reglab/housing_qa huggingface dataset:
NV Rev Stat § 669.2825 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.2825 - Authority of Commissioner to take disciplinary action or initiate proceedings to seize property.

  1. The Commissioner may institute disciplinary action or forthwith initiate proceedings to take possession of the business and property of any retail trust company when it appears that the retail trust company:  (a) Has violated its charter or any state or federal laws applicable to the business of a trust company.  (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’ equity.  (e) Has refused to pay or transfer account assets to its account holders as required by the terms of the accounts’ governing instruments.  (f) Has become 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 receivers, conservators, trustees or creditors without complying with NRS 669.230.  (j) Has failed to pay a tax as required pursuant to the provisions of chapter 363A or 363C of NRS.  (k) Has materially and willfully breached its fiduciary duties to its customers.  (l) Has failed to properly disclose all fees, interest and other charges to its customers.  (m) Has willfully engaged in material conflicts of interest regarding a customer’s account.  (n) Has made intentional material misrepresentations regarding any aspect of the services performed or proposed to be performed by the retail trust company.  2. The Commissioner also may forthwith initiate proceedings to take possession of the business and property of any trust company when it appears that the officers of the trust company have refused to be examined upon oath regarding its affairs.  (Added to NRS by 2009, 1954; A 2015, 2946)
NV Rev Stat § 669.283 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.283 - Authority of Commissioner to investigate.

  1. For the purpose of discovering violations of chapters 657 to 671, inclusive, of NRS or of securing information required under this chapter, the Commissioner or the Commissioner’s duly authorized representatives may at any time investigate the business and examine the books, accounts, papers and records used therein of:  (a) Any licensee;  (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 that 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 the Commissioner’s authorized representatives must 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 the person 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.  (Added to NRS by 2009, 1953)
NV Rev Stat § 669.2845 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.2845 - Revocation of license; notice and hearing required.

If the Commissioner finds that probable cause for revocation of any license exists and that enforcement of the provisions of this chapter requires immediate suspension of a license pending investigation, the Commissioner may, upon 5 days’ written notice and a hearing, enter an order suspending a license for a period not exceeding 20 days, pending a hearing upon the revocation.  (Added to NRS by 2009, 1954)
NV Rev Stat § 669.2846 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.2846 - Authority of Commissioner to issue cease and desist order; action to enjoin by Attorney General or Commissioner; appointment of receiver.

  1. Whenever the Commissioner has reasonable cause to believe that any person is violating or is threatening to or intends to violate any provision of this chapter, the Commissioner may, in addition to all actions provided for in this chapter and without prejudice thereto, enter an order requiring the person to desist or to refrain from such violation.  2. The Attorney General or the Commissioner may bring an action to enjoin a person from engaging in or continuing a violation or from doing any act or acts in furtherance thereof. In any such action, an order or judgment may be entered awarding a preliminary or final injunction as may be deemed proper.  3. In addition to all other means provided by law for the enforcement of a restraining order or injunction, the court in which an action is brought may impound, and appoint a receiver for, the property and business of the defendant, including books, papers, documents and records pertaining thereto, or so much thereof as a court may deem reasonably necessary to prevent violations of this chapter through or by means of the use of property and business, whether such books, papers, documents and records are in the possession of the defendant, a registered agent acting on behalf of the defendant or any other person. A receiver, when appointed and qualified, has such powers and duties as to custody, collection, administration, winding up and liquidation of such property and business as may from time to time be conferred upon the receiver by the court.  4. If a receiver is appointed pursuant to subsection 3, such receiver shall remit to the owners, members or shareholders of the retail trust company any amount of equity and capital of the retail trust company remaining after discharge of the liabilities and payment of the normal, prudent and reasonable expenses of the receivership.  (Added to NRS by 2009, 1954)
NV Rev Stat § 669.2847 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.2847 - Revocation or suspension of license; notice and hearing required; administrative fines.

