GENERAL PROVISIONS

Nev. Rev. Stat. 657
in effect

Nev. Rev. Stat. § 657.005 Definitions.

As used in chapters 657 to 671, inclusive, of NRS, unless the context otherwise requires, the words and terms defined in NRS 657.016 to 657.085, inclusive, have the meanings ascribed to them in those sections.

Nev. Rev. Stat. § 657.016 “Bank,” “commercial bank,” “banking company” and “banking corporation” defined.

“Bank,” “commercial bank,” “banking company” or “banking corporation” means a corporation or limited-liability company that is chartered by this State, another state or the United States and conducts the business of receiving money as demand deposits or otherwise carries on a banking or banking and trust business. The terms do not include a thrift company engaged in business pursuant to chapter 677 of NRS.

Nev. Rev. Stat. § 657.035 “Demand deposits” defined.

“Demand deposits” means all deposits the immediate withdrawal of which can be legally required upon a proper written request for such payment.

Nev. Rev. Stat. § 657.037 “Depository institution” defined.

“Depository institution” means any bank, savings and loan association, savings bank, thrift company, credit union or other institution, whether chartered by this State, another state or the Federal Government, which: 1. Holds or receives deposits, savings or share accounts; 2. Issues certificates of deposit; or 3. Provides to its customers other depository accounts which are subject to withdrawal by checks, drafts or other instruments or by electronic means to effect payment to a third party.

Nev. Rev. Stat. § 657.039 “Derivative transaction” defined.

“Derivative transaction” has the meaning ascribed to it in 12 U.S.C. § 84(b)(3).

Nev. Rev. Stat. § 657.040 “Division of Financial Institutions” defined.

“Division of Financial Institutions” means the Division of Financial Institutions of the Department of Business and Industry.

Nev. Rev. Stat. § 657.045 “Insolvency” defined.

“Insolvency” means one or more of the following: 1. When a bank cannot meet its deposit liabilities as they become due in the regular course of business. 2. When the actual cash market value of a bank’s assets is insufficient to pay its liabilities to depositors and other creditors. 3. When a bank’s reserve falls under the amount required by chapters 657 to 671 , inclusive, of NRS, and it fails to make good such reserve within 30 days after being required to do so by the Commissioner. 4. When the undivided profits and surplus are inadequate to cover losses of the bank and the stockholders’ or members’ equity of the bank has been reduced below the requirements of law.

Nev. Rev. Stat. § 657.055 “Net earnings” defined.

“Net earnings” means the excess of the gross earnings of any bank over the expenses and losses chargeable against such earnings.

Nev. Rev. Stat. § 657.058 “Nevada” defined.

“Nevada” when used to modify: 1. The word “bank” or the term “depository institution” means organized under the laws of this State; and 2. The term “national bank” means having its headquarters within this State.

Nev. Rev. Stat. § 657.064 “Savings deposit” defined.

“Savings deposit” means a deposit or account: 1. With respect to which the depository institution may require the depositor to give written notice of withdrawal not less than 7 days before a withdrawal, but from which the depositor may otherwise make withdrawals without giving written notice; and 2. Which is not payable on a specific date or at the expiration of a specified time after the date of deposit.

Nev. Rev. Stat. § 657.070 “Stockholders’ equity” and “members’ equity” defined.

“Stockholders’ equity” or “members’ equity” means the capital, surplus and retained earnings of a bank.

Nev. Rev. Stat. § 657.075 “Surplus” defined.

“Surplus” means a fund created pursuant to the provisions of chapters 657 to 671, inclusive, of NRS by a bank from payments by stockholders or members or from the bank’s net earnings or undivided profits which, to the amount specified and by any additions thereto set apart and designated as such, is not available for the payment of dividends and cannot be used for the payment of expenses or losses while the bank has undivided profits.

Nev. Rev. Stat. § 657.085 “Time deposit” defined.

“Time deposit” means a deposit which: 1. The depositor does not have a right to withdraw for a period of 7 days or more after the date of deposit; and 2. Is payable at the expiration of a specified time not less than 7 days after the date of deposit.

Nev. Rev. Stat. § 657.095 Applicability of chapters 78 , 86 and 92A of NRS.

The provisions of chapters 78, 86 and 92A of NRS that are not in conflict with chapters 657 to 671, inclusive, of NRS are hereby adopted as a part of chapters 657 to 671, inclusive, of NRS.

Nev. Rev. Stat. § 657.097 Applicability of provisions concerning Regulatory Experimentation Program for Product Innovation.

