Nevada Banks and Related Organizations; Other Financial Institutions

Sec. § 659.125
Unlawful use of words “bank,” “banking” or “banker” in name; exceptions; penalty.


1.

A business entity may not be organized under the laws of this State with the words “bank” or “banking” as part of its name except corporations or limited-liability companies subject to regulation pursuant to chapters 657 to 668, inclusive, 673 or 677 of NRS, or corporations under the regulation of the Commissioner of Insurance. A corporate or company name must not be amended to include the words “bank” or “banking” unless the corporation or company is under such regulation.

2.

Except as otherwise provided in subsection 3, a natural person, association, firm or corporation domiciled within this State, except a national bank or a banking corporation subject to regulation pursuant to chapters 657 to 668, inclusive, 673 or 677 of NRS, or under the regulation of the Commissioner of Insurance, may not advertise or put forth any sign as bank, banking or banker or use the word “bank,” “banking” or “banker” as part of its name and title.

3.

A thrift company subject to the provisions of chapter 677 of NRS may use the words “savings bank” as part of its name if its deposits are federally insured.

4.

Any person who violates any of the provisions of this section shall be fined not more than $500 for each offense.
Source

Last accessed
Feb. 5, 2021