  1. If the Commissioner has reason to believe that grounds for revocation or suspension of a license exist, the Commissioner shall give at least 20 days’ written notice to the licensee stating the contemplated action and, in general, the grounds therefor and set a date for a hearing.  2. At the conclusion of a hearing, the Commissioner shall:  (a) Enter a written order dismissing the charges, revoking the license or suspending the license for a period of not more than 60 days, which period must include any prior temporary suspension. The Commissioner shall send a copy of the order to the licensee by registered or certified mail.  (b) Impose upon the licensee an administrative fine of not more than $10,000 for each violation by the licensee of any provision of this chapter or any regulation adopted pursuant thereto.  (c) If a fine is imposed pursuant to this section, enter such order as is necessary to recover the costs of the proceeding, including his or her investigative costs and attorney’s fees.  3. The grounds for revocation or suspension of a license are that:  (a) The licensee has failed to pay the annual license fee;  (b) The licensee, either knowingly or without any exercise of due care to prevent it, has violated any provision of this chapter or any regulation adopted pursuant thereto or any lawful order of the Division of Financial Institutions;  (c) The licensee has failed to pay a tax as required pursuant to the provisions of chapter 363A or 363C of NRS;  (d) Any fact or condition exists which would have justified the Commissioner in denying the licensee’s original application for a license pursuant to the provisions of this chapter; or  (e) The licensee:  (1) Failed to open an office for the conduct of the business authorized by his or her license within 180 days after the date the license was issued; or  (2) Has failed to remain open for the conduct of the business for a period of 30 days without good cause therefor.  4. An order suspending or revoking a license becomes effective 5 days after being entered unless the order specifies otherwise or a stay is granted.  (Added to NRS by 2009, 1955; A 2015, 2946)
NV Rev Stat § 669.285 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.285 - Confidentiality of records and documents.

Except as otherwise provided in NRS 239.0115, any application and personal or financial records submitted by a person pursuant to the provisions of this chapter and any personal or financial records or other documents obtained by the Division of Financial Institutions pursuant to an examination or audit conducted by the Division are confidential and may be disclosed only to:  1. The Division, any authorized employee of the Division and any state or federal agency investigating the activities covered under the provisions of this chapter;  2. The Department of Taxation for its use in carrying out the provisions of chapter 363C of NRS; and  3. Any person when the Commissioner, in the Commissioner’s discretion, determines that the interests of the public that would be protected by disclosure outweigh the interest of any person in the confidential information not being disclosed.  (Added to NRS by 2009, 1952; A 2015, 2947)
NV Rev Stat § 669.286 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.286 - Failure to submit required report; fees; regulations.

  1. If a trust company fails to submit any report required pursuant to this chapter or any regulation adopted pursuant thereto within the prescribed period, the Commissioner may impose and collect a fee of not more than $10 for each day the report is overdue.  2. The Commissioner shall adopt regulations establishing the amount of the fee that may be imposed pursuant to this section.  (Added to NRS by 2005, 1849)
NV Rev Stat § 669.290 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.290 - Willful neglect to perform duties imposed by law or failure to conform to material lawful requirement made by Commissioner unlawful; penalty.

Each officer, director, manager, member, employee or agent of a trust company who knowingly or willfully neglects to perform any duty required by this chapter or other applicable law, or who knowingly or willfully fails to conform to any material lawful requirement made by the Commissioner, is subject to removal upon order of the Commissioner, and is guilty of a category D felony and shall be punished as provided in NRS 193.130.  (Added to NRS by 1969, 1189; A 1983, 1763; 1987, 1947; 1995, 1317; 1999, 849)
NV Rev Stat § 669.295 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.295 - Administrative fines.

  1. In addition to any other remedy or penalty, the Commissioner may impose an administrative fine of not more than $10,000 per violation 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.  2. The maximum total fine that the Commissioner may impose on any person pursuant to this section with respect to the same or similar actions or series of actions which constitute the violations must not exceed the greater of $100,000 or 125 percent of all losses incurred by the retail trust company and its clients as the direct or indirect result of such violations.  (Added to NRS by 2005, 1849; A 2009, 1963)
NV Rev Stat § 669.300 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.300 - Violation of chapter constitutes gross misdemeanor unless otherwise specified.

Where no other punishment is otherwise provided by law, any person violating any provision of this chapter is guilty of a gross misdemeanor.  (Added to NRS by 1969, 1189)
NV Rev Stat § 669A.010 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.010 - Declaration of legislative intent.

