666.375 - Conditions for authorizing or requiring certain transactions involving out-of-state depository institution or out-of-state holding company. - Nevada Statutes

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Statutes > Nevada > Title-55 > Chapter-666 > Interstate-banking > 666-375

666.375 Conditions for authorizing or requiring certain transactions involving out-of-state depository institution or out-of-state holding company. The Commissioner may not authorize or require any transaction pursuant to NRS 666.355 involving an out-of-state depository institution or an out-of-state holding company, unless the Commissioner finds that:

1. The acquiring or merging depository institution or holding company has demonstrated an acceptable record of meeting the needs for credit of the communities which it serves; and

2. The acquiring or merging depository institution or holding company has a record of sound performance, adequate stockholders’ or members’ equity, financial capacity and efficient management so the acquisition or merger will not jeopardize the financial stability of the acquired or merged depository institution and will not be detrimental to the interests of depositors, creditors or other customers of the depository institution, or to the public.

(Added to NRS by 1985, 2153; A 1987, 1937; 1995, 1560; 1997, 1001)

State Codes and Statutes

Statutes > Nevada > Title-55 > Chapter-666 > Interstate-banking > 666-375

666.375 Conditions for authorizing or requiring certain transactions involving out-of-state depository institution or out-of-state holding company. The Commissioner may not authorize or require any transaction pursuant to NRS 666.355 involving an out-of-state depository institution or an out-of-state holding company, unless the Commissioner finds that:

1. The acquiring or merging depository institution or holding company has demonstrated an acceptable record of meeting the needs for credit of the communities which it serves; and

2. The acquiring or merging depository institution or holding company has a record of sound performance, adequate stockholders’ or members’ equity, financial capacity and efficient management so the acquisition or merger will not jeopardize the financial stability of the acquired or merged depository institution and will not be detrimental to the interests of depositors, creditors or other customers of the depository institution, or to the public.

(Added to NRS by 1985, 2153; A 1987, 1937; 1995, 1560; 1997, 1001)

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State Codes and Statutes

Statutes > Nevada > Title-55 > Chapter-666 > Interstate-banking > 666-375

666.375 Conditions for authorizing or requiring certain transactions involving out-of-state depository institution or out-of-state holding company. The Commissioner may not authorize or require any transaction pursuant to NRS 666.355 involving an out-of-state depository institution or an out-of-state holding company, unless the Commissioner finds that:

1. The acquiring or merging depository institution or holding company has demonstrated an acceptable record of meeting the needs for credit of the communities which it serves; and

2. The acquiring or merging depository institution or holding company has a record of sound performance, adequate stockholders’ or members’ equity, financial capacity and efficient management so the acquisition or merger will not jeopardize the financial stability of the acquired or merged depository institution and will not be detrimental to the interests of depositors, creditors or other customers of the depository institution, or to the public.

(Added to NRS by 1985, 2153; A 1987, 1937; 1995, 1560; 1997, 1001)