1. A foreign bank which desires to obtain a license under this chapter to establish and maintain a state branch or agency shall submit an application to the Commissioner pursuant to NRS 666.315. The application must contain:

(a) The same information as required by the Board of Governors of the Federal Reserve System for an application to establish a branch or agency, as the case may be, in the United States; and

(b) The information required pursuant to NRS 666.315,

and must be accompanied by the fee required by that section.

2. A foreign bank which is licensed under this chapter to establish and maintain a state branch or agency may not concurrently maintain a federal branch or agency in this State. A foreign bank which maintains a federal branch or agency in this State may not concurrently be licensed under this chapter to maintain a state branch or agency.

3. The Commissioner shall consider an application to be withdrawn if the Commissioner has not received all information and fees required to complete the application within 12 months after the date the application is first submitted to the Commissioner or within such later period as the Commissioner determines in accordance with any existing policies of joint regulatory partners. If an application is deemed to be withdrawn pursuant to this subsection or if the applicant otherwise withdraws the application, the Commissioner may not issue a license to the applicant unless the applicant submits a new application and pays any required fees.

(Added to NRS by 1995, 1538; A 2005, 1847)