reglab/housing_qa huggingface dataset:
NV Rev Stat § 669.130 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.130 - Unlawful for retail trust company to commence business without authorization of Commissioner.

A retail trust company shall not transact business, except business that is incidental to its organization, until it is authorized by the Commissioner to commence the business of a trust company as provided in this chapter.  (Added to NRS by 1969, 1185; A 1983, 1759; 1987, 1944; 1997, 1007; 1999, 845; 2009, 1958)
NV Rev Stat § 669.150 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.150 - Application for license: Contents; fees; regulations; withdrawal of application.

  1. An applicant must file an application for a license to transact trust company business with the Commissioner on forms prescribed by the Commissioner, which must contain or be accompanied by such information as the Commissioner requires.  2. A nonrefundable fee of not more than $2,000 must accompany the application. The applicant must also pay such reasonable additional expenses incurred in the process of investigation as the Commissioner deems necessary. In addition, a fee of not less than $200 or more than $500, prorated on the basis of the licensing year as provided by the Commissioner, must be paid at the time of making the application.  3. Except as otherwise provided in NRS 669.092, a trust company may maintain offices in this and other states. For every branch location of a trust company organized under the laws of this State, and every branch location in this State of a trust company organized under the laws of another state and authorized to do business in this State, a request for approval and, if applicable, licensing must be filed with the Commissioner on such forms as the Commissioner prescribes. A nonrefundable fee of not more than $500 must accompany each request. In addition, a fee of not more than $200, prorated on the basis of the licensing year as provided by the Commissioner, must be paid at the time of making the request.  4. The Commissioner shall adopt regulations establishing the amount of the fees required pursuant to this section. All money received by the Commissioner pursuant to this section must be placed in the Investigative Account for Financial Institutions created by NRS 232.545.  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 The Commissioner shall consider an application to be withdrawn if the Commissioner has not received all information and fees required to complete the application within 12 months after the date the application is first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 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.  (Added to NRS by 1969, 1186; A 1983, 1317, 1760; 1987, 1944; 1991, 1809; 1999, 845; 2005, 1849; 2009, 1958; 2017, 560)
NV Rev Stat § 669.190 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.190 - Payment of license fees; regulations; deposit in State Treasury.

  1. The initial fee to be paid for a retail trust company license must not be more than $3,000.  2. In addition, every retail trust company must pay an initial license fee of not more than $500 for each branch office that is authorized by the Commissioner.  3. Thereafter, every retail trust company must pay annually on or before April 1 of each year a license fee of not more than $3,000.  4. The Commissioner shall adopt regulations establishing the amount of the fees required pursuant to this section. All money collected under the provisions of this section must be deposited in the State Treasury pursuant to the provisions of NRS 658.091.  (Added to NRS by 1969, 1187; A 1983, 1317, 1761; 1987, 1945; 1997, 1008; 2003, 3227; 2005, 1851; 2009, 1960)
NV Rev Stat § 669.200 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.200 - Cancellation of license if retail trust company fails to open for business or maintain regular business hours.

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.  (Added to NRS by 1969, 1187; A 1983, 1761; 1987, 1946; 2009, 1960)
NV Rev Stat § 669.201 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.201 - Definitions.

As used in NRS 669.201 to 669.209, inclusive, unless the context otherwise requires, the words and terms defined in NRS 669.2015 to 669.204, inclusive, have the meanings ascribed to them in those sections.  (Added to NRS by 2017, 553)
NV Rev Stat § 669.2015 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.2015 - "Federal banking regulator" defined.

Federal banking regulator means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency or the Federal Deposit Insurance Corporation.  (Added to NRS by 2017, 553)
NV Rev Stat § 669.202 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.202 - "Foreign independent trust company" defined.

Foreign independent trust company means a trust company licensed under the laws of a state other than Nevada and not subject to regulation, supervision and examination by a federal banking regulator.  (Added to NRS by 2017, 553)
NV Rev Stat § 669.203 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.203 - "Foreign trust company" defined.

Foreign trust company means a trust company licensed under the laws of a state other than Nevada and subject to regulation, supervision and examination by a state banking regulator and at least one federal banking regulator.  (Added to NRS by 2017, 553)
NV Rev Stat § 669.204 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.204 - "Home state" defined.

