NRS 645E.170 - Exemptions for certain loans: Grounds for granting; revocation; issuance of statement by Commissioner of reasons for granting, denying or revoking. [Effective through December 31, 2019.]

NV Rev Stat § 645E.170 (2019) (N/A)

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1. A person may apply to the Commissioner for an exemption from the provisions of this chapter governing the making of a loan of money only for a loan secured by commercial property.

2. The Commissioner may grant the exemption if the Commissioner finds that:

(a) The making of the loan would not be detrimental to the financial condition of the lender or the debtor;

(b) The lender or the debtor has established a record of sound performance, efficient management, financial responsibility and integrity;

(d) The making of the loan is not detrimental to the public interest.

3. The Commissioner:

(a) May revoke an exemption unless the loan for which the exemption was granted has been made; and

(b) Shall issue a written statement setting forth the reasons for his or her decision to grant, deny or revoke an exemption.

(Added to NRS by 1999, 3747; A 2011, 3627; R 2017, 3106, effective January 1, 2020)

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NRS 645E.165 - Certificate of exemption: Annual expiration; procedure for renewal; cancellation and reinstatement; fees; duplicate copy; deposit of fees; regulations. [Effective through December 31, 2019.]

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