NRS 683A.231
Licensing of bank.
1.
For the purposes of this section:(a)
“Affiliate” means a person that directly, or indirectly through one or more intermediaries, is controlled by, or is under common control with, a bank.(b)
“Bank” means any institution that accepts deposits that the depositor has a legal right to withdraw on demand.(c)
“Financial holding company” means a bank holding company as defined in section 4(l)(2) of the Bank Holding Company Act of 1956, 12 U.S.C. § 1841(l)(1).(d)
“Parent” means a person that owns or controls a bank, directly or indirectly, in whole or in part.(e)
“Subsidiary” means a person owned or controlled by a bank, directly or indirectly, in whole or in part.2.
A bank may be licensed as a producer of insurance in this state:(a)
To the extent permitted by Title V of Public Law 106-102, 15 U.S.C. §§ 6801 et seq.; and(b)
For credit insurance, as defined in NRS 690A.015, and credit property insurance.3.
A bank must not be licensed or admitted as an insurer.4.
The provisions of subsection 3 do not prohibit the licensing by the Commissioner of an affiliate, financial holding company, parent or subsidiary of a bank to sell insurance or be admitted as an insurer.
Source:
Section 683A.231 — Licensing of bank., https://www.leg.state.nv.us/NRS/NRS-683A.html#NRS683ASec231.