Home state means the state in which a foreign independent trust company or foreign trust company is licensed or chartered and maintains its principal place of business.  (Added to NRS by 2017, 553)
NV Rev Stat § 669.207 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.207 - Authorization of foreign trust company to act as fiduciary and solicit trust company business in this State; requirements.

  1. In addition to the authority provided in NRS 662.245 and 669.209, a foreign trust company may act as a fiduciary in this State, whether the appointment is by will, deed, court order or otherwise, without complying with the laws of this State relating to the qualification of corporations or limited-liability companies organized under the laws of this State to conduct trust company business or laws relating to the qualification of foreign corporations or foreign limited-liability companies if:  (a) The foreign trust company is authorized by the laws of the state of its organization or domicile to act as a fiduciary in that state;   (b) The foreign trust company is a subsidiary of a bank, savings association, bank holding company or savings and loan holding company subject to the supervision of a federal banking regulator; and   (c) A trust company organized under the laws of this State, a national banking association having its main office in this State and a federal savings and loan association or federal savings bank having its main office in this State and authorized to act as a fiduciary in this State may, in such other state, act in a similar fiduciary capacity or capacities, as applicable, upon conditions and qualifications which the Commissioner finds are not unduly restrictive compared to those imposed by the laws of this State.  2. In addition to the authority provided in NRS 669.205, a foreign trust company may engage in the solicitation of trust company business in this State, regardless of whether the foreign trust company has a physical location in this State, without complying with the laws of this State relating to the qualification of corporations or limited-liability companies organized under the laws of this State to conduct trust company business or laws relating to the qualification of foreign corporations or foreign limited-liability companies if:  (a) The foreign trust company is authorized by the laws of the state of its organization or domicile to solicit trust company business in that state;  (b) The foreign trust company is a subsidiary of a bank, savings association, bank holding company or savings and loan holding company subject to the supervision of a federal banking regulator; and  (c) A trust company organized under the laws of this State, a national banking association having its main office in this State and a federal savings and loan association or federal savings bank having its main office in this State and authorized to engage in the solicitation of trust company business in this State may, in such other state, similarly engage in the solicitation of trust company business upon conditions and qualifications which the Commissioner finds are not unduly restrictive compared to those imposed by the laws of this State.  (Added to NRS by 2017, 556)
NV Rev Stat § 669.208 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.208 - Appointment of Commissioner as agent for service of process; procedure for service of process; continuances; taxable costs; records.

  1. A foreign trust company acting in this State in a fiduciary capacity or engaging in this State in the solicitation of trust company business pursuant to NRS 669.207 shall be deemed to have appointed the Commissioner as the agent of the foreign trust company for service of process in any action or proceeding against the foreign trust company that relates to or arises out of any matter in which the foreign trust company has:  (a) Acted or is acting in this State in a fiduciary capacity; or  (b) Engaged or is engaging in this State in solicitation of trust company business.  2. The commission of or engagement in this State in any act described in paragraph (a) or (b) of subsection 1 by a foreign trust company is deemed to signify the agreement of the foreign trust company that any legal process served upon the Commissioner pursuant to subsection 1 is of the same legal force and validity as if the legal process were served directly upon the foreign trust company.  3. Service of legal process pursuant to subsection 1 must be made by delivering to the Commissioner a copy of the legal process and paying the fee for service of process prescribed by the Commissioner. Such service shall be sufficient service of process upon a foreign trust company if:   (a) Notice of such service and a copy of the process are, within 10 days after delivery to the Commissioner, sent by certified mail by the plaintiff to the principal office of the foreign trust company named in the action or proceeding in the state or territory in which it is located; and  (b) An affidavit of compliance with paragraph (a) by the plaintiff is appended to the summons.  4. A court in which an action or proceeding pursuant to this section is pending may order such continuances as may be necessary to afford the foreign trust company named in the action or proceeding reasonable opportunity to defend the action.  5. The fee paid pursuant to subsection 3 by a plaintiff to the Commissioner at the time of the service of process may be recovered as taxable costs by the plaintiff from the defendant if the plaintiff prevails in the action.  6. The Commissioner shall keep a record of each legal process served on the Commissioner pursuant to this section which contains the date and time of each such service of process.  (Added to NRS by 2017, 557)
NV Rev Stat § 669.210 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.210 - Powers of retail trust companies; banking business prohibited.

