1. It is unlawful for any retail trust company licensed in this State to engage in trust company business at any office outside this State without the prior approval of the Commissioner.
2. Before the Commissioner will approve a branch to be located in another state, the retail trust company must:
(a) Obtain from that state a license as a trust company; or
(b) Provide proof satisfactory to the Commissioner that the retail trust company has met all the requirements to do business as a trust company at an office in that state, including, without limitation, written documentation from the appropriate state agency that the retail trust company is authorized to do business in that state.
(Added to NRS by 2009, 1952; A 2011, 2593)