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 […]
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 […]
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 […]
1. The Commissioner may adopt such regulations as may be necessary to carry out the provisions of NRS 666.065 to 666.215, inclusive. 2. The Commissioner may require bank holding companies to submit reports under oath to determine whether they have complied with the provisions of NRS 666.065 to 666.215, inclusive, and any regulations adopted pursuant […]
Each bank holding company doing business in this state, directly or through a subsidiary bank, shall file an annual registration report with the Commissioner within 120 days after the end of its fiscal year. The report must contain: 1. A full statement of the general financial condition of the company; and 2. A description of […]
1. Each year the Commissioner shall make a thorough examination of and into the affairs of every bank holding company and every banking subsidiary thereof doing business in this state or accept a report of an examination made by the Comptroller of the Currency, the Federal Deposit Insurance Corporation or the Board of Governors of […]
1. Except as otherwise provided in subsection 4, a person who desires to form a bank holding company after July 1, 1983, must be approved by the Commissioner before forming the company. A bank holding company may not be organized as a limited-liability company. 2. The application for approval must include such information with respect […]
1. A bank holding company must receive the approval of the Commissioner before acquiring a bank. 2. The application for approval must include such information with respect to the financial condition, operations, management and intercompany relationships of the bank which is to be acquired and the bank holding company as the Commissioner may deem necessary […]
1. Any transfer of stock or trust certificates of a bank holding company by sale, gift or otherwise, which will result in giving the person who receives the shares voting control of the bank holding company must be approved by the Commissioner before the transfer. 2. The Commissioner shall not approve a transfer if the […]
1. If the Commissioner determines that a director, officer or employee of a bank holding company has been negligent, dishonest, reckless or incompetent in connection with his or her duties, the Commissioner may issue a written order requiring the person to be removed from his or her position. 2. The person affected by the order […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
