NRS 688C.190 License to operate as investment agent or provider or broker of viatical settlements: Required application; renewal; expiration; fees; information regarding certain persons; effect; exception.

228 words·~1 min read·/nv/chapter-688c-viatical-settlements/688c-190

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

1. Except as otherwise provided in NRS 688C.215 , a person shall not, without first obtaining a license from the Commissioner, operate in or from this State as an investment agent or a provider or broker of viatical settlements.

2. Application for a license must be made to the Commissioner on a form prescribed by the Commissioner, accompanied by all applicable fees. A license may be renewed from year to year on its anniversary by payment of all applicable fees. The license expires if all applicable fees are not paid by that date.

3. An applicant shall provide information on forms required by the Commissioner, who may at any time require the applicant to disclose the identity of all stockholders, partners, members, officers and employees. The Commissioner may refuse to issue a license to an organization if the Commissioner is not satisfied that a stockholder, partner, member or officer who may materially influence the applicant’s conduct satisfies the requirements of this chapter.

4. A license issued to an organization authorizes all partners, members, officers and designated employees to act as investment agents or providers or brokers of viatical settlements. Those persons must be named in the application or a supplement to it.