  1. Each retail trust company may, in the conduct of its trust business, within and outside this State, subject to NRS 669.092, as applicable:  (a) Act as indenture trustee or as trustee under any mortgage or bond of any person or of any municipality or body politic.  (b) Accept and execute any municipal or corporate or individual trust not inconsistent with the laws of this State.  (c) Act under the order or appointment of any court as guardian, administrator, receiver or trustee.  (d) Act as executor or trustee under any will.  (e) Act as fiscal or transfer agent of any state, municipality, body politic or corporation, and in such capacity receive and disburse money and register, transfer and countersign certificates of stock, bonds and other evidences of indebtedness.  (f) Act as a registered agent of foreign corporations.  (g) Accept and execute any trust business permitted by any law.  (h) Acquire the fiduciary rights, powers, duties and liabilities of a bank, savings and loan association, savings bank, thrift company, trust company or credit union licensed pursuant to this title, and upon the effective date of such an acquisition, the fiduciary rights, powers, duties and liabilities of the bank, savings and loan association, savings bank, thrift company, trust company or credit union vest in and must be performed by the acquiring trust company.  (i) Act as an agent, advisory agent, assignee, attorney-in-fact, authenticating agent, bailee, bond or indenture trustee, conversion agent, curator, custodian, escrow agent, exchange agent, fiscal or paying agent, financial adviser, investment adviser, investment manager, managing agent, purchase agent, registrar, safekeeping agent, subscription agent, warrant agent or in similar capacities generally performed by corporate trustees, and in so acting, may possess, purchase, sell, invest, reinvest, safekeep or otherwise manage or administer real or personal property of other persons.  (j) Exercise the powers of a business corporation or limited-liability company organized or qualified as a foreign corporation or limited-liability company under Nevada law and any incidental powers that are reasonably necessary to enable it to fully exercise, in accordance with commonly accepted customs and usages, a power conferred in this chapter.  (k) Do and perform all acts necessary to exercise the powers enumerated in this subsection and authorized by this chapter and any other applicable laws of this State.  2. A retail trust company may not engage in any banking business by accepting deposits or making loans.  (Added to NRS by 1969, 1187; A 1989, 2033; 2007, 2725; 2009, 1960)
NV Rev Stat § 669.230 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.230 - Discontinuing business.

Whenever any trust company desires to discontinue its trust business, it shall furnish to the Commissioner satisfactory evidence of its release and discharge from all the obligations and trusts which it has assumed or which have been imposed by law. Thereafter, the Commissioner shall enter an order cancelling the trust company’s license.  (Added to NRS by 1969, 1188; A 1983, 1761; 1987, 1946)
NV Rev Stat § 669.240 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.240 - Fidelity bonds; insurance.

  1. The directors or managers of a trust company shall require good and sufficient fidelity bonds in the amount of $25,000 or more on all active officers, managers, members acting in a managerial capacity and employees, whether or not they receive a salary or other compensation from the trust company, to indemnify the trust company against loss because of any dishonest, fraudulent or criminal act or omission by any of the persons bonded acting alone or in combination with any other person. The bonds may be in any form and may be paid for by the trust company.  2. The trust company shall obtain suitable insurance against burglary, robbery, theft and other hazards to which it may be exposed in the operation of its business.  3. The trust company shall at least annually prescribe the amount or penal sum of the bonds or policies and designate the sureties and underwriters thereof, after giving due and careful consideration to all known elements and factors constituting a risk or hazard. The action must be recorded in the minutes of the trust company and reported to the Commissioner.  (Added to NRS by 1969, 1188; A 1983, 300, 1762; 1987, 1946; 1999, 848)
NV Rev Stat § 669.245 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.245 - Commissioner authorized to be signatory.

The Commissioner is authorized to be, on his or her own behalf and that of the Division of Financial Institutions, a signatory to the Nationwide Cooperative Agreement for Supervision and Examination of Multi-State Trust Institutions as adopted by the Conference of State Bank Supervisors and exercise his or her discretion in the supervision of multi-state trust institutions consistently with that agreement.  (Added to NRS by 2009, 1952)
NV Rev Stat § 669.250 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.250 - Fees for examination; frequency of examination.

