677.340 - Persons ineligible for licensing. - Nevada Statutes

677.340  Persons ineligible for licensing.

      1.  Except as otherwise provided in NRS 677.545 and chapter 666 of NRS, no person doing business under the law of:

      (a) Any other state; or

      (b) The United States if the principal office of the business is not located in Nevada,

Ê relating to banks, savings and loan associations or persons licensed under chapter 675 of NRS is eligible to become a licensee under this chapter. This chapter does not apply to any business transacted by any such person under the authority of and as permitted by any such law.

      2.  Except as otherwise provided in subsection 3 and chapter 666 of NRS, a subsidiary of a parent corporation:

      (a) One or more of whose other subsidiaries is engaged in any of the activities listed in subsection 1; or

      (b) Whose parent corporation is prohibited from obtaining a license under this chapter,

Ê is not eligible to be licensed under this chapter.

      3.  Subsection 2 does not apply to a bank which is doing business under the law of the United States if its principal office is located in Nevada.

      (Added to NRS by 1975, 1833; A 1981, 1594; 1983, 153, 1606; 1985, 2159, 2199; 1995, 1564)