Assembly
Bill No. 493–Committee on
Commerce and Labor
(On
Behalf of the Department of Business and
Industry, Financial Institutions Division)
March 24, 2003
____________
Referred to Committee on Commerce and Labor
SUMMARY—Provides for money collected by Commissioner of Financial Institutions and Division of Financial Institutions of Department of Business and Industry to be deposited in State Treasury and to be accounted for separately in State General Fund. (BDR 55‑463)
FISCAL NOTE: Effect on Local Government: No.
Effect on the State: No.
~
EXPLANATION
– Matter in bolded italics is new; matter
between brackets [omitted material] is material to be omitted.
Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
1-1 Section 1. Chapter 658 of NRS is hereby amended by adding
1-2 thereto the provisions set forth as sections 2 and 3 of this act.
1-3 Sec. 2. 1. Except as otherwise provided by law, any money
1-4 appropriated to the Commissioner or the Division and any money
1-5 collected by the Commissioner or Division pursuant to law:
1-6 (a) Must be deposited in the State Treasury and accounted for
1-7 separately in the State General Fund; and
1-8 (b) May only be used to:
1-9 (1) Carry out the programs and laws administered by the
1-10 Commissioner and the Division; and
1-11 (2) Pay the expenses related to the operations of the
1-12 Commissioner and the Division.
1-13 2. Except as otherwise provided by law, any money that
1-14 remains in the account at the end of the fiscal year, does not revert
1-15 to the State General Fund, and the balance of the account must be
1-16 carried forward to the next fiscal year.
1-17 3. The Commissioner shall administer the account. Any
1-18 interest or income earned on the money in the account must be
1-19 credited to the account, after deducting any applicable charges.
1-20 Any claims against the account must be paid as other claims
1-21 against the State are paid.
1-22 Sec. 3. 1. On a quarterly or other regular basis, the
1-23 Commissioner shall collect an assessment pursuant to this section
1-24 from each:
1-25 (a) Check-cashing service or deferred deposit service that is
1-26 supervised pursuant to chapter 604 of NRS;
1-27 (b) Escrow agent that is supervised pursuant to chapter 645A
1-28 of NRS;
1-29 (c) Mortgage broker that is supervised pursuant to chapter
1-30 645B of NRS;
1-31 (d) Mortgage company that is supervised pursuant to chapter
1-32 645E of NRS;
1-33 (e) Collection agency that is supervised pursuant to chapter
1-34 649 of NRS;
1-35 (f) Bank that is supervised pursuant to chapters 657 to 668,
1-36 inclusive, of NRS;
1-37 (g) Trust company that is supervised pursuant to chapter 669
1-38 of NRS;
1-39 (h) Development corporation that is supervised pursuant to
1-40 chapter 670 of NRS;
1-41 (i) Corporation for economic revitalization and diversification
1-42 that is supervised pursuant to chapter 670A of NRS;
2-1 (j) Person engaged in the business of selling or issuing checks
2-2 or of receiving for transmission or transmitting money or credits
2-3 that is supervised pursuant to chapter 671 of NRS;
2-4 (k) Savings and loan association that is supervised pursuant to
2-5 chapter 673 of NRS;
2-6 (l) Person engaged in the business of lending that is supervised
2-7 pursuant to chapter 675 of NRS;
2-8 (m) Person engaged in the business of debt adjusting that is
2-9 supervised pursuant to chapter 676 of NRS;
2-10 (n) Thrift company that is supervised pursuant to chapter 677
2-11 of NRS; and
2-12 (o) Credit union that is supervised pursuant to chapter 678 of
2-13 NRS.
2-14 2. The Commissioner shall determine the total amount of all
2-15 assessments to be collected from the entities identified in
2-16 subsection 1, but that amount must not exceed the amount
2-17 necessary to recover the cost of legal services provided by the
2-18 Attorney General to the Commissioner and to the Division. The
2-19 total amount of all assessments collected must be reduced by any
2-20 amounts collected by the Commissioner from an entity for the
2-21 recovery of the costs of legal services provided by the Attorney
2-22 General in a specific case.