  1. For each examination of a trust company’s books and records required or authorized under this chapter, the Commissioner shall charge and collect from the trust company a fee for conducting the examination and in preparing and typing the report of the examination at the rate established and, if applicable, adjusted pursuant to NRS 658.101.  2. All money collected under this section must be deposited in the State Treasury pursuant to the provisions of NRS 658.091.  3. The Commissioner shall examine a licensee as often as the Commissioner deems necessary.  (Added to NRS by 1969, 1188; A 1983, 1318, 1762; 1987, 1946, 2223; 2003, 3228; 2017, 398)
NV Rev Stat § 669.260 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.260 - Applicability of other provisions of certain chapters.

In addition to other provisions of chapters 657 to 671, inclusive, of NRS which are applicable to chapters 657 to 671, inclusive, of NRS as a whole or specifically made applicable to trust companies, the Commissioner may by regulation make applicable to trust companies any regulatory provision contained in chapters 657 to 667, inclusive, of NRS which can be reasonably applied and which are not inconsistent with the provisions of this chapter.  (Added to NRS by 1969, 1189; A 1983, 1762; 1987, 1947)
NV Rev Stat § 669.270 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.270 - Regulations of Commissioner.

The Commissioner may adopt such regulations as may be necessary to carry out the purposes and provisions of this chapter.  (Added to NRS by 1969, 1189; A 1983, 1762; 1987, 1947)
NV Rev Stat § 669.275 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.275 - Commissioner authorized to require audited financial statement; submission of list of stockholders or members.

  1. The Commissioner may require a licensee to provide an audited financial statement prepared by an independent certified public accountant licensed to do business in this State.  2. On the fourth Monday in January of each year, each licensee shall submit to the Commissioner a list of stockholders required to be maintained pursuant to paragraph (c) of subsection 1 of NRS 78.105 or the list of members required to be maintained pursuant to paragraph (a) of subsection 1 of NRS 86.241, verified by the president or a manager, as appropriate.  3. The list of members required to be maintained pursuant to paragraph (a) of subsection 1 of NRS 86.241 must include the percentage of each member’s interest in the company, in addition to the requirements set forth in that section.  4. Except as otherwise provided in NRS 239.0115, any document submitted pursuant to this section is confidential. This subsection does not limit the examination of any document by the Department of Taxation if necessary to carry out the provisions of chapter 363C of NRS.  (Added to NRS by 2009, 1952; A 2015, 2945)
NV Rev Stat § 669.280 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.280 - Authority of Commissioner to take disciplinary action and to close and liquidate business.

  1. The violation of any of the provisions of this chapter by the officers or directors, or the managers or members acting in a managerial capacity, of any trust company is sufficient cause for the Commissioner to close the trust company, liquidate its business and revoke its license.  2. If a trust company or any person authorized to act on the behalf of the trust company refuses to allow the Commissioner or the Commissioner’s deputies to inspect all books, records, papers and effects of the business of the trust company, the Commissioner may revoke its license and proceed to wind up the affairs of the trust company.  (Added to NRS by 1969, 1189; A 1983, 1762; 1987, 1947; 1999, 849)
NV Rev Stat § 669.281 (2021)
2021 Nevada Revised Statutes|Chapter 669 - Trust Companies|NRS 669.281 - Authority of Commissioner to remove officer, director, manager or employee of retail trust company; appeal of removal; hearing; judicial review.

  1. The Commissioner may require the immediate removal from office of any officer, director, manager or employee of any retail trust company doing business under this chapter who is found to be dishonest, incompetent or reckless in the management of the affairs of the retail trust company, or who persistently violates the laws of this State or the lawful orders, instructions and regulations issued by the Commissioner.  2. An officer, director, manager or employee of a retail trust company who is removed from office pursuant to subsection 1 may appeal his or her removal by filing a written request for a hearing with the Commissioner within 10 days after the effective date of his or her removal. The Commissioner shall conduct the hearing after providing at least 5 days’ written notice to the retail trust company and the officer, director, manager or employee who is removed from office. Within 5 days after the hearing, the Commissioner shall enter an order affirming or disaffirming the removal of the person from office. An order of the Commissioner entered pursuant to this subsection is final for the purposes of judicial review.  (Added to NRS by 2009, 1954; A 2011, 2595)