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Nevada Revised Statutes Title 55. Banks and Related Organizations § 670B.230. Investigation of applicant; issuance of license

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

Except as otherwise provided in NRS 670B.240, upon the filing of an application for an initial license and the payment of the license fee and the investigation fee and submission of the surety bond required by section NRS 670B.210, the Commissioner shall investigate the financial condition and responsibility, financial and business experience, character and general fitness of the applicant. The Commissioner may issue a license if the Commissioner finds that:

1. The applicant's financial condition is sound;

2. The applicant's business will be conducted honestly, fairly, equitably, carefully and efficiently within the purposes and intent of this chapter and in a manner commanding the confidence and trust of the community;

3. If the applicant is:

(a) A natural person, the person is in all respects properly qualified and of good character;

(b) A partnership, each partner is in all respects properly qualified and of good character;

(c) A corporation or association, the president, chairperson of the executive committee, senior officer responsible for the corporation's business and chief financial officer or any other person who performs similar functions as determined by the Commissioner, each director, each trustee and each shareholder owning 10 percent or more of each class of the securities of such corporation is in all respects properly qualified and of good character; or

(d) A limited liability company, each member is in all respects properly qualified and of good character;

4. No person on behalf of the applicant knowingly has made any incorrect statement of a material fact in the application, or in any report or statement made pursuant to this chapter;

5. No person on behalf of the applicant knowingly has omitted to state any material fact necessary to give the Commissioner any information lawfully required by the Commissioner;

6. The applicant has paid the license fee and the investigation fee and submitted the surety bond required by 670B.210; and

7. The applicant has met any other requirements set forth by the Commissioner in regulations adopted pursuant to this chapter.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 55. Banks and Related Organizations § 670B.230. Investigation of applicant; issuance of license - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-55-banks-and-related-organizations/nv-rev-st-670b-230/

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