Except as otherwise required by the Director of the Department of Business and Industry pursuant to NRS 657A.430 or 657A.620, the provisions of chapters 657 to 671, inclusive, of NRS do not apply to a participant in the Regulatory Experimentation Program for Product Innovation established and administered pursuant to chapter 657A of NRS.

Nev. Rev. Stat. § 657.105 Effect of certain chapters on powers, privileges, duties and restrictions of corporations, companies, associations and natural persons.

1. The powers, privileges, duties and restrictions conferred and imposed upon any corporation, company, association or natural person, existing and doing business under the laws of this State, are hereby abridged, enlarged or modified, as each particular case may require, to conform to the provisions of chapters 657 to 671 , inclusive, of NRS, notwithstanding anything to the contrary in its respective articles of incorporation, articles of organization or charter. 2. As used in this section, “doing business under the laws of this State” does not include the lending of money to a person who is not a resident of this State, whether or not the bank which extended the credit or serviced the loan is located in this State.

Nev. Rev. Stat. § 657.110 Certain mortgagees and beneficiaries of deeds of trust to provide contact information to the Division of Financial Institutions; Division of Financial Institutions to maintain information on its Internet website.

1. Each mortgagee or beneficiary of a deed of trust under a residential mortgage loan, including, without limitation, a bank, credit union, savings bank, savings and loan association, thrift company or other financial institution which is licensed, registered or otherwise authorized to do business in this State, shall provide to the Division of Financial Institutions the name, street address and any other contact information of a person to whom: (a) A borrower or a representative of a borrower must send any document, record or notification necessary to facilitate a mediation conducted pursuant to NRS 40.437 or 107.086 . (b) A unit-owners’ association must send any notice required to be given pursuant to NRS 116.3116 to 116.31168 , inclusive. 2. The Division of Financial Institutions shall maintain on its Internet website the information provided to the Division pursuant to subsection 1 and provide a prominent display of, or a link to, the information described in subsection 1, on the home page of its Internet website. 3. As used in this section: (a) “Borrower” means a person who is a mortgagor or grantor of a deed of trust under a residential mortgage loan. (b) “Residential mortgage loan” means a loan which is primarily for personal, family or household use and which is secured by a mortgage or deed of trust on owner-occupied housing as defined in NRS 107.015 .

Nev. Rev. Stat. § 657.120 Fees and charges: Imposition and collection by financial institution; limitations.

1. A financial institution may impose and collect a fee or charge, not to exceed an amount specified in or limited by specific statute, for any service it provides to a customer, if the fee or charge is clearly and conspicuously disclosed in writing to the customer before the customer receives the service. A financial institution must provide a customer with written notice of any increase in the fee or charge at least 10 days before the increase becomes effective. 2. A fee or charge for the presentation for payment, on a single business day, of multiple checks drawn by a customer on an account for which there is an insufficient balance to pay all the checks, must be determined as if the checks drawn in a single series or class were presented: (a) In the order the checks were written; (b) From the lowest check number to the highest check number; or (c) In order of ascending amounts, the check for the smallest sum being presented first. 3. As used in this section, “financial institution” means an institution licensed pursuant to the provisions of this title or chapter 645B or 649 of NRS, or a similar institution chartered or licensed pursuant to federal law.

Nev. Rev. Stat. § 657.130 Committees to review compliance: Definitions; confidentiality and privilege.

1. As used in this section, unless the context otherwise requires: (a) “Committee to review compliance” means one or more persons assigned or engaged by a financial institution to test, review or evaluate its conduct, transactions or potential transactions, policies or procedures for the purpose of monitoring and improving or enforcing compliance with state and federal statutes and regulations requiring safe, sound and fair lending practices, including, without limitation, acts concerning equal credit opportunity, fair housing, fair lending, flood zone protection, housing and financial discrimination, truth in lending and financial reporting to federal or state regulatory agencies. (b) “Financial institution” means an institution licensed pursuant to the provisions of this title or chapter 645B of NRS, or a similar institution chartered or licensed pursuant to federal law. The term includes, without limitation, a holding company, affiliate or subsidiary of such an institution. 2. Except as otherwise voluntarily authorized by the financial institution: (a) A document prepared for or created by a committee to review compliance is confidential and privileged, and is not subject to discovery or admissible in evidence in a civil action of this State, even if it has been submitted to a governmental or regulatory agency of this State, the United States or a foreign government. (b) A member of a committee to review compliance or a person who acted under the direction of the committee cannot be required to testify in a civil action concerning the contents of a document described in paragraph (a) or concerning the discussions or conclusions of, or the actions taken by, the committee.

