director and any applicable regulator are immune from civil liability for any damages sustained because of a disclosure of any record or information in a record that is received or obtained pursuant to this chapter.

4. Nothing contained in this section shall be deemed to preclude the disclosure of any record or information in a record that is admissible in evidence in any civil or criminal proceeding brought by a state or federal law enforcement agency to enforce or prosecute a civil or criminal violation of any law.
Nev. Rev. Stat. § 676A.280 — NV Code / Title 55 / Chapter 676A / Section 676A.280
Uniformity of application and construction
Status: in_force

In applying and construing the Uniform Debt-Management Services Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Nev. Rev. Stat. § 671.305 — NV Code / Title 55 / Chapter 671 / Section 671.305
Quarterly report of condition: Submission; contents; authority of Commissioner to waive, modify or alter requirements
Status: in_force

1. Except as otherwise provided by regulation of the Commissioner, a licensee shall submit to the Commissioner a report of condition within 45 days after the end of the calendar quarter, or within any extended period that the Commissioner may prescribe. The report of condition must include, without limitation: (a) Financial information concerning the licensee; (b) Nationwide and state-specific money transmission transaction information in every jurisdiction in the United States where the licensee is licensed to engage in money transmission; (c) A report concerning the permissible investments of the licensee; (d) A report identifying each foreign country to which the licensee transmitted money or credits and the amount of money or credits transmitted, if applicable; and (e) Any other information the Commissioner may reasonably require.

2. The Commissioner may use the Registry for the submission of the report required by subsection 1. The Commissioner may, by regulation, waive, modify or alter the requirements of subsection 1 to carry out the purposes of this chapter and maintain consistency with reporting requirements of the Registry.
Nev. Rev. Stat. § 673.00575 — NV Code / Title 55 / Chapter 673 / Section 673.00575
“Deposit account” defined
Status: in_force

“ Deposit account ” means an account that holds deposits, whether in a commercial, demand, time, checking, savings or similar type of account, or which is evidenced by a certificate of deposit, investment certificate, certificate of indebtedness or other similar name, for which the savings bank is primarily liable.
Nev. Rev. Stat. § 671.175 — NV Code / Title 55 / Chapter 671 / Section 671.175
Acquisition of control of licensee: Exceptions from requirements for approval
Status: in_force

The requirements of NRS 671.155 do not apply to a person who has previously complied with and received approval to engage in money transmission pursuant to this chapter or was identified as a person in control of a licensee in a prior application filed with and approved by the Commissioner or by a money services business accredited state pursuant to a multistate licensing process, so long as:

1. The person has not had a license revoked or suspended or controlled a licensee that has had a license revoked or suspended while the person was in control of the licensee in the 5 years immediately preceding the date on which the person intends to complete the acquisition of control of a licensee;

2. If the person is a licensee, the person is well managed and has received at least a satisfactory rating for compliance in the most recent examination of the licensee conducted by a money services business accredited state, if such rating was given;

3. The licensee to be acquired is projected to meet the requirements of this chapter after the acquisition of control is completed, and if the person acquiring control is a licensee, that licensee is also projected to meet the requirements of NRS 671.100 or 671.110 , as applicable, and 671.115 and 671.125 after the acquisition of control is completed;

4. The licensee to be acquired will not implement any material changes to its business plan as a result of the acquisition of control, and if the person acquiring control is a licensee, that licensee also will not implement any material changes to its business plan as a result of the acquisition of control; and

5. The person provides notice of the acquisition in cooperation with the licensee and attests to the circumstances set forth in subsections 1 to 4, inclusive, in a form prescribed by the Commissioner.
Nev. Rev. Stat. § 677.240 — NV Code / Title 55 / Chapter 677 / Section 677.240
Authorization for change of place of business
Status: in_force

If a licensee desires to change its place of business to a street address other than that designated in its authorization, it shall give written notice to the Commissioner who shall issue his or her written authorization of the change, if the Commissioner finds such change of place of business would not justify a negative finding.
Nev. Rev. Stat. § 672.330 — NV Code / Title 55 / Chapter 672 / Section 672.330
Offices; principal place of business
Status: in_force

1. A credit union may maintain, with the approval of the Commissioner, offices at locations other than its main office if the maintenance of the offices is reasonably necessary to furnish service to its members.

