“Qualified financial institution in the United States” defined.

NRS 681A.140 “Qualified financial institution in the United States” defined. As used in NRS 681A.140 to 681A.240, inclusive, “qualified financial institution in the United States” means an institution that: 1. Is organized, or in the case of a branch or agency of a foreign banking organization in the United States licensed, under the laws of the United States or any state thereof and has been granted authority to operate with fiduciary powers; 2. Is regulated, supervised and examined by federal or state authorities having regulatory authority over banks and trust companies; 3. Is determined: (a) By the Commissioner to meet the standards of financial condition and standing prescribed by the Commissioner; or (b) By the National Association of Insurance Commissioners to meet the standards of financial condition and standing prescribed by the National Association of Insurance Commissioners; and 4. Is determined by the Commissioner to be otherwise acceptable. (Added to NRS by 1995, 1756; A 2013, 3351; 2015, 3385; 2017, 2336)