Nevada § 681A.140 “Qualified financial institution in the United States” defined

Nevada Statutes

§ 681A.140 — “Qualified financial institution in the United States” defined

Nevada § 681A.140

Title 57INSURANCE

Ch. 681AKinds

Credit as Asset or Deduction From Liability

This text of Nevada § 681A.140 (“Qualified financial institution in the United States” defined) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 681A.140 (2026).

Text

As used in NRS 681A.140 to 681A.240, inclusive, “qualified financial institution in the United States” means an institution that: 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 In

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As used in NRS 681A.140 to 681A.240, inclusive, “qualified financial institution in the United States” means an institution that:
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.