2. A credit union may change its principal place of business within this state upon providing written notice to the Division of Financial Institutions.

3. A credit union may share office space with one or more credit unions and contract with a corporation to provide facilities or personnel.
Nev. Rev. Stat. § 671.315 — NV Code / Title 55 / Chapter 671 / Section 671.315
Quarterly report concerning authorized delegates: Submission; contents
Status: in_force

1. Each licensee shall submit to the Commissioner a report concerning each authorized delegate of the licensee within 45 days after the end of the calendar quarter. The report must include, without limitation, the following information for each authorized delegate: (a) The legal name of the company; (b) Taxpayer employer identification number; (c) Principal provider identifier; (d) Physical address; (e) Mailing address; (f) Any business conducted in other states; (g) Any fictitious or trade name; (h) The name, telephone number and electronic mail address for the contact person of the authorized delegate; (i) The date upon which the authorized delegate was designated as an authorized delegate of the licensee; (j) The date upon which the authorized delegate ceased being an authorized delegate for the licensee, if applicable; (k) Any court order concerning the licensee pursuant to NRS 671.225 ; and (l) Any other information the Commissioner may reasonably require with respect to the authorized delegate.

2. The Commissioner may use the Registry for the submission of the report required by this section provided that such functionality is consistent with the requirements of this section.
Nev. Rev. Stat. § 672.840 — NV Code / Title 55 / Chapter 672 / Section 672.840
Procedure for liquidation
Status: in_force

1. A liquidating credit union shall continue in existence for the purpose of discharging its debts, collecting and distributing its assets, and doing any other acts required to wind up its business.

2. The board or, in the case of involuntary dissolution, the liquidating agent, shall pay from the assets, the obligations of the credit union in the following order: (a) Expenses incidental to liquidation including any surety bond that may be required. (b) Any liability due to nonmembers. (c) Deposits and savings club accounts. If any assets remain, they shall be distributed to the members proportionately to the number of shares held by each member as of the date dissolution was approved by the members or ordered by the Commissioner.

3. As soon as the board or the liquidating agent determines that all assets from which there is a reasonable expectancy of realization have been liquidated and distributed as set forth in this section, he or she shall execute a certificate of dissolution on a form provided by the Division of Financial Institutions and shall file such form with the proper recording authority within the county in which the credit union has its principal place of business. After filing or recording, and indexing the original form shall be forwarded to the Division of Financial Institutions and upon its receipt and filing such credit union shall be officially dissolved.
Nev. Rev. Stat. § 675.166 — NV Code / Title 55 / Chapter 675 / Section 675.166
Commissioner required to report certain information or material to Registry; confidentiality of information or material provided; Commissioner authorized to enter into certain agreements and arrangements
Status: in_force

1. Subject to any limitations or restrictions contained in federal or state law governing the privacy or confidentiality of records, the Commissioner shall report regularly any violations of applicable laws committed by applicants for a license or licensees, enforcement actions and other relevant information to the Registry.

2. The requirements under any federal or state law, including, without limitation, rules of a federal or state court, regarding the privacy and confidentiality of any information or material provided to the Registry and any privilege arising under federal or state law with respect to such information or material, continue to apply to such information or material after it has been disclosed to the Registry. Such information and material may be shared with federal and state regulatory officials with oversight authority over licensees without the loss of privilege or the loss of confidentiality protections provided by federal or state law.

3. The Commissioner may enter into agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the State Regulatory Registry, LLC, or other associations representing governmental agencies.
Nev. Rev. Stat. § 673.215 — NV Code / Title 55 / Chapter 673 / Section 673.215
Directors: Meetings; quorum
Status: in_force

1. The board of directors of each savings bank shall hold a regular meeting at least once each quarter, at a time to be designated by it in accordance with its bylaws.

