Title 55

NRS 657A.340 Period of testing. Unless a timely request for an extension of the period of testing is made and approved pursuant to NRS 657A.350: 1. The period of testing for a financial product or service ends 2 years after the date of the notice given pursuant to NRS 657A.420. 2…

NRS 657A.350 Request for extension of period of testing: Procedure; requirements; approval or denial by Director; report on extension. 1. A participant may request an extension of the period of testing to apply for any license or other authorization required for the financial pro…

NRS 657A.400 Application to participate; requirements for application; fee. 1. A person who desires to participate in the Program to test a financial product or service must submit a written application in accordance with this section, in the form prescribed by the Director. A se…

NRS 657A.410 Director may refuse incomplete application; applicant required to provide additional information upon request; Director required to consult with certain regulators; timeline to approve or deny application. 1. The Director may refuse to consider any application submit…

NRS 657A.420 Approval or denial of application; notice of approval or denial. 1. Except as otherwise provided in this subsection, the Director may approve or deny any application or request submitted pursuant to this chapter. The Director may not approve an application or request…

NRS 657A.430 Issuance of registration upon approval of application; conditional approval of application. 1. If the Director approves an application to participate in the Program: (a) The applicant shall be deemed a participant. (b) The Director shall issue a registration number u…

NRS 657A.500 Regulations concerning reporting; required records and reporting; participant to notify Director of failed product or service or unauthorized acquisition of computerized data. 1. The Director may establish by regulation periodic reporting requirements for participant…

NRS 657A.510 Confidentiality of records and information; immunity from liability for Director and applicable regulators concerning disclosure of certain records and information; admissibility of certain records and information. 1. Any record or information in a record submitted t…

NRS 657A.520 Electronic form of certain information; substitution of certain information. Any information, writing, signature, record or disclosure required by the provisions of this chapter or any regulation adopted pursuant thereto, may: 1. Be obtained, recorded, provided or ma…

NRS 657A.530 Report by Director to Legislature. 1. On or before March 1 of each year, the Director of the Department of Business and Industry shall prepare and submit to the Director of the Legislative Counsel Bureau, for transmittal to the Legislature, a report on the operation …

NRS 657A.600 Establishment of toll-free telephone number and Internet website for complaints. The Director shall establish and maintain a toll-free telephone number and Internet website through which a consumer may submit a complaint relating to any financial product or service p…

NRS 657A.610 Powers of Director to enforce chapter. 1. If the Director has reasonable cause to believe that a participant has engaged in, is engaging in or threatens to engage in any act or omission in violation of any provision of this chapter or any other applicable statute or …

NRS 657A.620 Powers of Director to take action relating to certain acts or omissions of participants. 1. If the Director has reasonable cause to believe that a participant has engaged in, is engaging in or threatens to engage in any act or omission that the Director determines is…

NRS 658.015 Administration of provisions of certain chapters. The Commissioner and the Division of Financial Institutions shall administer the provisions of chapters 657 to 671, inclusive, of NRS, subject to administrative supervision by the Director of the Department of Business…

NRS 658.021 Commissioner: Qualifications; restrictions on other employment. The Commissioner: 1. Must be a person who has had practical experience in banking, savings and loan associations, savings banks or other financial institutions. 2. Except as otherwise provided in NRS 284.…

NRS 658.025 Commissioner prohibited from having interest in bank or regulated corporation. The Commissioner must not, either directly or indirectly, be interested in any bank or corporation to which chapters 657 to 671, inclusive, of NRS are applicable, except as a depositor, nor…

NRS 658.035 Oath of Commissioner. After appointment and before entering upon the discharge of the duties of office, the Commissioner shall take and subscribe to an official oath. (Added to NRS by 1971, 966; A 1975, 351; 1983, 1722; 1987, 1898)

NRS 658.045 Office. The Division of Financial Institutions must be furnished with suitable offices for the performance of its duties. (Added to NRS by 1971, 966; A 1983, 1722)

NRS 658.055 Deputy commissioners; other employees; independent audits and examinations; assessments; Account for Auditing Financial Institutions. 1. The Commissioner may appoint deputy commissioners of financial institutions, examiners, assistants, clerks, stenographers and other…

NRS 658.065 Oath of deputy commissioners. Every deputy commissioner of financial institutions shall, before entering upon the discharge of duties, take and subscribe to the constitutional oath of office. (Added to NRS by 1971, 966; A 1983, 1722; 1987, 1898)

NRS 658.085 Advisory capacity of State Board of Finance. The State Board of Finance shall act in an advisory capacity to the Division of Financial Institutions in the administration of the provisions of chapters 657 to 671, inclusive, of NRS and perform such other functions as ar…

NRS 658.091 Deposit, use and disposition of money; Commissioner to administer account. 1. Except as otherwise provided by law, any money appropriated to the Commissioner or the Division of Financial Institutions and any money collected by the Commissioner or Division pursuant to …

NRS 658.096 Fees charged by Commissioner; regulations. 1. The Commissioner shall charge and collect the following fees in connection with the Commissioner’s official duties: (a) For licensing of state banks: (1) A fee of not more than $400 for each parent bank, payable on June 30…

NRS 658.098 Assessment for cost of legal services provided to Commissioner and Division of Financial Institutions; deposit of money in State Treasury. 1. On a quarterly or other regular basis, the Commissioner shall collect an assessment pursuant to this section from each: (a) Ch…