2-23 3. The Commissioner shall collect from each entity identified
2-24 in subsection 1 an assessment that is based on:
2-25 (a) A portion of the total amount of all assessments as
2-26 determined pursuant to subsection 2, such that the assessment
2-27 collected from an entity identified in subsection 1 shall bear the
2-28 same relation to the total amount of all assessments as the total
2-29 assets of that entity bear to the total of all assets of all entities
2-30 identified in subsection 1; or
2-31 (b) Any other reasonable basis adopted by the Commissioner.
2-32 4. The assessment required by this section is in addition to
2-33 any other assessment, fee or cost required by law to be paid by an
2-34 entity identified in subsection 1.
2-35 5. Money collected by the Commissioner pursuant to this
2-36 section must be deposited in the State Treasury pursuant to the
2-37 provisions of section 2 of this act.
2-38 Sec. 4. (Deleted by amendment.)
2-39 Sec. 5. NRS 658.096 is hereby amended to read as follows:
2-40 658.096 1. The Commissioner shall charge and collect the
2-41 following fees in connection with his official duties:
2-42 (a) For licensing of state banks:
2-43 (1) A fee of $200 for each parent bank, payable on June 30
2-44 of each year.
3-1 (2) A fee of $100 for each branch bank or trust office,
3-2 payable on June 30 of each year.
3-3 The fees must accompany the application for renewal of the license.
3-4 A penalty of 10 percent of the fee must be charged for each month
3-5 or part of a month that the fees are not paid after June 30 of each
3-6 year.
3-7 (b) For applications for new branch banks or trust offices, a
3-8 nonrefundable fee of $200 for the application and survey, to be paid
3-9 by the applicant at the time of making the application. The applicant
3-10 must also pay such additional expenses incurred in the process of
3-11 investigation as the Commissioner deems necessary. All money
3-12 received by the Commissioner pursuant to this paragraph must be
3-13 placed in the Investigative Account created by NRS 232.545.
3-14 (c) For examinations and the examination of trust departments
3-15 of state banks or trust offices, a fee for conducting the examination
3-16 and for preparing and typing the report of the examination at the rate
3-17 established pursuant to NRS 658.101.
3-18 2. Except as otherwise provided in paragraph (b) of subsection
3-19 1, all money collected pursuant to this section must be [paid into]
3-20 deposited in the State [General Fund.] Treasury pursuant to the
3-21 provisions of section 2 of this act.
3-22 3. As used in this section, “trust office” has the meaning
3-23 ascribed to it in subsection 4 of NRS 662.239.
3-24 Sec. 6. NRS 658.145 is hereby amended to read as follows:
3-25 658.145 1. The Commissioner may offer, under such
3-26 conditions as he may deem proper, rewards not to exceed the sum of
3-27 $500 in any one case for the arrest and conviction of any officer,
3-28 director, agent or employee of any bank charged with violating any
3-29 of the laws of this state relating to banks and banking for which a
3-30 criminal penalty is provided, or for the arrest and conviction of any
3-31 person charged with stealing, with or without force, any money,
3-32 property or thing of value of any bank.
3-33 2. The [State Treasurer] Commissioner shall pay out of the
3-34 money deposited to the State [General Fund] Treasury pursuant to
3-35 the provisions of section 2 of this act all such rewards . [when they
3-36 are approved by the State Board of Examiners in the usual manner
3-37 for allowing other claims against the State.]
3-38 Sec. 7. NRS 669.190 is hereby amended to read as follows:
3-39 669.190 1. The initial fee to be paid for a trust company
3-40 license must be in proportion to the initial stockholders’ equity of
3-41 the trust company as follows:
3-42 (a) A trust company with an initial stockholders’ equity of not
3-43 less than $300,000 but not more than $500,000 must pay a license
3-44 fee of $500.
4-1 (b) A trust company with an initial stockholders’ equity of more
4-2 than $500,000 but not more than $1,000,000 must pay a license fee
4-3 of $750.
4-4 (c) A trust company with an initial stockholders’ equity of more
4-5 than $1,000,000 must pay a license fee of $1,000.