2. Special meetings of the board of directors may be held upon notice to each director sufficient to permit his or her attendance. The president or any three members of the board of directors may call a meeting of the board of directors by giving notice to all of the directors.

3. At any meeting of the board of directors, a majority of the members constitutes a quorum for the transaction of business.
Nev. Rev. Stat. § 669.300 — NV Code / Title 55 / Chapter 669 / Section 669.300
Violation of chapter constitutes gross misdemeanor unless otherwise specified
Status: in_force

Where no other punishment is otherwise provided by law, any person violating any provision of this chapter is guilty of a gross misdemeanor.
Nev. Rev. Stat. § 673.209 — NV Code / Title 55 / Chapter 673 / Section 673.209
Removal of director, officer or employee on objection of Commissioner
Status: in_force

If the Commissioner notifies the board of directors of any savings bank, in writing, that he or she has information that any director, officer or employee of the savings bank is failing in the performance of his or her duties, the board of directors shall meet and consider the matter forthwith. The Commissioner must have notice of the time and place of the meeting. If the board of directors finds the Commissioner's objection to be well founded, the director, officer or employee shall be removed immediately.
Nev. Rev. Stat. § 657A.110 — NV Code / Title 55 / Chapter 657A / Section 657A.110
“Applicable regulator” defined
Status: in_force

“ Applicable regulator ” means the Commissioner of Mortgage Lending, the Division of Mortgage Lending of the Department of Business and Industry, the Commissioner of Financial Institutions or the Division of Financial Institutions of the Department of Business and Industry, as applicable, responsible for regulating a financial product or service.
Nev. Rev. Stat. § 658.035 — NV Code / Title 55 / Chapter 658 / Section 658.035
Oath of Commissioner
Status: in_force

After appointment and before entering upon the discharge of the duties of office, the Commissioner shall take and subscribe to an official oath.
Nev. Rev. Stat. § 677.650 — NV Code / Title 55 / Chapter 677 / Section 677.650
Making loan to or purchasing contract or chose in action from officer, director or other specified person prohibited; exception; personal liability
Status: in_force

1. Except as otherwise provided in subsection 2, a licensee shall not directly or indirectly make any loan to, or purchase a contract or chose in action from: (a) A person who is an officer, director or holder of record or beneficiary of 10 percent or more of the shares of the licensee; (b) A person in which an officer, director or holder of record or beneficiary of 10 percent or more of the shares of the licensee directly or indirectly is financially interested; or (c) A person who acquired the contract directly or indirectly or through intervening assignments from a person described in paragraph (a) or (b), unless the licensee has been authorized by the Commissioner to make that loan or purchase that contract or chose in action from that person.

2. Loans may be made to an officer, director or stockholder of the licensee, upon collateral of his or her deposits with the licensee, of not more than 90 percent of the amount of his or her deposits, at the same rates of interest and under the same terms as loans secured by deposits are offered to members of the general public.

3. Any officer, director or stockholder of a licensee who: (a) Knowingly and intentionally makes or procures or participates in making or procuring, directly or indirectly, a loan or contract in violation of this section; or (b) Knowingly approves a loan or contract in violation of this section, is personally liable for any loss resulting to the licensee from the loan or contract, in addition to any other penalties provided by law.
Nev. Rev. Stat. § 672.050 — NV Code / Title 55 / Chapter 672 / Section 672.050
“Chair” defined
Status: in_force

“Chair” means the chair of the board of a credit union.
Nev. Rev. Stat. § 657.075 — NV Code / Title 55 / Chapter 657 / Section 657.075
“Surplus” defined
Status: in_force

“Surplus” means a fund created pursuant to the provisions of chapters 657 to 671, inclusive, of NRS by a bank from payments by stockholders or members or from the bank's net earnings or undivided profits which, to the amount specified and by any additions thereto set apart and designated as such, is not available for the payment of dividends and cannot be used for the payment of expenses or losses while the bank has undivided profits.
Nev. Rev. Stat. § 660.105 — NV Code / Title 55 / Chapter 660 / Section 660.105
Construction of provisions relating to electronic transfer of money
Status: in_force

