NRS 463.175
Exemption of bank or trustee of employee stock ownership plan acting as fiduciary from certain requirements

  • limitation.

1.

As used in this section:

(a)

“Bank” means a national banking association that is authorized to do business in this State, a banking corporation formed or regulated under the laws of this State or a trust company formed or regulated under the laws of this State.

(b)

“Employee stock ownership plan” means a type of profit-sharing plan that invests primarily in the employer’s stock.

(c)

“Fiduciary” means an executor, an administrator, a special administrator, a trustee of an inter vivos trust, a trustee of a testamentary trust, a trustee of an employee stock ownership plan, an escrow agent, a depositary or any combination thereof.

2.

The Commission may, selectively or by general regulation, at any time and from time to time, exempt a bank or trustee of an employee stock ownership plan acting as a fiduciary from all or any portion of the requirements of NRS 463.160, 463.162, 463.167, 463.170, and 463.490 to 463.645, inclusive, and from the regulations adopted thereunder.

3.

The Commission may, upon the recommendation of the Board or upon its own undertaking, grant, deny, limit, condition, restrict, revoke or suspend any exemption or application for exemption pursuant to subsection 2 for any reasonable cause.

4.

An exemption granted pursuant to subsection 2 is a revocable privilege, and no person may acquire any vested rights therein or thereunder.

Source: Section 463.175 — Exemption of bank or trustee of employee stock ownership plan acting as fiduciary from certain requirements; limitation., https://www.­leg.­state.­nv.­us/NRS/NRS-463.­html#NRS463Sec175.

463.160
Licenses required 463.161
License to operate 15 or fewer slot machines: Conditions. 463.162
State gaming license required where equipment, services or property delivered or furnished for gaming interest or revenue 463.163
Operation of gaming device in restricted area of public transportation facility: Prior approval of Board required. 463.165
Licensing of certain persons having significant influence over gaming operation of licensee 463.166
Contracts or agreements with certain unsuitable or unlicensed persons prohibited 463.167
Suitability or licensing of certain persons furnishing services or property or doing business with gaming licensee 463.168
Suitability of certain persons providing transmission services in association with licensee 463.169
Registration or licensing of person conducting certain tournaments or contests in association with gaming licensee 463.170
Qualifications for license, finding of suitability or approval 463.172
Power of Chair to approve transfer of interest in license, registration, finding of suitability or approval to or from inter vivos trust 463.173
Restrictions on person denied license or found unsuitable. 463.174
Board to maintain list of unsuitable and unlicensed persons 463.175
Exemption of bank or trustee of employee stock ownership plan acting as fiduciary from certain requirements 463.177
Exemption of governing body leasing portion of facility for public transportation for operation of slot machines. 463.180
Qualifications for county license. 463.190
Qualifications for municipal license. 463.200
Application for state license: Contents 463.210
Investigation of applicant 463.220
Action by Commission on application 463.225
Issuance of state licenses 463.230
Issuance of county license. 463.240
State license prerequisite to county or municipal license 463.242
Preparation by Board of basic form of application and supporting documents for licensing by county and city. 463.245
Single establishment not to contain more than one licensed operation 463.250
Taxing powers preserved. 463.260
Posting and inspection of licenses. 463.270
Renewal of state license 463.280
Renewal of county license. 463.290
Report furnished by licensee. 463.300
Unlawful transfer of ownership. 463.302
Moving location of establishment and transferring restricted or nonrestricted license: Exclusive authority of Board to approve 463.305
Approval of gaming device or inter-casino linked system required 463.306
Availability of inter-casino linked system to certain nonrestricted licensees. 463.307
Permissible wagering instrumentalities. 463.1605
Limitation on approval of nonrestricted license in county whose population is 100,000 or more 463.1625
Preliminary finding of suitability 463.1665
Licensing, registration, suitability or approval of applicants who are governmental entities or owned or controlled by governmental entities.
Last Updated

Jun. 24, 2021

§ 463.175’s source at nv​.us