reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.195 - Temporary orders: Application for injunction limiting or setting aside order; application for injunction prohibiting violation.

1. Within 10 days after a bank holding company has been served with a temporary order to cease and desist, the company may apply to the district court for the judicial district in which the company is located for an injunction limiting or setting aside the order until the hearing is held pursuant to the notice of charges.
2. If a bank holding company violates or threatens to violate a temporary order, the Commissioner may apply to the district court for the judicial district in which the bank holding company is located for an injunction prohibiting the company from violating the order.
(Added to NRS by 1983, 932; A 1983, 1842; 1987, 1933)
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.205 - Injunctions; civil penalty; divestiture by holding company in another state.

1. The Commissioner may apply to the district court for an order compelling compliance with any provision of NRS 666.065 to 666.195, inclusive. The court may award the Commissioner the costs of bringing the action and attorney’s fees.
2. The Commissioner may bring an action against a person who violates a court order or injunction issued pursuant to this section or NRS 666.065 to 666.195, inclusive, to recover a civil penalty of not more than $10,000 for each violation.
3. The Commissioner may bring an action to require a holding company for a depository institution which acquired a depository institution in Nevada to divest itself of all interest in the acquired institution if the holding company violates:
(a) An order to cease and desist issued pursuant to NRS 666.175; or
(b) A court order or injunction issued pursuant to this section or NRS 666.065 to 666.195, inclusive.
(Added to NRS by 1983, 932; A 1983, 1843; 1984, 4; 1985, 2154; 1987, 1933, 2023)
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.215 - Penalties.

1. A person who willfully violates any provision of NRS 666.145 is guilty of a category D felony and shall be punished as provided in NRS 193.130.
2. A person who willfully violates any provision of NRS 666.065 to 666.135, inclusive, or 666.155 to 666.205, inclusive, is guilty of a gross misdemeanor.
(Added to NRS by 1983, 932; A 1984, 4; 1995, 1315)
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.305 - Approval of Commissioner required before taking certain actions affecting depository institution or holding company whose home state is Nevada; penalty; injunctive relief.

1. Unless the Commissioner gives prior written approval, no person may:
(a) Acquire, directly or indirectly, a depository institution or holding company whose home state is Nevada;
(b) Vote the stock of a depository institution or holding company acquired in violation of paragraph (a);
(c) Acquire, directly or indirectly, the voting or nonvoting securities of a depository institution or a holding company whose home state is Nevada if the acquisition would result in that person’s obtaining more than 20 percent of the authorized voting securities of the institution or company if the nonvoting securities were converted into voting securities; or
(d) Merge or consolidate with a depository institution or a holding company whose home state is Nevada.
2. Any person who willfully violates any provision of this section or any regulation adopted by the Commissioner pursuant to this section is guilty of a misdemeanor. Each day during which the violation continues constitutes a separate offense.
3. The Commissioner may obtain injunctive relief to prevent any change in control or impending violation of this section.
(Added to NRS by 1985, 2150; A 1987, 1934; 1995, 1559)
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.325 - Examination, supervision and regulation of interstate operations.

1. The Commissioner may examine and supervise any out-of-state depository institution or holding company which has been authorized to do business in this state. Such institutions and holding companies are subject to regulation in the same manner as institutions and holding companies organized under the laws of this state and must pay the same fees for supervision and examination, except that the Commissioner may coordinate these activities with any state or federal agency that shares jurisdiction over the institution.
2. The Commissioner may coordinate the examination, supervision and regulation of any depository institution chartered by this state with the examination, supervision and regulation of an affiliated depository institution or branch operating in another state.
3. The Commissioner may take any reasonable and lawful action in furtherance of coordinating the regulation of interstate operations pursuant to this section, including:
(a) Negotiating and entering into cooperative agreements with an agency of another state or of the Federal Government;
(b) Sharing information and reports with an agency that shares jurisdiction over the institution;
(c) Accepting as sufficient examination reports and other information compiled or generated by or for an agency that shares jurisdiction over the institution;
(d) Contracting with an agency that shares jurisdiction over the institution to engage the services of its examiners at a reasonable rate of compensation;
(e) Offering the services of the Division’s examiners at a reasonable rate of compensation to an agency that shares jurisdiction over the institution;
(f) Collecting fees on behalf of, or receiving payment of fees through, an agency that shares jurisdiction over the institution;
(g) Cooperating in any other way with other supervisory agencies and professional associations to promote the efficient, safe and sound operation and regulation of interstate activities of depository institutions, including the formulation of interstate policies and procedures for examination and the drafting of model laws, rules and agreements; and
(h) Adopting regulations to carry out the provisions of this section.
(Added to NRS by 1985, 2152; A 1985, 2160; 1987, 1936, 2023; 1995, 1559)
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.355 - Authority of Commissioner to authorize or require acquisition of failing depository institution or failing holding company which controls depository institution.

