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Current as of January 01, 2025 | Updated by Findlaw Staff
1. There is a rebuttable presumption that a company which directly or indirectly owns, controls or has the power to vote less than 10 percent of the voting stock of, or members' interests in, a bank does not control the bank.
2. An estate, trust, guardianship or conservatorship is not by virtue of its ownership or control of stock of, or members' interests in, a bank, a bank holding company unless it is:
(a) A business trust; or
(b) A voting trust which by its terms or by law does not expire within 10 years after the date of its establishment.
3. A company is not a bank holding company by virtue of its ownership or control of stock or a member's interest which:
(a) Was acquired in the ordinary course of securing or collecting a debt which the company previously contracted in good faith; and
(b) Is held only as long as is necessary to sell the stock on a reasonable basis.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 55. Banks and Related Organizations § 666.075. Rebuttable presumption against control of bank; certain legal relationships and companies deemed not to be bank holding companies - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-55-banks-and-related-organizations/nv-rev-st-666-075/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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