Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 666.075 - Rebuttable presumption against control of bank; certain legal relationships and companies deemed not to be bank holding companies1. There is a rebuttable presumption that a company which directly or indirectly owns, controls or has the power to vote less than 10 percent of the voting stock of, or members' interests in, a bank does not control the bank.2. An estate, trust, guardianship or conservatorship is not by virtue of its ownership or control of stock of, or members' interests in, a bank, a bank holding company unless it is:(b) A voting trust which by its terms or by law does not expire within 10 years after the date of its establishment.3. A company is not a bank holding company by virtue of its ownership or control of stock or a member's interest which:(a) Was acquired in the ordinary course of securing or collecting a debt which the company previously contracted in good faith; and(b) Is held only as long as is necessary to sell the stock on a reasonable basis.Added to NRS by 1983, 929; A 1983, 1838; 1984, 3; 1995, 494; 1997, 999Added to NRS by 1983, 929; A 1983, 1838; 1984, 3; 1995, 494; 1997, 999