The provisions of this chapter relating to the electronic transfer of money must be construed in a manner which is consistent with, and which is not less restrictive than, the Electronic Fund Transfer Act, 15 U.S.C. §§ 1693 - 1693r , inclusive.
Nev. Rev. Stat. § 673.219 — NV Code / Title 55 / Chapter 673 / Section 673.219
Directors: Approval of depositary for money of savings bank
Status: in_force

The board of directors shall approve the depositary or depositaries for funds of the savings bank.
Nev. Rev. Stat. § 657.037 — NV Code / Title 55 / Chapter 657 / Section 657.037
“Depository institution” defined
Status: in_force

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

1. Holds or receives deposits, savings or share accounts;

2. Issues certificates of deposit; or

3. Provides to its customers other depository accounts which are subject to withdrawal by checks, drafts or other instruments or by electronic means to effect payment to a third party.
Nev. Rev. Stat. § 669A.140 — NV Code / Title 55 / Chapter 669A / Section 669A.140
Requirements for licensed family trust company: Resident officer; physical office; registered agent; licenses, registrations and permits; bank account
Status: in_force

A licensed family trust company shall maintain:

1. At least one officer of the licensed family trust company who is a resident of this State;

2. A physical office in this State where original or true copies of all material business records and accounts of the licensed family trust company may be accessed and readily available for examination by the Division of Financial Institutions;

3. A registered agent, with an office at the street address of the registered agent, in this State;

4. All applicable state and local business licenses, registrations and permits; and

5. A bank account with a state chartered or national bank having a principal or branch offices in this State.
Nev. Rev. Stat. § 673.5924 — NV Code / Title 55 / Chapter 673 / Section 673.5924
Hearing on objections to appointment of successor trustee; appeal from order
Status: in_force

If, upon the day fixed in the order and notice, objection is made to the appointment of a new trustee, the court shall hear and determine the matter. An appeal may be taken from the decision of the court by any party who made an appearance in the proceeding.
Nev. Rev. Stat. § 676A.200 — NV Code / Title 55 / Chapter 676A / Section 676A.200
“Principal amount of the debt” defined
Status: in_force

“ Principal amount of the debt ” means the amount of a debt at the time of an agreement.
Nev. Rev. Stat. § 658.098 — NV Code / Title 55 / Chapter 658 / Section 658.098
Assessment for cost of legal services provided to Commissioner and Division of Financial Institutions; deposit of money in State Treasury
Status: in_force

1. On a quarterly or other regular basis, the Commissioner shall collect an assessment pursuant to this section from each: (a) Check-cashing service or deferred deposit loan service that is supervised pursuant to chapter 604A of NRS ; (b) Collection agency that is supervised pursuant to chapter 649 of NRS ; (c) Bank that is supervised pursuant to chapters 657 to 668, inclusive, of NRS; (d) Trust company or family trust company that is supervised pursuant to chapter 669 or 669A of NRS ; (e) Person engaged in the business of money transmission that is supervised pursuant to chapter 671 of NRS ; (f) Savings and loan association or savings bank that is supervised pursuant to chapter 673 of NRS ; (g) Person engaged in the business of lending that is supervised pursuant to chapter 675 of NRS ; (h) Thrift company that is supervised pursuant to chapter 677 of NRS ; (i) Credit union that is supervised pursuant to chapter 672 of NRS ; (j) Consumer litigation funding company that is supervised pursuant to chapter 604C of NRS ; and (k) Student loan servicer that is supervised pursuant to chapter 670B of NRS .

2. The Commissioner shall determine the total amount of all assessments to be collected from the entities identified in subsection 1, but that amount must not exceed the amount necessary to recover the cost of legal services provided by the Attorney General to the Commissioner and to the Division of Financial Institutions. The total amount of all assessments collected must be reduced by any amounts collected by the Commissioner from an entity for the recovery of the costs of legal services provided by the Attorney General in a specific case.

3. The Commissioner shall collect from each entity identified in subsection 1 an assessment that is based on: (a) A portion of the total amount of all assessments as determined pursuant to subsection 2, such that the assessment collected from an entity identified in subsection 1 shall bear the same relation to the total amount of all assessments as the total assets of that entity bear to the total of all assets of all entities identified in subsection 1; or (b) Any other reasonable basis adopted by the Commissioner.

