2001 REGULAR SESSION (71st) A SB330 R1 898
ASSEMBLY ACTION Initial and Date |SENATE ACTION Initial and Date
Adopted Lost | Adopted Lost
Concurred In Not |Concurred In Not
Receded Not | Receded Not
Amend the bill as a whole by deleting sec. 2 and renumbering sections 3 and 4 as sections 2 and 3.
Amend the bill as a whole by adding a new section designated sec. 4, following sec. 4, to read as follows:
“Sec. 4. NRS 232.545 is hereby amended to read as follows:
232.545 1. An investigative account for financial institutions is hereby created in the state general fund. The account consists of money which is:
(a) Received by the department of business and industry in connection with the licensing of financial institutions and the investigation of persons associated with those institutions; and
(b) Required by law to be placed therein.
2. The director of the department of business and industry or his designee may authorize expenditures from the investigative account to pay the expenses incurred:
(a) In investigating applications for licensing of financial institutions and in investigating persons associated with those institutions;
(b) In conducting special investigations relating to financial institutions and persons associated with those institutions; and
(c) In connection with mergers, consolidations, conversions, receiverships and liquidations of financial institutions.
3. As used in this section, “financial institution” means an institution for which licensing or registration is required by the provisions of Titles 55 and 56 and chapters 604, 645B, 645E and 649 of NRS.”.
Amend the bill as a whole by deleting sec. 5 and renumbering sec. 12 as sec. 5.
Amend the bill as a whole by adding a new section designated sec. 12, following sec. 11, to read as follows:
“Sec. 12. NRS 678.460 is hereby amended to read as follows:
678.460 Every credit union organized under the provisions of this chapter [has] :
1. Has all the powers granted by NRS 81.500 that are not inconsistent with the provisions of this chapter and in addition thereto, the powers enumerated in NRS 678.470 to 678.500, inclusive [.] ; and
2. May exercise any authority and perform all acts that a federal credit union may exercise or perform, with the consent and written approval of the commissioner. The commissioner may, by regulation, waive or modify a requirement of Nevada law if the corresponding requirement for federal credit unions has been or is eliminated or modified.”.
Amend the title of the bill by deleting the fifth through fourteenth lines and inserting:
“change of address of its licensed place of business; including check-cashing and deferred deposit services in the definition of “financial institution” for purposes of the investigative account for financial institutions; requiring the commissioner of financial institutions to charge a fee for certain services; changing the procedures for a lending business to notify the commissioner of financial institutions of a change of address of its licensed place of business; authorizing the commissioner of financial institutions to impose a fine on a mortgage company or lending business for failing to notify the commissioner of a proposed change of address; removing the requirement that the commissioner of financial institutions notify lending businesses of his receipt of an application for licensure of a lending business; authorizing a credit union to exercise authority and perform acts that a federal credit union may exercise or perform under certain circumstances; providing a penalty; and providing other matters properly relating thereto.”.