Nev. Rev. Stat. § 628B.590

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 628B.590 - Authority of Commissioner to require licensee to submit annual financial statement or audit; annual submission of ledger of stockholders or list of members and managers; fee for noncompliance; submission of more frequent reports; regulations

1. The Commissioner may require a licensee to submit an annual financial statement or an audited financial statement prepared by an independent certified public accountant licensed to do business in this State, dependent upon the size and complexity of the private professional guardian company.

2. If applicable, on or before April 15 of each year, each licensee shall submit to the Commissioner and the Registry the stock ledger of stockholders of the corporation required to be maintained pursuant to paragraph (c) of subsection 1 of NRS 78.105 or the list of each member and manager required to be maintained pursuant to paragraph (a) of subsection 1 of NRS 86.241, verified by the president or a manager, as appropriate.

3. A list of each member and manager submitted pursuant to subsection 2 must include the percentage of each member's interest in the company, in addition to the requirements set forth in NRS 86.241.

4. If a licensee fails to submit the ledger or list required pursuant to this section within the prescribed period, the Commissioner may impose and collect a fee of not more than $10 for each day the report is late.

5. The Commissioner may require a licensee to file more frequent reports as the Commissioner determines necessary.

6. The Commissioner shall adopt regulations establishing the amount of the fee that may be imposed pursuant to this section.

NRS 628B.590

Added to NRS by 2015, 2358; A 2021, 2058

Amended by 2021, Ch. 347,§65, eff. on the date on which the Commissioner of Financial Institutions notifies the Governor and the Director of the Legislative Counsel Bureau that the Nationwide Multistate Licensing System and Registry has sufficient capabilities to allow the Commissioner to carry out the amendatory provisions for all other purposes.

Added by 2015, Ch. 409,§40, eff. 1/1/2016.