NRS 658.098 Assessment for cost of legal services provided to Commissioner and Division of Financial Institutions; deposit of money in State Treasury.

442 words·~2 min read·/nv/chapter-658-supervision-and-control/658-098

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

1. On a quarterly or other regular basis, the Commissioner shall collect an assessment pursuant to this section from each:

(a)Check-cashing service or deferred deposit loan service that is supervised pursuant to chapter 604A of NRS;

(b)Collection agency that is supervised pursuant to chapter 649 of NRS;

(c)Bank that is supervised pursuant to chapters 657 to 668 , inclusive, of NRS;

(d)Trust company or family trust company that is supervised pursuant to chapter 669 or 669A of NRS;

(e)Person engaged in the business of money transmission that is supervised pursuant to chapter 671 of NRS;

(f)Savings and loan association or savings bank that is supervised pursuant to chapter 673 of NRS;

(g)Person engaged in the business of lending that is supervised pursuant to chapter 675 of NRS;

(h)Thrift company that is supervised pursuant to chapter 677 of NRS;

(i)Credit union that is supervised pursuant to chapter 672 of NRS;

(j)Consumer litigation funding company that is supervised pursuant to chapter 604C of NRS; and

(k)Student loan servicer that is supervised pursuant to chapter 670B of NRS.

2. The Commissioner shall determine the total amount of all assessments to be collected from the entities identified in subsection 1, but that amount must not exceed the amount necessary to recover the cost of legal services provided by the Attorney General to the Commissioner and to the Division of Financial Institutions. The total amount of all assessments collected must be reduced by any amounts collected by the Commissioner from an entity for the recovery of the costs of legal services provided by the Attorney General in a specific case.

3. The Commissioner shall collect from each entity identified in subsection 1 an assessment that is based on:

(a)A portion of the total amount of all assessments as determined pursuant to subsection 2, such that the assessment collected from an entity identified in subsection 1 shall bear the same relation to the total amount of all assessments as the total assets of that entity bear to the total of all assets of all entities identified in subsection 1; or

(b)Any other reasonable basis adopted by the Commissioner.

4. The assessment required by this section is in addition to any other assessment, fee or cost required by law to be paid by an entity identified in subsection 1.

5. Money collected by the Commissioner pursuant to this section must be deposited in the State Treasury pursuant to the provisions of NRS 658.091 .