reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.320 - Authority of Commissioner.

1. The Commissioner has all of the powers granted to the Commissioner by the laws of this state to the same extent and in the same manner as if a state branch, agency or representative office were a Nevada bank.
2. If, after notice and a hearing, the Commissioner finds that any person has violated any provision of this chapter or of any regulation or order issued under this chapter, the Commissioner may, in addition to any other remedy or action available to the Commissioner under the laws of this state, order the violator to pay to the Commissioner a civil penalty in such a manner and in such an amount as the Commissioner determines by regulation, consistent with the penalties provided for Nevada banks.
3. To carry out the purposes of this chapter, the Commissioner may:
(a) Enter into cooperative, coordinating or information-sharing agreements with any other bank supervisory agency or any organization affiliated with or representing one or more bank supervisory agencies;
(b) With respect to periodic examination or other supervision of a foreign bank that maintains a state branch, agency or representative office, accept reports of examinations performed by, and reports submitted to, other bank supervisory agencies in lieu of conducting examinations, or of receiving reports, as might otherwise be required under this chapter; and
(c) Enter into joint examinations or joint enforcement actions with any other bank or supervisory agency having concurrent jurisdiction over any foreign bank, but the Commissioner may at any time take any such actions independently if the Commissioner determines that such actions are necessary or appropriate to carry out the Commissioner’s responsibilities under this chapter and to ensure compliance with the laws of this state.
(Added to NRS by 1995, 1543)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.330 - Examinations by Commissioner; fee for examinations.

1. A state branch, agency or representative office is subject to examination by the Commissioner to the same extent and in the same manner as if the state branch, agency or representative office were a Nevada bank.
2. In conducting an examination pursuant to this section, the Commissioner:
(a) Is entitled to full access to the offices, books, accounts, papers, records, files, safes and vaults of each office; and
(b) May require the attendance of and examine under oath all persons whose testimony may be required relative to the activities of the office.
3. A foreign bank which is licensed to establish and maintain a state branch, agency or representative office shall pay a fee for conducting the examination and the expenses of preparing and typing the report of the examination at the rate established and, if applicable, adjusted pursuant to NRS 658.101.
(Added to NRS by 1995, 1543; A 2017, 398)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.340 - Filing of reports with Commissioner.

1. Each foreign bank which is licensed to establish and maintain a state branch, agency or representative office shall file with the Commissioner such reports, at such times, as the Commissioner may by regulation require.
2. Each report filed with the Commissioner under this chapter or under any regulation adopted under this chapter must be in such form and contain such information, be signed in such manner and be verified in such manner as the Commissioner may require.
(Added to NRS by 1995, 1544)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.350 - State branch or agency: Authority and grounds for suspension or revocation of license.

If, after notice and a hearing, the Commissioner finds any of the following with respect to a foreign bank which is licensed to establish and maintain a state branch or agency, the Commissioner may issue an order suspending or revoking the license of the foreign bank:
1. The foreign bank has violated any provision of this chapter or of any regulation or order issued under this chapter or any provision of any other applicable law, regulation or order;
2. The foreign bank is transacting activities in this state or elsewhere in an unsafe or unsound manner;
3. The foreign bank or any of its state branches or agencies is in an unsafe or unsound condition;
4. The foreign bank has ceased to operate any of its offices in this state without the prior approval of the Commissioner in accordance with this chapter;
5. The foreign bank is insolvent in that it has ceased to pay its debts in the ordinary course of business, it cannot pay its debts as they become due or its liabilities exceed its assets;
6. The foreign bank has suspended payment of its obligations, has made an assignment for the benefit of its creditors or has admitted in writing its inability to pay its debts as they become due;
7. The foreign bank has applied for an adjudication of bankruptcy, reorganization, arrangement or other relief under any foreign or domestic law on bankruptcy, reorganization, insolvency or moratorium, or any person has applied for any such relief under such a law against the foreign bank and the foreign bank has by any affirmative act approved of or consented to the action or the relief has been granted;
8. A receiver, liquidator or conservator has been appointed for the foreign bank or any proceeding for such an appointment or any similar proceeding has been initiated in the country of the foreign bank’s organization;
9. The existence of the foreign bank or the authority of the foreign bank to transact banking business under the laws of the country of the foreign bank’s organization has been suspended or terminated; or
10. Any fact or condition exists which, if it had existed at the time when the foreign bank applied for its license to transact business in this state, would have been a ground for denying the application.
(Added to NRS by 1995, 1546)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.360 - State branch or agency: Immediate suspension or revocation of license.

