2022 Nevada Revised Statutes
Chapter 645G - Exchange Facilitators
NRS 645G.200 - Reciprocal license: Person licensed in another jurisdiction. [Effective until the date on which the Commissioner of Financial Institutions notifies the Governor and the Director of the Legislative Counsel Bureau that the Nationwide Multistate Licensing System and Registry has sufficient capabilities to allow the Commissioner to carry out the provisions of chapter 347, Statutes of Nevada 2021, at page 2030.] Reciprocal license: Person licensed in another jurisdiction. [Effective on the date on which the Commissioner of Financial Institutions notifies the Governor and the Director of the Legislative Counsel Bureau that the Nationwide Multistate Licensing System and Registry has sufficient capabilities to allow the Commissioner to carry out the provisions of chapter 347, Statutes of Nevada 2021, at page 2030.]
1. A person who is licensed as an exchange facilitator in another state or territory of the United States and is not otherwise required to be licensed pursuant to the provisions of this chapter may submit an application for a reciprocal license as an exchange facilitator pursuant to the provisions of this section. The Division shall issue a reciprocal license to the applicant if:
(a) The applicant is licensed in a jurisdiction that grants reciprocal licensing to a person licensed pursuant to this chapter;
(b) The Division determines that the laws and regulations governing exchange facilitators of the jurisdiction in which the applicant is licensed are at least equivalent to the provisions of this chapter;
(c) The applicant provides proof satisfactory to the Division that the applicant has complied with the requirements of NRS 645G.320 and 645G.330;
(d) The applicant pays the fee required pursuant to NRS 645G.220;
(e) The applicant designates the Division as its representative to receive service of process for matters arising in this State; and
(f) The applicant does not maintain an office in this State in connection with the conduct of the business of an exchange facilitator.
2. The Division shall:
(a) Examine the laws of each state to identify the jurisdictions that meet the requirements for recognition of a reciprocal license pursuant to this section; and
(b) Publish annually a list of the jurisdictions that meet the requirements of this section.
3. A license issued pursuant to this section must be renewed annually on or before July 1, by providing the information required by the Division for that purpose and paying the renewal fee prescribed by NRS 645G.220.
(Added to NRS by 2007, 3113)
1. A person who is licensed as an exchange facilitator in another state or territory of the United States and is not otherwise required to be licensed pursuant to the provisions of this chapter may submit an application for a reciprocal license as an exchange facilitator pursuant to the provisions of this section. The Division shall issue a reciprocal license to the applicant if:
(a) The applicant is licensed in a jurisdiction that grants reciprocal licensing to a person licensed pursuant to this chapter;
(b) The Division determines that the laws and regulations governing exchange facilitators of the jurisdiction in which the applicant is licensed are at least equivalent to the provisions of this chapter;
(c) The applicant provides proof satisfactory to the Division that the applicant has complied with the requirements of NRS 645G.320 and 645G.330;
(d) The applicant pays the fee required pursuant to NRS 645G.220;
(e) The applicant designates the Division as its representative to receive service of process for matters arising in this State; and
(f) The applicant does not maintain an office in this State in connection with the conduct of the business of an exchange facilitator.
2. The Division shall:
(a) Examine the laws of each state to identify the jurisdictions that meet the requirements for recognition of a reciprocal license pursuant to this section; and
(b) Publish annually a list of the jurisdictions that meet the requirements of this section.
3. A license issued pursuant to this section expires on December 31 of each year unless it is renewed. To renew such a license, the licensee must submit to the Commissioner on or after November 1 and on or before December 31 of each year:
(a) An application for renewal which contains the information required by the Division for that purpose; and
(b) The renewal fee prescribed by NRS 645G.220.
(Added to NRS by 2007, 3113; A 2021, 2063, effective on the date on which the Commissioner of Financial Institutions notifies the Governor and the Director of the Legislative Counsel Bureau that the Nationwide Multistate Licensing System and Registry has sufficient capabilities to allow the Commissioner to carry out the provisions of chapter 347, Statutes of Nevada 2021, at page 2030)
