Nevada Revised Statutes 659.015 – Requirements for organization by person, existing corporation or existing limited-liability company
1. One or more persons who desire to form a bank and engage in the business of establishing, maintaining and operating banks of discount and deposit, savings, time and demand deposits, or in the business of establishing, maintaining and operating offices of loan and deposits, or to operate a bank doing a trust and fiduciary business, must organize as a banking corporation or company in the manner provided in chapters 657 to 671, inclusive, of NRS.
Terms Used In Nevada Revised Statutes 659.015
- 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.
- Fiduciary: A trustee, executor, or administrator.
2. An existing corporation, including, but not limited to, a corporation licensed to engage in business pursuant to chapter 677 of NRS, or a limited-liability company that desires to form a bank and engage in the activities described in subsection 1 must:
(a) Dissolve and reorganize as a banking corporation or company in the manner provided in chapters 657 to 671, inclusive, of NRS; or
(b) Amend its articles of incorporation or organization in such a manner that it is organized as a banking corporation or company in the manner provided in chapters 657 to 671, inclusive, of NRS.