Title 55

NRS 657.037 “Depository institution” defined. “Depository institution” means any bank, savings and loan association, savings bank, thrift company, credit union or other institution, whether chartered by this State, another state or the Federal Government, which: 1. Holds or recei…

NRS 657.039 “Derivative transaction” defined. “Derivative transaction” has the meaning ascribed to it in 12 U.S.C. § 84(b)(3). (Added to NRS by 2013, 636)

NRS 657.040 “Division of Financial Institutions” defined. “Division of Financial Institutions” means the Division of Financial Institutions of the Department of Business and Industry. (Added to NRS by 1983, 1721; A 1993, 1894)

NRS 657.045 “Insolvency” defined. “Insolvency” means one or more of the following: 1. When a bank cannot meet its deposit liabilities as they become due in the regular course of business. 2. When the actual cash market value of a bank’s assets is insufficient to pay its liabiliti…

NRS 657.055 “Net earnings” defined. “Net earnings” means the excess of the gross earnings of any bank over the expenses and losses chargeable against such earnings. (Added to NRS by 1971, 965)

NRS 657.058 “Nevada” defined. “Nevada” when used to modify: 1. The word “bank” or the term “depository institution” means organized under the laws of this State; and 2. The term “national bank” means having its headquarters within this State. (Added to NRS by 1995, 1549)

NRS 657.064 “Savings deposit” defined. “Savings deposit” means a deposit or account: 1. With respect to which the depository institution may require the depositor to give written notice of withdrawal not less than 7 days before a withdrawal, but from which the depositor may other…

NRS 657.070 “Stockholders’ equity” and “members’ equity” defined. “Stockholders’ equity” or “members’ equity” means the capital, surplus and retained earnings of a bank. (Added to NRS by 1997, 974)

NRS 657.075 “Surplus” defined. “Surplus” means a fund created pursuant to the provisions of chapters 657 to 671, inclusive, of NRS by a bank from payments by stockholders or members or from the bank’s net earnings or undivided profits which, to the amount specified and by any add…

NRS 657.085 “Time deposit” defined. “Time deposit” means a deposit which: 1. The depositor does not have a right to withdraw for a period of 7 days or more after the date of deposit; and 2. Is payable at the expiration of a specified time not less than 7 days after the date of de…

NRS 657.095 Applicability of chapters 78, 86 and 92A of NRS. The provisions of chapters 78, 86 and 92A of NRS that are not in conflict with chapters 657 to 671, inclusive, of NRS are hereby adopted as a part of chapters 657 to 671, inclusive, of NRS. (Added to NRS by 1971, 966; A…

NRS 657.097 Applicability of provisions concerning Regulatory Experimentation Program for Product Innovation. Except as otherwise required by the Director of the Department of Business and Industry pursuant to NRS 657A.430 or 657A.620, the provisions of chapters 657 to 671, inclu…

NRS 657.105 Effect of certain chapters on powers, privileges, duties and restrictions of corporations, companies, associations and natural persons. 1. The powers, privileges, duties and restrictions conferred and imposed upon any corporation, company, association or natural perso…

NRS 657.110 Certain mortgagees and beneficiaries of deeds of trust to provide contact information to the Division of Financial Institutions; Division of Financial Institutions to maintain information on its Internet website. 1. Each mortgagee or beneficiary of a deed of trust und…

NRS 657.120 Fees and charges: Imposition and collection by financial institution; limitations. 1. A financial institution may impose and collect a fee or charge, not to exceed an amount specified in or limited by specific statute, for any service it provides to a customer, if the…

NRS 657.130 Committees to review compliance: Definitions; confidentiality and privilege. 1. As used in this section, unless the context otherwise requires: (a) “Committee to review compliance” means one or more persons assigned or engaged by a financial institution to test, revie…

NRS 657.140 Loan agreements: Certain provisions for recovery prohibited; exceptions. 1. Except as otherwise provided in subsection 2, a financial institution shall not include in any loan agreement a provision that allows the financial institution to recover, take, appropriate or…

NRS 657.150 Definitions. As used in NRS 657.150 to 657.290, inclusive, unless the context otherwise requires, the words and terms defined in NRS 657.160 and 657.170 have the meanings ascribed to them in those sections. (Added to NRS by 2005, 1841; A 2007, 1490; 2023, 3469)

NRS 657.160 “Financial institution” defined. “Financial institution” means a depository institution or any other institution regulated pursuant to chapters 657 to 671, inclusive, of NRS. The term includes, without limitation, a holding company, affiliate or subsidiary of such an …

NRS 657.170 “License” defined. “License” means any license, certificate, registration, permit or similar type of authorization. (Added to NRS by 2005, 1841) Licenses; Business Names; Investigations

NRS 657.180 License to operate or manage: Additional requirements; fingerprints; grounds for refusal to issue license. 1. In addition to any other requirements set forth by specific statute, each person who applies for a license to operate a financial institution and each person …