If the Commissioner considers it necessary to protect depositors, creditors and other customers of a failing depository institution or a failing holding company which controls a depository institution, the Commissioner may solicit offers from and authorize or require the acquisition of the institution or company by or its merger with another institution or company.
(Added to NRS by 1985, 2153; A 1985, 2161; 1987, 1937, 2023; 1995, 1560)
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.365 - Rights, powers and privileges of acquired, acquiring or resulting depository institution or holding company.

Any depository institution or holding company which is acquired pursuant to NRS 666.355, the institution which acquired the depository institution or holding company pursuant to that section or the institution which results from a merger pursuant to that section has all rights, powers and privileges of any other depository institution in this state which is of the same class.
(Added to NRS by 1985, 2153; A 1985, 2161)
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.375 - Conditions for authorizing or requiring certain transactions involving out-of-state depository institution or out-of-state holding company.

The Commissioner may not authorize or require any transaction pursuant to NRS 666.355 involving an out-of-state depository institution or an out-of-state holding company, unless the Commissioner finds that:
1. The acquiring or merging depository institution or holding company has demonstrated an acceptable record of meeting the needs for credit of the communities which it serves; and
2. The acquiring or merging depository institution or holding company has a record of sound performance, adequate stockholders’ or members’ equity, financial capacity and efficient management so the acquisition or merger will not jeopardize the financial stability of the acquired or merged depository institution and will not be detrimental to the interests of depositors, creditors or other customers of the depository institution, or to the public.
(Added to NRS by 1985, 2153; A 1987, 1937; 1995, 1560; 1997, 1001)
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.390 - Authority and conditions for depository institution to act as agent for affiliated depository institution.

1. A depository institution may, at its main office or at any branch, act as an agent of any other depository institution that is a subsidiary of the same holding company in conducting the activities authorized by this section. This section applies whether or not the affiliated depository institutions have the same home state.
2. A depository institution acting as an agent for an affiliated depository institution may:
(a) Receive deposits;
(b) Renew time deposits;
(c) Close loans;
(d) Service loans; and
(e) Receive payments on loans and other obligations.
3. A depository institution may not do any of the following as an agent on behalf of an affiliated depository institution:
(a) Open or originate deposit, savings or share accounts;
(b) Evaluate or approve loans;
(c) Disburse money loaned; or
(d) Conduct any activity as an agent that it is prohibited from conducting as a principal under any applicable law.
4. A depository institution acting as a principal may not have an affiliated depository institution act as its agent in conducting any activity that:
(a) The principal depository institution is prohibited from conducting; or
(b) The agent depository institution would be prohibited from conducting as a principal.
5. An agency between affiliates under this section must be consistent with safe and sound practices and shall comply with all applicable laws.
6. A depository institution acting as an agent shall not be deemed a branch of the affiliate solely because of activities conducted under this section.
7. A depository institution that proposes to enter into an agreement for an agency under this section shall file with the Commissioner, at least 30 days before the effective date of the agreement:
(a) A notice of intention to enter into an agreement for an agency with a depository institution;
(b) A description of the services proposed to be performed under the agreement; and
(c) A copy of the agreement.
(Added to NRS by 1995, 1553)
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.405 - Acquisition of Nevada depository institution for conversion to branch of out-of-state depository institution or out-of-state holding company; restrictions; exceptions.