4-6 2. In addition, every trust company must pay an initial license
4-7 fee of $100 for each branch office that is authorized by the
4-8 Commissioner.
4-9 3. Thereafter, every trust company must pay annually on or
4-10 before April 1 of each year a license fee which must be in
4-11 proportion to its existing stockholders’ equity as follows:
4-12 (a) A trust company with an existing stockholders’ equity of not
4-13 less than $300,000 but not more than $500,000 must pay a license
4-14 fee of $500.
4-15 (b) A trust company with an existing stockholders’ equity of
4-16 more than $500,000 but not more than $1,000,000 must pay a
4-17 license fee of $750.
4-18 (c) A trust company with an existing stockholders’ equity of
4-19 more than $1,000,000 must pay a license fee of $1,000.
4-20 4. All money collected under the provisions of this section
4-21 must be [paid into] deposited in the State [General Fund and the
4-22 State Treasurer shall issue a receipt therefor.] Treasury pursuant to
4-23 the provisions of section 2 of this act.
4-24 Sec. 8. NRS 669.250 is hereby amended to read as follows:
4-25 669.250 1. For each examination of a trust company’s books
4-26 and records required or authorized under this chapter, the
4-27 Commissioner shall charge and collect from the trust company a fee
4-28 for conducting the examination and in preparing and typing the
4-29 report of the examination at the rate established pursuant to
4-30 NRS 658.101.
4-31 2. All money collected under this section must be [paid into]
4-32 deposited in the State [General Fund.] Treasury pursuant to the
4-33 provisions of section 2 of this act.
4-34 3. The Commissioner shall examine a licensee as often as he
4-35 deems necessary.
4-36 Sec. 9. NRS 670.310 is hereby amended to read as follows:
4-37 670.310 Except as otherwise provided in NRS 670.115, all
4-38 money collected pursuant to the provisions of this chapter must be
4-39 [paid into] deposited in the State [General Fund] Treasury pursuant
4-40 to the provisions of section 2 of this act.
4-41 Sec. 10. NRS 671.070 is hereby amended to read as follows:
4-42 671.070 1. A license issued pursuant to this chapter expires
4-43 on June 30 of the year following its issuance and thereafter expires
4-44 on June 30 of each year, unless it is earlier surrendered, suspended
4-45 or revoked.
5-1 2. The license may be renewed from year to year upon the
5-2 approval of the Commissioner if the licensee files an application
5-3 conforming to the requirements for an initial application at least 60
5-4 days before the expiration of his current license.
5-5 3. An application for the renewal of the license must be
5-6 accompanied by a fee of $200. No investigation fee may be charged
5-7 for the renewal of the license. If the application or fee for renewal is
5-8 not filed within the required time, the Commissioner may renew the
5-9 expired license upon receipt of the application and fee for renewal,
5-10 and a fee of $200 for late renewal.
5-11 4. All fees collected pursuant to this section must be deposited
5-12 in the State Treasury [for credit to the State General Fund.]
5-13 pursuant to the provisions of section 2 of this act.
5-14 Sec. 11. (Deleted by amendment.)
5-15 Sec. 12. NRS 645A.040 is hereby amended to read as follows:
5-16 645A.040 1. Every license issued pursuant to the provisions
5-17 of this chapter expires on July 1 of each year if it is not renewed. A
5-18 license may be renewed by filing an application for renewal and
5-19 paying the annual fee for the succeeding year.
5-20 2. The fees for the issuance or renewal of a license for an
5-21 escrow agency are:
5-22 (a) For filing an application for an initial license, $500 for the
5-23 principal office and $100 for each branch office. All money received
5-24 by the Commissioner pursuant to this paragraph must be placed in
5-25 the Investigative Account created by NRS 232.545.
5-26 (b) If the license is approved for issuance, $200 for the principal
5-27 office and $100 for each branch office. The fee must be paid before
5-28 issuance of the license.
5-29 (c) For filing an application for renewal, $200 for the principal
5-30 office and $100 for each branch office.
5-31 3. The fees for the issuance or renewal of a license for an
5-32 escrow agent are:
5-33 (a) For filing an application for an initial license or for the
5-34 renewal of a license, $100.