1. If the Commissioner finds that any of the factors set forth in NRS 666A.350 are true with respect to any foreign bank which is licensed to maintain a state branch or agency and that it is necessary for the protection of the interests of creditors of the foreign bank’s business in this state or, in any case, for the protection of the public interest that the Commissioner immediately suspend or revoke the license of the foreign bank, the Commissioner may issue an order suspending or revoking the license of the foreign bank.
2. Within 30 days after an order is issued pursuant to subsection 1, the foreign bank to which the order is issued may file with the Commissioner a request for a hearing on the order. If the Commissioner fails to commence the hearing within 15 business days after the request is filed with the Commissioner, or within such longer period as the foreign bank consents to, the order shall be deemed rescinded. Within 30 days after the hearing, the Commissioner shall affirm, modify or rescind the order. Otherwise, the order shall be deemed rescinded.
3. The right of any foreign bank to which an order is issued pursuant to subsection 1 to petition for judicial review of the order is not affected by the failure of the foreign bank to petition the commissioner for a hearing on the order pursuant to subsection 2.
(Added to NRS by 1995, 1547)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.380 - State representative office: Revocation of license.

The Commissioner, after notice and opportunity for a hearing, may revoke a license to establish and maintain a state representative office if the Commissioner finds that:
1. The foreign bank has violated any provision of this chapter or any other law or regulation of this state; or
2. Any fact or condition exists which, if it had existed at the time of the foreign bank’s original application for the license, would have been a ground for refusing to issue the license.
(Added to NRS by 1995, 1541)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.390 - Service of processes, notices and demands.

1. In the case of a foreign bank which is licensed to establish and maintain a state branch or agency, service of process in any suit, action or proceeding or service of any notice or demand required or permitted by law to be served on a foreign corporation may be made on the foreign bank by service thereof on the registered agent of the foreign bank in this state. If a foreign bank fails to appoint or maintain a registered agent upon whom service of legal process or service of any such notice or demand may be had, or if the registered agent cannot with reasonable diligence be found at the registered office of the foreign bank, or if the license of the foreign bank’s state branch or agency is revoked, the Commissioner by operation of law is irrevocably authorized as the agent of the foreign bank to accept service of any process or service of any notice or demand required or permitted by law to be served on the foreign bank.
2. In the case of a foreign bank which is licensed to establish and maintain a state representative office, service of process in any suit, action or proceeding or service of any notice or demand required or permitted by law to be served on a foreign corporation may be made on the foreign bank by service thereof on the Commissioner.
3. Service on the Commissioner in accordance with this section of any process, notice or demand against a foreign bank must be made by delivering to and leaving with the Commissioner, or with any official having charge of the Commissioner’s office, duplicate copies of the process, notice or demand. If any process, notice or demand is served on the Commissioner, the Commissioner shall immediately cause a copy thereof to be forwarded by certified mail addressed to the foreign bank at its principal office as the address appears in the Commissioner’s records. Any service so had on the Commissioner is returnable in not less than 30 days.
4. This chapter does not limit or affect the right to serve any process, notice or demand required or permitted by law to be served upon a foreign corporation in any other manner permitted by law.
5. The Commissioner shall keep a record of all processes, notices and demands served upon the Commissioner under this section and shall record therein the time of service and the Commissioner’s action with reference thereto.
(Added to NRS by 1995, 1542)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.400 - Establishment of interstate branches in this State.

