Nevada Revised Statutes 669.280 – Authority of Commissioner to take disciplinary action and to close and liquidate business
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1. The violation of any of the provisions of this chapter by the officers or directors, or the managers or members acting in a managerial capacity, of any trust company is sufficient cause for the Commissioner to close the trust company, liquidate its business and revoke its license.
Terms Used In Nevada Revised Statutes 669.280
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. If a trust company or any person authorized to act on the behalf of the trust company refuses to allow the Commissioner or the Commissioner’s deputies to inspect all books, records, papers and effects of the business of the trust company, the Commissioner may revoke its license and proceed to wind up the affairs of the trust company.