5-35 (b) If a license is approved for issuance or renewal, $25. The fee
5-36 must be paid before the issuance or renewal of the license.
5-37 4. If a licensee fails to pay the fee for the annual renewal of his
5-38 license before its expiration, his license may be renewed only upon
5-39 the payment of a fee 1 1/2 times the amount otherwise required for
5-40 renewal. A license may be renewed pursuant to this subsection only
5-41 if all the fees are paid within 1 year after the date on which the
5-42 license expired.
5-43 5. In addition to the other fees set forth in this section, each
5-44 applicant or licensee shall pay:
6-1 (a) For filing an application for a duplicate copy of any license,
6-2 upon satisfactory showing of its loss, $10.
6-3 (b) For filing any change of information contained in the
6-4 application, $10.
6-5 (c) For each change of association with an escrow agency, $25.
6-6 6. Except as otherwise provided in this chapter, all fees
6-7 received pursuant to this chapter must be deposited in the State
6-8 Treasury [for credit to the State General Fund.] pursuant to the
6-9 provisions of section 2 of this act.
6-10 Sec. 13. NRS 645B.050 is hereby amended to read as follows:
6-11 645B.050 1. A license issued pursuant to this chapter expires
6-12 each year on June 30, unless it is renewed. To renew a license, the
6-13 licensee must submit to the Commissioner on or before June 30 of
6-14 each year:
6-15 (a) An application for renewal;
6-16 (b) The fee required to renew the license pursuant to this
6-17 section; and
6-18 (c) The information required pursuant to NRS 645B.051.
6-19 2. If the licensee fails to submit any item required pursuant to
6-20 subsection 1 to the Commissioner on or before June 30 of any year,
6-21 the license is cancelled. The Commissioner may reinstate a
6-22 cancelled license if the licensee submits to the Commissioner:
6-23 (a) An application for renewal;
6-24 (b) The fee required to renew the license pursuant to this
6-25 section;
6-26 (c) The information required pursuant to NRS 645B.051; and
6-27 (d) Except as otherwise provided in this section, a reinstatement
6-28 fee of $200.
6-29 3. Except as otherwise provided in NRS 645B.016, a certificate
6-30 of exemption issued pursuant to this chapter expires each year on
6-31 December 31, unless it is renewed. To renew a certificate of
6-32 exemption, a person must submit to the Commissioner on or before
6-33 December 31 of each year:
6-34 (a) An application for renewal that includes satisfactory proof
6-35 that the person meets the requirements for an exemption from the
6-36 provisions of this chapter; and
6-37 (b) The fee required to renew the certificate of exemption.
6-38 4. If the person fails to submit any item required pursuant to
6-39 subsection 3 to the Commissioner on or before December 31 of any
6-40 year, the certificate of exemption is cancelled. Except as otherwise
6-41 provided in NRS 645B.016, the Commissioner may reinstate a
6-42 cancelled certificate of exemption if the person submits to the
6-43 Commissioner:
7-1 (a) An application for renewal that includes satisfactory proof
7-2 that the person meets the requirements for an exemption from the
7-3 provisions of this chapter;
7-4 (b) The fee required to renew the certificate of exemption; and
7-5 (c) Except as otherwise provided in this section, a reinstatement
7-6 fee of $100.
7-7 5. Except as otherwise provided in this section, a person must
7-8 pay the following fees to apply for, to be issued or to renew a
7-9 license as a mortgage broker pursuant to this chapter:
7-10 (a) To file an original application for a license, $1,500 for the
7-11 principal office and $40 for each branch office. The person must
7-12 also pay such additional expenses incurred in the process of
7-13 investigation as the Commissioner deems necessary. All money
7-14 received by the Commissioner pursuant to this paragraph must be
7-15 placed in the Investigative Account created by NRS 232.545.
7-16 (b) To be issued a license, $1,000 for the principal office and
7-17 $60 for each branch office.
7-18 (c) To renew a license, $500 for the principal office and $100
7-19 for each branch office.
7-20 6. Except as otherwise provided in this section, a person must
7-21 pay the following fees to apply for or to renew a certificate of
7-22 exemption pursuant to this chapter:
7-23 (a) To file an application for a certificate of exemption, $200.