1. Except as otherwise provided in subsection 2, an out-of-state foreign bank may establish an interstate Nevada branch in the same manner, including by merger or other transaction under section 44 of the Federal Deposit Insurance Act and comparable provisions of the laws of this State, with Nevada banks or other institutions, as, and subject to the same criteria, standards, conditions, requirements and procedures applicable to the establishment of interstate branches in this State by, an out-of-state bank having the same home state in the United States.
2. The Commissioner:
(a) Shall apply to the establishment of an initial interstate branch, and subsequent intrastate state branches, of any out-of-state foreign bank the same criteria, standards, conditions, requirements and procedures applicable under this chapter or regulations adopted thereunder to the establishment of an initial state branch, and of subsequent intrastate Nevada branches, respectively by other foreign banks;
(b) May apply any other criterion, standard, condition, requirement or provision of the laws or regulations of this State that the Commissioner determines to be substantially equivalent to or consistent with a criterion, standard, condition, requirement or provision of federal law or regulation generally applicable to the establishment of branches in the United States by foreign banks or specifically applicable to the establishment of a branch in the United States by the applicant foreign bank; and
(c) May by regulation allow an out-of-state foreign bank:
(1) To acquire or merge with another foreign bank maintaining a state branch or agency and thereafter continue such operations as its own; and
(2) To acquire or establish an interstate Nevada branch through any other means not inconsistent with section 5 of the federal International Banking Act (12 U.S.C. § 3103).
3. As used in this section, the words and terms defined in NRS 666.006 and 666.008 have the meanings ascribed to them in those sections.
(Added to NRS by 1995, 1548)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.015 - Procedure; applicable law; power to sell and transfer assets.

1. Except as otherwise provided in this section, a bank may go into voluntary liquidation pursuant to the provisions of NRS 78.580 or 86.491.
2. If the voluntary liquidation of the bank results from a vote or agreement of the stockholders or members of the bank, a certified copy of all proceedings of the meeting at which that action is taken, verified by the oath of the president or a manager, must be transmitted to the Commissioner for the Commissioner’s approval. If the Commissioner approves the liquidation, the Commissioner shall issue to the bank, under the Commissioner’s seal, a permit for that purpose. No permit may be issued by the Commissioner until the Commissioner is satisfied that provision has been made by the bank to satisfy and pay off all depositors and all creditors of the bank. If the Commissioner is not satisfied, the Commissioner shall not issue a permit, but the Commissioner may take possession of the bank, its assets and business, and liquidate the bank in the manner provided by this chapter.
3. When the Commissioner approves the voluntary liquidation of a bank pursuant to subsection 2, the directors or managers of the bank shall cause to be published, in a newspaper in the city, town or county in which the bank is located, a notice that the bank is closing its affairs and going into liquidation, and that its depositors and creditors are to present their claims for payment.
4. When any bank is in the process of voluntary liquidation, it is subject to examination by the Commissioner, and the bank shall furnish such reports, from time to time, as may be called for by the Commissioner.
5. All unclaimed deposits and dividends remaining in the hands of the bank are subject to the provisions of this chapter.
6. Any bank that is in the process of voluntary liquidation may sell and transfer to any other state or national bank all or any portion of its assets of every kind upon such terms as may be agreed upon and approved by the Commissioner and by a majority vote of the bank’s board of directors or of its managers. A certified copy of the minutes of any meeting at which that action is taken, under the oath of the president or a manager, and a copy of the contract of sale and transfer must be filed with the Commissioner.
7. If a voluntary liquidation or the sale and transfer of the assets of any bank is approved by the Commissioner, a certified copy of that approval under seal of the Commissioner, filed in the Office of the Secretary of State, authorizes the cancellation of the articles of incorporation or organization of the bank, subject to its continued existence, as provided by law.
(Added to NRS by 1971, 1001; A 1983, 1753; 1987, 1938; 1995, 494; 1997, 1004)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.035 - Federal Deposit Insurance Corporation may act as receiver or liquidator of closed bank having insured deposits; no bond required.

