Nev. Rev. Stat. § 681A.140
“Qualified financial institution in the United States” defined
Nevada · Nevada Revised Statutes Chapter 681A — Kinds of Insurance; Limits on Risk; Reinsurance · Status: effective
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- Nev. Rev. Stat. § 681A.140, “Qualified financial institution in the United States” defined, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2145461
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Full text
As used in NRS 681A.140 to 681A.240, inclusive, “qualified financial institution in the United States” means an institution that:
1. Is organized, or in the case of a branch or agency of a foreign banking organization in the United States licensed, under the laws of the United States or any state thereof and has been granted authority to operate with fiduciary powers;
2. Is regulated, supervised and examined by federal or state authorities having regulatory authority over banks and trust companies;
3. Is determined:
(a) By the Commissioner to meet the standards of financial condition and standing prescribed by the Commissioner; or
(b) By the National Association of Insurance Commissioners to meet the standards of financial condition and standing prescribed by the National Association of Insurance Commissioners; and
4. Is determined by the Commissioner to be otherwise acceptable.