Nevada Revised Statutes 659.125 – Unlawful use of words ‘bank,’ ‘banking’ or ‘banker’ in name; exceptions; penalty
1. A business entity may not be organized under the laws of this State with the words ‘bank’ or ‘banking’ as part of its name except corporations or limited-liability companies subject to regulation pursuant to chapters 657 to 668, inclusive, 673 or 677 of NRS, or corporations under the regulation of the Commissioner of Insurance. A corporate or company name must not be amended to include the words ‘bank’ or ‘banking’ unless the corporation or company is under such regulation.
Terms Used In Nevada Revised Statutes 659.125
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. Except as otherwise provided in subsection 3, a natural person, association, firm or corporation domiciled within this State, except a national bank or a banking corporation subject to regulation pursuant to chapters 657 to 668, inclusive, 673 or 677 of NRS, or under the regulation of the Commissioner of Insurance, may not advertise or put forth any sign as bank, banking or banker or use the word ‘bank,’ ‘banking’ or ‘banker’ as part of its name and title.
3. A thrift company subject to the provisions of chapter 677 of NRS may use the words ‘savings bank’ as part of its name if its deposits are federally insured.
4. Any person who violates any of the provisions of this section shall be fined not more than $500 for each offense.