1. The Director may refuse to consider any application submitted pursuant to NRS 657A.400 if the application does not include the information required by NRS 657A.400 or any other information deemed necessary by the Director. The applicant shall provide, within the period directed by the Director, any additional information required in connection with the application. If the required information is not provided, the application may be denied by the Director as incomplete.
2. Upon receipt of a completed application and payment of the required fee, the Director shall identify and consult with each applicable regulator having an interest in the subject of the application. The consultation is advisory only and not binding on the Director. The consultation may relate to any matter deemed by the Director to be relevant to the application, including, without limitation:
(a) Any license or other authorization previously issued by the applicable regulator, or the corresponding regulator in another jurisdiction, to the applicant or any other person described in paragraph (c) of subsection 3 of NRS 657A.400;
(b) Any criminal, civil, administrative or other proceeding previously brought by or on behalf of the applicable regulator, or the corresponding regulator in any other jurisdiction, against the applicant or any other person described in paragraph (c) of subsection 3 of NRS 657A.400; and
(c) The ability of the applicant or any other person described in paragraph (c) of subsection 3 of NRS 657A.400 to qualify for a license or other authorization from the applicable regulator upon the completion of testing.
3. Unless the Director and the applicant mutually agree to extend this period, the Director shall approve or deny an application within 90 days after the completed application is received.
(Added to NRS by 2019, 3987)
Structure Nevada Revised Statutes
Chapter 657A - Regulatory Experimentation Program for Product Innovation
NRS 657A.110 - "Applicable regulator" defined.
NRS 657A.120 - "Consumer" defined.
NRS 657A.130 - "Director" defined.
NRS 657A.140 - "Financial product or service" or "product or service" defined.
NRS 657A.150 - "Innovation" defined.
NRS 657A.160 - "Participant" defined.
NRS 657A.170 - "Program" defined.
NRS 657A.180 - "Test" defined.
NRS 657A.200 - Establishment of Program.
NRS 657A.230 - Participant deemed to hold a license or other authorization.
NRS 657A.300 - Financial product or service provided within Program: Requirements and limitations.
NRS 657A.310 - Limitations on transactions.
NRS 657A.330 - Required disclosures.
NRS 657A.340 - Period of testing.
NRS 657A.400 - Application to participate; requirements for application; fee.
NRS 657A.420 - Approval or denial of application; notice of approval or denial.
NRS 657A.520 - Electronic form of certain information; substitution of certain information.
NRS 657A.530 - Report by Director to Legislature.
NRS 657A.600 - Establishment of toll-free telephone number and Internet website for complaints.