reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.220 - License or authorization from other jurisdiction; Director may enter into agreements concerning license or authorization.

1. Nothing contained in this chapter shall be deemed to prohibit a participant who holds a license or other authorization in another jurisdiction from acting in accordance with that license or authorization.
2. The Director may enter into an agreement with any governmental agency or official of any other jurisdiction to authorize:
(a) A participant to operate in such a jurisdiction; or
(b) A person who is authorized to operate in such a jurisdiction to be a participant.
(Added to NRS by 2019, 3992)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.230 - Participant deemed to hold a license or other authorization.

For the purposes of any federal statute or regulation requiring a participant to hold a license or other authorization from this State in connection with a financial product or service, a participant shall be deemed to hold such a license or other authorization.
(Added to NRS by 2019, 3992)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.300 - Financial product or service provided within Program: Requirements and limitations.

Any financial product or service provided within the scope of the Program is subject to the following requirements and limitations:
1. Any consumer of the product or service must be a resident of this State on the date that the product or service is first provided to the consumer.
2. Except as otherwise provided in subsection 3, not more than 5,000 consumers may be provided a given product or service by a participant during the period of testing.
3. If the Director approves a request for relief by a participant pursuant to NRS 657A.320, not more than 7,500 consumers may be provided a given product or service by the participant during the period of testing.
(Added to NRS by 2019, 3988)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.310 - Limitations on transactions.

1. Except as otherwise provided in subsection 2, in addition to complying with any other applicable requirements and limitations, a participant who is testing a financial product or service within the scope of the Program for which a license is otherwise required pursuant to chapter 671 of NRS shall not receive for transmission or transmit during the period of testing:
(a) More than $2,500 in any single transaction for a consumer.
(b) More than $25,000 in any series of transactions for a consumer.
2. If the Director approves a request for relief by a participant pursuant to NRS 657A.320, the participant shall not receive for transmission or transmit during the period of testing:
(a) More than $15,000 in any single transaction for a consumer.
(b) More than $50,000 in any series of transactions for a consumer.
(Added to NRS by 2019, 3989)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.320 - Request for relief from certain limitations; approval, denial, rescission or modification of request.

1. At any time during the period of testing a financial product or service, a participant may submit to the Director a written request for relief from the limitations of subsection 2 of NRS 657A.300 or subsection 1 of NRS 657A.310, or both, as they otherwise apply to the participant.
2. In accordance with any regulations adopted pursuant to NRS 657A.210, the Director may:
(a) Approve a request for relief if the Director determines that the participant has adequate capitalization and satisfactory procedures and processes in place for the oversight of its operations and the management of risk.
(b) Rescind or modify at any time his or her approval of a request for relief.
3. The approval, denial, rescission or modification of approval of a request for relief is final and not subject to administrative or judicial review.
(Added to NRS by 2019, 3989)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.330 - Required disclosures.

1. Before providing any financial product or service to a consumer, a participant shall disclose to the consumer:
(a) The name and contact information of the participant;
(b) The registration number applicable to the product or service, as issued by the Director pursuant to NRS 657A.430;
(c) The fact that the product or service is generally exempt from any provisions of this title, chapter 645A, 645B, 645F or 645G of NRS or any regulation adopted pursuant thereto, except as otherwise required by the Director pursuant to NRS 657A.430 or 657A.620;
(d) If applicable, the fact that the participant is not the holder of a license or other authorization in this State to provide any product or service outside the scope of the Program;
(e) The fact that the participant has been approved to provide the product or service pursuant to this chapter, but that the product or service is not endorsed or recommended by the Director or any governmental agency;
(f) The fact that the product or service is provided as part of a test and may be discontinued at or before the end of the test, with the date on which the test is expected to end; and
(g) The fact that the consumer may submit a complaint to the Director relating to the product or service, with the telephone number and Internet address of the Internet website maintained by the Director pursuant to NRS 657A.600.
2. The Director may condition approval of an application to participate in the Program on, or require at any time thereafter, the disclosure by a participant of information relating to a product or service in addition to the disclosures required by subsection 1. The Director shall give written notice to the participant of any additional disclosures required pursuant to this subsection.
3. The disclosures required by subsections 1 and 2, as applicable, must be clear and conspicuous and must be provided in English and Spanish. If a product or service is provided through an Internet website or mobile application, the consumer must acknowledge receipt of the disclosures before the completion of any transaction.
(Added to NRS by 2019, 3989)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.340 - Period of testing.