1. Except as otherwise provided in this section, an out-of-state depository institution without a branch in Nevada, or an out-of-state holding company without a depository institution in Nevada, may acquire a Nevada depository institution and convert the institution to a branch of the out-of-state depository institution or depository institution of the out-of-state holding company. If the Nevada depository institution is chartered after September 28, 1995, the Nevada depository institution may be so acquired only if it has been in existence for at least 5 years.
2. For the purposes of subsection 1:
(a) A depository institution chartered solely for the purpose of acquiring another depository institution shall be deemed to have been in existence for the same period as the depository institution to be acquired, as long as the acquiring depository institution does not open for business at any time before the acquisition.
(b) A bank that was originally chartered as a corporation or limited-liability company other than a depository institution shall be deemed to have been in existence for the period since a certificate of amendment of its articles of incorporation or organization was filed pursuant to NRS 659.035 to reorganize the corporation or limited-liability company as a bank.
(c) A bank that was originally chartered as a Nevada depository institution other than a bank shall be deemed to have been in existence for the period since the original articles of incorporation or organization of the depository institution were filed with the Secretary of State.
(d) If a Nevada depository institution becomes the successor in interest to the business of an out-of-state depository institution without a branch bank in this state that previously acquired a Nevada depository institution or to an out-of-state holding company without a branch bank in this state that previously acquired a Nevada depository institution, the Commissioner shall include the period of existence of the original Nevada depository institution when determining the period of existence of the successor Nevada depository institution.
3. If the Commissioner considers it necessary to protect depositors, creditors and other customers of a failing depository institution or a failing holding company which controls a depository institution, the Commissioner may authorize the acquisition of the institution or company by, or its merger with, another institution or company regardless of the duration of existence of the failing depository institution or failing holding company.
4. The restriction set forth in subsection 1 does not apply to an acquisition of, or merger between, affiliated depository institutions.
(Added to NRS by 1995, 1555; A 1997, 1002; 1999, 428)
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.410 - Establishment or acquisition of Nevada branch by out-of-state depository institution or out-of-state holding company.

1. An out-of-state depository institution without a branch in Nevada or an out-of-state holding company without a depository institution in Nevada may not establish a de novo branch in this State or acquire, through merger or otherwise, a branch of a depository institution in Nevada without acquiring the institution itself or its charter, except that, with the written approval of the Commissioner:
(a) An out-of-state depository institution without a branch in Nevada may establish a branch office or acquire an existing branch in a county whose population is less than 100,000 without acquiring or merging with a Nevada depository institution or a Nevada holding company. Except as otherwise provided in subsection 2, an out-of-state depository institution that establishes or acquires a branch office pursuant to this paragraph continues to be considered an out-of-state depository institution without a branch in Nevada for the purposes of all other provisions of this chapter.
(b) An out-of-state depository institution without a branch in Nevada which is owned or controlled by a holding company that is entitled to the exemption set forth in section 4(c)(i) of the Bank Holding Company Act of 1956, as amended, 12 U.S.C. § 1843(c)(i), may acquire an existing branch in Nevada without acquiring or merging with a Nevada depository institution or a Nevada holding company.
2. An out-of-state depository institution that on or before April 1, 2007, has, pursuant to paragraph (a) of subsection 1, established or acquired, or been approved by the Commissioner to establish or acquire, a branch in a county whose population is less than 100,000, may establish or acquire a branch in a county whose population is 100,000 or more so long as the out-of-state depository institution continues to operate a branch in a county whose population is less than 100,000.
3. An out-of-state depository institution that establishes or acquires a branch office pursuant to this section may issue a credit card pursuant to the provisions of chapter 97A of NRS.
(Added to NRS by 1995, 1555; A 2005, 651; 2007, 654)
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.415 - Waiver of federal limits on concentration of deposits.

To the extent authorized by federal law, the Commissioner may waive any applicable federal limit on concentration of deposits if the Commissioner finds that the waiver promotes the availability of financial services or is otherwise in the public interest. The Commissioner may, by regulation, establish standards for granting a waiver pursuant to this section and the procedure for requesting a waiver. In making a decision to waive such a federally imposed limit, the Commissioner shall apply a standard that does not discriminate in purpose or effect against out-of-state depository institutions.
(Added to NRS by 1995, 1555)
2023 Nevada Revised Statutes › Chapter 666 - Major Organizational Changes; Bank Holding Companies; Interstate Banking › NRS 666.420 - Reports by out-of-state depository institution or holding company.

The Commissioner may, by regulation, require an out-of-state depository institution or holding company to submit such reports or permit the submission of such reports prepared pursuant to federal law as, in the Commissioner’s discretion, contain sufficient information pertinent to operations in Nevada of branches of the institution or of depository institutions of the holding company.
(Added to NRS by 1995, 1556)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.020 - "Agency" defined.