1. The Federal Deposit Insurance Corporation created by the Federal Deposit Insurance Act, 12 U.S.C. § 1811, may act without bond as receiver or liquidator of any state bank which:
(a) Has been closed because of inability to meet the demands of its depositors; or
(b) Is insured by the Federal Deposit Insurance Corporation and has been taken possession of by the Commissioner pursuant to NRS 658.151.
2. The appropriate state authority having the right to appoint a receiver or liquidator of a state bank may, upon such closing, tender to the Federal Deposit Insurance Corporation the appointment as receiver or liquidator of such bank. If the Federal Deposit Insurance Corporation accepts the appointment, it shall have and possess all the powers and privileges provided by the laws of this state with respect to a receiver or liquidator, respectively, of a state bank, its depositors and other creditors, and shall be subject to all the duties of such receiver or liquidator, except insofar as such powers, privileges or duties are in conflict with the provisions of the Federal Deposit Insurance Act.
(Added to NRS by 1971, 1002; A 2009, 1831)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.045 - Acceptance of appointment as receiver or liquidator; possession of and title to assets, business and property vests in Federal Deposit Insurance Corporation.

Upon the acceptance of the appointment as receiver or liquidator by the Federal Deposit Insurance Corporation, the possession of and title to all the assets, business and property of such bank of every kind and nature shall pass to and vest in the Federal Deposit Insurance Corporation without the execution of any instruments of conveyance, assignment, transfer or endorsement.
(Added to NRS by 1971, 1002)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.055 - Enforcement of individual liability of stockholders or members and directors or managers of closed bank.

Among its other powers, the Federal Deposit Insurance Corporation, in the performance of its powers and duties as receiver or liquidator, may, upon the order of a court of record of competent jurisdiction, enforce the individual liability of the stockholders or members and directors or managers of any such bank.
(Added to NRS by 1971, 1002; A 1995, 495)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.065 - Payment of insured deposits; subrogation.

1. When any state bank has been closed as provided in NRS 667.035, and the Federal Deposit Insurance Corporation pays, or makes available for payment, the insured deposit liabilities of such closed bank, the Federal Deposit Insurance Corporation, whether or not it has become receiver or liquidator of such closed bank, shall be subrogated to all rights against such closed bank of the owners of such deposits in the same manner and to the same extent as subrogation of the Federal Deposit Insurance Corporation is provided for in the Federal Deposit Insurance Act in the case of the closing of a national bank.
2. The rights of depositors and other creditors of such closed bank shall be determined in accordance with the applicable provisions of the laws of this state.
(Added to NRS by 1971, 1002)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.075 - Loans to closed banks by Federal Deposit Insurance Corporation; sale of assets to it.

1. Any state bank which is, or may hereafter be, closed on account of inability to meet the demands of its depositors, by action of the Commissioner, by action of a court, by action of its directors or due to its insolvency or suspension, the Commissioner, or the receiver or liquidator of the bank with the permission of the Commissioner, may borrow from the Federal Deposit Insurance Corporation and furnish any part or all of the assets of the bank to the Federal Deposit Insurance Corporation as security for a loan from it; but where the Federal Deposit Insurance Corporation is acting as the receiver or liquidator, the order of a court of record of competent jurisdiction must be first obtained approving the loan.
2. The Commissioner, or the receiver or liquidator of any state bank with the permission of the Commissioner, upon the order of a court of record of competent jurisdiction, may sell to the Federal Deposit Insurance Corporation any part or all of the assets of the bank.
3. The provisions of this section do not limit the power of any bank, the Commissioner, receivers or liquidators to pledge or sell assets in accordance with any other existing law.
(Added to NRS by 1971, 1003; A 1983, 1754; 1987, 1939)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.085 - Commissioner to furnish copies of examinations and reports to Federal Deposit Insurance Corporation.

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, 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.
(Added to NRS by 1971, 1003; A 1983, 1755; 1987, 1940)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.095 - Deposit of books, papers and records with Commissioner upon final liquidation.

All books, papers and records of a bank which has been finally liquidated must be deposited by the receiver in the Office of the Commissioner.
(Added to NRS by 1971, 1003; A 1983, 1755; 1987, 1940; 1997, 1005)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.105 - Destruction of records of liquidated insolvent banks.

