Nevada Administrative Code

NAC 669A.110 “Examination period” defined. (NRS 669A.270) “Examination period” means the period of time since a license was issued to a licensed family trust company or since the most recent examination of a licensed family trust company, whichever is later, or such other period …

NAC 669A.120 “Independent review” defined. (NRS 669A.270) “Independent review” means a review of a licensed family trust company conducted by a qualified firm pursuant to NAC 669A.230. (Added to NAC by Comm’r of Financial Institutions by R051-16, 6-28-2016, eff. 1-1-2017)

NAC 669A.130 “Independent review report” defined. (NRS 669A.270) “Independent review report” means a written report prepared by a qualified firm setting forth the results of an independent review. (Added to NAC by Comm’r of Financial Institutions by R051-16, 6-28-2016, eff. 1-1-2…

NAC 669A.140 “Licensed family trust company office” defined. (NRS 669A.270) “Licensed family trust company office” means the physical office maintained in this State pursuant to subsection 2 of NRS 669A.140. (Added to NAC by Comm’r of Financial Institutions by R051-16, 6-28-2016,…

NAC 669A.150 “Management of the licensed family trust company” defined. (NRS 669A.270) “Management of the licensed family trust company” means the committees, officers and managers of a licensed family trust company. (Added to NAC by Comm’r of Financial Institutions by R051-16, 6…

NAC 669A.160 “Off-site examination” defined. (NRS 669A.270) “Off-site examination” means an examination conducted by the Division in accordance with the procedures established in NAC 669A.210. (Added to NAC by Comm’r of Financial Institutions by R051-16, 6-28-2016, eff. 1-1-2017)

NAC 669A.170 “On-site examination” defined. (NRS 669A.270) “On-site examination” means an examination conducted by the Division in accordance with the procedures established in NAC 669A.220. (Added to NAC by Comm’r of Financial Institutions by R051-16, 6-28-2016, eff. 1-1-2017)

NAC 669A.180 “Qualified firm” defined. (NRS 669A.270) “Qualified firm” means a person who meets the standards set forth in subsection 2 of NAC 669A.230. (Added to NAC by Comm’r of Financial Institutions by R051-16, 6-28-2016, eff. 1-1-2017)

NAC 669A.190 “Report of examination” defined. (NRS 669A.270) “Report of examination” means a written report prepared by the Division pursuant to NAC 669A.260 describing the results of an examination. (Added to NAC by Comm’r of Financial Institutions by R051-16, 6-28-2016, eff. 1-…

NAC 669A.200 Off-site examination, independent review or on-site examination: When required; notice of examination; fees. (NRS 658.101, 669A.260, 669A.270) 1. Except as otherwise provided in subsection 2, each licensed family trust company shall undergo an off-site examination or…

NAC 669A.210 Off-site examination: Submission of information and documentation to Division; notice of incorrect or incomplete information or documentation; consequences for late submission. (NRS 669A.270, 669A.290) 1. A licensed family trust company undergoing an off-site examina…

NAC 669A.220 On-site examination: Company required to provide Division reasonable access to office; provision of information and documentation to Division; notice of incorrect or incomplete information or documentation; fee for failure to submit. (NRS 669A.270, 669A.290) 1. A lic…

NAC 669A.230 Independent review: Notice to Division; qualifications of reviewer; compliance with certain professional standards and laws; contents of independent review report; submission of report and financial statements to Division; administrative review of report by Division;…

NAC 669A.240 Procedures for conduct of examination. (NRS 669A.270) The Division will, and a qualified firm shall, perform the examination in accordance with the examination procedures as follows: 1. If applicable, review the results of the most recent examination and confirm with…

NAC 669A.250 Request for written clarification or modification of examination guidance; issuance of clarification or modification for good cause; examination guidance and any clarification or modification constitutes scope of examination. (NRS 669A.270) 1. A licensed family trust…

NAC 669A.260 Report of examination and independent review report; ratings; authorized enforcement actions and corrective action; retention or destruction of records by Division; confidentiality of reports. (NRS 669A.270) 1. Within 60 days after the completion of an on-site examin…