Unless a timely request for an extension of the period of testing is made and approved pursuant to NRS 657A.350:
1. The period of testing for a financial product or service ends 2 years after the date of the notice given pursuant to NRS 657A.420.
2. Except as otherwise provided in this subsection, the participant shall, within 60 days after the end of the period of testing, wind down the test and cease offering or providing the product or service. If the product or service entails the performance of any ongoing duty or function, such as the servicing of a loan, the participant shall continue to perform or contract with another person for the continued performance of the duty or function.
(Added to NRS by 2019, 3991)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.350 - Request for extension of period of testing: Procedure; requirements; approval or denial by Director; report on extension.

1. A participant may request an extension of the period of testing to apply for any license or other authorization required for the financial product or service by any statute or regulation of this State. A participant who desires such an extension must submit a written request to the Director not less than 30 days before the end of the period of testing.
2. The Director shall:
(a) Approve or deny the requested extension before the end of the prescribed period of testing; and
(b) Give written notice of the approval or denial as provided in NRS 657A.420.
3. Only one extension of the period of testing may be granted pursuant to this section. Any such extension must not exceed 1 year in duration.
4. A participant who obtains an extension shall report periodically to the Director, in writing, on the status of the efforts of the participant to obtain a license or other authorization. The first such report must be submitted within 90 days after the date of the notice described in subsection 2, and subsequent reports must be submitted at intervals of not more than 90 days until the application of the participant for a license or other authorization is finally approved or finally denied by the applicable regulator.
(Added to NRS by 2019, 3991)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.400 - Application to participate; requirements for application; fee.

1. A person who desires to participate in the Program to test a financial product or service must submit a written application in accordance with this section, in the form prescribed by the Director. A separate application must be filed for each product or service proposed for testing.
2. The application must show that the applicant will at all times during the test:
(a) Be subject to the exercise of personal jurisdiction by the courts of this State; and
(b) Establish and maintain a physical or virtual location that is reasonably accessible to the Director, from which testing will occur and at which all records, documents and data required by this chapter will be maintained.
3. The application must include:
(a) A description of the product or service proposed for testing and an explanation of:
(1) The innovation included in the product or service;
(2) The regulatory scheme otherwise applicable to the product or service outside the Program;
(3) Any benefit of the product or service to consumers;
(4) Any risk of financial loss or other harm to consumers associated with the product or service;
(5) The nature or features of the product or service that distinguish it from any similar product or service available in this State; and
(6) The manner in which participation in the Program will facilitate a successful test of the product or service;
(b) A statement of the proposed plan for testing the product or service, including:
(1) An estimate of the dates or periods of time anticipated for entry into and exit from the relevant market in this State;
(2) Measures to protect consumers from financial loss or other harm caused by a failure of the test; and
(3) The plan to wind up and terminate the test;
(c) The full legal name, address, telephone number, electronic mail address and website address of the applicant and, if the applicant is not a natural person, each officer, director or other principal of the applicant;
(d) A description of any criminal conviction and any final administrative suspension, revocation or termination of a professional or occupational license of the applicant and any other person described in paragraph (c) if such a conviction or suspension, revocation or termination occurred in this State or another jurisdiction within the 5 years immediately preceding the date of the application;
(e) The consent of the applicant to the provisions for choice of law and provisions for the selection of a forum as prescribed by the Director; and
(f) Any other information deemed necessary by the Director.
4. The application must be submitted to the Director and be accompanied by a nonrefundable fee of not more than $1,000. The Director shall account separately for the money received from fees collected pursuant to this section and use that money solely to pay the expenses of administering the Program.
(Added to NRS by 2019, 3986)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.410 - Director may refuse incomplete application; applicant required to provide additional information upon request; Director required to consult with certain regulators; timeline to approve or deny application.

1. The Director may refuse to consider any application submitted pursuant to NRS 657A.400 if the application does not include the information required by NRS 657A.400 or any other information deemed necessary by the Director. The applicant shall provide, within the period directed by the Director, any additional information required in connection with the application. If the required information is not provided, the application may be denied by the Director as incomplete.
2. Upon receipt of a completed application and payment of the required fee, the Director shall identify and consult with each applicable regulator having an interest in the subject of the application. The consultation is advisory only and not binding on the Director. The consultation may relate to any matter deemed by the Director to be relevant to the application, including, without limitation:
(a) Any license or other authorization previously issued by the applicable regulator, or the corresponding regulator in another jurisdiction, to the applicant or any other person described in paragraph (c) of subsection 3 of NRS 657A.400;
(b) Any criminal, civil, administrative or other proceeding previously brought by or on behalf of the applicable regulator, or the corresponding regulator in any other jurisdiction, against the applicant or any other person described in paragraph (c) of subsection 3 of NRS 657A.400; and
(c) The ability of the applicant or any other person described in paragraph (c) of subsection 3 of NRS 657A.400 to qualify for a license or other authorization from the applicable regulator upon the completion of testing.
3. Unless the Director and the applicant mutually agree to extend this period, the Director shall approve or deny an application within 90 days after the completed application is received.
(Added to NRS by 2019, 3987)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.420 - Approval or denial of application; notice of approval or denial.