"Agency" means an office or other place of business of a foreign bank located in this state at which credit balances are maintained incidental to or arising out of the exercise of banking powers, checks are paid or money is loaned, but at which deposits are not accepted from citizens or residents of the United States.
(Added to NRS by 1995, 1537)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.080 - State branch or agency: License required; exemptions from licensing.

1. Except as otherwise provided in subsection 2, a foreign bank shall not transact business in this state except at a state branch or agency for which it has been issued a license pursuant to this chapter.
2. A foreign bank:
(a) Which maintains a federal branch or agency in this state may transact business authorized under federal law or regulation in that branch or agency.
(b) Which does not maintain a state branch or agency may make loans in this state secured by real property in this state.
(c) Organized under the law of a territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands may operate an interstate branch in this state as if it were a state bank.
3. Transaction of business by a subsidiary of a foreign bank does not constitute transaction of business by the parent bank.
(Added to NRS by 1995, 1537)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.090 - State branch or agency: Application and fee for license; limitation on licensing; withdrawal of application.

1. A foreign bank which desires to obtain a license under this chapter to establish and maintain a state branch or agency shall submit an application to the Commissioner pursuant to NRS 666.315. The application must contain:
(a) The same information as required by the Board of Governors of the Federal Reserve System for an application to establish a branch or agency, as the case may be, in the United States; and
(b) The information required pursuant to NRS 666.315,
and must be accompanied by the fee required by that section.
2. A foreign bank which is licensed under this chapter to establish and maintain a state branch or agency may not concurrently maintain a federal branch or agency in this State. A foreign bank which maintains a federal branch or agency in this State may not concurrently be licensed under this chapter to maintain a state branch or agency.
3. The Commissioner shall consider an application to be withdrawn if the Commissioner has not received all information and fees required to complete the application within 12 months after the date the application is first submitted to the Commissioner or within such later period as the Commissioner determines in accordance with any existing policies of joint regulatory partners. If an application is deemed to be withdrawn pursuant to this subsection or if the applicant otherwise withdraws the application, the Commissioner may not issue a license to the applicant unless the applicant submits a new application and pays any required fees.
(Added to NRS by 1995, 1538; A 2005, 1847)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.100 - State branch or agency: Amendment of license.

1. A foreign bank which is licensed to establish and maintain a state branch or agency shall secure an amended license if it changes its corporate name, changes the duration of its corporate existence or desires to pursue in this state other or additional purposes than those set forth in its previous application under this chapter for a license, by making application therefor to the Commissioner.
2. The requirements with respect to the form and contents of an application under subsection 1, the manner of its execution, the filing of duplicate originals thereof with the Commissioner, the issuance of an amended license and the effect thereof are the same as in the case of an initial application for a license to establish and maintain a state branch or agency.
(Added to NRS by 1995, 1543)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.110 - State representative office: License required; exemption from licensing.

1. No foreign bank may establish or maintain a state representative office unless the foreign bank is licensed by the Commissioner to maintain a state representative office.
2. A foreign bank that maintains a federal agency or branch in this state may establish or maintain one or more federal representative offices in this state.
(Added to NRS by 1995, 1540)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.120 - State representative office: Application and fees for license; appointment of Commissioner as agent for service of process; regulations; withdrawal of application.

1. The application for a license to establish and maintain a state representative office must be made in writing under oath and be in such form and contain such information as the Commissioner may require. The application must be accompanied by a fee of not more than $400. A fee of not more than $200 must be paid annually to renew the license.
2. The Commissioner shall require a foreign bank to include as part of its application to establish and maintain a state representative office an instrument irrevocably appointing the Commissioner and the Commissioner’s successors in office to be the foreign bank’s agent to receive service of any lawful process in any proceeding against the foreign bank or any of its successors which arises out of a transaction with its state representative office, with the same force and validity as if served on the foreign bank or its successor, as the case may be. The appointment must be in such form and contain such information as the Commissioner may require.
3. The Commissioner shall adopt regulations establishing the amount of the fees required pursuant to this section.
4. The Commissioner shall consider an application to be withdrawn if the Commissioner has not received all information and fees required to complete the application within 12 months after the date the application is first submitted to the Commissioner or within such later period as the Commissioner determines in accordance with any existing policies of joint regulatory partners. If an application is deemed to be withdrawn pursuant to this subsection or if the applicant otherwise withdraws the application, the Commissioner may not issue a license to the applicant unless the applicant submits a new application and pays any required fees.
(Added to NRS by 1995, 1540; A 2005, 1848)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.130 - State representative office: Prerequisites to issuance of license; issuance and contents of license.

