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 […]

NRS 666.315 – Application for approval required by NRS 666.305; contents; fee and expenses; review of application; issuance of written decision; grounds for disapproval; regulations.

1. An application filed with the Commissioner for approval must be on a form prescribed by the Commissioner and must include: (a) A nonrefundable fee of not more than $6,000 for the application. The depository institution or holding company must also pay such additional expenses incurred in the process of investigation as the Commissioner deems […]

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 […]

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 […]

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 […]

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; […]

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. […]

NRS 666.400 – Powers of out-of-state depository institution or its holding company after acquisition of or merger with Nevada depository institution or its holding company; applicable laws; powers of Commissioner.

1. Subject to the provisions of NRS 666.410, 666.415 and 666.420, and after approval of the Commissioner pursuant to NRS 666.315, an out-of-state depository institution or its holding company may acquire control of, acquire all or substantially all of the assets of, or merge with, a Nevada depository institution or its holding company. 2. An […]

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 […]

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, […]

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 […]

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. […]