1. Except as otherwise provided in this subsection, the Director may approve or deny any application or request submitted pursuant to this chapter. The Director may not approve an application or request if provision of the relevant financial product or service to consumers in this State would exceed the applicable limitation provided by subsection 2 or 3 of NRS 657A.300.
2. The Director shall give the applicant or participant written notice of the approval or denial of the application or request within 5 business days after the date of approval or denial.
3. The approval or denial of an application or request is final and not subject to administrative or judicial review.
(Added to NRS by 2019, 3988)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.430 - Issuance of registration upon approval of application; conditional approval of application.

1. If the Director approves an application to participate in the Program:
(a) The applicant shall be deemed a participant.
(b) The Director shall issue a registration number unique to the approval.
(c) Except as otherwise required by the Director pursuant to subsection 2 or NRS 657A.620, a product or service offered or provided within the scope of the Program is exempt from any provision of this title, chapter 645A, 645B, 645F or 645G of NRS or any regulation adopted pursuant thereto.
2. In addition to any other requirements or limitations of NRS 657A.300 or 657A.310 that apply to a product or service, the Director may condition approval of an application upon compliance by the participant with one or more provisions of this title, chapter 645A, 645B, 645F or 645G of NRS or any regulation adopted pursuant thereto.
3. A notice of approval of an application given pursuant to NRS 657A.420 must be accompanied by a copy of the provisions of this chapter and any applicable regulations of the Director then in effect, and set forth:
(a) The registration number applicable to the approval;
(b) The period of testing prescribed by NRS 657A.340;
(c) The general limitations of NRS 657A.300, any additional requirements or limitations applicable specifically to the product or service pursuant to NRS 657A.310 and any conditions imposed pursuant to subsection 2 or NRS 657A.620; and
(d) Any additional information required by the Director to be disclosed to consumers pursuant to subsection 2 of NRS 657A.330.
(Added to NRS by 2019, 3988)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.500 - Regulations concerning reporting; required records and reporting; participant to notify Director of failed product or service or unauthorized acquisition of computerized data.

1. The Director may establish by regulation periodic reporting requirements for participants in the Program.
2. On request by the Director, a participant shall make any requested record, information or data available for inspection and copying by the Director.
3. Each participant shall retain, for not less than 2 years after the end of the prescribed period of testing or for such longer period as the Director requires by order or regulation, all records and data produced in the ordinary course of business relating to a financial product or service tested in the Program.
4. If a product or service fails before the end of the period of testing, the participant shall:
(a) Give written notice of the failure to the Director.
(b) Include in the notice a description of any action taken by the participant to protect consumers from financial loss or other harm caused by the failure.
5. In addition to providing any other disclosure or notice of the unauthorized acquisition of computerized data required by any applicable statute or regulation, a participant shall promptly notify the Director of any unauthorized acquisition of computerized data constituting a breach of the security of the system data as that term is defined in NRS 603A.020.
(Added to NRS by 2019, 3990)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.510 - Confidentiality of records and information; immunity from liability for Director and applicable regulators concerning disclosure of certain records and information; admissibility of certain records and information.

1. Any record or information in a record submitted to or obtained by the Director or an applicable regulator pursuant to this chapter:
(a) Except as otherwise provided in this section, is confidential and not a public book or record within the meaning of NRS 239.010.
(b) May be disclosed by the Director or an applicable regulator to:
(1) Any governmental agency or official; or
(2) A federal, state or county grand jury in response to a lawful subpoena.
2. Any disclosure pursuant to subsection 1 of a complaint relating to a financial product or service or the results of an examination, inquiry or investigation relating to a participant or product or service does not make the relevant record or information in a record a public record within the meaning of NRS 239.010, and a participant shall not disclose any such record or information to the general public except in connection with any disclosure required by law. A participant shall not disclose, use or refer to any comments, conclusions or results of an examination, inquiry or investigation in any communication to a consumer or potential consumer.
3. The Director and any applicable regulator are immune from civil liability for any damages sustained because of a disclosure of any record or information in a record that is received or obtained pursuant to this chapter.
4. Nothing contained in this section shall be deemed to preclude the disclosure of any record or information in a record that is admissible in evidence in any civil or criminal proceeding brought by a state or federal law enforcement agency to enforce or prosecute a civil or criminal violation of any law.
(Added to NRS by 2019, 3990)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.520 - Electronic form of certain information; substitution of certain information.

