Nev. Admin. Code § 669A.220 - On-site examination: Company required to provide Division reasonable access to office; provision of information and documentation to Division; notice of incorrect or incomplete information or documentation; fee for failure to submit
Current through October 13, 2021
NRS 669A.270, 669A.290
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NAC 669A.220 On-site examination: Company required to provide Division reasonable access to office; provision of information and documentation to Division; notice of incorrect or incomplete information or documentation; fee for failure to submit. (NRS 669A.270, 669A.290)
1. A licensed family trust company undergoing an on-site examination shall provide to the Division reasonable access, as determined by the Commissioner, to its licensed family trust company office during the examination and provide, at the time of the examination and at the location of its licensed family trust company office, 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 at the time of the on-site examination or fails to comply with the provisions of subsection 2, the Commissioner may impose a fee of $25 per day for each day after the on-site examination or the time period set forth in subsection 2, as appropriate, that the licensed family trust company has failed to provide the required information or documentation.
(Added to NAC by Comm’r of Financial Institutions by R051-16, 6-28-2016, eff. 1-1-2017)