1. A foreign bank making an application for a license to establish and maintain a state representative office must deliver to the Commissioner two duplicate originals of the application.
2. The Commissioner shall issue a license to a foreign bank to establish and maintain a state representative office if the Commissioner finds that:
(a) The foreign bank is of good character and sound financial standing;
(b) The management of the foreign bank and the proposed management of the state representative office are adequate; and
(c) The convenience and needs of persons to be served by the proposed state representative office will be advantageously served.
3. If the Commissioner determines to issue a license to a foreign bank to establish and maintain a state representative office, the Commissioner shall, when all fees have been paid as required by this chapter, issue the license.
4. Each license issued to a foreign bank to establish and maintain a state representative office must state fully the name of the foreign bank to which the license is issued, the address or addresses at which the state representative office is to be located and such other information as the Commissioner may require.
(Added to NRS by 1995, 1540)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.140 - Posting of license; transfer or assignment of license prohibited.

1. Each foreign bank which is licensed to establish and maintain a state branch, agency or representative office shall post its license in a conspicuous place at such branch, agency or office.
2. A license issued by the Commissioner pursuant to this chapter is not transferable or assignable.
(Added to NRS by 1995, 1541)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.150 - State branch or agency: Powers, duties, limitations and restrictions.

1. Except as otherwise provided in this chapter or in regulations adopted by the Commissioner, a foreign bank operating at a state branch or agency has the same rights, privileges and powers as a Nevada bank at the same location, including the eligibility to exercise fiduciary powers, and is subject to the same duties, restrictions, penalties, liabilities, conditions and limitations that would apply under the laws of this state to a Nevada bank doing business at the same location, but:
(a) A state branch may not accept from citizens or residents of the United States deposits other than credit balances that are incidental to or arise out of its exercise of other lawful banking powers, but it may accept deposits from persons who are not citizens or residents of the United States;
(b) A state agency may not accept any deposits from citizens or residents of the United States other than credit balances that are incidental to or arise out of its exercise of other lawful banking powers, but it may accept deposits from persons who are not citizens or residents of the United States; and
(c) A state branch or agency is not required to maintain federal deposit insurance and the Commissioner may, by regulation or order, exclude or exempt uninsured state branches or agencies from, or otherwise modify the applicability to uninsured state branches or agencies of, any law or regulation of this state that is generally applicable to insured Nevada banks, or that would otherwise be applicable to an insured Nevada bank doing business at the same location, taking into account applicable limitations on the privileges of state branches and agencies and on their power to take retail deposits.
2. Any limitation or restriction based on the stockholders’ or members’ equity of a Nevada bank shall be deemed to refer, as applied to a state branch or agency, to the dollar equivalent of the stockholders’ or members’ equity of the foreign bank, and if the foreign bank has more than one state branch or agency in this state, the business transacted by all the state branches and agencies must be aggregated in determining compliance with the limitation.
3. The Commissioner may adopt such additional, or modify the applicability of any existing, standards, conditions or requirements, by regulation, as the Commissioner deems necessary to ensure the safety and soundness and the protection of creditors of the operations of branches and agencies of foreign banks in this state.
(Added to NRS by 1995, 1538; A 1997, 1003)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.160 - State branch or agency: Engaging in fiduciary activities; regulations.

