NRS 657.180 License to operate or manage: Additional requirements; fingerprints; grounds for refusal to issue license.

368 words·~2 min read·/nv/chapter-657-general-provisions/657-180

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. In addition to any other requirements set forth by specific statute, each person who applies for a license to operate a financial institution and each person who will serve as a director, officer, manager or member acting in a managerial capacity for such a financial institution must submit:

(a)Proof satisfactory to the Commissioner that the person:

(1)Has a good reputation for honesty, trustworthiness and integrity and is competent to transact the business of the financial institution in a manner which protects the interests of the general public.

(2)Has not made a false statement of material fact on the application.

(3)Has not committed any of the acts specified in subsection 2.

(4)Has not had a license to operate a financial institution suspended or revoked within the 10 years immediately preceding the date of the application.

(5)Has not been convicted of, or entered a plea of nolo contendere to, a felony or any crime involving fraud, misrepresentation or moral turpitude.

(b)A complete set of his or her fingerprints and written permission authorizing the Division of Financial Institutions to forward the fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report.

2. In addition to any other lawful reasons, the Commissioner may refuse to issue a license to operate a financial institution if the person who applies for the license or any person who will serve as a director, officer, manager or member acting in a managerial capacity for the financial institution:

(a)Has committed or participated in any act which, if committed or done by a holder of a license, would be grounds for the suspension or revocation of the license.

(b)Has previously been refused a license to operate a financial institution or has had such a license suspended or revoked.

(c)Has participated in any act which was a basis for the refusal or revocation of a license to operate a financial institution.

(d)Has falsified any of the information submitted to the Commissioner in support of the application for the license.