NAC 670.010 Fee for supervision and related activities: Amount; collection; failure to pay. (NRS 658.101, 670.067, 670.250) 1. The Commissioner of Financial Institutions will charge and collect a fee of $30 per hour from each development corporation for any supervision, examinati…

NAC 670.020 Fees: Application for license to conduct business. (NRS 670.067, 670.115) An application to conduct business as a development corporation submitted pursuant to NRS 670.115 must be accompanied by: 1. A nonrefundable fee of $1,500; and 2. A fee of $300, prorated by the …

NAC 670.030 Fees: Renewal of license; reinstatement of expired license. (NRS 670.067, 670.240) 1. A licensed development corporation shall pay annually to the Division of Financial Institutions of the Department of Business and Industry a fee of $375 for the renewal of the licens…

NAC 670.040 Fee for failure to submit required report. (NRS 670.067, 670.250, 670.320) A licensed development corporation shall pay a fee of $10 for each day that: 1. An annual report due pursuant to NRS 670.250; or 2. Any other report required pursuant to this chapter or chapter…

NAC 670.050 Annual assessments to cover costs related to performance of audits and examinations. (NRS 658.055, 670.067, 670.250) 1. Except as otherwise provided in NAC 658.030, each licensed development corporation shall pay to the Division of Financial Institutions of the Depart…

NAC 670.060 Prerequisites to conduct of business. (NRS 670.067) A person shall not conduct business as a development corporation in this State unless: 1. He possesses any license, certificate or permit required by this chapter, chapter 670 of NRS or a local governmental entity; a…

NAC 670.070 Revocation or suspension of license. (NRS 670.067) The Commissioner of Financial Institutions may revoke or suspend the license of a development corporation pursuant to procedures provided in chapter 670 of NRS if the development corporation violates any provision of …

NAC 670.080 Inspection of documents filed with Division of Financial Institutions. (NRS 670.067) Except as otherwise provided in NAC 670.090 or by specific statute, all papers, documents, reports and other written instruments filed with the Division of Financial Institutions of t…

NAC 670.090 Complaints: Failure to respond; confidentiality. (NRS 670.067) 1. If a licensed development corporation, or an authorized representative of that licensee, fails to respond to the Commissioner of Financial Institutions within 20 business days after receipt of a written…

NAC 670A.010 Fee for supervision and related activities: Amount; collection; failure to pay. (NRS 658.101, 670A.060, 670A.260) 1. The Commissioner of Financial Institutions will charge and collect a fee of $30 per hour from each corporation for any supervision, examination, audit…

NAC 670A.020 Fee: Application for license to conduct business. (NRS 670A.060, 670A.130) An application for a license to conduct business as a corporation for economic revitalization and diversification must be accompanied by a nonrefundable fee of $1,500. (Added to NAC by Comm’r …

NAC 670A.030 Fee: Renewal of license. (NRS 670A.060, 670A.250) A licensed corporation for economic revitalization and diversification shall pay annually to the Division of Financial Institutions of the Department of Business and Industry a fee of $150 for the renewal of the licen…

NAC 670A.040 Fee: Failure to submit required report. (NRS 670A.060, 670A.310) A licensed corporation for economic revitalization and diversification shall pay a fee of $10 for each day that any report required pursuant to this chapter or chapter 670A of NRS is overdue. (Added to …

NAC 670A.050 Annual assessments to cover costs related to performance of audits and examinations. (NRS 658.055, 670A.060, 670A.260) 1. Except as otherwise provided in NAC 658.030, each licensed corporation for economic revitalization and diversification shall pay to the Division …

NAC 670A.060 Prerequisites to conduct of business. (NRS 670A.060) A person shall not conduct business as a corporation for economic revitalization and diversification in this State unless: 1. He possesses each license, certificate and permit required by this chapter, chapter 670A…

NAC 670A.070 Revocation or suspension of license. (NRS 670A.060) The Commissioner of Financial Institutions may revoke or suspend the license of a corporation for economic revitalization and diversification pursuant to procedures provided in chapter 670A of NRS if the licensee vi…