1. No foreign bank which is licensed to establish and maintain a state branch or agency may engage in fiduciary activities at that office unless the foreign bank first obtains a certificate of authority from the Commissioner to engage in fiduciary activities there.
2. An application to obtain a certificate of authority to engage in fiduciary activities must be in such form and contain such information as the Commissioner may require and must be accompanied by a fee of not more than $1,000. The Commissioner shall issue a certificate of authority to engage in fiduciary activities to a foreign bank making an application under this section if the Commissioner finds that the foreign bank will exercise fiduciary powers in accordance with the laws and regulations of this State.
3. A foreign bank which holds a certificate of authority issued pursuant to this section may engage at its state branch or agency in fiduciary activities to the same extent and in the same manner as if the foreign bank were a Nevada bank.
4. A foreign bank which holds a certificate of authority issued pursuant to this section shall file reports and be subject to examination and supervision to the same extent and in the same manner as if the foreign bank were a Nevada bank.
5. The Commissioner may suspend or revoke a certificate to engage in fiduciary activities issued pursuant to this section if the Commissioner finds that:
(a) Conditions exist which would authorize the Commissioner to revoke or suspend the foreign bank’s license to establish and maintain a state branch or agency; or
(b) Any fact or condition exists which, if it had existed at the time of the foreign bank’s original application to obtain a certificate of authority to engage in fiduciary activities, would have resulted in the Commissioner’s refusing to issue the certificate of authority.
6. The Commissioner shall adopt regulations establishing the amount of the application fee required pursuant to this section.
(Added to NRS by 1995, 1539; A 2005, 1848)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.170 - State branch or agency: Acting as agent.

1. A state branch of a foreign bank licensed under this chapter may receive deposits and renew time deposits, and a state branch or agency of such a bank may close loans, service loans and receive payments on loans and other obligations, as an agent for any depository institution affiliated with the foreign bank, including branches, agencies and other offices of the same foreign bank located in other states, generally in accordance with the same terms, conditions, procedures and requirements that are applicable under the laws and regulations of this state to such activities as an agent which may be conducted by Nevada banks.
2. A state branch or agency of a foreign bank acting in this state as an agent in accordance with the provisions of this section must not be considered a branch of the affiliated depository institution, but no state branch or agency may act as agent for a branch or agency of an affiliated foreign bank other than the foreign bank which has been licensed to transact business in this state pursuant to this chapter.
3. A state branch or agency of a foreign bank licensed under this chapter may not:
(a) Conduct any activity as an agent under this section which that office is prohibited from conducting as a principal under any applicable federal or state law, including the acceptance of impermissible deposits; or
(b) As a principal, have an agent conduct any activity under this section which that office is prohibited from conducting under any applicable federal or state law, including the acceptance of impermissible deposits.
4. A state branch or agency of a foreign bank licensed under this chapter may act as an agent for a depository institution affiliated with the foreign bank only on terms that are consistent with safe and sound banking practices and all applicable regulations of the Commissioner.
5. A state branch may receive deposits or renew time deposits, and a state branch or agency may close loans, service loans or receive payments on loans and other obligations, as an agent for persons other than those for whom such agency activities are specifically authorized by this section, if the Commissioner so authorizes by regulation.
(Added to NRS by 1995, 1539)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.180 - State branch or agency: Maintenance of registered office and registered agent.

A foreign bank which is licensed to establish and maintain a state branch or agency shall have and continuously maintain in this state:
1. A registered office which may be, but need not be, the same as its place of business in this state; and
2. A registered agent, who may be a natural person who resides in this state and maintains a business office at the registered office or a corporation authorized to transact business in this state which maintains a business office at the registered office.
(Added to NRS by 1995, 1541)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.190 - State branch or agency: Change of registered office or registered agent.

1. A foreign bank which is licensed to establish and maintain a state branch or agency may from time to time change the address of its registered office, and shall change its registered agent if:
(a) The registered agent ceases to act for any reason;
(b) The registered agent becomes disqualified or incapacitated to act; or
(c) It revokes the appointment of its registered agent.
2. Any change of registered office or registered agent under this section may be effected by filing within 10 business days after the change two duplicate originals of a statement setting forth the details with respect to the change and the effective date thereof, in such form and containing such information as the Commissioner may require.
(Added to NRS by 1995, 1542)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.200 - State branch or agency: Amendment of articles of incorporation.

If the articles of incorporation of a foreign bank which is licensed to maintain a state branch or agency are amended, the foreign bank shall forthwith file in the Office of the Commissioner a copy of the amendment authenticated by the proper officer of the country of the foreign bank’s organization, but the filing thereof does not of itself enlarge or alter the purpose or purposes which the foreign bank is authorized to pursue in the transaction of its business in this state, nor authorize the foreign bank to transact business in this state under any name other than the name set forth in its license, nor extend the duration of its corporate existence.
(Added to NRS by 1995, 1542)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.210 - State branch or agency: Segregation of assets; priority of creditors.