7-24 (b) To renew a certificate of exemption, $100.
7-25 7. To be issued a duplicate copy of any license or certificate of
7-26 exemption, a person must make a satisfactory showing of its loss
7-27 and pay a fee of $10.
7-28 8. Except as otherwise provided in this chapter, all fees
7-29 received pursuant to this chapter must be deposited in the State
7-30 Treasury [for credit to the State General Fund.] pursuant to the
7-31 provisions of section 2 of this act.
7-32 9. The Commissioner may, by regulation, increase any fee set
7-33 forth in this section if the Commissioner determines that such an
7-34 increase is necessary for the Commissioner to carry out his duties
7-35 pursuant to this chapter. The amount of any increase in a fee
7-36 pursuant to this subsection must not exceed the amount determined
7-37 to be necessary for the Commissioner to carry out his duties
7-38 pursuant to this chapter.
7-39 Sec. 14. NRS 645E.280 is hereby amended to read as follows:
7-40 645E.280 1. A license issued to a mortgage company
7-41 pursuant to this chapter expires each year on December 31, unless it
7-42 is renewed. To renew a license, the licensee must submit to the
7-43 Commissioner on or before December 31 of each year:
7-44 (a) An application for renewal that complies with the
7-45 requirements of this chapter; and
8-1 (b) The fee required to renew the license pursuant to this
8-2 section.
8-3 2. If the licensee fails to submit any item required pursuant to
8-4 subsection 1 to the Commissioner on or before December 31 of any
8-5 year, the license is cancelled. The Commissioner may reinstate a
8-6 cancelled license if the licensee submits to the Commissioner:
8-7 (a) An application for renewal that complies with the
8-8 requirements of this chapter;
8-9 (b) The fee required to renew the license pursuant to this
8-10 section; and
8-11 (c) A reinstatement fee of $200.
8-12 3. Except as otherwise provided in NRS 645E.160, a certificate
8-13 of exemption issued pursuant to this chapter expires each year on
8-14 December 31, unless it is renewed. To renew a certificate of
8-15 exemption, a person must submit to the Commissioner on or before
8-16 December 31 of each year:
8-17 (a) An application for renewal that complies with the
8-18 requirements of this chapter; and
8-19 (b) The fee required to renew the certificate of exemption.
8-20 4. If the person fails to submit any item required pursuant to
8-21 subsection 3 to the Commissioner on or before December 31 of any
8-22 year, the certificate of exemption is cancelled. Except as otherwise
8-23 provided in NRS 645E.160, the Commissioner may reinstate a
8-24 cancelled certificate of exemption if the person submits to the
8-25 Commissioner:
8-26 (a) An application for renewal that complies with the
8-27 requirements of this chapter;
8-28 (b) The fee required to renew the certificate of exemption; and
8-29 (c) A reinstatement fee of $100.
8-30 5. A person must pay the following fees to apply for, to be
8-31 issued or to renew a license as a mortgage company pursuant to this
8-32 chapter:
8-33 (a) To file an original application for a license, $1,500 for the
8-34 principal office and $40 for each branch office. The person must
8-35 also pay such additional expenses incurred in the process of
8-36 investigation as the Commissioner deems necessary. All money
8-37 received by the Commissioner pursuant to this paragraph must be
8-38 placed in the Investigative Account created by NRS 232.545.
8-39 (b) To be issued a license, $1,000 for the principal office and
8-40 $60 for each branch office.
8-41 (c) To renew a license, $500 for the principal office and $100
8-42 for each branch office.
8-43 6. A person must pay the following fees to apply for or to
8-44 renew a certificate of exemption pursuant to this chapter:
8-45 (a) To file an application for a certificate of exemption, $200.
9-1 (b) To renew a certificate of exemption, $100.
9-2 7. To be issued a duplicate copy of any license or certificate of
9-3 exemption, a person must make a satisfactory showing of its loss
9-4 and pay a fee of $10.
