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Nevada Revised Statutes Title 55. Banks and Related Organizations § 676A.750. Suspension, revocation or denial of renewal of registration by Commissioner

Current as of January 01, 2021 | Updated by FindLaw Staff

1. The Commissioner may suspend, revoke or deny renewal of a provider's registration if:

(a) A fact or condition exists that, if it had existed when the registrant applied for registration as a provider, would have been a reason for denying registration;

(b) The provider has committed a material violation of this chapter or a rule or order of the Commissioner under this chapter;

(c) The provider is insolvent;

(d) The provider or an employee or affiliate of the provider has refused to permit the Commissioner to make an examination authorized by this chapter, failed to comply with paragraph (b) of subsection 2 of NRS 676A.730 within 15 days after request, or made a material misrepresentation or omission in complying with paragraph (b) of subsection 2 of NRS 676A.730; or

(e) The provider has not responded within a reasonable time and in an appropriate manner to communications from the Commissioner.

2. If a provider does not comply with subsection 6 of NRS 676A.570 or if the Commissioner otherwise finds that the public health or safety or general welfare requires emergency action, the Commissioner may order a summary suspension of the provider's registration, effective on the date specified in the order.

3. If the Commissioner suspends, revokes or denies renewal of the registration of a provider, the Commissioner may seek a court order authorizing seizure of any or all of the money in a trust account required by NRS 676A.570, books, records, accounts and other property of the provider which are located in this State.

4. If the Commissioner suspends or revokes a provider's registration, the provider may appeal and request a hearing pursuant to NRS 233B.121 to 233B.150, inclusive.

5. As used in this section, “insolvent” means:

(a) Having generally ceased to pay debts in the ordinary course of business other than as a result of good faith dispute;

(b) Being unable to pay debts as they become due; or

(c) Being insolvent within the meaning of the federal bankruptcy law, 11 U.S.C. §§ 101 et seq.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 55. Banks and Related Organizations § 676A.750. Suspension, revocation or denial of renewal of registration by Commissioner - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-55-banks-and-related-organizations/nv-rev-st-676a-750/

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