4. The assessment required by this section is in addition to any other assessment, fee or cost required by law to be paid by an entity identified in subsection 1.

5. Money collected by the Commissioner pursuant to this section must be deposited in the State Treasury pursuant to the provisions of NRS 658.091 .
Nev. Rev. Stat. § 675.050 — NV Code / Title 55 / Chapter 675 / Section 675.050
Effect of amendment or repeal of chapter on preexisting lawful contracts
Status: repealed

This chapter or any part thereof may be modified, amended or repealed so as to effect a cancellation or alteration of any license or right of a licensee under this chapter, provided that such cancellation or alteration shall not impair or affect the obligation of any preexisting lawful contract between any licensee and any borrower.
Nev. Rev. Stat. § 659.065 — NV Code / Title 55 / Chapter 659 / Section 659.065
Filing of articles of incorporation or organization; filing of certificate of amendment of articles; effect of filing; admissibility of articles as evidence; limitation on validity
Status: in_force

1. Upon receipt of the certification from the Commissioner, the Secretary of State shall, if the articles of incorporation or organization are, or the certificate of amendment of the articles of incorporation or organization is, in accordance with law, file the articles or the certificate of amendment and cause the articles or certificate of amendment to be recorded in the Office of the Secretary of State. The Secretary of State shall, upon the payment of the organization fees, certify under his or her official seal a copy of the original or amended articles. The certified copy of the original or amended articles must be filed in the Office of the Commissioner.

2. Upon completion of the requirements of subsection 1, the banking corporation or company is legally constituted under the name stated in the articles.

3. The articles, or a copy thereof, certified by the Secretary of State or the Commissioner, under their respective seals, are admissible as evidence in all courts and places, and are, in all judicial proceedings, prima facie evidence of the complete organization and incorporation of the banking corporation purporting to have been established by the articles.

4. The articles of a bank become void if the bank fails to complete its organization and open for business to the public within 6 months after the date of the filing of its articles or a certificate of amendment of its articles by the Secretary of State. The Commissioner may extend this limitation for good cause.
Nev. Rev. Stat. § 662.239 — NV Code / Title 55 / Chapter 662 / Section 662.239
Conditions and limitations on maintaining trust offices in Nevada and other states; regulations
Status: in_force

1. A bank organized under chapters 657 to 671, inclusive, of NRS may maintain trust offices in this or other states with the written consent of the Commissioner.

2. Any action taken by the Commissioner pursuant to subsection 1 is subject to review in the manner provided in NRS 659.055 .

3. The Commissioner may adopt regulations establishing reasonable conditions and requirements for the approval and maintenance of trust offices.

4. As used in this section, “trust office” means an office, other than the principal office, at which a bank organized under chapters 657 to 671, inclusive, of NRS is authorized by the Commissioner to conduct the business of a trust company.
Nev. Rev. Stat. § 669.209 — NV Code / Title 55 / Chapter 669 / Section 669.209
Foreign trust company request to maintain a retail trust company and engage in business in this State; procedure for denial or approval; fees; conditions; renewal; authorization of Commissioner to investigate; deposit of fees
Status: in_force

