232.545 - Investigative Account for Financial Institutions. - Nevada Statutes

232.545  Investigative Account for Financial Institutions.

      1.  An Investigative Account for Financial Institutions is hereby created in the State General Fund. The Account consists of money which is:

      (a) Received by the Department of Business and Industry in connection with the licensing of financial institutions and the investigation of persons associated with those institutions; and

      (b) Required by law to be placed therein.

      2.  The Director of the Department of Business and Industry or the Director’s designee may authorize expenditures from the Investigative Account to pay the expenses incurred:

      (a) In investigating applications for licensing of financial institutions and in investigating persons associated with those institutions;

      (b) In conducting special investigations relating to financial institutions and persons associated with those institutions; and

      (c) In connection with mergers, consolidations, conversions, receiverships and liquidations of financial institutions.

      3.  As used in this section, “financial institution” means an institution for which licensing or registration is required by the provisions of titles 55 and 56 and chapters 604A and 649 of NRS.

      (Added to NRS by 1983, 1315; A 1991, 1757; 1993, 1487; 1999, 3808; 2001, 2047; 2003, 3577; 2005, 1710)