NRS 622.234
Written internal controls required concerning withdrawals of money deposited by regulatory body

regular reviews of expenditures
quarterly review of financial statements.

If a regulatory body has established and deposited money in an account in a bank, credit union, savings and loan association or savings bank, the regulatory body must establish written internal controls with respect to any withdrawals from the account, which must include, without limitation:

1.

A system by which two or more members of the regulatory body conduct regular reviews of the expenditures made by the regulatory body and the supporting documentation for such expenditures. Each member who participates in such a review shall prepare a signed and dated attestation regarding his or her participation, which the regulatory body shall retain for its records.

2.

A requirement that the regulatory body conduct a quarterly review of its financial statements, including, without limitation, a schedule of its disbursements.

Source: Section 622.234 — Written internal controls required concerning withdrawals of money deposited by regulatory body; regular reviews of expenditures; quarterly review of financial statements., https://www.leg.state.nv.us/NRS/NRS-622.html#NRS622Sec234.

622.200
Provision of materials to and training of members regarding duties and responsibilities upon initial appointment 622.205
Conditions and limitations regarding members who are not licensees of regulatory body. 622.207
Limitation on tenure of members of regulatory bodies 622.210
Conditions and limitations regarding employment of person whose immediate relative is licensee of regulatory body. 622.213
Contingency fee contract between regulatory body and attorney prohibited. 622.215
Contribution of regulatory body to Fund for Insurance Premiums 622.220
Conditions and limitations regarding employment of person as executive director or executive secretary or in similar position. 622.230
Conditions and limitations regarding contracting with person to provide services as independent contractor. 622.233
Acceptance of credit cards, debit cards and electronic transfers of money: Prerequisites 622.234
Written internal controls required concerning withdrawals of money deposited by regulatory body 622.235
Duty of Department of Administration to adopt regulations establishing standards for financial operation and administration of regulatory bodies and minimum level of professional liability insurance for independent contractor acting as legal counsel for regulatory body.

Last Updated

Feb. 5, 2021

§ 622.234’s source at nv.us

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Location: https://nevada.public.law/statutes/nrs_622.234

Original Source: Section 622.234 — Written internal controls required concerning withdrawals of money deposited by regulatory body; regular reviews of expenditures; quarterly review of financial statements., https://www.leg.state.nv.us/NRS/NRS-622.html#NRS622Sec234 (last accessed Feb. 5, 2021).