1. Each foreign bank which is licensed to establish and maintain a state branch or agency in this state shall keep the assets of its business in this state separate from the assets of its business outside this state.
2. The creditors of the business in this state conducted by a foreign bank at and recorded on the books of its state branch or agency are entitled to absolute priority over other creditors with respect to the assets of the foreign bank’s offices in this state.
(Added to NRS by 1995, 1544)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.220 - State branch or agency: Notification regarding insurance of deposits and credit balances.

Each foreign bank which is licensed to establish and maintain a state branch or agency shall, in a manner established by the Commissioner, give notice that deposits and credit balances in that office are not insured by the Federal Deposit Insurance Corporation.
(Added to NRS by 1995, 1544)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.230 - State branch or agency: Limitations on payment of interest on deposits.

A foreign bank which is licensed to establish and maintain a state branch or agency is subject to the same limitations with respect to the payment of interest on deposits as a state bank which is a member of the Federal Reserve System.
(Added to NRS by 1995, 1544)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.240 - State branch or agency: Deposit of assets.

1. Each foreign bank which is licensed to establish and maintain a state branch or agency shall keep on deposit, in accordance with such regulations as the Commissioner may adopt, with unaffiliated Nevada banks which the foreign bank designates and the Commissioner approves, interest-bearing bonds, notes, debentures or other obligations of the United States or any agency or instrumentality thereof, or guaranteed by the United States, or of this state, or of a city, county, town, school district, or instrumentality of this state or guaranteed by this state, or dollar deposits, or obligations of the International Bank for Reconstruction and Development, or obligations issued by the Inter-American Development Bank, or obligations of the Asian Development Bank, or obligations issued by the African Development Bank, or such other assets as the Commissioner by regulation permits, to an aggregate amount to be determined by the Commissioner, based upon principal amount or market value, whichever is lower, in the case of the above-described securities, and subject to such limitations as the Commissioner prescribes.
2. The Commissioner may from time to time require that the assets deposited pursuant to this section be maintained by the foreign bank in such amount, in such form and subject to such conditions as the Commissioner deems necessary or desirable for the maintenance of a sound financial condition, the protection of depositors and the public interest, and to maintain public confidence in the business of the state branch or agency. The Commissioner may give credit to reserves required to be maintained with a federal reserve bank in or outside this state pursuant to federal law, in accordance with such regulations as the Commissioner may adopt.
3. So long as it continues business in the ordinary course, a foreign bank is entitled to collect interest on securities deposited pursuant to this section and from time to time exchange, examine and compare the securities.
(Added to NRS by 1995, 1545)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.250 - State branch or agency: Maintenance of assets.

1. Each foreign bank which is licensed to establish and maintain a state branch or agency shall hold in this state currency, bonds, notes, debentures, drafts, bills of exchange or other evidence of indebtedness, including loan participation agreements or certificates, or other obligations payable in the United States or in United States money or, with the prior approval of the Commissioner, in money freely convertible into United States money, or such other assets as the Commissioner by regulation permits, in an amount which bears such relationship as the Commissioner prescribes to liabilities of the foreign bank payable at or through its state branch or agency, including acceptances, but excluding amounts due and other liabilities to other offices, agencies or branches of, and wholly owned, except for a nominal number of directors’ shares, subsidiaries of, the foreign bank and such other liabilities as the Commissioner determines.
2. For the purposes of this section, the Commissioner shall value marketable securities at principal amount or market value, whichever is lower, may determine the value of any nonmarketable bond, note, debenture, draft, bill of exchange, other evidence of indebtedness, including agreements for or certificates of participation in loans, or of any other asset or obligation held or owed to the foreign bank or its state branch or agency in this state, and in determining the amount of assets for the purpose of computing the ratio of assets to liabilities, may by regulation exclude in whole or in part any particular asset.
3. If, by reason of the existence or the potential occurrence of unusual and extraordinary circumstances, the Commissioner deems it necessary or desirable for the maintenance of a sound financial condition, the protection of depositors, creditors and the public interest, and to maintain public confidence in the business of a state branch or agency, the Commissioner may, subject to such terms and conditions as the Commissioner may prescribe, require a foreign bank to deposit the assets required to be held in this state pursuant to this section with such Nevada banks or credit unions as the Commissioner may designate.
4. The assets held to satisfy the relationship of assets to liabilities prescribed by the Commissioner pursuant to this section may include obligations of any person for money borrowed from a foreign bank holding a license to establish and maintain a state branch or agency only to the extent that the total of such obligations of any person are not more than 10 percent of the assets considered for purposes of this section.
(Added to NRS by 1995, 1545; A 1999, 1543)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.260 - State branch: Maintenance of reserve against deposits.

