The Commissioner shall issue an order cancelling a retail trust company’s license:
1. If the proposed retail trust company fails to open for business within 6 months after the date the license was issued, or within an additional 6-month extension granted by the Commissioner upon written application and for good cause shown; or
2. If the retail trust company fails to maintain regular business hours or otherwise conduct the business of a trust company for more than 30 days.
(Added to NRS by 1969, 1187; A 1983, 1761; 1987, 1946; 2009, 1960)