NRS 666A.320 Authority of Commissioner.

288 words·~1 min read·/nv/chapter-666a-foreign-banks/666a-320

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. The Commissioner has all of the powers granted to the Commissioner by the laws of this state to the same extent and in the same manner as if a state branch, agency or representative office were a Nevada bank.

2. If, after notice and a hearing, the Commissioner finds that any person has violated any provision of this chapter or of any regulation or order issued under this chapter, the Commissioner may, in addition to any other remedy or action available to the Commissioner under the laws of this state, order the violator to pay to the Commissioner a civil penalty in such a manner and in such an amount as the Commissioner determines by regulation, consistent with the penalties provided for Nevada banks.

3. To carry out the purposes of this chapter, the Commissioner may:

(a)Enter into cooperative, coordinating or information-sharing agreements with any other bank supervisory agency or any organization affiliated with or representing one or more bank supervisory agencies;

(b)With respect to periodic examination or other supervision of a foreign bank that maintains a state branch, agency or representative office, accept reports of examinations performed by, and reports submitted to, other bank supervisory agencies in lieu of conducting examinations, or of receiving reports, as might otherwise be required under this chapter; and

(c)Enter into joint examinations or joint enforcement actions with any other bank or supervisory agency having concurrent jurisdiction over any foreign bank, but the Commissioner may at any time take any such actions independently if the Commissioner determines that such actions are necessary or appropriate to carry out the Commissioner’s responsibilities under this chapter and to ensure compliance with the laws of this state.