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Nevada Revised Statutes Title 54. Professions, Occupations and Businesses § 645B.018. Exemptions for certain loans: Grounds for granting; revocation; issuance of statement by Commissioner of reasons for granting, denying or revoking

Current as of January 01, 2025 | Updated by Findlaw Staff

1. A person may apply to the Commissioner for an exemption from the provisions of this chapter governing the making of a loan of money, except that an exemption may not be issued for the making of a residential mortgage loan.

2. The Commissioner may grant the exemption if the Commissioner finds that:

(a) The making of the loan would not be detrimental to the financial condition of the lender, the debtor or the person who is providing the money for the loan;

(b) The lender, the debtor or the person who is providing the money for the loan has established a record of sound performance, efficient management, financial responsibility and integrity;

(c) The making of the loan is likely to increase the availability of capital for a sector of the state economy; and

(d) The making of the loan is not detrimental to the public interest.

3. The Commissioner:

(a) May revoke an exemption unless the loan for which the exemption was granted has been made; and

(b) Shall issue a written statement setting forth the reasons for his or her decision to grant, deny or revoke an exemption.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 54. Professions, Occupations and Businesses § 645B.018. Exemptions for certain loans: Grounds for granting; revocation; issuance of statement by Commissioner of reasons for granting, denying or revoking - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-54-professions-occupations-and-businesses/nv-rev-st-645b-018/

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