1. If a foreign trust company seeks to establish and maintain a retail trust company office and engage in the business of a trust company in this State, the foreign trust company must, in addition to any other requirements of law, submit to the Commissioner a written request on a form prescribed by the Commissioner for authorization to establish and maintain a retail trust company office and engage in the business of a trust company in this State. The written request must be accompanied by: (a) A nonrefundable fee of $1,000. (b) Evidence that the foreign 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 following information about each retail trust company office in this State: (1) The address of the retail trust company office; (2) The name of all persons who will be employed at the retail trust company office; and (3) Evidence of compliance with all applicable requirements for state and local business registrations and licenses. (d) Confirmation that the foreign trust company is authorized to conduct business as a trust company in its home state. (e) Confirmation by the applicable regulatory authority in the home state of the foreign trust company that the license or charter of the foreign trust company is in good standing. (f) Confirmation that the laws of the home state of the foreign trust company authorize a retail trust company organized under the laws of this State, licensed pursuant to this chapter and subject to regulation, supervision and examination by the Commissioner and a federal banking regulator to engage in the activities in which the foreign trust company proposes to engage in this State on substantially the same basis as authorized under the laws of this State. (g) Confirmation that the foreign trust company's 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, after considering the views of the home state regulator and the federal banking regulator to the extent available, may deny the approval of a foreign trust company to establish and maintain a retail trust company office and engage in the business of a trust company in this State if the Commissioner finds, after notice and hearing: (a) That the foreign trust company lacks sufficient financial resources to undertake the proposed activity 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 establish and maintain a retail trust company office and engage in the business of a trust company in this State submitted pursuant to subsection 1, the foreign 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 (g), inclusive, of subsection 1 remains accurate. If any such information has been changed, the foreign trust company shall provide updated information.

4. If the Commissioner approves a written request for authorization to establish and maintain a retail trust company office and engage in the business of a trust company submitted pursuant to subsection 1, the foreign trust company may: (a) Establish and maintain a retail trust company office in this State; and (b) Engage in the business of a trust company in this State, including, without limitation: (1) Acting as a fiduciary in this State; (2) Accepting fiduciary appointments, executing documents that create a fiduciary relationship and making decisions regarding the investment or distribution of fiduciary assets; and (3) Advertising and soliciting trust company business in this State and contacting existing or prospective customers.

5. The Commissioner may: (a) Rely on the applicable regulatory authority of the home state and the applicable federal banking regulator to examine and investigate activity conducted by the foreign trust company; (b) Investigate any retail trust company office established and maintained in this State by a foreign trust company as the Commissioner may deem necessary to determine if the retail trust company 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 trust company that has established and maintains a retail trust company office in this State.

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, “ retail trust company office ” means a place of business in this State from which a foreign trust company may engage in the business of a trust company.
Nev. Rev. Stat. § 675.420 — NV Code / Title 55 / Chapter 675 / Section 675.420
Surrender of license by licensee; surrender as affecting licensee's liability
Status: in_force

Any licensee may surrender any license by delivering it to the Commissioner with written notice of its surrender, but a surrender does not affect his or her civil or criminal liability for acts committed prior thereto.
Nev. Rev. Stat. § 675.230 — NV Code / Title 55 / Chapter 675 / Section 675.230
Restriction on location of business of making loans
Status: in_force

1. Except as otherwise provided in subsections 2 and 3, a licensee may not conduct the business of making loans under this chapter within any office, suite, room or place of business in which any other business is solicited or engaged in, except an insurance agency or notary public, or in association or conjunction with any other business, unless authority to do so is given by the Commissioner.

2. A licensee may conduct the business of making loans pursuant to this chapter in the same office or place of business as a mortgage company if: (a) The licensee and the mortgage company: (1) Operate as separate legal entities; (2) Maintain separate accounts, books and records; (3) Are subsidiaries of the same parent corporation; and (4) Maintain separate licenses; and (b) The mortgage company is licensed by this state pursuant to chapter 645B of NRS and does not receive money to acquire or repay loans or maintain trust accounts as provided by NRS 645B.175 .

3. A licensee who is an Internet business lender may conduct the business of making loans pursuant to this chapter within any office, suite, room or place of business in which any other business is solicited or engaged in.
Nev. Rev. Stat. § 673.278 — NV Code / Title 55 / Chapter 673 / Section 673.278
Power to make loans includes power to purchase loans and make loans upon security of other loans
Status: in_force

The power of a savings bank to make loans shall include:

1. The power to purchase loans of any type that the savings bank may make.

2. The power to make loans upon the security of loans of any type that the savings bank may make.
Nev. Rev. Stat. § 675.361 — NV Code / Title 55 / Chapter 675 / Section 675.361
Terms of written agreement
Status: in_force

A licensee may make a loan for an indefinite term under a written agreement between the licensee and the borrower. Pursuant to this agreement:

