NRS 669A.320 – Administrative fines.
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: 1. Without a license, conducts any business or activity for which a license is required pursuant to the provisions of this chapter; or 2. Violates any provision of this chapter or […]
NRS 669A.270 – Regulations of Commissioner; determination of organization as family trust company.
1. The Commissioner may adopt such regulations as may be necessary to carry out the purposes and provisions of this chapter. 2. The Commissioner may issue rules, orders, approvals, declaratory rulings or interpretations which determine, in individual circumstances or circumstances of more general applicability, whether an existing or proposed family trust company meets, or family […]
NRS 669A.280 – Authority of Commissioner to revoke license.
1. The violation of any of the provisions of this chapter by the officers or directors, or the managers or members acting in a managerial capacity, of any licensed family trust company is sufficient cause for the Commissioner to revoke the license of the family trust company. 2. If a licensed family trust company or […]
NRS 669A.290 – Failure to submit required report; fees; regulations.
1. If a licensed family trust company fails to submit within the prescribed period any report required pursuant to this chapter or any regulation adopted pursuant thereto, the Commissioner may impose and collect a fee of not more than $25 for each day the report is overdue. 2. The Commissioner shall adopt regulations establishing the […]
NRS 669A.300 – Willful neglect to perform duties imposed by law or failure to conform to material lawful requirement made by Commissioner; removal.
Each officer, director, manager, member, employee or agent of a licensed family trust company who, following written notice from the Commissioner sent by certified mail, knowingly or willfully: 1. Neglects to perform any duty required by this chapter or other applicable law; or 2. Fails to conform to any material lawful requirement made by the […]
NRS 669A.310 – Confidentiality of certain records and documents; authority of Commissioner to use discretion in determining disclosure.
1. Except as otherwise provided in this section, any application and personal or financial records submitted by a person pursuant to the provisions of this chapter, any personal or financial records or other documents obtained by the Division of Financial Institutions pursuant to an examination or audit conducted by the Division pursuant to this chapter […]
NRS 669A.250 – Fidelity bonds; insurance.
1. The directors or managers of a licensed family trust company shall obtain fidelity bonds in such amounts as they shall determine on any active officers, managers, members acting in a managerial capacity and employees, whether or not they receive a salary or other compensation from the licensed family trust company, to indemnify the licensed […]
NRS 669A.255 – Annual and final reports; allocation to income.
1. Except as otherwise provided in subsection 4, a family trust company or licensed family trust company, while acting as the fiduciary of a trust, shall provide an annual report to each beneficiary who is entitled to an account under the terms of the trust or applicable law for each year of the existence of […]
NRS 669A.256 – Sealing of trust documents.
1. In any court proceeding relating to a trust or estate, the family trust company, licensed family trust company, other fiduciary of the trust, settlor or any beneficiary, may petition the court to order the following trust documents to be sealed: (a) Any trust instruments; (b) Any inventories; (c) Any accounts; (d) Any statements filed […]
NRS 669A.257 – Privileged communications; applicability of attorney-client relationship.
1. Any communication between an attorney and a family trust company or licensed family trust company acting as a fiduciary is privileged and protected from disclosure to the same extent as if the client were acting in his or her individual capacity. 2. The privilege is not waived by: (a) A fiduciary relationship between the […]