Nev. Rev. Stat. § 657.140 Loan agreements: Certain provisions for recovery prohibited; exceptions.

1. Except as otherwise provided in subsection 2, a financial institution shall not include in any loan agreement a provision that allows the financial institution to recover, take, appropriate or otherwise apply as a setoff against any debt or liability owing to the financial institution under the loan agreement money from an account unrelated to the loan agreement to the extent the money is exempt from execution pursuant to paragraph (y) of subsection 1 of NRS 21.090 . 2. The provisions of subsection 1 do not apply to a provision in a loan agreement that specifically authorizes automatic withdrawals from an account. 3. The provisions of this section may not be varied by agreement, and the rights conferred by this section may not be waived. Any provision included in an agreement that conflicts with this section is void. 4. As used in this section: (a) “An account unrelated to the loan agreement” includes, without limitation, an account pledged as security under the loan agreement, unless the specific account pledged as security is conspicuously described in the loan agreement. (b) “Financial institution” means an institution licensed pursuant to the provisions of this title or chapter 645B or 649 of NRS, or a similar institution chartered or licensed pursuant to federal law.

Nev. Rev. Stat. § 657.150 Definitions.

As used in NRS 657.150 to 657.290, inclusive, unless the context otherwise requires, the words and terms defined in NRS 657.160 and 657.170 have the meanings ascribed to them in those sections.

Nev. Rev. Stat. § 657.160 “Financial institution” defined.

“Financial institution” means a depository institution or any other institution regulated pursuant to chapters 657 to 671, inclusive, of NRS. The term includes, without limitation, a holding company, affiliate or subsidiary of such an institution.

Nev. Rev. Stat. § 657.170 “License” defined.

“License” means any license, certificate, registration, permit or similar type of authorization.

Nev. Rev. Stat. § 657.180 License to operate or manage: Additional requirements; fingerprints; grounds for refusal to issue license.

1. In addition to any other requirements set forth by specific statute, each person who applies for a license to operate a financial institution and each person who will serve as a director, officer, manager or member acting in a managerial capacity for such a financial institution must submit: (a) Proof satisfactory to the Commissioner that the person: (1) Has a good reputation for honesty, trustworthiness and integrity and is competent to transact the business of the financial institution in a manner which protects the interests of the general public. (2) Has not made a false statement of material fact on the application. (3) Has not committed any of the acts specified in subsection 2. (4) Has not had a license to operate a financial institution suspended or revoked within the 10 years immediately preceding the date of the application. (5) Has not been convicted of, or entered a plea of nolo contendere to, a felony or any crime involving fraud, misrepresentation or moral turpitude. (b) A complete set of his or her fingerprints and written permission authorizing the Division of Financial Institutions to forward the fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report. 2. In addition to any other lawful reasons, the Commissioner may refuse to issue a license to operate a financial institution if the person who applies for the license or any person who will serve as a director, officer, manager or member acting in a managerial capacity for the financial institution: (a) Has committed or participated in any act which, if committed or done by a holder of a license, would be grounds for the suspension or revocation of the license. (b) Has previously been refused a license to operate a financial institution or has had such a license suspended or revoked. (c) Has participated in any act which was a basis for the refusal or revocation of a license to operate a financial institution. (d) Has falsified any of the information submitted to the Commissioner in support of the application for the license.

Nev. Rev. Stat. § 657.185 License to establish new depository institution: Commissioner prohibited from requiring identification of physical address of main office in application for license; authority of Commissioner to require identification of general location of main office in application and provision of physical address before commencement of business.

1. The Commissioner shall not require an applicant for a license to establish a new depository institution to identify in the application for the license the physical address where the main office of the proposed depository institution will be located. 2. The Commissioner may require an applicant for a license to establish a new depository institution to: (a) Identify in the application for the license the location, described in general terms, where the main office of the proposed depository institution will be located; and (b) Provide to the Commissioner the physical address of the main office of the proposed depository institution before the depository institution commences business.

Nev. Rev. Stat. § 657.190 Suspension or revocation of license to operate or manage: Additional grounds.

In addition to any other lawful reasons, the Commissioner may suspend or revoke a license to operate a financial institution if the person who holds the license or any person who serves as a director, officer, manager or member acting in a managerial capacity for the financial institution has engaged in any act that would be grounds for denying a license pursuant to NRS 657.180.

Nev. Rev. Stat. § 657.200 Use or change of business name; prohibitions.

