2019 Nevada Revised Statutes
Chapter 645E - Mortgage Bankers
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.]
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;
(c) The making of the loan is likely to increase the availability of capital for a sector of the state economy; and
(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)
