1. Except as otherwise provided in subsection 2, no person or organization formed and doing business under the laws of this State or any other state may:
(a) Use the word “trust” or any direct derivative of that word as a part of its name.
(b) Advertise or use any sign with the word “trust” used as a part of its name.
2. The provisions of subsection 1 do not apply to a person or organization which:
(a) Is supervised by the Commissioner of Financial Institutions pursuant to this chapter or chapters 657 to 668, inclusive, 673 or 677 of NRS;
(b) Is doing business under the laws of the United States or another state relating to banks, savings banks, savings and loan associations or thrift companies;
(c) Is authorized to engage in the solicitation of trust company business in this State pursuant to NRS 669.205;
(d) Is authorized to act as a fiduciary or solicit trust company business pursuant to NRS 669.207 or establish and maintain a retail trust company office and engage in the business of a trust company in this State pursuant to NRS 669.209;
(e) Is acting under an appointment pursuant to NRS 662.245;
(f) Is supervised by the Commissioner of Insurance; or
(g) Is doing business solely as a community land trust.
3. As used in this section, “community land trust” has the meaning ascribed to it in NRS 82.106.
(Added to NRS by 1983, 466; A 1985, 357; 1987, 1942; 1999, 844; 2007, 93; 2017, 560)