9-5 8. Except as otherwise provided in this chapter, all fees
9-6 received pursuant to this chapter must be deposited in the State
9-7 Treasury [for credit to the State General Fund.] pursuant to the
9-8 provisions of section 2 of this act.
9-9 Sec. 15. NRS 649.295 is hereby amended to read as follows:
9-10 649.295 1. A nonrefundable fee of $250 for the application
9-11 and survey must accompany each new application for a license as a
9-12 collection agency. The applicant shall also pay such additional
9-13 expenses incurred in the process of investigation as the
9-14 Commissioner deems necessary. All money received by the
9-15 Commissioner pursuant to this subsection must be placed in
9-16 the Investigative Account created by NRS 232.545.
9-17 2. A fee of not less than $100 nor more than $300, prorated on
9-18 the basis of the licensing year as provided by the Commissioner,
9-19 must be charged for each original license issued. A fee of $200 must
9-20 be charged for each annual renewal of a license.
9-21 3. A fee of $10 must be charged for each duplicate license or
9-22 license for a transfer of location issued.
9-23 4. A nonrefundable investigation fee of $75 must accompany
9-24 each application for a manager’s certificate unless the applicant is
9-25 the holder of or an applicant for a license as a collection agency.
9-26 5. A fee of $20 must be charged for each manager’s certificate
9-27 issued and for each annual renewal of such a certificate.
9-28 6. A fee of $30 must be charged for the reinstatement of a
9-29 manager’s certificate.
9-30 7. A fee of $5 must be charged for each day an application for
9-31 the renewal of a license or certificate, or a required report, is filed
9-32 late, unless the fee or portion thereof is excused by the
9-33 Commissioner for good cause shown.
9-34 8. A nonrefundable fee of $125 for the application and an
9-35 examination must accompany each application for a permit to
9-36 operate a branch office of a licensed collection agency. A fee of
9-37 $100 must be charged for each annual renewal of such a permit.
9-38 9. For each examination the Commissioner shall charge and
9-39 collect from the licensee a fee for conducting the examination and
9-40 preparing and typing the report of the examination at the rate
9-41 established pursuant to NRS 658.101. Failure to pay the fee within
9-42 30 days after receipt of the bill is a ground for revoking the
9-43 collection agency’s license.
9-44 10. Except as otherwise provided in subsection 1, all money
9-45 received by the Commissioner pursuant to this chapter must be
10-1 deposited in the State Treasury [for credit to the State General
10-2 Fund.] pursuant to the provisions of section 2 of this act.
10-3 Sec. 16. NRS 673.060 is hereby amended to read as follows:
10-4 673.060 Except as otherwise provided in NRS 673.080,
10-5 673.112 and 673.595:
10-6 1. All fees, charges for expenses, assessments and other money
10-7 collected under the provisions of this chapter from foreign and
10-8 domestic associations, companies and corporations governed by this
10-9 chapter must be [paid into the State General Fund.] deposited in the
10-10 State Treasury pursuant to the provisions of section 2 of this act.
10-11 2. The compensation provided for by this chapter and all
10-12 expenses incurred under this chapter must be paid from the money
10-13 deposited in the State [General Fund.] Treasury pursuant to the
10-14 provisions of section 2 of this act.
10-15 Sec. 17. NRS 673.260 is hereby amended to read as follows:
10-16 673.260 1. The license mentioned in NRS 673.250 authorizes
10-17 the company, association or corporation to whom it is issued to sell
10-18 its approved securities and contracts within this state for the
10-19 remainder of the fiscal year ending on June 30 next succeeding.
10-20 Each license is renewable, under like restrictions, annually
10-21 thereafter.
10-22 2. For the issuing of any license provided for in NRS 673.250
10-23 and for any renewal thereof, the fee of the Commissioner is:
10-24 (a) For each home office, $200.
10-25 (b) For each branch office, $100.
10-26 3. The fees must accompany the license renewal application. A
10-27 penalty of 10 percent of the fee payable must be charged for each
10-28 month or part thereof that the fees are not paid after June 30 of each
10-29 year.
10-30 4. All sums so received by the Commissioner must be
10-31 [forthwith delivered to the State Treasurer and must be paid into]
10-32 deposited in the State [General Fund.] Treasury pursuant to the
10-33 provisions of section 2 of this act.
