NRS 666.185 – Temporary orders: Grounds; issuance; effectiveness.
1. If the Commissioner determines that the existing or threatened activity specified in a notice of charges is likely to: (a) Cause insolvency or substantial dissipation of the assets or earnings of a bank which is owned or controlled by the bank holding company; or (b) Seriously prejudice the interests of the depositors in the […]
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 […]
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 […]
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 […]
NRS 666.155 – Failure to remove person pursuant to order conclusive evidence of negligence.
If the board of directors of a bank holding company neglects or refuses to remove a person pursuant to an order of the Commissioner and the company subsequently incurs losses because of that person’s activities, the written order of the Commissioner is conclusive evidence, in any action against the directors or a director for recovery […]
NRS 666.165 – Charges against company: Grounds; notice; hearing.
1. If the Commissioner has reasonable cause to believe that a bank holding company: (a) Is engaging, has engaged or is about to engage in any unsafe or unsound practice in connection with the bank holding company or a bank which it owns or controls; or (b) Is violating, has violated or is about to […]
NRS 666.175 – Issuance of order to cease and desist; corrective action; effectiveness of order.
1. If a representative of the bank holding company does not appear at the hearing, the company shall be deemed to have consented to the issuance of an order to cease and desist. 2. If the bank holding company consents to the issuance of the order or if the Commissioner determines at the hearing that […]
NRS 666.065 – Definitions.
As used in NRS 666.065 to 666.215, inclusive, unless the context otherwise requires: 1. To “acquire” a bank means to obtain control of an existing bank or to establish a new bank. 2. “Business trust” means an organization in which a business or property is conveyed to trustees who manage the business or property for […]
NRS 666.070 – Applicability.
The provisions of NRS 666.065 to 666.215, inclusive, do not apply to a bank holding company which: 1. Owns only national banks within this state until the holding company acquires or applies for approval to acquire a bank licensed by the Commissioner. 2. Does not control a bank which is located in Nevada but does […]
NRS 666.075 – Rebuttable presumption against control of bank; certain legal relationships and companies deemed not to be bank holding companies.
1. There is a rebuttable presumption that a company which directly or indirectly owns, controls or has the power to vote less than 10 percent of the voting stock of, or members’ interests in, a bank does not control the bank. 2. An estate, trust, guardianship or conservatorship is not by virtue of its ownership […]