A trust company licensed pursuant to the provisions of chapter 669 of NRS may exchange its license granted pursuant to that chapter for a license under this chapter, thereby becoming a licensed family trust company, upon providing the Commissioner with satisfactory evidence that at or before the effective date of its license under this chapter, the trust company will:
1. Satisfy the definition of a family trust company; and
2. Comply with the requirements of NRS 669A.140.
(Added to NRS by 2009, 1139)