Any information, writing, signature, record or disclosure required by the provisions of this chapter or any regulation adopted pursuant thereto, may:
1. Be obtained, recorded, provided or maintained by a participant in electronic form.
2. With the approval of the Director, be substituted by a participant with any substantially equivalent information, writing, signature, record or disclosure.
(Added to NRS by 2019, 3991)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.530 - Report by Director to Legislature.

1. On or before March 1 of each year, the Director of the Department of Business and Industry shall prepare and submit to the Director of the Legislative Counsel Bureau, for transmittal to the Legislature, a report on the operation and status of the Program.
2. The report must include, for the immediately preceding calendar year:
(a) The number of applications submitted to participate in the Program, and the number of applications that were approved or denied;
(b) With respect to the applications that were denied, a description of the reasons for denial; and
(c) With respect to the applications that were approved:
(1) A description of each financial product or service provided by each participant in the Program;
(2) A statement of the number of participants providing each product or service; and
(3) An estimate of the number of consumers using each product or service.
3. The report may include any recommendations for legislation relating to the Program and any other information that the Director of the Department of Business and Industry deems relevant.
(Added to NRS by 2019, 3993)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.610 - Powers of Director to enforce chapter.

1. If the Director has reasonable cause to believe that a participant has engaged in, is engaging in or threatens to engage in any act or omission in violation of any provision of this chapter or any other applicable statute or regulation for which a civil or criminal penalty is prescribed, the Director may:
(a) Request that the Attorney General bring an action in any court of competent jurisdiction to enjoin the violation;
(b) Remove the participant from the Program or order the participant to exit the Program; or
(c) Take any combination of those actions.
2. A removal of or compelled exit of a participant from the Program is final and not subject to administrative or judicial review.
(Added to NRS by 2019, 3992)
2023 Nevada Revised Statutes › Chapter 657A - Regulatory Experimentation Program for Product Innovation › NRS 657A.620 - Powers of Director to take action relating to certain acts or omissions of participants.

1. If the Director has reasonable cause to believe that a participant has engaged in, is engaging in or threatens to engage in any act or omission that the Director determines is inconsistent with the health, safety or welfare of consumers or the public generally, the Director may:
(a) Proceed to adopt a regulation to address the issue pursuant to NRS 657A.210;
(b) Require the participant to comply with one or more provisions of this title, chapter 645A, 645B, 645F or 645G of NRS or any regulation adopted pursuant thereto;
(c) Remove the participant from the Program or order the participant to exit the Program; or
(d) Take any combination of those actions.
2. Any action taken by the Director pursuant to this section is final and not subject to judicial or administrative review.
(Added to NRS by 2019, 3992)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.015 - Administration of provisions of certain chapters.

The Commissioner and the Division of Financial Institutions shall administer the provisions of chapters 657 to 671, inclusive, of NRS, subject to administrative supervision by the Director of the Department of Business and Industry.
(Added to NRS by 1971, 966; A 1983, 1721; 1987, 1898; 1993, 1894)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.021 - Commissioner: Qualifications; restrictions on other employment.

The Commissioner:
1. Must be a person who has had practical experience in banking, savings and loan associations, savings banks or other financial institutions.
2. Except as otherwise provided in NRS 284.143, shall devote his or her entire time and attention to the business of his or her office and shall not pursue any other business or occupation or hold any other office of profit.
(Added to NRS by 1983, 1721; A 1987, 1898; 1995, 2318)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.025 - Commissioner prohibited from having interest in bank or regulated corporation.

The Commissioner must not, either directly or indirectly, be interested in any bank or corporation to which chapters 657 to 671, inclusive, of NRS are applicable, except as a depositor, nor engage in business as a personal loan broker.
(Added to NRS by 1971, 966; A 1983, 1721; 1987, 1898)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.055 - Deputy commissioners; other employees; independent audits and examinations; assessments; Account for Auditing Financial Institutions.