10-34 Sec. 18. NRS 673.270 is hereby amended to read as follows:
10-35 673.270 1. No person may, as a soliciting agent, soliciting
10-36 representative or employee of any foreign or domestic company,
10-37 association or corporation, or in any other capacity, sell or solicit
10-38 sales for any securities such as investment certificates or savings
10-39 accounts or contract for the sale of securities until he is first licensed
10-40 as a salesman or solicitor for sales of those securities by the
10-41 Commissioner.
10-42 2. No person may be licensed for a period of more than 1 year,
10-43 and he may not be licensed until he has first satisfied the
10-44 Commissioner as to his personal integrity.
11-1 3. For the issuing of any license provided for in this section
11-2 and for any renewal thereof, the fee of the Commissioner is $5. All
11-3 sums so received by the Commissioner must be [delivered to the
11-4 State Treasurer and must be paid into] deposited in the State
11-5 [General Fund.] Treasury pursuant to the provisions of section 2 of
11-6 this act.
11-7 4. Tellers or other employees of an insured savings and loan
11-8 association are exempt from the licensing requirements unless their
11-9 employment entails soliciting sales outside their respective offices
11-10 as commission salesmen.
11-11 Sec. 19. NRS 673.318 is hereby amended to read as follows:
11-12 673.318 Every association shall appraise each parcel of real
11-13 estate at the time of acquisition thereof. The report of each appraisal
11-14 must be submitted in writing to the board of directors and must be
11-15 kept in the records of the association. The Commissioner may
11-16 require the appraisal of real estate securing loans by an appraiser
11-17 selected by the Commissioner. The association whose securities are
11-18 appraised under this section shall pay the expense of the appraisal to
11-19 the Commissioner upon demand. Money so received must be [paid
11-20 into] deposited in the State [General Fund.] Treasury pursuant to
11-21 the provisions of section 2 of this act. Copies of appraisals must be
11-22 furnished to the association.
11-23 Sec. 20. NRS 673.430 is hereby amended to read as follows:
11-24 673.430 1. Each association doing business in this state shall
11-25 file annually with the Commissioner on or before March 1, a sworn
11-26 statement in two sections.
11-27 2. One section of the annual report must contain, in such form
11-28 and detail as the Commissioner may prescribe, the following:
11-29 (a) The amount of authorized capital by classes and the par
11-30 value of each class of stock.
11-31 (b) A statement of its assets, liabilities and capital accounts as of
11-32 the immediately preceding December 31.
11-33 (c) Any other facts which the Commissioner requires.
11-34 This section must be furnished in duplicate, one certified copy to be
11-35 returned for publication at least two times in a newspaper having a
11-36 general circulation in each county in which the association
11-37 maintains an office. Publication must be completed on or before
11-38 May 1, and proof of publication must be filed in the office of the
11-39 Commissioner.
11-40 3. One section of the annual report must contain such other
11-41 information as the Commissioner may require to be furnished. This
11-42 section need not be published and must be treated as confidential by
11-43 the Commissioner.
11-44 4. The Commissioner may impose and collect a penalty of $5
11-45 for each day the annual report is overdue, up to a maximum of $500.
12-1 Every association shall pay to the Commissioner for supervision and
12-2 examination a fee based on the rate established pursuant to
12-3 NRS 658.101.
12-4 5. All sums so received by the Commissioner must be
12-5 [delivered to the State Treasurer and paid into] deposited in the
12-6 State [General Fund.] Treasury pursuant to the provisions of
12-7 section 2 of this act.
12-8 Sec. 21. NRS 673.460 is hereby amended to read as follows:
12-9 673.460 1. Whenever in connection with an examination it is
12-10 necessary or expedient that the Commissioner or his deputy, or both,
12-11 leave this state, there must be assessed against the organization
12-12 under examination a fee of $25 per day for each person while
12-13 without the State in connection with an examination, together with
12-14 all actual and necessary expenses.