1. A financial institution must obtain the approval of the Commissioner before using or changing a business name. 2. A financial institution shall not: (a) Use any business name which is identical or similar to a business name used by another financial institution or which may mislead or confuse the public. (b) Use any printed forms which may mislead or confuse the public.

Nev. Rev. Stat. § 657.210 Authorization of Commissioner to investigate business; free access required; compelling attendance of witnesses; fees.

1. For the purpose of discovering violations of chapters 657 to 671 , inclusive, of NRS or of securing information lawfully required under chapters 657 to 671 , inclusive, of NRS, the Commissioner or the Commissioner’s duly authorized representatives may at any time investigate the business and examine the books, accounts, papers and records used therein of: (a) Any licensee; (b) Any other person engaged in an activity for which a license is required pursuant to the provisions of chapters 657 to 671 , inclusive, of NRS; and (c) Any person whom the Commissioner has reasonable cause to believe is violating or is about to violate any provision of chapters 657 to 671 , inclusive, of NRS, whether or not the person claims to be within the authority or beyond the scope of chapters 657 to 671 , inclusive, of NRS. 2. For the purpose of examination, the Commissioner or the Commissioner’s authorized representatives must have and be given free access to the offices and places of business, files, safes and vaults of such persons. 3. The Commissioner may require the attendance of any person and examine the person under oath regarding: (a) Any transaction or business regulated pursuant to the provisions of chapters 657 to 671 , inclusive, of NRS; or (b) The subject matter of any audit, examination, investigation or hearing. 4. The Commissioner shall charge and collect from each licensee or other person a fee at the rate established and, if applicable, adjusted pursuant to NRS 658.101 for the cost of any supervision, audit, examination, investigation or hearing conducted pursuant to chapters 657 to 671 , inclusive, of NRS or any regulations adopted pursuant thereto.

Nev. Rev. Stat. § 657.220 Definitions.

As used in NRS 657.220 to 657.290, inclusive, unless the context otherwise requires, the words and terms defined in NRS 657.230 to 657.270, inclusive, have the meanings ascribed to them in those sections.

Nev. Rev. Stat. § 657.230 “Designated reporter” defined.

“Designated reporter” means a person designated by a financial institution to receive reports of known or suspected exploitation of an older person or vulnerable person pursuant to NRS 657.290.

Nev. Rev. Stat. § 657.260 Reasonable cause to believe” defined.

“Reasonable cause to believe” has the meaning ascribed to it in NRS 200.50925.

Nev. Rev. Stat. § 657.280 Training; reporting to designated reporter.

1. Each financial institution shall provide training concerning the identification and reporting of the suspected exploitation of an older person or vulnerable person to each officer and employee of the financial institution who: (a) May, as part of his or her regular duties for the financial institution, come into direct contact with an older person or vulnerable person; or (b) May review or approve the financial documents, records or transactions of an older person or vulnerable person in connection with providing financial services to the older person or vulnerable person. 2. The training required pursuant to subsection 1 must be provided as soon as reasonably practicable, but not later than 6 months after the officer or employee is employed by the financial institution. 3. The training required pursuant to subsection 1 must include, without limitation: (a) An explanation of the conduct which constitutes exploitation of an older person or vulnerable person; (b) The manner in which exploitation of an older person or vulnerable person may be recognized; (c) Information concerning the manner in which reports of exploitation are investigated; and (d) Instruction concerning when and how to report known or suspected exploitation of an older person or vulnerable person. 4. An officer or employee who has observed or has knowledge of an incident that is directly related to a transaction or matter which is within his or her scope of practice and which reasonably appears to be exploitation of an older person or vulnerable person shall report the known or suspected exploitation to the designated reporter.

Nev. Rev. Stat. § 657.290 Designated reporter: Designation; duty to report; authority to delay disbursement or transaction; expiration of delay; immunity; considerations in determining whether exploitation has occurred.

