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Nevada Revised Statutes Title 55. Banks and Related Organizations § 666A.080. State branch or agency: License required; exemptions from licensing

Current as of January 01, 2025 | Updated by Findlaw Staff

1. Except as otherwise provided in subsection 2, a foreign bank shall not transact business in this state except at a state branch or agency for which it has been issued a license pursuant to this chapter.

2. A foreign bank:

(a) Which maintains a federal branch or agency in this state may transact business authorized under federal law or regulation in that branch or agency.

(b) Which does not maintain a state branch or agency may make loans in this state secured by real property in this state.

(c) Organized under the law of a territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands may operate an interstate branch in this state as if it were a state bank.

3. Transaction of business by a subsidiary of a foreign bank does not constitute transaction of business by the parent bank.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 55. Banks and Related Organizations § 666A.080. State branch or agency: License required; exemptions from licensing - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-55-banks-and-related-organizations/nv-rev-st-666a-080/

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