NRS 657.185 License to establish new depository institution: Commissioner prohibited from requiring identification of physical address of main office in application for license; authority of Commissioner to require identification of general location of main office in application …

NRS 657.190 Suspension or revocation of license to operate or manage: Additional grounds. In addition to any other lawful reasons, the Commissioner may suspend or revoke a license to operate a financial institution if the person who holds the license or any person who serves as a…

NRS 657.200 Use or change of business name; prohibitions. 1. A financial institution must obtain the approval of the Commissioner before using or changing a business name. 2. A financial institution shall not: (a) Use any business name which is identical or similar to a business …

NRS 657.210 Authorization of Commissioner to investigate business; free access required; compelling attendance of witnesses; fees. 1. For the purpose of discovering violations of chapters 657 to 671, inclusive, of NRS or of securing information lawfully required under chapters 65…

NRS 657.220 Definitions. As used in NRS 657.220 to 657.290, inclusive, unless the context otherwise requires, the words and terms defined in NRS 657.230 to 657.270, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2007, 1488)

NRS 657.230 “Designated reporter” defined. “Designated reporter” means a person designated by a financial institution to receive reports of known or suspected exploitation of an older person or vulnerable person pursuant to NRS 657.290. (Added to NRS by 2007, 1488)

NRS 657.240 “Exploitation” defined. “Exploitation” has the meaning ascribed to it in NRS 200.5092. (Added to NRS by 2007, 1488; A 2015, 840)

NRS 657.250 “Older person” defined. “Older person” has the meaning ascribed to it in NRS 200.5092. (Added to NRS by 2007, 1488; A 2015, 840)

NRS 657.260 “Reasonable cause to believe” defined. “Reasonable cause to believe” has the meaning ascribed to it in NRS 200.50925. (Added to NRS by 2007, 1489)

NRS 657.270 “Vulnerable person” defined. “Vulnerable person” has the meaning ascribed to it in NRS 200.5092. (Added to NRS by 2007, 1489; A 2015, 840)

NRS 657.280 Training; reporting to designated reporter. 1. Each financial institution shall provide training concerning the identification and reporting of the suspected exploitation of an older person or vulnerable person to each officer and employee of the financial institution…

NRS 657.290 Designated reporter: Designation; duty to report; authority to delay disbursement or transaction; expiration of delay; immunity; considerations in determining whether exploitation has occurred. 1. Each financial institution shall designate a person or persons to whom …

NRS 657A.100 Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 657A.110 to 657A.180, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2019, 3985)

NRS 657A.110 “Applicable regulator” defined. “Applicable regulator” means the Commissioner of Mortgage Lending, the Division of Mortgage Lending of the Department of Business and Industry, the Commissioner of Financial Institutions or the Division of Financial Institutions of the…

NRS 657A.120 “Consumer” defined. “Consumer” means any person who purchases or otherwise enters into a transaction or agreement to receive a financial product or service. (Added to NRS by 2019, 3985)

NRS 657A.130 “Director” defined. “Director” means the Director of the Department of Business and Industry. (Added to NRS by 2019, 3985)

NRS 657A.140 “Financial product or service” or “product or service” defined. “Financial product or service” or “product or service” means any product, service, activity, business model, mechanism for delivery or element of any of these that: 1. Includes an innovation; and 2. But …

NRS 657A.150 “Innovation” defined. “Innovation” means any use of a new or emerging technology, or any novel use of an existing technology, to address a problem, provide a benefit or otherwise offer or provide a financial product or service that is determined by the Director not t…

NRS 657A.160 “Participant” defined. “Participant” means a person whose application to participate in the Program has been approved by the Director pursuant to NRS 657A.420. (Added to NRS by 2019, 3986)

NRS 657A.170 “Program” defined. “Program” means the Regulatory Experimentation Program for Product Innovation established and administered by the Director pursuant to this chapter. (Added to NRS by 2019, 3986)

NRS 657A.180 “Test” defined. “Test” means to offer or provide a financial product or service through the Program. (Added to NRS by 2019, 3986) ADMINISTRATION OF PROGRAM

NRS 657A.200 Establishment of Program. In consultation with each applicable regulator, the Director shall establish and administer the Regulatory Experimentation Program for Product Innovation to enable a person to obtain limited access to markets in this State to test a financia…

NRS 657A.210 Regulations. 1. The Director shall, in consultation with the Consumer’s Advocate of the Bureau of Consumer Protection in the Office of the Attorney General and the applicable regulator, adopt regulations that establish protections for consumers of financial products …

NRS 657A.220 License or authorization from other jurisdiction; Director may enter into agreements concerning license or authorization. 1. Nothing contained in this chapter shall be deemed to prohibit a participant who holds a license or other authorization in another jurisdiction…

NRS 657A.230 Participant deemed to hold a license or other authorization. For the purposes of any federal statute or regulation requiring a participant to hold a license or other authorization from this State in connection with a financial product or service, a participant shall …