NAC 670A.080 Inspection of documents filed with Division of Financial Institutions. (NRS 670A.060) Except as otherwise provided in NAC 670A.090 or by specific statute, all papers, documents, reports and other written instruments filed with the Division of Financial Institutions o…

NAC 670A.090 Complaints: Failure to respond in timely manner; confidentiality. (NRS 670A.060) 1. If a licensed corporation for economic revitalization and diversification, or an authorized representative of that licensee, fails to respond to the Commissioner of Financial Institut…

NAC 671.005 “Licensee” defined. (NRS 671.030) As used in this chapter, unless the context otherwise requires, “licensee” means any person licensed pursuant to this chapter and chapter 671 of NRS. (Added to NAC by Comm’r of Financial Institutions by R109-06, eff. 6-28-2006)

NAC 671.007 Requirements for issuance of license to business entity. (NRS 671.030, 671.055) If an application for a license is submitted by a business entity, the Commissioner will not issue a license to the applicant unless each partner, principal officer, director and trustee, …

NAC 671.010 Fee for supervision and related activities: Amount; collection; failure to pay. (NRS 658.101, 671.030, 671.120) 1. The Commissioner will charge and collect a fee of $75 per hour from each licensee for any supervision, examination, audit, investigation or hearing condu…

NAC 671.020 Fees: Application for license. (NRS 671.030, 671.050) An application for a license submitted pursuant to NRS 671.050 must be accompanied by: 1. A nonrefundable fee of $375; and 2. A fee of $300, prorated by the Commissioner. (Added to NAC by Comm’r of Financial Instit…

NAC 671.030 Fees: Renewal of license; reinstatement of expired license. (NRS 671.030, 671.070) 1. A licensee shall pay annually to the Division a fee of $300 for the renewal of his or her license. 2. If the Commissioner reinstates an expired license, the licensee shall pay a rein…

NAC 671.040 Fees: Application and license for agent of licensee. (NRS 671.030, 671.090) An agent who must be licensed pursuant to NRS 671.090 shall pay to the Division: 1. An application fee of $250; and 2. A license fee of $250. (Added to NAC by Comm’r of Financial Institutions …

NAC 671.050 Fee: Failure to submit required report. (NRS 671.030, 671.183) A licensee shall pay a fee of $10 for each day that any report required pursuant to this chapter or chapter 671 of NRS is overdue. (Added to NAC by Comm’r of Financial Institutions by R109-06, eff. 6-28-20…

NAC 671.060 Annual assessments to cover costs related to legal services and performance of audits and examinations; failure to pay assessments. (NRS 658.055, 658.098, 671.030, 671.120, 671.180) 1. Except as otherwise provided in NAC 658.030, each licensee shall pay to the Divisio…

NAC 671.070 Prerequisites to engaging in business. (NRS 671.030) A person shall not engage in the business of selling or issuing checks or of receiving for transmission or transmitting money or credits in this State unless: 1. The person possesses each license, certificate and pe…

NAC 671.075 Maintenance of separate custodial or trust account and related records. (NRS 671.030) 1. Every licensee shall at all times maintain a separate custodial or trust account in a bank or credit union in which must be deposited all money collected by the licensee. The acco…

NAC 671.080 Revocation, suspension or refusal to renew license. (NRS 671.030, 671.180) The Commissioner may revoke, suspend or refuse to renew a license in accordance with NRS 671.180 if a licensee violates any provision of this chapter or chapter 671 of NRS, including, without l…

NAC 671.085 Administrative fines and orders to cease and desist. (NRS 671.030, 671.185) 1. If a person engages in an activity in violation of the provisions of this chapter or chapter 671 of NRS, the Commissioner may issue an order to the person imposing an administrative fine pu…

NAC 671.090 Inspection of documents filed with Division. (NRS 671.030) Except as otherwise provided in NAC 671.100 and 671.130 and NRS 671.170, all papers, documents, reports and other written instruments filed with the Division pursuant to this chapter and chapter 671 of NRS are…