NRS 658.101 Rates charged by Commissioner for supervision and examination; annual review and publication of rates. 1. The Commissioner shall establish by regulation rates to be paid by banks and other financial institutions for supervision and examinations by the Commissioner or …

NRS 658.105 Powers of Commissioner; regulations. In addition to the other powers conferred upon the Commissioner by chapters 657 to 671, inclusive, of NRS, the Commissioner: 1. Is charged with the enforcement of the provisions of chapters 657 to 671, inclusive, of NRS, subject to…

NRS 658.115 Summary orders of Commissioner. 1. The Commissioner shall make summary orders in writing as provided in subsections 2 to 5, inclusive. 2. If a bank, a member of its board of directors or any manager, officer, employee, member or stockholder violates the articles of in…

NRS 658.125 Appeals to State Board of Finance. Any bank aggrieved by any decision or order issued by the Commissioner or any member of the Commissioner’s staff must appeal to the State Board of Finance if a review of the decision or order is desired. The appeal must be made withi…

NRS 658.135 Attestation of licenses, orders and certificates. All licenses, orders and certificates issued by the Commissioner must be attested by the seal of the Division of Financial Institutions and by the signature of the Commissioner. (Added to NRS by 1971, 968; A 1983, 1724…

NRS 658.145 Power of Commissioner to offer rewards. 1. The Commissioner may offer, under such conditions as the Commissioner may deem proper, rewards not to exceed the sum of $500 in any one case for the arrest and conviction of any officer, director, agent or employee of any ban…

NRS 658.151 Power of Commissioner to take possession of business and property of depository institution; grounds. 1. The Commissioner may forthwith take possession of the business and property of any depository institution to which this title applies when it appears that the depo…

NRS 658.155 Penalty: Neglect of duty under certain chapters; false or injurious statement concerning bank; malfeasance or corruption in office. Any member of the State Board of Finance, the Commissioner or any member of the Commissioner’s staff, who willfully neglects to perform …

NRS 658.165 Officers and employees of Division of Financial Institutions prohibited from having interest in certain banks; exceptions; termination of interest. 1. Except as otherwise provided in subsections 3 and 4, an officer or employee of the Division of Financial Institutions…

NRS 658.175 State Board of Finance bound by limitations imposed on Commissioner as to certification of new banks and establishment of branch banks. Notwithstanding any other provisions of chapters 657 to 671, inclusive, of NRS, the State Board of Finance, in the exercise of its a…

NRS 658.185 Incidental powers of Commissioner. In addition to the express powers, duties and functions given to the Commissioner by chapters 657 to 671, inclusive, of NRS, the Commissioner has such other powers and rights as may be necessary or incident to the proper discharge of…

NRS 658.190 Regulations concerning nontraditional mortgage loan products and certain lending practices. 1. The Commissioner of Financial Institutions shall, with the cooperation of the Commissioner of Mortgage Lending, adopt regulations concerning nontraditional mortgage loan pro…

NRS 658.195 Right to sue and defend in actions involving banks; liability to suit. 1. The Commissioner may sue and prosecute or defend in any action or proceeding in any court of this State or any other state and in any court of the United States for the enforcement or protection…

NRS 658.200 Nontraditional mortgage loan products; disclosures required. 1. A financial institution which is required to be licensed pursuant to the provisions of this title and which offers nontraditional mortgage loan products that are secured by liens on real property shall, w…

NRS 659.015 Requirements for organization by person, existing corporation or existing limited-liability company. 1. One or more persons who desire to form a bank and engage in the business of establishing, maintaining and operating banks of discount and deposit, savings, time and…

NRS 659.025 Articles of incorporation or organization: Contents. The articles of incorporation or organization must, in addition to the requirements prescribed in chapters 78 and 86 of NRS, set forth the nature of the business of the corporation or limited-liability company. (Add…

NRS 659.035 Delivery of articles of incorporation or organization for filing; delivery of certificate of amendment of articles by existing corporation or limited-liability company for filing; restriction on filing. 1. If the proposed bank is not an existing corporation or limited…

NRS 659.045 Examination and certification of proposed bank by Commissioner; payment and deposit of fees and expenses; regulations. 1. Upon receipt of a copy of the articles of incorporation or organization or the certificate of amendment of the articles of incorporation or organi…

NRS 659.047 Payment of assessment; cooperation with audits and examinations. Each bank shall pay the assessment levied pursuant to NRS 658.055 and cooperate fully with the audits and examinations performed pursuant thereto. (Added to NRS by 1987, 826)

NRS 659.055 Appeal from refusal to make certification. Any person aggrieved by any decision of the Commissioner made under NRS 659.045 may appeal to the State Board of Finance if a review of the decision is desired. The appeal must be made within 15 days after the Commissioner ma…

NRS 659.065 Filing of articles of incorporation or organization; filing of certificate of amendment of articles; effect of filing; admissibility of articles as evidence; limitation on validity. 1. Upon receipt of the certification from the Commissioner, the Secretary of State sha…

NRS 659.075 Payment of initial stockholders’ or members’ equity; sale of stock or solicitation of contributions to bank in process of organization. 1. Subject to subsection 2, the initial stockholders’ or members’ equity of a bank must be fully paid in, in cash, before it is auth…