1. The Commissioner may appoint deputy commissioners of financial institutions, examiners, assistants, clerks, stenographers and other employees necessary to assist the Commissioner in the performance of the Commissioner’s duties pursuant to this title or any other law. These employees shall perform such duties as are assigned to them by the Commissioner.
2. The Commissioner shall employ a certified public accountant to review and conduct independent audits and examinations of financial institutions. The Commissioner shall levy an assessment upon each licensed financial institution to cover all of the costs related to the employment of the certified public accountant and the performance of the audits and examinations.
3. Assessments collected by the Commissioner pursuant to subsection 2 must be deposited in the State Treasury for credit to the Account for Auditing Financial Institutions, which is hereby created in the State General Fund. Money in the Account may be used by the Commissioner or for any purpose authorized by the Legislature. The Commissioner may advance money from the Account, for the purposes specified in subsection 2.
(Added to NRS by 1971, 966; A 1983, 1722; 1985, 447; 1987, 826, 1898; 1989, 919; 1991, 1806; 2010, 26th Special Session, 25)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.085 - Advisory capacity of State Board of Finance.

The State Board of Finance shall act in an advisory capacity to the Division of Financial Institutions in the administration of the provisions of chapters 657 to 671, inclusive, of NRS and perform such other functions as are required by those provisions.
(Added to NRS by 1971, 966; A 1983, 1722)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.091 - Deposit, use and disposition of money; Commissioner to administer account.

1. Except as otherwise provided by law, any money appropriated to the Commissioner or the Division of Financial Institutions and any money collected by the Commissioner or Division pursuant to law:
(a) Must be deposited in the State Treasury and accounted for separately in the State General Fund; and
(b) May only be used to:
(1) Carry out the programs and laws administered by the Commissioner and the Division; and
(2) Pay the expenses related to the operations of the Commissioner and the Division.
2. Except as otherwise provided by law, any money that remains in the account at the end of the fiscal year does not revert to the State General Fund, and the balance of the account must be carried forward to the next fiscal year.
3. The Commissioner shall administer the account. Any interest or income earned on the money in the account must be credited to the account, after deducting any applicable charges. Any claims against the account must be paid as other claims against the State are paid.
(Added to NRS by 2003, 3225)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.096 - Fees charged by Commissioner; regulations.

1. The Commissioner shall charge and collect the following fees in connection with the Commissioner’s official duties:
(a) For licensing of state banks:
(1) A fee of not more than $400 for each parent bank, payable on June 30 of each year.
(2) A fee of not more than $200 for each branch bank or trust office, payable on June 30 of each year.
The fees must accompany the application for renewal of the license. A penalty of 10 percent of the fee must be charged for each month or part of a month that the fees are not paid after June 30 of each year.
(b) For applications for new branch banks or trust offices, a nonrefundable fee of not more than $400 for the application and survey, to be paid by the applicant at the time of making the application. The applicant must 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 paragraph must be placed in the Investigative Account for Financial Institutions created by NRS 232.545.
(c) For examinations and the examination of trust departments of state banks or trust offices, a fee for conducting the examination and for preparing and typing the report of the examination at the rate established and, if applicable, adjusted pursuant to NRS 658.101.
2. Except as otherwise provided in NRS 658.101, the Commissioner shall adopt regulations establishing the amount of the fees required pursuant to this section.
3. Except as otherwise provided in paragraph (b) of subsection 1, all money collected pursuant to this section must be deposited in the State Treasury pursuant to the provisions of NRS 658.091.
4. As used in this section, "trust office" has the meaning ascribed to it in subsection 4 of NRS 662.239.
(Added to NRS by 1971, 967; A 1979, 955; 1981, 754; 1983, 1315, 1722; 1987, 1898, 2223; 1989, 2032; 1991, 1806; 1999, 839; 2003, 3226; 2005, 1842; 2017, 396)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.098 - Assessment for cost of legal services provided to Commissioner and Division of Financial Institutions; deposit of money in State Treasury.

