2017 Nevada Revised Statutes
Chapter 645G - Exchange Facilitators
NRS 645G.515 - Authorized disciplinary action; grounds; orders imposing discipline deemed public records; payment of costs incurred by Division.

1. The Commissioner may require a licensee to pay an administrative fine of not more than $200 per day for each violation the licensee commits or may suspend, revoke, deny the renewal of or place conditions upon the license, or impose any combination of those actions, at any time if:

(a) The licensee, by false or fraudulent representation, obtained a license.

(b) The licensee, whether or not acting as such, is found guilty of:

(1) Making any material misrepresentation.

(2) Making any false promises of a character likely to influence, persuade or induce.

(c) The licensee has failed, within a reasonable time, to account for or to remit any money which comes into his or her possession or under his or her control and which belongs to others.

(d) The licensee has engaged in any fraudulent act.

(e) The licensee, or an owner, officer, director or employee of a licensee, is found guilty of any crime involving fraud, misrepresentation, deceit, embezzlement, misappropriation of money, robbery or theft.

(f) The licensee has failed to fulfill a contractual duty to deliver property or money, unless the failure to deliver such property or money is beyond the control of the licensee.

(g) A receiver or conservator is appointed to take control of the assets of a licensee.

(h) The licensee is dissolved.

(i) The licensee is bankrupt.

(j) The licensee fails to maintain, for review and audit by the Division, each agreement governed by the provisions of this chapter and entered into by the licensee.

(k) The licensee violates any provision of this chapter or any regulations adopted pursuant thereto.

2. An order that imposes discipline and the findings of fact and conclusions of law supporting that order are public records.

3. In addition to any action set forth in subsection 1, the Division may, if it determines that an applicant for a license or a licensee has committed any of the acts set forth in subsection 1, after notice and a hearing required by law, require the applicant or licensee to pay the costs incurred by the Division to conduct any related investigation or hearing.

(Added to NRS by 2007, 3109)