Nev. Admin. Code § 669A.210 - Off-site examination: Submission of information and documentation to Division; notice of incorrect or incomplete information or documentation; consequences for late submission
Current through October 13, 2021
NRS 669A.270, 669A.290
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NAC 669A.210 Off-site examination: Submission of information and documentation to Division; notice of incorrect or incomplete information or documentation; consequences for late submission. (NRS 669A.270, 669A.290)
1. A licensed family trust company undergoing an off-site examination shall submit, within the time period set forth in the notice of examination provided pursuant to NAC 669A.200, all information and documentation required for the examination.
2. If the Division determines that incorrect or incomplete information or documentation has been submitted pursuant to subsection 1, the Division will notify the licensed family trust company of the information or documentation that must be provided to complete or correct the initial submission. The licensed family trust company shall provide the information required by the Division pursuant to this subsection within 45 days after the Division issues a notice pursuant to this subsection unless the Commissioner extends the time period for a response for good cause.
3. If a licensed family trust company fails to submit the information and documentation required pursuant to subsection 1 within the time period set forth in the notice of examination or fails to comply with the provisions of subsection 2, the Commissioner may:
(a) Impose a fee of $25 per day for each day after the time period set forth in the notice of examination or in subsection 2, as appropriate, that the licensed family trust company has failed to provide the required information or documentation; or
(b) Require the licensed family trust company to undergo an on-site examination.
(Added to NAC by Comm’r of Financial Institutions by R051-16, 6-28-2016, eff. 1-1-2017)