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 bank, the Commissioner, with the consent of the State Board of Finance, may destroy the records of any insolvent bank held in the Office of the Commissioner in connection with the liquidation of the bank.
2. If there are any unpaid dividends of the insolvent bank, the Commissioner shall preserve the deposit ledger or other evidence of indebtedness of the 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 bank.
(Added to NRS by 1971, 1003; A 1983, 1755; 1987, 1940; 1997, 1005)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.115 - Termination of trusteeship under security instruments upon insolvency; appointment of successor trustee by petition to district court or pursuant to security instrument.

1. Except as otherwise provided in subsection 2, if any bank created under the laws of this state 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 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 667.125 to 667.185, inclusive.
2. If an indenture, deed of trust or other instrument of like character that appoints a bank as trustee pursuant to subsection 1 includes a provision which provides for the appointment of a successor trustee if the bank is taken over for liquidation, the powers and duties of the 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 667.125 to 667.185, inclusive.
(Added to NRS by 1971, 1004; A 1983, 1756; 1987, 1941; 1997, 1005)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.125 - Petition for appointment of successor trustee by district court: Order directing service of notice.

In all cases to which subsection 1 of NRS 667.115 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.
(Added to NRS by 1971, 1004; A 1997, 1006)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.135 - Petition for appointment of successor trustee: Publication and contents of notice.

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.
(Added to NRS by 1971, 1004)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.145 - Appointment of successor trustee when no objection made.

If, upon the day fixed in the order and notice, no person appears and objects to the appointment of a substitute trustee, the district court shall, upon such terms as it deems advisable to serve the best interest of all interested parties, appoint some competent person, or corporation authorized to act as a trustee, as a substitute trustee. Such appointed trustee shall be vested with and shall exercise all the powers conferred upon the trustee named in the instrument.
(Added to NRS by 1971, 1004)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.155 - Hearing on objections to appointment of successor trustee; appeal from order.

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.
(Added to NRS by 1971, 1005)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.165 - Recordation of order appointing successor trustee.

The final order of appointment of any such new trustee upon its entry shall be recorded in the office of the county recorder in the county or counties in which the instrument under which such appointment has been made is recorded, and a minute of the same shall be entered by the county recorder on the margin of the record where the original instrument is recorded.
(Added to NRS by 1971, 1005)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.175 - Petition and order may relate to all instruments in which former trustee was named.

The petition and the order appointing such new trustee may include, relate to and apply to any number of indentures, deeds of trust or other instruments, wherein the same trustee is named.
(Added to NRS by 1971, 1005)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.195 - Validation of sales by liquidator under security instruments giving power of sale.

If the Commissioner, the Federal Deposit Insurance Corporation or any liquidating agent appointed pursuant to the provisions of NRS 667.035 to 667.085, inclusive, exercises the power of sale set up in any mortgage, deed of trust or other written instrument for the security of the payment of money in which any bank then in liquidation was named trustee, the exercise of the power of sale and the acts of resigning the trust, of the Commissioner, the Federal Deposit Insurance Corporation or the appointed liquidating agent have the same effect as if done by the bank named as trustee in the mortgage, deed of trust or other instrument.
(Added to NRS by 1971, 1005; A 1983, 1756; 1987; 1941)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.205 - Report of banks under liquidation: Contents; filing with Secretary of State; publication.

1. The Commissioner shall, on January 1 and July 1 of each year, file with the Secretary of State a report showing all banks under liquidation in the State of Nevada, the names of all auditors together with the amounts paid to them for auditing each of those banks, and the names of all attorneys employed in connection with the liquidation of those banks together with the amount paid or contracted to be paid to each of the attorneys. If any attorney has been employed on a fee contingent upon recovery, the report must contain in substance the contract.
2. Within 5 days after the receipt of the report, the Secretary of State shall publish the report one time in some newspaper published in each county in which a bank is under liquidation. If there is no newspaper published in the county, the Secretary of State shall post a copy of the report at the courthouse door in the county.
(Added to NRS by 1971, 1005; A 1983, 1756; 1987, 1941)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.215 - Conditions under which banks may reopen.

