2023 Nevada Revised Statutes › Chapter 671 - Money Transmission › NRS 671.375 - Examination of licensee or authorized delegate by Commissioner; authorized actions to administer and enforce chapter; authorized actions to conduct examination; provision of records required; use of multistate standards and procedures; fees.

1. The Commissioner shall, as often as the Commissioner determines to be necessary, examine the financial accounts of each licensee and any other documents relevant to the conduct of the licensee’s business and may conduct other examinations of a licensee or authorized delegate that the Commissioner determines to be necessary. The Commissioner may take any action authorized by the provisions of this chapter or the regulations adopted pursuant thereto as reasonably necessary or appropriate to administer and enforce the provisions of this chapter, the regulations adopted pursuant thereto and other applicable law, including, without limitation, the Bank Secrecy Act and the USA Patriot Act.
2. For the purpose of an examination conducted pursuant to subsection 1, the Commissioner may:
(a) Enter upon any of the business premises of a licensee or the licensee’s authorized delegates and obtain access to the relevant documents.
(b) Conduct such an examination on-site or off-site as the Commissioner may reasonably require.
(c) Conduct such an examination in conjunction with an examination conducted by a representative of another agency of this State, an agency of another state or an agency of the federal government.
(d) Accept the examination report of another agency of this State, an agency of another state or an agency of the federal government. Upon acceptance by the Commissioner, such an examination report shall be considered an official report of the Commissioner.
(e) Summon and examine under oath a key individual or employee of a licensee or authorized delegate and require the key individual or employee to produce records regarding any matter related to the condition and business of the licensee or authorized delegate.
3. The Commissioner is entitled to full access to all records the Commissioner reasonably requires to conduct a complete examination. A licensee or authorized delegate shall provide all such records at the location and in the format specified by the Commissioner. Any person who obstructs or denies the Commissioner entry onto the business premises of a licensee or authorized delegate or access to the relevant documents of a licensee or authorized delegate commits a violation of this chapter.
4. The Commissioner may use multistate record production standards and examination procedures if the Commissioner determines that such standards will reasonably achieve the requirements of this section.
5. For each examination of a licensee or an authorized delegate of the licensee, the Commissioner shall charge and collect from the licensee a fee for conducting the examination and in preparing and typing the report at the rate established and, if applicable, adjusted pursuant to NRS 658.101.
(Added to NRS by 1977, 1086; A 1979, 956; 1983, 267, 1767; 1987, 1953, 2224; 2017, 398; 2023, 127)—(Substituted in revision for NRS 671.120)