1. The borrower may obtain cash advances from the licensee periodically by a check, draft, credit card or any other means or the licensee may pay out money at the borrower's direction or on his or her behalf;

2. An open-end account must be established for the borrower and the amount of each cash advance made to the borrower and any interest, charges and other costs must be debited to that account and any payments on the loan or other credits must be credited to that account;

3. The interest and other charges must be computed periodically on the unpaid balance in the borrower's account; and

4. The borrower may pay his or her account in full at any time without a penalty for prepayment, or if the account is not in default, in monthly installments of fixed or determinable amounts as provided in the agreement.
Nev. Rev. Stat. § 658.025 — NV Code / Title 55 / Chapter 658 / Section 658.025
Commissioner prohibited from having interest in bank or regulated corporation
Status: in_force

The Commissioner must not, either directly or indirectly, be interested in any bank or corporation to which chapters 657 to 671, inclusive, of NRS are applicable, except as a depositor, nor engage in business as a personal loan broker.
Nev. Rev. Stat. § 657.097 — NV Code / Title 55 / Chapter 657 / Section 657.097
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 chapters 657 to 671, inclusive, of NRS 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. § 677.373 — NV Code / Title 55 / Chapter 677 / Section 677.373
Application for license: Additional requirements; fingerprints; grounds for refusal to issue license
Status: in_force

1. In addition to any other requirements set forth in this chapter, each applicant must submit: (a) Proof satisfactory to the Commissioner that the applicant: (1) Has a good reputation for honesty, trustworthiness and integrity and is competent to transact the business for which the applicant seeks to be licensed in a manner which protects the interests of the general public. (2) Has not made a false statement of material fact on the application for the license. (3) Has not committed any of the acts specified in subsection 2. (4) Has not had a license issued pursuant to this chapter suspended or revoked within the 10 years immediately preceding the date of the application. (5) Has not been convicted of, or entered a plea of nolo contendere to, a felony or any crime involving fraud, misrepresentation or moral turpitude. (b) A complete set of his or her fingerprints and written permission authorizing the Division of Financial Institutions of the Department of Business and Industry to forward the fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report.

2. In addition to any other lawful reasons, the Commissioner may refuse to issue a license to an applicant if the applicant: (a) Has committed or participated in any act which, if committed or done by a holder of a license, would be grounds for the suspension or revocation of the license. (b) Has previously been refused a license pursuant to this chapter or has had such a license suspended or revoked. (c) Has participated in any act which was a basis for the refusal or revocation of a license pursuant to this chapter. (d) Has falsified any of the information submitted to the Commissioner in support of the application for the license.
Nev. Rev. Stat. § 675.260 — NV Code / Title 55 / Chapter 675 / Section 675.260
Required reports
Status: in_force

1. Annually, on or before April 15, each licensee shall file with the Commissioner and the Nationwide Multistate Licensing System and Registry a report of operations of the licensed business for the preceding calendar year. The report must be made under oath and must be in the form and contain information prescribed by the Commissioner. If any person or affiliated group holds more than one license in the state, it may file a composite annual report.

2. The Commissioner may require a licensee to file more frequent reports as the Commissioner determines necessary.
Nev. Rev. Stat. § 676A.060 — NV Code / Title 55 / Chapter 676A / Section 676A.060
“Business address” defined
Status: in_force

“ Business address ” means the physical location of a business, including, without limitation, the name and number of a street.
Nev. Rev. Stat. § 675.110 — NV Code / Title 55 / Chapter 675 / Section 675.110
Investigation by Commissioner; notice; hearing; order
Status: in_force

1. Upon the filing of the application and the payment of the fees, the Commissioner shall investigate the facts concerning the application and the requirements provided for in NRS 675.120 .

2. The Commissioner may hold a hearing on the application at a time not less than 30 days after the date the application was filed nor more than 60 days after that date. The hearing must be held in the Office of the Commissioner or such other place as he or she may designate. Notice in writing of the hearing must be sent to the applicant and to any licensee to which a notice of the application has been given and to such other persons as the Commissioner may see fit, at least 10 days before the date set for the hearing.

