1. Subject to the provisions of NRS 666.410, 666.415 and 666.420, and after approval of the Commissioner pursuant to NRS 666.315, an out-of-state depository institution or its holding company may acquire control of, acquire all or substantially all of the assets of, or merge with, a Nevada depository institution or its holding company.
2. An out-of-state depository institution or holding company that acquires a Nevada depository institution, or an out-of-state depository institution that is the resulting depository institution after merging with a Nevada depository institution, or an out-of-state depository institution that otherwise establishes or acquires a branch in Nevada, may, in accordance with applicable state and federal law:
(a) Continue to operate the Nevada depository institution or branch;
(b) Convert any existing main office or branch in Nevada into a branch of the out-of-state depository institution;
(c) Establish or acquire additional branches of the out-of-state depository institution in any state where the Nevada depository institution could have done so had it not been acquired or merged; and
(d) Exercise any power and engage in any activity in this state to the same extent as a depository institution of the same type whose home state is Nevada, even if the out-of-state depository institution is not authorized to exercise those powers or engage in those activities in the out-of-state depository institution’s home state.
3. A branch in this state of an out-of-state depository institution shall comply with:
(a) If the branch is not a federally chartered institution, the applicable laws relating to depository institutions of the institution’s home state, including, without limitation, provisions relating to the names of depository institutions; or
(b) If the institution is a federally chartered institution, the provisions of federal law.
4. If the laws of this state as a host state conflict with the laws of another state as a home state, the laws of the home state prevail, except that:
(a) The Commissioner may, by regulation, order that Nevada law prevail over that of the home state if the application of Nevada law is necessary to preserve the safe and sound operation of the branch or otherwise protect the residents of this state; and
(b) The laws of this state regarding protection of customers, fair lending and intrastate branching apply to a branch in this state of an out-of-state depository institution to the same extent as those laws apply to a branch in this state of a depository institution chartered by this state.
5. This section does not affect the authority of the Commissioner to examine, supervise and regulate an out-of-state depository institution operating or seeking to operate a branch in this state or to take any action or issue any order with regard to that branch pursuant to NRS 666.325.
(Added to NRS by 1995, 1554; A 1997, 1001)