When the Commissioner or the Federal Deposit Insurance Corporation has taken possession of any bank, the bank may, with the consent of the Commissioner, resume business upon such terms and conditions as may be approved by the Commissioner and the Federal Deposit Insurance Corporation.
(Added to NRS by 1971, 1005; A 1983, 1757; 1987, 1941)
2023 Nevada Revised Statutes › Chapter 667 - Liquidation and Reorganization › NRS 667.225 - Conditions under which bank may reorganize before actual dissolution.

1. When any bank is authorized to dissolve and has taken the necessary steps to effect dissolution in accordance with the laws of this state or the laws of the United States, but before actual dissolution, a majority of the directors or managers of the national or state bank, upon authority in writing of the owners of two-thirds of its stock or two-thirds of the members’ interests and with the approval of the Commissioner, may execute articles of incorporation or organization as provided in chapters 657 to 671, inclusive, of NRS for the organization of a new bank. The articles must further set forth the authority derived from the stockholders or members of the national or state bank.
2. Upon the filing of articles of incorporation or organization in the same manner as provided for the organization of new banks, the reorganized bank is a bank under the laws of this state. Upon reorganization, all assets, real and personal, of the dissolved national or state bank, by operation of law, vest in and become the property of the reorganized state bank, subject to all liabilities of the national or state bank existing before the reorganization.
(Added to NRS by 1971, 1005; A 1983, 1757; 1987, 1942; 1995, 495; 1997, 1006)
2023 Nevada Revised Statutes › Chapter 668 - Prohibited Practices and Penalties › NRS 668.015 - False or deceptive financial statements: Criminal penalty; liability for damages; removal from office.

Every president, director, manager, cashier or other officer or employee of any bank who knowingly prepares, signs, approves or concurs in any account, statement, return, report or document respecting the affairs of the bank, containing any false or deceptive statement, or any return or report required by chapters 657 to 671, inclusive, of NRS which does not set forth the true financial condition of the bank, including in the report or return all the information required by the provisions of chapters 657 to 671, inclusive, of NRS, is:
1. Guilty of a category D felony and shall be punished as provided in NRS 193.130.
2. Liable for all damages which the bank, its stockholders, creditors or depositors suffer in consequence thereof, and is subject to removal upon order of the Commissioner.
(Added to NRS by 1971, 1006; A 1983, 1757; 1987, 1942; 1995, 1315)
2023 Nevada Revised Statutes › Chapter 668 - Prohibited Practices and Penalties › NRS 668.045 - Receiving deposits in insolvent banks with knowledge of insolvency; unfair preference to creditor; penalty.

1. It is unlawful for a president, director, manager, cashier or other officer or employee of any bank to permit the bank to remain open for business, or to assent to the reception of deposits or the creation of debts by the banking institution, after he or she has knowledge of the fact that it is insolvent or in failing circumstances. An officer, director, manager or agent of a bank shall examine the affairs of the bank and shall know its condition. Upon the failure of any such person to discharge his or her duty of examination, that person must be held, for the purpose of chapters 657 to 671, inclusive, of NRS, to have had knowledge of the insolvency of the bank, or that it was in failing circumstances, and shall be deemed to have assented to the receipt of deposits while the bank was insolvent or in failing circumstances. A person who violates the provisions of this subsection is individually responsible for deposits so received, and all such debts so contracted, but any director who has paid more than his or her share of such liabilities has a remedy at law against other persons who have not paid their full share of such liabilities for contribution.
2. It is unlawful for a president, director, manager, cashier or other officer or employee of any bank willfully to give or concur in giving to a creditor of the bank any fraudulent, undue or unfair preference over other creditors, by giving security to the creditor, or by changing the nature of his or her claim, or otherwise, but this subsection does not prohibit the bank from giving security for public money of the State of Nevada or any political subdivision thereof, or of the United States, or an officer, agent, agency or department thereof, in the manner provided by law.
3. A person who violates the provisions of this section, or who is an accessory to, or permits or connives at, the receiving or accepting of any such deposits, or the giving of such preferences, is guilty of a category D felony and shall be punished as provided in NRS 193.130.
(Added to NRS by 1971, 1006; A 1981, 1537; 1995, 1316; 1999, 1828)
2023 Nevada Revised Statutes › Chapter 668 - Prohibited Practices and Penalties › NRS 668.051 - Unreasonable delay in responding to offer for sale in lieu of foreclosure.

