Section 681A.140 - "Qualified financial institution in the United States" defined 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; and4. Is determined by the Commissioner to be otherwise acceptable.Added to NRS by 1995, 1756; A 2013, 3351; 2015, 3385; 2017, 2336Amended by 2017, Ch. 376,§23, eff. 7/1/2017.Amended by 2015, Ch. 522,§14, eff. 7/1/2015.Amended by 2013, Ch. 511,§2, eff. 10/1/2013.Added to NRS by 1995, 1756