1. On a quarterly or other regular basis, the Commissioner shall collect an assessment pursuant to this section from each:
(a) Check-cashing service or deferred deposit loan service that is supervised pursuant to chapter 604A of NRS;
(b) Collection agency that is supervised pursuant to chapter 649 of NRS;
(c) Bank that is supervised pursuant to chapters 657 to 668, inclusive, of NRS;
(d) Trust company or family trust company that is supervised pursuant to chapter 669 or 669A of NRS;
(e) Person engaged in the business of money transmission that is supervised pursuant to chapter 671 of NRS;
(f) Savings and loan association or savings bank that is supervised pursuant to chapter 673 of NRS;
(g) Person engaged in the business of lending that is supervised pursuant to chapter 675 of NRS;
(h) Thrift company that is supervised pursuant to chapter 677 of NRS;
(i) Credit union that is supervised pursuant to chapter 672 of NRS;
(j) Consumer litigation funding company that is supervised pursuant to chapter 604C of NRS; and
(k) Student loan servicer that is supervised pursuant to chapter 670B of NRS.
2. The Commissioner shall determine the total amount of all assessments to be collected from the entities identified in subsection 1, but that amount must not exceed the amount necessary to recover the cost of legal services provided by the Attorney General to the Commissioner and to the Division of Financial Institutions. The total amount of all assessments collected must be reduced by any amounts collected by the Commissioner from an entity for the recovery of the costs of legal services provided by the Attorney General in a specific case.
3. The Commissioner shall collect from each entity identified in subsection 1 an assessment that is based on:
(a) A portion of the total amount of all assessments as determined pursuant to subsection 2, such that the assessment collected from an entity identified in subsection 1 shall bear the same relation to the total amount of all assessments as the total assets of that entity bear to the total of all assets of all entities identified in subsection 1; or
(b) Any other reasonable basis adopted by the Commissioner.
4. The assessment required by this section is in addition to any other assessment, fee or cost required by law to be paid by an entity identified in subsection 1.
5. Money collected by the Commissioner pursuant to this section must be deposited in the State Treasury pursuant to the provisions of NRS 658.091.
(Added to NRS by 2003, 3225; A 2003, 20th Special Session, 261; 2005, 1712; 2009, 1135, 2000; 2013, 1248; 2019, 2414; 2023, 96, 2875)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.101 - Rates charged by Commissioner for supervision and examination; annual review and publication of rates.

1. The Commissioner shall establish by regulation rates to be paid by banks and other financial institutions for supervision and examinations by the Commissioner or the Division of Financial Institutions.
2. In establishing a rate pursuant to subsection 1, the Commissioner shall consider:
(a) The complexity of the various examinations to which the rate applies;
(b) The skill required to conduct the examinations;
(c) The expenses associated with conducting the examination and preparing a report; and
(d) Any other factors the Commissioner deems relevant.
3. At least once each year, the Commissioner shall review and analyze the proportional utilization of the resources of the Division of Financial Institutions by banks and other financial institutions as compared to the annual budget approved by the Legislature for the Division of Financial Institutions. If after such review and analysis the Commissioner deems it necessary, the Commissioner shall adjust by regulation the rates established pursuant to subsection 1.
4. The Commissioner shall publish on the Internet website of the Division of Financial Institutions by December 31 of each year the amount of each fee for the following year that results from the rates established and, if applicable, adjusted pursuant to this section.
5. As used in this section, "financial institution" means a depository institution or any other institution or business regulated by the Division of Financial Institutions pursuant to titles 52, 54 and 55. The term includes, without limitation, a holding company, affiliate or subsidiary of such an institution.
(Added to NRS by 1987, 2222; A 2017, 397)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.105 - Powers of Commissioner.

In addition to the other powers conferred upon the Commissioner by chapters 657 to 671, inclusive, of NRS, the Commissioner:
1. Is charged with the enforcement of the provisions of chapters 657 to 671, inclusive, of NRS, subject to administrative supervision by the Director of the Department of Business and Industry;
2. May make and publish regulations for the governing of banks doing business under the provisions of chapters 657 to 671, inclusive, of NRS; and
3. May require banks to furnish an audited financial statement prepared by an independent certified public accountant licensed to do business in Nevada.
(Added to NRS by 1971, 967; A 1983, 1723; 1987, 1899; 1989, 2032; 1993, 1894)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.115 - Summary orders of Commissioner.

