Nev. Admin. Code § 645B.0086 - "Insolvent" interpreted
For the purposes of subparagraph (1) of paragraph (b) of subsection 1 of NRS 645B.670, "insolvent" is interpreted to mean that the liabilities of a mortgage company exceed his or her assets, as calculated by the Commissioner in accordance with generally accepted accounting principles, and the calculation:
1. Must exclude any intangible and any amount receivable by the mortgage company that is related to the intangible; and
2. May exclude any shareholder debt that is subordinated.
Notes
NRS 645B.060
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.