Nevada Banks and Related Organizations; Other Financial Institutions

Sec. § 671.050
Application for license: Contents; bond or securities; financial statement; fees; regulations; withdrawal of application.


1.

Every application for a license required pursuant to this chapter must be in writing, signed by the applicant, and in the form prescribed by the Commissioner.

2.

The application must contain:

(a)

The name and principal business address of the applicant and, if incorporated, the date and place of its incorporation;

(b)

The name and address of each of the applicant’s branch offices, subsidiaries or affiliates, if any, which will be operated under the license;

(c)

The name and addresses, business and residential, of the proprietor or partners of the applicant or, if the applicant is a corporation or association, of each of the directors, trustees and principal officers, and of any stockholder who owns 20 percent or more of the applicant’s stock; and

(d)

Such other pertinent information as the Commissioner requires.

3.

The application must be accompanied by:

(a)

A surety bond or securities as required by this chapter.

(b)

A certified financial statement, satisfactory to the Commissioner, showing that the applicant’s net worth exceeds $100,000, unless the applicant’s surety bond or the securities deposited pursuant to NRS 671.110 are in at least twice the minimum principal sum required by NRS 671.100.

(c)

A nonrefundable fee of not more than $500 for the application and survey. The applicant shall also pay such additional expenses incurred in the process of investigation as the Commissioner deems necessary.

(d)

A fee of not less than $200 or more than $400, prorated on the basis of the licensing year as provided by the Commissioner.

4.

The Commissioner shall adopt regulations establishing the amount of the fees required pursuant to this section. All money received by the Commissioner pursuant to this section must be placed in the Investigative Account created by NRS 232.545.

5.

The Commissioner shall consider an application to be withdrawn if the Commissioner has not received all information and fees required to complete the application within 6 months after the date the application is first submitted to the Commissioner or within such later period as the Commissioner determines in accordance with any existing policies of joint regulatory partners. If an application is deemed to be withdrawn pursuant to this subsection or if an applicant otherwise withdraws an application, the Commissioner may not issue a license to the applicant unless the applicant submits a new application and pays any required fees.
Source

Last accessed
Feb. 5, 2021