1. Except as otherwise provided in subsection 2, a foreign bank which is licensed to establish and maintain a state branch shall at all times maintain a reserve against the deposits of the state branch as may from time to time be required to be maintained, pursuant to regulations issued by the Board of Governors of the Federal Reserve System, by a Nevada bank which is a member of the Federal Reserve System. The reserve must be maintained with a Nevada bank or national bank which the foreign bank designates and the commissioner approves.
2. A foreign bank which is required to maintain reserves pursuant to the authority granted the Board of Governors of the Federal Reserve System in section 7(a)(1)(B) of the federal International Banking Act (12 U.S.C. § 3105(a)(1)(B)) is exempt from the requirements of this section.
(Added to NRS by 1995, 1546)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.270 - State representative office: Authorized activities; approval of additional activities.

1. A foreign bank which is licensed to establish and maintain a state representative office may, subject to such regulations as the Commissioner may prescribe:
(a) Solicit loans and in connection therewith assemble information concerning credit, inspect and appraise property, secure information on titles, prepare applications for loans and make recommendations with respect to action thereon, solicit investors to purchase loans from the foreign bank and search for investors to contract with the foreign bank for servicing of loans;
(b) Solicit new business;
(c) Conduct research; and
(d) Perform administrative functions.
Any other activity, except as provided in subsection 2, which the foreign bank seeks to conduct at the office is subject to the prior written approval of the Commissioner.
2. A state representative office may approve credit if the foreign bank:
(a) Gives 45 days’ prior written notice to the Commissioner; and
(b) The Commissioner does not object within the 45-day period to that activity by the state representative office.
(Added to NRS by 1995, 1541)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.280 - Maintenance of books, accounts and other records.

Each foreign bank which is licensed to establish and maintain a state branch, agency or representative office shall make, keep and preserve at the office all such books, accounts and other records relating to the business of the office in such form, in such manner and for such time as the Commissioner may provide.
(Added to NRS by 1995, 1544)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.290 - Notification of merger or acquisition of control.

A foreign bank which is licensed to establish and maintain a state branch, agency or representative office shall file with the Commissioner a notice, in such form and containing such information as the Commissioner may prescribe, no later than 14 calendar days after the foreign bank becomes aware of any acquisition of control of the foreign bank or merges with another foreign bank.
(Added to NRS by 1995, 1543)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.300 - Relocation of office.

1. No foreign bank which is licensed to establish and maintain a state branch, agency or representative office may relocate the office unless the Commissioner first approves the relocation and issues an amended license authorizing the foreign bank to maintain the office at the new site.
2. An application by a foreign bank under this section must be in such form and contain such information as the Commissioner requires.
3. If an application made by a foreign bank pursuant to this section is approved and all conditions precedent to the issuance of an amended license authorizing the foreign bank to maintain the office at the new site have been fulfilled, the Commissioner shall issue an amended license.
4. Promptly after a foreign bank which is licensed to maintain a state branch, agency or representative office relocates the office, the foreign bank shall surrender to the Commissioner its previous license for the office.
(Added to NRS by 1995, 1543)
2023 Nevada Revised Statutes › Chapter 666A - Foreign Banks › NRS 666A.310 - Closure of office.

1. No foreign bank which is licensed to establish and maintain a state branch, agency or representative office may close that office without obtaining the prior written approval of the Commissioner. An application by a foreign bank under this section must be in such form and include such information as the Commissioner requires.
2. If the Commissioner finds that the closing of the office will not be substantially detrimental to the public convenience and advantage, the Commissioner shall approve the application.
3. If an application by a foreign bank under this section is approved and all conditions precedent to the closing have been fulfilled, the foreign bank may close the office and shall promptly thereafter surrender to the Commissioner the license which authorized it to maintain the office.
(Added to NRS by 1995, 1546)