§ 666.325 — Examination, supervision and regulation of interstate operations

Nevada § 666.325

• Jurisdiction: Nevada
• Title 55: BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL
• Ch. 666: Major

Text

1. The Commissioner may examine and supervise any out-of-state depository institution or holding company which has been authorized to do business in this state. Such institutions and holding companies are subject to regulation in the same manner as institutions and holding companies organized under the laws of this state and must pay the same fees for supervision and examination, except that the Commissioner may coordinate these activities with any state or federal agency that shares jurisdiction over the institution.
2. The Commissioner may coordinate the examination, supervision and regulation of any depository institution chartered by this state with the examination, supervision and regulation of an affiliated depository institution or branch operating in another state.
3. The Commissioner may take any reasonable and lawful action in furtherance of coordinating the regulation of interstate operations pursuant to this section, including:
(a) Negotiating and entering into cooperative agreements with an agency of another state or of the Federal Government;
(b) Sharing information and reports with an agency that shares jurisdiction over the institution;
(c) Accepting as sufficient examination reports and other information compiled or generated by or for an agency that shares jurisdiction over the institution;
(d) Contracting with an agency that shares jurisdiction over the institution to engage the services of its examiners at a reasonable rate of compensation;
(e) Offering the services of the Division’s examiners at a reasonable rate of compensation to an agency that shares jurisdiction over the institution;
(f) Collecting fees on behalf of, or receiving payment of fees through, an agency that shares jurisdiction over the institution;
(g) Cooperating in any other way with other supervisory agencies and professional associations to promote the efficient, safe and sound operation and regulation of interstate activities of depository institutions, including the formulation of interstate policies and procedures for examination and the drafting of model laws, rules and agreements; and
(h) Adopting regulations to carry out the provisions of this section.

Legislative History

(Added to NRS by 1985, 2152 ; A 1985, 2160 ; 1987, 1936 , 2023 ; 1995, 1559 )