NRS 675.055
Exemption from provisions governing making of loans: Application to Commissioner

  • grounds
  • powers and duties of Commissioner
  • regulations
  • fees set by regulation.

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.

2.

The Commissioner may grant the exemption if he or she finds that:

(a)

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

(b)

The lender, borrower or 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;

(b)

Shall issue a written statement setting forth the reasons for his or her decision to grant, deny or revoke an exemption; and

(c)

Shall adopt regulations which provide the application forms to be used to apply for an exemption and the fees to be paid along with the application.
LICENSING

Source: Section 675.055 — Exemption from provisions governing making of loans: Application to Commissioner; grounds; powers and duties of Commissioner; regulations; fees set by regulation., https://www.­leg.­state.­nv.­us/NRS/NRS-675.­html#NRS675Sec055.

Last Updated

Feb. 5, 2021

§ 675.055’s source at nv​.us