1. A banking or other financial institution, or an officer, manager or employee of a banking or other financial institution, shall not unreasonably delay responding to an offer for a sale in lieu of a foreclosure sale on real property secured by a residential mortgage loan.
2. For the purposes of this section, a person is presumed to have unreasonably delayed responding to an offer for a sale in lieu of a foreclosure sale on real property secured by a residential mortgage loan when the person fails to respond to an offer for a sale in lieu of a foreclosure sale with an acceptance or rejection of the offer within 90 days after receipt of the offer, unless the parties have agreed in writing to a delay of more than 90 days after receipt of the offer.
3. As used in this section:
(a) "Banking or other financial institution" means any bank, savings and loan association, savings bank, thrift company, credit union or other financial institution that is licensed, registered or otherwise authorized to do business in this State.
(b) "Indebtedness" has the meaning ascribed to it in NRS 40.451.
(c) "Residential mortgage loan" has the meaning ascribed to it in NRS 645B.0132.
(d) "Sale in lieu of a foreclosure sale" means a sale of real property pursuant to an agreement between a person to whom an obligation secured by a mortgage or other lien on real property is owed and the debtor of that obligation in which the sales price of the real property is insufficient to pay the full outstanding balance of the obligation and the costs of the sale. The term includes, without limitation, a deed in lieu of foreclosure.
(Added to NRS by 2011, 2051)
2023 Nevada Revised Statutes › Chapter 668 - Prohibited Practices and Penalties › NRS 668.055 - Embezzlement; willful misapplication of money; penalties.

A president, director, manager, cashier, teller, clerk, officer or agent of any bank who embezzles, abstracts or willfully misapplies any money, funds, securities or credits of any bank, or who issues or puts forth any certificate of deposit, draws any draft, bill of exchange or mortgage, or who makes use of any bank in any manner, with the intent to injure or defraud any bank or person, or to deceive any bank, or officer of any bank, and any natural person who, with like intent, aids or abets any officer, clerk or agent in any violation of this section, shall be punished:
1. Where the amount involved is $650 or more, for a category C felony as provided in NRS 193.130. In addition to any other penalty, the court shall order the person to pay restitution.
2. Where the amount involved is less than $650, for a misdemeanor.
(Added to NRS by 1971, 1007; A 1979, 1491; 1987, 1314; 1989, 1443; 1995, 496, 1316; 2011, 179)
2023 Nevada Revised Statutes › Chapter 668 - Prohibited Practices and Penalties › NRS 668.065 - False oath or affirmation of officer, director, manager or employee; penalty.

Every officer, director, manager or employee of a bank required by chapters 657 to 671, inclusive, of NRS to take an oath or affirmation who willfully swears or affirms falsely is guilty of perjury, and upon conviction thereof shall be punished as provided by the laws of this state for cases of perjury.
(Added to NRS by 1971, 1007; A 1995, 496)
2023 Nevada Revised Statutes › Chapter 668 - Prohibited Practices and Penalties › NRS 668.075 - Limitation on advertising or publishing statement of stock.

A bank or an officer or manager of a bank shall not advertise in any manner or publish any statement of the stock authorized or subscribed, unless the amount of stock actually paid up is advertised or published with the advertisement or statement.
(Added to NRS by 1971, 1007; A 1995, 496; 1997, 1006)
2023 Nevada Revised Statutes › Chapter 668 - Prohibited Practices and Penalties › NRS 668.085 - Unauthorized disclosure of confidential information; penalty.

If any person fails to keep secret the facts and information obtained in the course of, or as a result of, an examination of a bank, except when the duty of such examiner or employee requires him or her to report upon or take official action regarding the affairs of such bank, the person is guilty of a misdemeanor.
(Added to NRS by 1971, 1007)
2023 Nevada Revised Statutes › Chapter 668 - Prohibited Practices and Penalties › NRS 668.095 - Penalties for making, aiding in making, or suppressing evidence of false or fraudulent report.