1. The Commissioner shall make summary orders in writing as provided in subsections 2 to 5, inclusive.
2. If a bank, a member of its board of directors or any manager, officer, employee, member or stockholder violates the articles of incorporation or organization of the bank or any law related to banking, or, in the opinion of the Commissioner, is conducting its business in an unauthorized or unsafe manner, the Commissioner shall forthwith issue an order, in writing, directing the discontinuance of the unauthorized or unsafe practices.
3. If it appears to the Commissioner that the stockholders’ or members’ equity of any bank has been reduced below the requirements of law, or that the articles of incorporation of the bank have been unlawfully amended to reduce the authorized stock of the bank in violation of NRS 661.035, the Commissioner shall forthwith issue an order directing the bank to make good the deficiency forthwith or within a time specified in the order.
4. If it appears to the Commissioner that the total reserves or reserves on hand of any bank are below the amount required by law to be maintained, or that a bank is not keeping its reserves on hand as required by chapters 657 to 671, inclusive, of NRS, the Commissioner shall forthwith issue an order directing the bank to make good its reserves forthwith, or within the time specified within the order, or that it keep its reserves on hand as required by this title.
5. If it appears to the Commissioner that any bank to which chapters 657 to 671, inclusive, of NRS are applicable does not keep its books or accounts in such a manner as to enable the Commissioner readily to ascertain its true condition, the Commissioner shall issue an order requiring the bank, or the officers or managers thereof, or any of them, to open and keep its books or accounts as he or she may, in the Commissioner’s discretion, determine and prescribe for the purpose of keeping accurate and convenient records of the transactions and accounts of the bank.
(Added to NRS by 1971, 967; A 1983, 1723; 1985, 737; 1987, 1899; 1995, 473; 1997, 975)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.125 - Appeals to State Board of Finance.

Any bank aggrieved by any decision or order issued by the Commissioner or any member of the Commissioner’s staff must appeal to the State Board of Finance if a review of the decision or order is desired. The appeal must be made within 15 days after the decision or order is issued.
(Added to NRS by 1971, 968; A 1983, 1724; 1985, 738; 1987, 1900)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.135 - Attestation of licenses, orders and certificates.

All licenses, orders and certificates issued by the Commissioner must be attested by the seal of the Division of Financial Institutions and by the signature of the Commissioner.
(Added to NRS by 1971, 968; A 1983, 1724; 1987, 1900)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.145 - Power of Commissioner to offer rewards.

1. The Commissioner may offer, under such conditions as the Commissioner may deem proper, rewards not to exceed the sum of $500 in any one case for the arrest and conviction of any officer, director, agent or employee of any bank charged with violating any of the laws of this State relating to banks and banking for which a criminal penalty is provided, or for the arrest and conviction of any person charged with stealing, with or without force, any money, property or thing of value of any bank.
2. The Commissioner shall pay out of the money deposited to the State Treasury pursuant to the provisions of NRS 658.091 all such rewards.
(Added to NRS by 1971, 968; A 1983, 1724; 1987, 1900; 2003, 3227)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.151 - Power of Commissioner to take possession of business and property of depository institution; grounds.

1. The Commissioner may forthwith take possession of the business and property of any depository institution to which this title applies when it appears that the depository institution:
(a) Has violated its charter or any laws applicable thereto.
(b) Is conducting its business in an unauthorized or unsafe manner.
(c) Is in an unsafe or unsound condition to transact its business.
(d) Has an impairment of its stockholders’ or members’ equity.
(e) Has refused to pay its depositors in accordance with the terms on which such deposits were received, or has refused to pay its holders of certificates of indebtedness or investment in accordance with the terms upon which those certificates of indebtedness or investment were sold.
(f) Has become or is in imminent danger of becoming otherwise insolvent.
(g) Has neglected or refused to comply with the terms of a lawful order of the Commissioner.
(h) Has refused, upon proper demand, to submit its records, affairs and concerns for inspection and examination of an appointed or authorized examiner of the Commissioner.
(i) Has made a voluntary assignment of its assets to trustees.
(j) Has failed to pay a tax as required pursuant to the provisions of chapter 363A or 363C of NRS.
2. The Commissioner also may forthwith take possession of the business and property of any depository institution to which this title applies when it appears that the officers of the depository institution have refused to be examined upon oath regarding its affairs.
(Added to NRS by 1971, 1001; A 1983, 1754; 1985, 2155; 1987, 1900; 1997, 975; 2003, 20th Special Session, 225; 2009, 1830; 2015, 2944)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.155 - Penalty: Neglect of duty under certain chapters; false or injurious statement concerning bank; malfeasance or corruption in office.

Any member of the State Board of Finance, the Commissioner or any member of the Commissioner’s staff, who willfully neglects to perform any duty required by chapters 657 to 671, inclusive, of NRS, or who knowingly makes any false statement concerning any bank, or any injurious statement concerning any bank, except in the exercise of his or her duty, or who is guilty of malfeasance or corruption in office, is guilty of a category D felony and shall be punished as provided in NRS 193.130.
(Added to NRS by 1971, 968; A 1979, 1491; 1983, 1724; 1987, 1901; 1995, 1315)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.165 - Officers and employees of Division of Financial Institutions prohibited from having interest in certain banks; exceptions; termination of interest.

