1. An applicant for a license as a family trust company must file an application with the Commissioner on forms prescribed by the Commissioner. The application must contain or be accompanied by such information as the Commissioner requires.
2. A nonrefundable fee of not more than $3,000 must accompany the application. The applicant must also pay such reasonable additional expenses incurred in the process of investigation as the Commissioner deems necessary. In addition, a fee of not less than $300 or more than $1,000, prorated on the basis of the licensing year as provided by the Commissioner, must be paid at the time of making the application.
3. A licensed family trust company may maintain offices in this and other states. For every branch location of a family trust company organized under the laws of this State, and every branch location in this State of a foreign family trust company electing to be licensed as a family trust company in this State, a request for approval and licensing must be filed with the Commissioner on such forms as the Commissioner prescribes. A nonrefundable fee of not more than $500 must accompany each request. In addition, a fee of not more than $200, prorated on the basis of the licensing year as provided by the Commissioner, must be paid at the time of making the request.
4. The Commissioner shall adopt regulations establishing the amount of the fees required pursuant to this section. All money received by the Commissioner pursuant to this section must be placed in the Investigative Account for Financial Institutions created by NRS 232.545.
5. The Commissioner shall consider an application to be withdrawn if the Commissioner has not received all information and fees required to complete the application within 12 months of the Commissioner’s first request therefor or within such later period as the Commissioner determines. If an application is deemed to be withdrawn pursuant to this subsection or if an applicant otherwise withdraws an application, the Commissioner must not issue a license to the applicant unless the applicant submits a new application and pays any required fees.
(Added to NRS by 2009, 1140)
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