The Legislature finds as facts and determines that:  1. There exists a need to modernize trust company laws in Nevada to make Nevada more competitive in attracting new business, for Nevada to remain competitive with a majority of other states that have modernized their laws and to ensure the safety and soundness of all trust companies licensed pursuant to the provisions of this chapter or chapter 669 of NRS.  2. Unlike the public trust companies required to be licensed pursuant to the provisions of chapter 669 of NRS, family trust companies do not engage or seek to engage in a trust company business with the public but rather serve solely the interests of members and related parties of a single family and the grantors and beneficiaries of trust instruments created for the purposes of estate planning for the family members. Consequently, there is no public interest to be protected or furthered and requiring the licensing of family trust companies will not promote the public advantage and convenience. There are, however, reasons that some family trust companies may wish to obtain state licensing and appropriate supervision under trust company law.  3. It is the purpose of this chapter to:  (a) Define those persons who are engaged in or who desire to provide fiduciary services to a single family and its related interests as a family trust company and who are not doing trust company business with the public or offering services to the general public; and  (b) Bring under public supervision only those family trust companies desiring the benefits of being licensed pursuant to the provisions of this chapter or chapter 669 of NRS.  (Added to NRS by 2009, 1136)
NV Rev Stat § 669A.020 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.020 - Definitions.

As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 669A.030 to 669A.090, inclusive, have the meanings ascribed to them in those sections.  (Added to NRS by 2009, 1137; A 2011, 1814; 2015, 1210)
NV Rev Stat § 669A.030 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.030 - "Affiliate" defined.

Affiliate means a family affiliate of any family member of the family trust company who is qualified to serve and any person controlling, controlled by or under common control with the family trust company.  (Added to NRS by 2009, 1137)
NV Rev Stat § 669A.035 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.035 - "Beneficiary" defined.

Beneficiary has the meaning ascribed to it in NRS 132.050.  (Added to NRS by 2015, 1208)
NV Rev Stat § 669A.040 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.040 - "Confidential information" defined.

Confidential information includes:  1. The names of stockholders, members or other owners;  2. Ownership information;  3. Capital contributions;  4. Addresses;  5. Business affiliations;  6. Information obtained from the family trust company;  7. Findings of the Commissioner through any examination or investigation;  8. Any information required to be reported to or filed with the Commissioner;  9. Any information that qualifies as any person’s "nonpublic personal information" under 15 U.S.C. § 6809 and the regulations adopted pursuant thereto;  10. Any information or agreement relating to any merger, consolidation or transfer;  11. Any information or agreement relating to any relationship with a contracting trustee; and  12. Any other nonpublic information that, in the judgment of the Commissioner, could be useful in connection with an act of bribery, extortion, identity theft or terrorism.  (Added to NRS by 2009, 1137)
NV Rev Stat § 669A.050 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.050 - "Designated relative" defined.

Designated relative means the common ancestor of the family, who may be either a living or deceased person. With regard to:  1. A licensed family trust company or a family trust company applying to be licensed pursuant to this chapter, the designated relative is the person who is designated in the application for a license or in the annual renewal of a license.  2. A family trust company other than a family trust company described in subsection 1, the designated relative is any person designated by the family trust company in a letter to the Commissioner sent by certified mail, return receipt requested.  (Added to NRS by 2009, 1137)
NV Rev Stat § 669A.060 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.060 - "Family affiliate" defined.

Family affiliate means a company or other entity with respect to which one or more family members or affiliates own, directly or indirectly, a material interest in the company or entity, or possess, directly or indirectly, the power to direct or cause the direction of the management and policies of that company or entity, whether through the ownership of voting securities, by contract, power of direction or otherwise.  (Added to NRS by 2009, 1137; A 2011, 1814)
NV Rev Stat § 669A.070 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.070 - "Family member" defined.