3. The Commissioner shall make his or her order granting or denying the application within 10 days after the date of the closing of the hearing, unless the period is extended by written agreement between the applicant and the Commissioner.
Nev. Rev. Stat. § 675.164 — NV Code / Title 55 / Chapter 675 / Section 675.164
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. § 675.310 — NV Code / Title 55 / Chapter 675 / Section 675.310
Collection of loans made outside State
Status: in_force

Any loan made outside this state lawfully made as permitted by the laws of the state in which the loan was made may be collected or otherwise enforced in this state in accordance with its terms.
Nev. Rev. Stat. § 677.630 — NV Code / Title 55 / Chapter 677 / Section 677.630
Permissible transactions in real property
Status: in_force

1. A licensee may purchase, hold, develop and convey real property, including apartments and other buildings, for the following purposes only: (a) Real property conveyed to it in satisfaction of debts contracted in the course of its business. (b) Real property purchased at sale under judgments, decrees or mortgage foreclosures or foreclosures of or trustees' sales under deeds of trust, or pursuant to an order of a bankruptcy court. A licensee shall not bid against its debtor at any such sale in a larger amount than is necessary to satisfy its debt and costs. (c) Real property necessary as premises for the transaction of its business. A licensee shall not invest directly or indirectly an amount exceeding one-third of its stockholders' equity in the lot and building in which the business of the company is carried on, furniture and fixtures, and vaults, necessary and proper to carry on its business. (d) Real property purchased or held for the purpose of development. An investment for this purpose must not exceed the market value of the property as evidenced by an appraisal prepared by a member of the American Institute of Real Estate Appraisers, the National Association of Review Appraisers and Mortgage Underwriters, the Society of Real Estate Appraisers or the Independent Fee Appraisers Society or an appraiser approved by the Commissioner. Within 120 days after the investment is made: (1) The licensee shall provide the Commissioner with a certified copy of one or more appraisal reports and a report from a title insurer which shows, for not less than the immediately preceding 3 years, the chain of title and the amount of consideration for which the title was transferred, if that information is available. (2) The Commissioner may require a statement from the licensee disclosing whether any director, officer or employee of the licensee has, or has had within the immediately preceding 3 years, any direct or indirect interest in the property. For the purposes of this subparagraph, “interest” includes ownership of stock in a corporation which has an interest in the property. If the total amount to be invested in real property for residential development, excluding any real property which is mortgaged to the licensee as security for money owing to the licensee, exceeds the stockholders' equity of the licensee, the investment may not be made without the written approval of the Commissioner. Any person who fails to make a disclosure required by this section is guilty of a misdemeanor.

2. No real estate acquired pursuant to paragraph (a) or (b) of subsection 1 may be held for a longer period than 5 years unless it has been improved by the licensee and is producing a fair income based upon the appraised value.
Nev. Rev. Stat. § 677.800 — NV Code / Title 55 / Chapter 677 / Section 677.800
Violation of provisions of chapter
Status: in_force

Any person and the members, officers, directors, agents and employees thereof who knowingly and intentionally violate or participate in the violation of any provision of this chapter are guilty of a misdemeanor, unless a greater penalty is provided in this chapter.
Nev. Rev. Stat. § 673.114 — NV Code / Title 55 / Chapter 673 / Section 673.114
Service offices: Authority to establish and maintain; notification to Commissioner required; service office does not constitute branch office
Status: in_force

1. A savings bank organized under this chapter may establish and maintain one or more service offices within or outside this State according to the needs of the savings bank.

2. A savings bank shall notify the Commissioner in writing of the location of any service office not later than 30 days after establishment of the service office.

3. A service office does not constitute a branch office and is not subject to the issuance of any license, certificate or prior approval of the Commissioner, the Department of Business and Industry or the Division of Financial Institutions before establishment.
Nev. Rev. Stat. § 671.019 — NV Code / Title 55 / Chapter 671 / Section 671.019
“USA Patriot Act” defined
Status: in_force

“ USA Patriot Act ” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56.