1. Each financial institution shall designate a person or persons to whom an officer or employee of the financial institution must report known or suspected exploitation of an older person or vulnerable person. 2. If an officer or employee reports known or suspected exploitation of an older person or vulnerable person to a designated reporter and, based on such a report or based on his or her own observations or knowledge, the designated reporter knows or has reasonable cause to believe that an older person or vulnerable person has been exploited, the designated reporter: (a) Except as otherwise provided in subsection 3, shall report the known or suspected exploitation of the older person or vulnerable person to: (1) The local office of the Aging and Disability Services Division of the Department of Human Services; (2) A police department or sheriff’s office; (3) The county’s office for protective services, if one exists in the county where the suspected action occurred; or (4) A toll-free telephone service designated by the Aging and Disability Services Division of the Department of Human Services; (b) Shall make such a report as soon as reasonably practicable; and (c) May temporarily delay a requested disbursement from, or a requested transaction involving, an account of an older person or vulnerable person or an account to which an older person or vulnerable person is a beneficiary if the designated reporter: (1) Not later than 2 business days after the date on which the requested disbursement or transaction is delayed: (I) Provides written notification of the delay and the reason for the delay to all parties authorized to transact business on the account, except a party who is reasonably believed to have engaged in the suspected exploitation; and (II) Notifies the local office of the Aging and Disability Services Division of the Department of Human Services and a local law enforcement agency of the delay; and (2) Notifies the local office of the Aging and Disability Services Division of the Department of Human Services and the appropriate local law enforcement agency of any new information that is relevant to the delay within a reasonable time after becoming aware of the information. 3. If the designated reporter knows or has reasonable cause to believe that the exploitation of the older person or vulnerable person involves an act or omission of the Aging and Disability Services Division, another division of the Department of Human Services or a law enforcement agency, the designated reporter shall make the report to an agency other than the one alleged to have committed the act or omission. 4. In accordance with the provisions of subsection 3 of NRS 239A.070 , in making a report pursuant to this section, a designated reporter may: (a) Disclose any facts or information that form the basis of the determination that the designated reporter knows or has reasonable cause to believe that an older person or vulnerable person has been exploited, including, without limitation, the identity of any person believed to be involved in the exploitation of the older person or vulnerable person; and (b) Provide any financial records or other documentation relating to the exploitation of the older person or vulnerable person. 5. A financial institution and any of its officers, employees and designated reporters are immune from civil, criminal and administrative liability arising from: (a) Making a report in good faith pursuant to this section; (b) Delaying a requested disbursement or transaction involving the known or suspected exploitation of an older person or vulnerable person pursuant to this section; or (c) Taking any reasonable action which is: (1) Performed in furtherance of a duty or authorization created by subsection 2, 3 or 4; and (2) Based upon a reasonable belief that an older person or vulnerable person has been exploited. 6. Except as otherwise provided in this subsection and subsections 7 and 8, a delay in a requested disbursement or transaction authorized by paragraph (c) of subsection 2 expires 15 business days after the date on which the requested disbursement or transaction was delayed. If the local office of the Aging and Disability Services Division of the Department of Human Services or a local law enforcement agency requests in writing that the designated reporter extend the delay, the delay expires upon the earlier of: (a) Twenty-five business days after the date on which the requested disbursement or transaction was delayed; or (b) Upon the written request of the local office of the Aging and Disability Services Division of the Department of Human Services or the local law enforcement agency that requested the extension of the delay or upon the order of a court of competent jurisdiction. 7. A delay in a requested disbursement or transaction authorized by paragraph (c) of subsection 2 may expire before the period set forth in subsection 6 and the designated reporter may proceed with the requested disbursement or transaction if the designated reporter reasonably believes that the requested disbursement or transaction will not result in exploitation of the older person or vulnerable person. 8. A court of competent jurisdiction may issue an order extending a delay of a requested disbursement or transaction authorized by paragraph (c) of subsection 2 based on the petition of the local office of the Aging and Disability Services Division of the Department of Human Services, a local law enforcement agency or any other interested party. 9. When determining whether an older person or vulnerable person has been exploited, a designated reporter may consider any of the following circumstances, if applicable and without limitation: (a) A requested disbursement from, or a requested transaction involving, an account of an older person or vulnerable person or an account to which an older person or vulnerable person is a beneficiary that the older person or vulnerable person cannot explain; (b) A request to close a certificate of deposit of an older person or vulnerable person that is made: (1) Before the date of maturity of the certificate of deposit; and (2) With apparent disregard for any penalty associated with closing the certificate of deposit before the date of maturity of the certificate of deposit; (c) A check written by an older person or vulnerable person under suspicious circumstances; (d) An uncharacteristic attempt by an older person or vulnerable person to initiate a wire transfer of a significant sum of money; (e) A suspicious signature on documentation relating to an account of an older person or vulnerable person; (f) A suspicious alteration to a: (1) Trust to which an older person or vulnerable person is a beneficiary; or (2) Will or trust for which an older person or vulnerable person is a testator or trustee; (g) A suspicious alteration in a power of attorney relating to an older person or vulnerable person; and (h) A person attempting to initiate a financial transaction on behalf of an older person or vulnerable person without proper documentation.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-657.htmlFetched: 10/4/2026