  1. "Family member" includes, without limitation, the designated relative and:  (a) Any person within the tenth degree of lineal kinship of the designated relative;  (b) Any person within the ninth degree of collateral kinship to the designated relative;  (c) Any nonfamily member who is an individual beneficiary under a will or trust created by a family member specified in paragraph (a) or (b), including the spouse and issue of that person;  (d) The spouse and any former spouse of the designated relative or of any person qualifying as a family member pursuant to paragraph (a) or (b);  (e) A person who is a relative of a spouse or former spouse specified in paragraph (c) or (d) who is within the fifth degree of lineal kinship of the spouse or former spouse;  (f) A family affiliate and the officers, managers and directors of that family affiliate and their immediate families;  (g) An inter vivos or testamentary trust established by a family member either individually or jointly with a spouse or third party and any trustee, advisor or other person assisting with administration of that trust;  (h) An inter vivos or testamentary trust established by a person who is not a family member if noncharitable beneficiaries of that trust include family members;  (i) The estate of a family member;  (j) The estate of a nonfamily member if the noncharitable beneficiaries of that estate include family members; and  (k) A charitable foundation, a charitable trust or charitable entity of which a family member is an organizer, incorporator, officer, member of the governing board, trustee, major donor or noncharitable beneficiary and the officers, directors, individual trustees and managers of that foundation, trust or entity and their immediate families.  2. For the purposes of this section:  (a) A family member is not a member of the public;  (b) A legally adopted person must be treated as a natural child of the adoptive parents;  (c) A stepchild must be treated as a natural child of the family member who is or was the stepparent of that child;  (d) Children of a spouse of a family member must be treated as a natural child of that family member; and  (e) Degrees are calculated by adding the number of steps from the designated relative through each person to the family member either directly, in the case of lineal kinship, or through the common ancestor, in the case of collateral kinship.  3. As used in this section:  (a) "Collateral kinship" means a relationship that is not lineal, but stems from a common ancestor.  (b) "Lineal kinship" means a family member who is in the direct line of ascent or descent from the designated relative.  (Added to NRS by 2009, 1137)
NV Rev Stat § 669A.080 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.080 - "Family trust company" defined.

Family trust company means a corporation or limited-liability company that:  1. Acts or proposes to act as a fiduciary;  2. Is organized or qualified to do business in this State to serve family members; and  3. Does not:  (a) Transact trust company business with;  (b) Propose to act as a fiduciary for; or  (c) Solicit trust company business from,  a person who is not a family member.  (Added to NRS by 2009, 1138)
NV Rev Stat § 669A.082 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.082 - "Fiduciary" defined.

Fiduciary means:  1. A person described in NRS 132.145;  2. A person described in NRS 163.554;  3. A directed fiduciary as provided in NRS 163.5548; and  4. A trust protector as defined in NRS 163.5547,  who may not be acting as a fiduciary under the terms of the trust instrument or will.  (Added to NRS by 2015, 1208; A 2019, 1874)
NV Rev Stat § 669A.085 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.085 - "Interested person" defined.

Interested person means a person, other than the grantor of a trust, who is:  1. A person who would be a necessary party to a judicial proceeding involving a trust; or  2. An authorized representative pursuant to NRS 164.038.  (Added to NRS by 2011, 1809)
NV Rev Stat § 669A.090 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.090 - "Licensed family trust company" defined.

Licensed family trust company means a trust company licensed pursuant to this chapter.  (Added to NRS by 2009, 1138)
NV Rev Stat § 669A.094 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.094 - Liberal construction of chapter.

The rule that statutes in derogation of the common law are to be strictly construed has no application to this chapter. This chapter must be liberally construed to give maximum effect to the principle of freedom of disposition and to the enforceability of trust instruments. This chapter will control over any contrary provisions of law.  (Added to NRS by 2015, 1209)
NV Rev Stat § 669A.095 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.095 - Applicability of chapter.

Except as otherwise provided in this chapter or by specific statute, a family trust company or licensed family trust company is subject to the provisions of this chapter only to the extent that the family trust company or licensed family trust company is engaged in the business of a family trust company or licensed family trust company, respectively.  (Added to NRS by 2011, 1809)
NV Rev Stat § 669A.097 (2021)
2021 Nevada Revised Statutes|Chapter 669A - Family Trust Companies|NRS 669A.097 - Applicability of other provisions of NRS.

  1. Except as otherwise specified in the trust or in this chapter, a family trust company or licensed family trust company shall comply with the provisions of NRS 165.147.  2. Any fiduciary duties required pursuant to title 12 or 13 of NRS after October 1, 2015, apply only to a trust or estate administered by a family trust company or licensed family trust company in this State which was created, commenced or became irrevocable after the enactment of such duties. Such duties shall only apply to the extent that they are not inconsistent or contrary with any provision of this chapter or any terms of the trust.  (Added to NRS by 2015, 1209)