Title 55

NRS 657A.150 “Innovation” defined. “Innovation” means any use of a new or emerging technology, or any novel use of an existing technology, to address a problem, provide a benefit or otherwise offer or provide a financial product or service that is determined by the Director not t…

NRS 657A.160 “Participant” defined. “Participant” means a person whose application to participate in the Program has been approved by the Director pursuant to NRS 657A.420. (Added to NRS by 2019, 3986)

NRS 657A.170 “Program” defined. “Program” means the Regulatory Experimentation Program for Product Innovation established and administered by the Director pursuant to this chapter. (Added to NRS by 2019, 3986)

NRS 657A.180 “Test” defined. “Test” means to offer or provide a financial product or service through the Program. (Added to NRS by 2019, 3986) ADMINISTRATION OF PROGRAM

NRS 657A.200 Establishment of Program. In consultation with each applicable regulator, the Director shall establish and administer the Regulatory Experimentation Program for Product Innovation to enable a person to obtain limited access to markets in this State to test a financia…

NRS 657A.210 Regulations. 1. The Director shall, in consultation with the Consumer’s Advocate of the Bureau of Consumer Protection in the Office of the Attorney General and the applicable regulator, adopt regulations that establish protections for consumers of financial products …

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…

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 …

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…

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 lice…

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 limitation…

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 issue…

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…

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 pro…

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 se…

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 submit…

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…

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 u…

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 participant…

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 t…

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 ma…

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 …

NRS 657A.600 Establishment of toll-free telephone number and Internet website for complaints. The Director shall establish and maintain a toll-free telephone number and Internet website through which a consumer may submit a complaint relating to any financial product or service p…

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 …

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…