2020 Nevada Revised Statutes
Chapter 657A - Regulatory Experimentation Program for Product Innovation
NRS 657A.320 - Request for relief from certain limitations; approval, denial, rescission or modification of request. [Effective January 1, 2020.]
1. At any time during the period of testing a financial product or service, a participant may submit to the Director a written request for relief from the limitations of subsection 2 of NRS 657A.300 or subsection 1 of NRS 657A.310, or both, as they otherwise apply to the participant.
2. In accordance with any regulations adopted pursuant to NRS 657A.210, the Director may:
(a) Approve a request for relief if the Director determines that the participant has adequate capitalization and satisfactory procedures and processes in place for the oversight of its operations and the management of risk.
(b) Rescind or modify at any time his or her approval of a request for relief.
3. The approval, denial, rescission or modification of approval of a request for relief is final and not subject to administrative or judicial review.
(Added to NRS by 2019, 3989, effective January 1, 2020)