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.
(Added to NRS by 1971, 1008; A 1979, 1491; 1983, 1758; 1995, 1317)
2023 Nevada Revised Statutes › Chapter 668 - Prohibited Practices and Penalties › NRS 668.112 - Administrative fines.

1. 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:
(a) Without a license, conducts any business or activity for which a license is required pursuant to the provisions of chapters 657 to 668, inclusive, of NRS; or
(b) Violates any provision of chapters 657 to 668, inclusive, of NRS or any regulation adopted pursuant thereto.
2. As used in this section, "license" means any license, certificate, registration, permit or similar type of authorization.
(Added to NRS by 2005, 1849)
2023 Nevada Revised Statutes › Chapter 668 - Prohibited Practices and Penalties › NRS 668.115 - Violation constitutes misdemeanor unless otherwise specified.

Where no other punishment is provided in chapters 657 to 671, inclusive, of NRS, any person violating any of the provisions of chapters 657 to 671, inclusive, of NRS is guilty of a misdemeanor.
(Added to NRS by 1971, 1008)
2023 Nevada Revised Statutes › Chapter 669 - Trust Companies › NRS 669.010 - Declaration of legislative intent.

The Legislature finds as facts and determines that:
1. There exists in this State a need, for the protection of the public interest, to regulate companies which are engaged in the trust company business.
2. Such trust companies should be licensed and regulated in such manner as to promote the public advantage and convenience.
3. It is the purpose of this chapter to bring under public supervision those persons who are engaged in or who desire to engage in the business of a trust company, not in connection with banking business, and to insure that there is established in this State an adequate, efficient and competitive trust company service.
(Added to NRS by 1969, 1184)
2023 Nevada Revised Statutes › Chapter 669 - Trust Companies › NRS 669.020 - Definitions.

As used in this chapter and chapter 669A of NRS, unless the context otherwise requires, the words and terms defined in NRS 669.029 to 669.070, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 1969, 1184; A 1999, 842; 2009, 1146, 1956)
2023 Nevada Revised Statutes › Chapter 669 - Trust Companies › NRS 669.029 - "Business of a trust company" and "trust company business" defined.

"Business of a trust company" or "trust company business" means the holding out by a person, by advertising, solicitation or other means, that it is available to act as a fiduciary in this state and undertaking to act as a fiduciary in the regular course of its business.
(Added to NRS by 1999, 841)
2023 Nevada Revised Statutes › Chapter 669 - Trust Companies › NRS 669.045 - "Fiduciary" defined.

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.
(Added to NRS by 1999, 841; A 2009, 1956; 2019, 1551; 2021, 1422)
2023 Nevada Revised Statutes › Chapter 669 - Trust Companies › NRS 669.047 - "Grandfathered trust company" defined.

"Grandfathered trust company" means a trust company that:
1. Held a license pursuant to this chapter on March 16, 2009; or
2. Filed an application for a license pursuant to this chapter with the Commissioner on or before March 16, 2009, and held such license on October 1, 2009.
(Added to NRS by 2009, 1948)
2023 Nevada Revised Statutes › Chapter 669 - Trust Companies › NRS 669.049 - "Noncustodial trust company" defined.

1. "Noncustodial trust company" means a grandfathered trust company that:
(a) Does not manage, or advise regarding, in the aggregate, more than $100,000,000 worth of a client’s assets;
(b) Does not have custody or control of clients’ assets that exceed 20 percent of the total assets that the trust company manages for all clients; and
(c) To the extent that the trust company has custody or control of a client’s assets, invests such assets pursuant to:
(1) Direction by the client; or
(2) The prudent investor standards of NRS 164.700 to 164.775, inclusive.
2. For the purposes of this section:
(a) "Advise" means to provide investment advice.
(b) "Control" means the ability to invest or transfer cash or any other asset in a fiduciary or client account to any person other than:
(1) In the case of an account for which the trust company acts as fiduciary, the settlor or beneficiary; and
(2) In the case of any other account of a client, the owner of the account.
(c) "Manage" means the exercise of discretion regarding investments, whether or not that discretion is delegated to another person.
(Added to NRS by 2009, 1949)