A family trust company is not required to be licensed as a trust company pursuant to chapter 669 of NRS. Unless a family trust company applies for licensure pursuant to chapter 669 of NRS, the family trust company is not:
1. Subject to supervision by the Commissioner pursuant to this chapter or chapter 669 of NRS; or
2. Except as otherwise provided in this chapter, subject to the provisions of chapter 669 of NRS applicable to a trust company that offers trust company services to:
(a) Persons who are not family members; or
(b) The public at large.
(Added to NRS by 2009, 1139)
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