1. Except as otherwise provided in subsections 3 and 4, an officer or employee of the Division of Financial Institutions shall not be directly or indirectly interested in or act on behalf of any bank chartered by this State, receive, directly or indirectly, any payment from any such bank, be indebted to any state bank, engage in the negotiation of loans for others with any such bank or obtain credit or services from a state bank conditioned upon a fraudulent practice or undue or unfair preference over other customers.
2. An employee of the Division of Financial Institutions in the unclassified service of the State shall not obtain new extensions of credit from a state bank while in office.
3. Any officer or employee of the Division of Financial Institutions may be indebted to a bank on the same terms as are available to the public generally upon:
(a) A mortgage loan upon his or her own real property.
(b) A secured installment debt.
(c) An unsecured debt.
4. Any officer or employee of the Division of Financial Institutions may establish and maintain deposits with banks to the greatest amount insured, receive interest on those deposits and borrow money secured by a pledge of those deposits.
5. If an officer or employee of the Division of Financial Institutions has a service, a preferred consideration, an interest or a relationship prohibited by this section at the time of his or her appointment or employment, or obtains it during his or her employment, he or she shall terminate it within 120 days after the date of his or her appointment or employment or the discovery of the prohibited act.
(Added to NRS by 1971, 968; A 1975, 934; 1977, 1114; 1983, 1725; 1997, 1623)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.175 - State Board of Finance bound by limitations imposed on Commissioner as to certification of new banks and establishment of branch banks.

Notwithstanding any other provisions of chapters 657 to 671, inclusive, of NRS, the State Board of Finance, in the exercise of its authority to review the action of the Commissioner, is bound by the requirements, conditions and limitations imposed by chapters 657 to 671, inclusive, of NRS on the Commissioner as to the certification of new banks or the establishment of branch banks.
(Added to NRS by 1971, 969; A 1983, 1725; 1987, 1901)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.185 - Incidental powers of Commissioner.

In addition to the express powers, duties and functions given to the Commissioner by chapters 657 to 671, inclusive, of NRS, the Commissioner has such other powers and rights as may be necessary or incident to the proper discharge of the Commissioner’s duties.
(Added to NRS by 1971, 969; A 1983, 1725; 1987, 1901)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.190 - Regulations concerning nontraditional mortgage loan products and certain lending practices.

1. The Commissioner of Financial Institutions shall, with the cooperation of the Commissioner of Mortgage Lending, adopt regulations concerning nontraditional mortgage loan products and lending practices of persons and financial institutions that are required to be licensed or registered pursuant to the provisions of this title and chapter 645B of NRS and which make or offer to make loans that are secured by liens on real property.
2. The regulations required to be adopted by subsection 1 must be substantially similar to the provisions set forth in the "Guidance on Nontraditional Mortgage Product Risks" published by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators on November 14, 2006.
3. If the publication is revised, the Commissioner shall review the revision to determine whether the revision is suitable for this State. If the Commissioner determines that the revision is suitable for this State, he or she shall adopt a regulation that includes the revision.
4. If the Commissioner determines that the revision is not suitable for this State, the Commissioner shall hold a hearing within 60 days after his or her determination and give notice of the hearing. If, after the hearing, the Commissioner does not revise his or her determination, the Commissioner shall give written notice within 30 days after the hearing that the revision is not suitable for this State.
5. As used in this section, "nontraditional mortgage loan product":
(a) Means a residential loan agreement whose terms allow a borrower to defer repayment of principal or payment of interest on the loan for a period.
(b) Includes, without limitation:
(1) An interest-only loan; and
(2) A payment option adjustable-rate mortgage.
(c) Does not include:
(1) A home equity line of credit other than a simultaneous second-lien home equity line of credit; or
(2) A reverse mortgage.
(Added to NRS by 2007, 250; A 2017, 3103)
2023 Nevada Revised Statutes › Chapter 658 - Supervision and Control › NRS 658.195 - Right to sue and defend in actions involving banks; liability to suit.

1. The Commissioner may sue and prosecute or defend in any action or proceeding in any court of this State or any other state and in any court of the United States for the enforcement or protection of any right or pursuit of any remedy necessary or proper in connection with the subjects committed to the Commissioner for administration or in connection with any bank or the rights, liabilities, property or assets thereof, under the Commissioner’s supervision.
2. The Commissioner is not liable to be sued except as other departments and agencies of the State may be liable under the general law.
(Added to NRS by 1971, 969; A 1983, 1726; 1987, 1901)