Nevada Revised Statutes 681A.140 – ‘Qualified financial institution in the United States’ defined
As used in NRS 681A.140 to 681A.240, inclusive, ‘qualified financial institution in the United States’ means an institution that:
Terms Used In Nevada Revised Statutes 681A.140
- Fiduciary: A trustee, executor, or administrator.
1. Is organized, or in the case of a branch or agency of a foreign banking organization in the United States licensed, under the laws of the United States or any state thereof and has been granted authority to operate with fiduciary powers;
2. Is regulated, supervised and examined by federal or state authorities having regulatory authority over banks and trust companies;
3. Is determined:
(a) By the Commissioner to meet the standards of financial condition and standing prescribed by the Commissioner; or
(b) By the National Association of Insurance Commissioners to meet the standards of financial condition and standing prescribed by the National Association of Insurance Commissioners; and
4. Is determined by the Commissioner to be otherwise acceptable.