Section 683A.231 - Licensing of bank1. For the purposes of this section:(a) "Affiliate" means a person that directly, or indirectly through one or more intermediaries, is controlled by, or is under common control with, a bank.(b) "Bank" means any institution that accepts deposits that the depositor has a legal right to withdraw on demand.(c) "Financial holding company" means a bank holding company as defined in section 4(l)(2) of the Bank Holding Company Act of 1956, 12 U.S.C. § 1841(l)(1).(d) "Parent" means a person that owns or controls a bank, directly or indirectly, in whole or in part.(e) "Subsidiary" means a person owned or controlled by a bank, directly or indirectly, in whole or in part.2. A bank may be licensed as a producer of insurance in this state:(a) To the extent permitted by Title V of Public Law 106-102, 15 U.S.C. §§ 6801 et seq.; and(b) For credit insurance, as defined in NRS 690A.015, and credit property insurance.3. A bank must not be licensed or admitted as an insurer.4. The provisions of subsection 3 do not prohibit the licensing by the Commissioner of an affiliate, financial holding company, parent or subsidiary of a bank to sell insurance or be admitted as an insurer.Added to NRS by 1971, 1638; A 1987, 2285; 1993, 2281; 1995, 1614; 1997, 782; 2001, 2204Added to NRS by 1971, 1638; A 1987, 2285; 1993, 2281; 1995, 1614; 1997, 782; 2001, 2204