669A.120 - Exchange of license as trust company for license as family trust company. - Nevada Statutes

669A.120  Exchange of license as trust company for license as family trust company.  A trust company licensed pursuant to the provisions of chapter 669 of NRS may exchange its license granted pursuant to that chapter for a license under this chapter, thereby becoming a licensed family trust company, upon providing the Commissioner with satisfactory evidence that at or before the effective date of its license under this chapter, the trust company will:

      1.  Satisfy the definition of a family trust company; and

      2.  Comply with the requirements of NRS 669A.140.

      (Added to NRS by 2009, 1139)

      NRS 669A.130  Licensed family trust company has same rights, privileges and exemptions as trust company.  Except as otherwise provided in NRS 669A.150, a family trust company licensed pursuant to this chapter has all the rights, privileges and exemptions from licensing and regulation requirements made applicable by any law of this State to trust companies licensed pursuant to chapter 669 of NRS, including, without limitation, the requirements for registration, licensing and supervision set forth in chapter 90 of NRS.

      (Added to NRS by 2009, 1139)