12-15 2. The fee charged must be remitted to the Commissioner, who
12-16 shall [deliver it to the State Treasurer. The fees shall be paid into]
12-17 deposit the fees in the State [General Fund.] Treasury pursuant to
12-18 the provisions of section 2 of this act.
12-19 Sec. 22. NRS 675.160 is hereby amended to read as follows:
12-20 675.160 Except as otherwise provided in NRS 675.100, all fees
12-21 and charges collected under the provisions of this chapter must be
12-22 [paid into] deposited in the State [General Fund, and the State
12-23 Treasurer shall issue his receipt therefor.] Treasury pursuant to the
12-24 provisions of section 2 of this act.
12-25 Sec. 23. NRS 675.400 is hereby amended to read as follows:
12-26 675.400 1. At least once each year, the Commissioner or his
12-27 authorized representatives shall make an examination of the place of
12-28 business of each licensee and of the loans, transactions, books,
12-29 papers and records of the licensee so far as they pertain to the
12-30 business licensed under this chapter.
12-31 2. For each examination the Commissioner shall charge and
12-32 collect from the licensee a fee for conducting the examination and
12-33 preparing and typing the report of the examination at the rate
12-34 established pursuant to NRS 658.101.
12-35 3. All money collected by the Commissioner pursuant to
12-36 subsection 2 must be deposited in the State [General Fund.]
12-37 Treasury pursuant to the provisions of section 2 of this act.
12-38 Sec. 24. NRS 676.170 is hereby amended to read as follows:
12-39 676.170 Except as otherwise provided in NRS 676.130, all fees
12-40 and charges collected under the provisions of this chapter must be
12-41 [paid into] deposited in the State [General Fund.] Treasury
12-42 pursuant to the provisions of section 2 of this act.
12-43 Sec. 25. NRS 677.390 is hereby amended to read as follows:
12-44 677.390 Except as otherwise provided in NRS 677.160, all fees
12-45 and charges collected under the provisions of this chapter must be
13-1 deposited in the State [General Fund.] Treasury pursuant to the
13-2 provisions of section 2 of this act.
13-3 Sec. 26. NRS 678.260 is hereby amended to read as follows:
13-4 678.260 The Commissioner shall:
13-5 1. Adopt a regulation establishing the minimum surety bond
13-6 required of credit unions in relation to the amount of property under
13-7 their control.
13-8 2. Adopt a regulation that sets forth the records a credit union
13-9 must keep and prescribes the period for which those records must be
13-10 retained.
13-11 3. Maintain the original application of every credit union in a
13-12 permanent file.
13-13 4. Maintain for at least 6 years, every report filed by a credit
13-14 union with the Division of Financial Institutions.
13-15 5. Except as otherwise provided in NRS 678.800 and 678.810,
13-16 deposit all fees, charges for expenses, assessments and other money
13-17 which is collected pursuant to the provisions of this chapter or any
13-18 regulation adopted [thereunder,] pursuant thereto in the State
13-19 Treasury [for credit to the State General Fund.] pursuant to the
13-20 provisions of section 2 of this act.
13-21 6. Prepare copies of articles of incorporation and bylaws
13-22 consistent with the provisions of this chapter which may be used by
13-23 persons interested in organizing a credit union.
13-24 Secs. 27 and 28. (Deleted by amendment.)
13-25 Sec. 29. 1. This act becomes effective upon passage and
13-26 approval for the purposes of performing any preparatory
13-27 administrative tasks and adopting any regulations necessary to carry
13-28 out the provisions of this act and on July 1, 2003, for all other
13-29 purposes.
13-30 2. Sections 12 and 13 of this act expire by limitation on the
13-31 date on which the provisions of 42 U.S.C. § 666 requiring each state
13-32 to establish procedures under which the state has authority to
13-33 withhold or suspend, or to restrict the use of professional,
13-34 occupational and recreational licenses of persons who:
13-35 (a) Have failed to comply with a subpoena or warrant relating to
13-36 a procedure to determine the paternity of a child or to establish or
13-37 enforce an obligation for the support of a child; or
13-38 (b) Are in arrears in the payment for the support of one or more
13-39 children,
13-40 are repealed by the Congress of the United States.
13-41 H