Nevada Revised Statutes 665.125 – Powers and duties concerning examinations
1. The examiners of financial institutions shall verify all reports made to the Commissioner by the officers and directors of any banking corporation, as required by chapters 657 to 671, inclusive, of NRS or by the Commissioner.
Terms Used In Nevada Revised Statutes 665.125
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Oath: A promise to tell the truth.
2. The officers of every bank shall submit and surrender its books, assets, papers and concerns to the examiners appointed by the Commissioner, who shall retain the custody and possession of such books, assets, papers and concerns for such length of time as may be required for the purpose of making an examination as required by chapters 657 to 671, inclusive, of NRS.
3. If any officer refuses to surrender such books, assets, papers and concerns, or refuses to be examined under oath touching the affairs of such bank, the Commissioner may forthwith take possession of the property and business of the bank and liquidate its affairs in accordance with the provisions of chapters 657 to 671, inclusive, of NRS.