1. Upon receipt of a copy of the articles of incorporation or organization or the certificate of amendment of the articles of incorporation or organization of the proposed bank, the Commissioner shall at once examine all of the facts connected with the formation of the proposed banking corporation or company, including its location and proposed stockholders or members. If it appears that the bank, if formed, will be lawfully entitled to commence the business of banking, the Commissioner shall so certify to the Secretary of State, unless upon examination and investigation the Commissioner finds that:

(a) The proposed bank is formed for any other than legitimate banking business;

(b) The character, general fitness and responsibility of the persons proposed as stockholders, directors, officers, members or managers of the bank are not such as to command the confidence of the community in which the bank is proposed to be located;

(c) The probable volume of business and reasonable public demand in such community is not sufficient to assure and maintain the solvency of the new bank and of the bank or banks existing in the community at that time;

(d) The name of the proposed banking corporation or company does not comply with the provisions of NRS 657.200.

2. The Commissioner shall not make the certification to the Secretary of State until the Commissioner has ascertained that the establishment of the bank will meet the needs and promote the convenience of the community to be served by the bank.

3. A nonrefundable fee of not more than $6,000 for the application and survey must be submitted to the Commissioner upon filing the articles or certificate of amendment with the Secretary of State. The proposed banking corporation or company shall also pay such additional expenses incurred in the process of investigation as the Commissioner deems necessary. All money received by the Commissioner pursuant to this section must be placed in the Investigative Account created by NRS 232.545.

4. The Commissioner shall adopt regulations establishing the amount of the application fee required pursuant to this section.

(Added to NRS by 1971, 970; A 1983, 1316, 1726; 1987, 1902; 1991, 1806; 1995, 475; 1997, 977; 2005, 1843)