1.  Except as otherwise provided in this section, a foreign savings bank shall be considered a savings bank subject to the provisions of this chapter for the purpose of engaging in any activities for which a license or other approval by the Commissioner is required pursuant to this chapter, except that a foreign savings bank whose activities are limited to any one or more of those enumerated in NRS 80.015 need not be licensed under this chapter.

Terms Used In Nevada Revised Statutes 673.595

  • 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.
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC

2.  A foreign savings bank organized under the laws of another state or the United States which is insured by the Federal Deposit Insurance Corporation may operate in this State in accordance with the provisions of this chapter on the same terms as a savings bank organized under this chapter, but only to the extent that the laws of the state under which the foreign savings bank is organized permit a savings bank organized under this chapter to operate in accordance with the laws of that state on the same terms as the foreign savings bank.

3.  A foreign savings bank organized under the laws of another state or the United States which is insured by the Federal Deposit Insurance Corporation may establish one or more service offices within this State as allowed by this chapter, but only to the same extent, and subject to the same restrictions, that the laws of the state under which the foreign savings bank is organized allows a savings bank organized under this chapter to establish and maintain one or more service offices within that state.

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